|
Report Date : |
28.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
AMADA CO LTD |
|
|
|
|
Registered Office : |
200 Ishida
Isehara Kanagawa-Pref 259-1196 |
|
|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
May 1948 |
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|
|
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Legal Form : |
Limited Company |
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|
|
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Line of Business : |
Manufactures metal processing machinery
and metal processing machine tools, others |
|
|
|
|
No. of Employees : |
7,956 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
JAPAN - ECONOMIC OVERVIEW
In the years following World
War II, government-industry cooperation, a strong work ethic, mastery of high
technology, and a comparatively small defense allocation (1% of GDP) helped
Japan develop a technologically advanced economy. Two notable characteristics
of the post-war economy were the close interlocking structures of
manufacturers, suppliers, and distributors, known as keiretsu, and the
guarantee of lifetime employment for a substantial portion of the urban labor
force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. For three decades, overall real economic growth
had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s,
and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging
just 1.7%, largely because of the after effects of inefficient investment and
an asset price bubble in the late 1980s that required a protracted period of
time for firms to reduce excess debt, capital, and labor. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan into recession. Government stimulus
spending helped the economy recover in late 2009 and 2010, but the economy
contracted again in 2011 as the massive 9.0 magnitude earthquake and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has overturned his predecessor's plan to
permanently close nuclear power plants and is pursuing an economic
revitalization agenda of fiscal stimulus, monetary easing, and structural
reform. Japan joined the Trans Pacific Partnership negotiations in 2013, a pact
that would open Japan's economy to increased foreign competition and create new
export opportunities for Japanese businesses. Measured on a purchasing power
parity (PPP) basis that adjusts for price differences, Japan in 2013 stood as
the fourth-largest economy in the world after second-place China, which
surpassed Japan in 2001, and third-place India, which edged out Japan in 2012.
The new government will continue a longstanding debate on restructuring the
economy and reining in Japan's huge government debt, which is exceeding 230% of
GDP. To help raise government revenue and reduce public debt, Japan decided in
2013 to gradually increase the consumption tax to a total of 10% by the year
2015. Japan is making progress on ending deflation due to a weaker yen and
higher energy costs, but reliance on exports to drive growth and an aging,
shrinking population pose other major long-term challenges for the economy.
|
Source
: CIA |
AMADA CO LTD
KK Amada
200 Ishida Isehara
Kanagawa-Pref 259-1196 JAPAN
Tel:
0463-96-1111
Fax: 0463-96-3281
E-Mail address: info@amada.co.jp
ACTIVITIES: Mfg
of metal working machinery
BRANCHES: 44
(domestic), 39 affiliates overseas
OVERSEAS: USA (4), Canada, Mexico, Europe (14), China
(8), Taiwan, Korea, Thailand (2),
Singapore
(2), Malaysia, Vietnam, India (2), Australia (--subsidiaries)
FACTORIES: Fujinomiya,
Odawara, Ono, Isehara
CHIEF EXEC: MITSUO
OKAMOTO, PRES & CEO
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen
1256,482 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 54,768 M
TREND UP WORTH Yen 417,002 M
STARTED 1948 EMPLOYES 7,956
COMMENT: MFR
OF METAL WORKING MACHINERY.
FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
|
Business |
Terms Ending |
Annual
Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
|
Results: |
31/03/2011 |
163,153 |
6,757 |
2,716 |
(%) |
375,159 |
|
(Consolidated) |
31/03/2012 |
185,539 |
10,440 |
4,643 |
13.72 |
371,969 |
|
|
31/03/2013 |
190,018 |
9,074 |
4,126 |
2.41 |
385,102 |
|
|
31/03/2014 |
256,482 |
20,680 |
12,184 |
34.98 |
417,002 |
|
|
31/03/2015 |
275,000 |
30,000 |
18,000 |
7.22 |
.. |
Unit:
In Million Yen
Forecast (or estimated) figures for 31/03/2015
fiscal term
This is a top-class mfr of metalworking machinery. Once specialized in marketing, but leading merged Amada Machines, machine tool manufacturing arm in Oct 2003, and restarted production. Largest maker of sheet metal processing machinery. Aggressively engaged in overseas production. The company plans to establish technical centers in India and Thailand by the end of March 2015 term. It aims to turn the center in Thailand into a hub to adjacent countries, in view of future increase in demand.
