|
Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ORION MACHINERY CO LTD |
|
|
|
|
Registered Office : |
246 Kotaka Suzaka City Nagano-Pref 382-8502 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
November, 1946 |
|
|
|
|
Com. Reg. No.: |
1000-01-005488 (Nagano-Suzaka) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufacturing of industrial machinery, dairy equipment |
|
|
|
|
No. of Employees : |
592 |
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 : |
Regular |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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. Newly-elected Prime Minister Shinzo ABE has declared the economy his government's top priority; he has pledged to reconsider his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus and regulatory reform and has said he will press the Bank of Japan to loosen monetary policy. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2012 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 exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
|
Source
: CIA |
ORION MACHINERY CO
LTD
REGD NAME: Orion Kikai KK
MAIN OFFICE: 246 Kotaka Suzaka City Nagano-Pref 382-8502
JAPAN
Tel:
026-245-1263
Fax: 026-245-5358
URL: http//:www.orionkikai.co.jp
E-mail: siji@orionkikai.co.jp
Mfg of industrial machinery, dairy equipment, other
Tokyo, Chikuma, Nagano, Chitose
Shanghai, Taipei, Hong Kong
Chikuma (Nagano), Chitose (Hokkaido)
Shanghai, Dongguan (--China), Taiwan, Korea, Hong Kong
TETSURO OHTA, PRES Kazuo
Shimizu, s/mgn dir
Masuo Yoshioka, mgn dir Tsugio
Kobayashi, dir
Shigemi Yanagisawa, dir Tohru
Kaneko, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 21,767 M
PAYMENTS REGULAR CAPITAL Yen
100 M
TREND UP WORTH Yen 20,673 M
STARTED 1946 EMPLOYES 592
MFR OF INDUSTRIAL MACHINERY & DAIRY EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FORORDINARY BUSINESS
ENGAGEMENTS
The subject company was established by father of Tetsuo Ohta in order to
make most of his experience in the subject line of business. This is a specialized mfr of industrial
machinery and dairy equipment (See OPERATION). Tops in the mfg of dairy equipment (milking
parlor). Sales are conducted by 9
subsidiary dealerships from Hokkaido to Kyushu, with a total 32 offices
nationwide. The firm awarded the Prize
from the Japan Machinery Federation for its product heat pump balance control
air dryers. Goods are also
exported. In 2011, the firm bought up a
dairy products sales company in China.
The firm plans to set up a new plant in Thailand to make a footstep into
Asean countries.
The sales volume for Mar/2013 fiscal term amounted to Yen 21,767
million, a 4% down from Yen 22,760 million in the previous term. The recurring profit was posted at Yen 2,934
million and the net profit at Yen 1,478 million, respectively, compared with
Yen 2,603 million recurring profit and Yen 1,617 million net profit,
respectively, a year ago. .
For the current term ending Mar 2014 the recurring profit is projected
at Yen 3,000 million and the net profit at Yen 1,500 million, respectively, on
a 3% rise in turnover, to Yen 22,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Nov 1946
Regd No.: 1000-01-005488 (Nagano-Suzaka)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued: 200,000 shares
Sum: Yen 100 million
Major shareholders
(%):
Employees’ S/Holding Assn (39.2), Tetsuo Ohta (22.3), Tokyo Small & Medium
Business Promotion and Investment Corp (15.7), Executives’ S/Holding Assn (6.3)
No. of
shareholders: 36
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
industrial machinery/equipment (60%), dairy equipment, other (40%)
Exports (5%)
(Mfg items): Industrial
machinery & equipment: plate heat exchangers, refrigeration equipment
(chillers, dehumidifiers, food service equipment), clean air systems (DC
inverter air dryers, Digi-Eco refrigerated air dryers, inverter air dryers,
heatless air dryers, refrigerated air dryers, air filters, vacuum pumps, jet
heaters, precision temp & humidity control systems, dairy
machinery/equipment (milking parlor), other.
Clients: [Mfrs,
wholesalers] Hokkaido Orion, Nishinippon Orion, Tohoku Orion, Higashinippon
Orion, Chubu Orion, Kansai Orion, other (--subsidiary wholesalers)
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Orion Seiko Co, Orion West Falia Surge Co, Clean Kagaku Kogyo,
Rion Thermology Co, Panasonic Corp, other
Payment record: Regular
Location: Business area in
Suzaka City, Nagano-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Hachijuni
Bank (Suzaka)
Shoko
Chukin Bank (Nagano)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
22,500 |
21,767 |
22,760 |
21,284 |
|
Recur. Profit |
|
3,000 |
2,934 |
2,603 |
2,245 |
|
Net Profit |
|
1,500 |
1,478 |
1,617 |
1,521 |
|
Total Assets |
|
|
31,452 |
29,370 |
28,109 |
|
Current Assets |
|
|
20,035 |
17,399 |
18,096 |
|
Current Liabs |
|
|
8,407 |
7,557 |
7,859 |
|
Net Worth |
|
|
20,673 |
19,087 |
17,498 |
|
Capital, Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.37 |
-4.36 |
6.93 |
31.31 |
|
|
Current Ratio |
.. |
238.31 |
230.24 |
230.26 |
|
|
N.Worth Ratio |
.. |
65.73 |
64.99 |
62.25 |
|
|
R.Profit/Sales |
13.33 |
13.48 |
11.44 |
10.55 |
|
|
N.Profit/Sales |
6.67 |
6.79 |
7.10 |
7.15 |
|
|
Return On Equity |
.. |
7.15 |
8.47 |
8.69 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.