The sales volume for Mar/2014 fiscal term amounted to Yen 256,482 million, a 35.0% up from Yen 190,018 million in the previous term. The newly purchased Miyachi Corp added Yen 20 billion and Yen 500 million to sales and operating profit, respectively. Sales of sheet metal processing machinery increased in the domestic market, mainly construction firms. Orders advanced in North America, on the back of recovery in the markets. The recurring profit was posted at Yen 20,680 million and the net profit at Yen 12,184 million, respectively, compared with Yen 9,074 million recurring profit and Yen 4,126 million net profit, respectively, a year ago
(Apr/Jun/2014 results): Sales Yen 51,342 million (up 13.8%), operating profit Yen 1,407 million (previously Yen 309 loss), recurring profit Yen 1,791 million (up 53.3%), net profit Yen 913 million (up 396.7%). (% and figures compared with the corresponding period a year ago).
For the current term ending Mar 2015 the recurring profit is projected at Yen 30,000 million and the net profit at Yen 18,000 million, respectively, on a 7.2% rise in turnover, to Yen 275,000 million. Sales of mainline sheet metal processing machinery are likely to show a favorable growth in the European and the Chinese markets, boosted by strong demand from the electrical and medical machine makers. Orders will remain at a high level in North America, led by those for laser processing machines.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: May
1948
Regd No.:
(Kanagawa-Isehara)
020895
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 550
million shares
Issued:
396,502,117 shares
Sum: Yen
54,768 million
Major
shareholders (%): Japan Trustee Services T (10.5), Master Trust Bank of Japan T (6.5),
Mizuho Bank (3.7), Company’s Treasury Stock (3.56), Trust & Custody
Services, Trust (2.9), Amada Foundation (2.5), BNP Paribas Lux J Aberdeen G
(2.3), Northern Trust (AVFC) (1.8), Nippon Life Ins (1.8), Joyo Bank (1.4);
foreign owners (44.7)
No. of shareholders: 16,406
Listed on the S/Exchange (s) of: Tokyo
Managements: Mitsuo Okamoto,
pres & CEO; Toshio Takagi, s/mgn dir; Tsutomu Isobe, s/mgn dir: Atsushige
Abe, mgn dir; Kotaro Shibata, mgn dir; Takaya Shigeta, dir; Katsuhide Ito, dir
Nothing detrimental
is known as to the commercial morality of executives.
Related
companies: Amada North America, Techno Wasino, Amada Prestech, Amada Cutting,
Amada Machine Tool, other
Activities: Manufactures
metal processing machinery and metal processing machine tools, others
(Mfg Items):
Sheet
Metal Processing Machinery (82%): punching machines, laser machines, blending
machines, welding machines, shearing machines, general fabrication machines;
Metal
Processing Machine Tools (17%): band saw machines, structural steel machines
(drilling machines), environment related products; stamping press, machines for
cutting & shaping metal blocks, used to process precision components, tools
& dies, etc.
Others
(1%): Real estate leasing, other
Overseas
Sales Ratio (53%)
Clients: [Mfrs,
wholesalers] Mitsui & Co, Toshiba Corp, Mitsubishi Electric, Fujitsu Ltd,
Nippon Steel, Nissan Motors, Amada Lease, Amada USA, Amada Machine Tool, Amada
Hong Kong, Amada Thailand, other.
No. of accounts:
800
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Hitachi Metals, Fanuc Ltd, Metal One, Amada Soft Services, Techno Washino,
NCC Co, THK, Amada Tool Precision, Amada Engineering, NEC Fielding, Asahi Shoji Co, Sankou
Denshi Co, other.
Payment record: No Complaints
Location: Business area in
Isehara City, Kanagawa-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank
(Shinjuku-Nishiguchi)
SMBC (H/O)
Relations:
Satisfactory
(In Million
Yen)
|
FINANCES: (Consolidated in million yen) |
|
|||
|
|
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
|
INCOME STATEMENT |
|
|
||
|
|
Annual Sales |
|
256,482 |
190,018 |
|
|
Cost of Sales |
153,977 |
115,595 |
|
|
|
GROSS PROFIT |
102,505 |
74,423 |
|
|
|
Selling & Adm Costs |
86,280 |
69,798 |
|
|
|
OPERATING PROFIT |
16,225 |
4,625 |
|
|
|
Non-Operating P/L |
4,455 |
4,449 |
|
|
|
RECURRING PROFIT |
20,680 |
9,074 |
|
|
|
NET PROFIT |
12,184 |
4,126 |
|
|
BALANCE SHEET |
|
|
|
|
|
|
Cash |
|
70,211 |
57,712 |
|
|
Receivables |
|
141,378 |
119,336 |
|
|
Inventory |
|
37,354 |
19,525 |
|
|
Securities, Marketable |
84,566 |
83,623 |
|
|
|
Other Current Assets |
22,930 |
20,845 |
|
|
|
TOTAL CURRENT ASSETS |
356,439 |
301,041 |
|
|
|
Property & Equipment |
126,294 |
118,437 |
|
|
|
Intangibles |
|
6,708 |
7,006 |
|
|
Investments, Other Fixed Assets |
63,288 |
68,965 |
|
|
|
TOTAL ASSETS |
552,729 |
495,449 |
|
|
|
Payables |
|
20,230 |
17,247 |
|
|
Short-Term Bank Loans |
30,015 |
18,143 |
|
|
|
|
|
|
|
|
|
Other Current Liabs |
67,748 |
53,106 |
|
|
|
TOTAL CURRENT LIABS |
117,993 |
88,496 |
|
|
|
Debentures |
|
|
200 |
|
|
Long-Term Bank Loans |
3,196 |
3,505 |
|
|
|
Reserve for Retirement Allw |
6,655 |
9,377 |
|
|
|
Other Debts |
|
7,882 |
8,769 |
|
|
TOTAL LIABILITIES |
135,726 |
110,347 |
|
|
|
MINORITY INTERESTS |
|
|
|
|
|
Common
stock |
54,768 |
54,768 |
|
|
|
Additional
paid-in capital |
163,270 |
163,199 |
|
|
|
Retained
earnings |
210,617 |
202,865 |
|
|
|
Evaluation
p/l on investments/securities |
(592) |
(1,504) |
|
|
|
Others |
|
(2,218) |
(25,042) |
|
|
Treasury
stock, at cost |
(8,843) |
(9,184) |
|
|
|
TOTAL S/HOLDERS` EQUITY |
417,002 |
385,102 |
|
|
|
TOTAL EQUITIES |
552,729 |
495,449 |
|
|
CONSOLIDATED CASH FLOWS |
|
|
||
|
|
|
Terms ending: |
31/03/2014 |
31/03/2013 |
|
|
Cash
Flows from Operating Activities |
|
25,980 |
3,379 |
|
|
Cash
Flows from Investment Activities |
-7,622 |
-15,867 |
|
|
|
Cash
Flows from Financing Activities |
2,360 |
-775 |
|
|
|
Cash,
Bank Deposits at the Term End |
|
88,537 |
63,847 |
|
ANALYTICAL RATIOS Terms ending: |
31/03/2014 |
31/03/2013 |
||
|
|
|
Net
Worth (S/Holders' Equity) |
417,002 |
385,102 |
|
|
|
Current
Ratio (%) |
302.08 |
340.17 |
|
|
|
Net
Worth Ratio (%) |
75.44 |
77.73 |
|
|
|
Recurring
Profit Ratio (%) |
8.06 |
4.78 |
|
|
|
Net
Profit Ratio (%) |
4.75 |
2.17 |
|
|
|
Return
On Equity (%) |
2.92 |
1.07 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
|
1 |
Rs.100.15 |
|
Euro |
1 |
Rs.79.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.