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Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
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Name : |
YONEZAWA KOKI CO LTD |
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Registered Office : |
1-33-16 Todoroki Setagayaku Tokyo 158-0032
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Country : |
Japan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
December 1957 |
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Com. Reg. No.: |
0109-01-012608
(Tokyo-Setagayaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter
and wholesaler of machine tools,
industrial machinery, cutting tools, machining centers NC lathes, metal
cutting tools, drills, measuring instruments, lab instruments, wires, metal
products, CAD/CAM systems, and other PC software |
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No. of Employees |
72 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
YONEZAWA KOKI CO LTD
Yonezawa Koki KK
1-33-16 Todoroki
Setagayaku Tokyo 158-0032 JAPAN
Tel: 03-3703-2131 Fax: 03-2703-2130
URL: www.yonek.co.jp
E-mail: mori@yonek.co.jp
Import,
export, wholesale of machine tools, metal cutting tools, measuring Instruments,
CAD/CAM systems
Utsunomiya,
Fukushima, Nagoya, Fukuoka
China
(4), Thailand (3), Indonesia, Vietnam, Mexico
(subcontracted)
SHUNNICHI
AOKI, PRES
Mitsuaki Yonezawa, ch
Tadayoshi Yokochi, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 9,038 M
PAYMENTSNo Complaints
CAPITAL Yen 70 M
TREND UP WORTH Yen 972 M
STARTED 1957 EMPLOYES 72
TRADING
FIRM SPECIALIZING IN MACHINE TOOLS
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Mitsuaki Yonezawa, now ch, in order to make most of his experience in the subject line of business. Toshikazu Aoki took the pres office in Mar 2005 when Mitsuaki promoted to the ch. This is a trading firm specializing in import, export and wholesale of machine tools, measuring instruments, metal cutting tools, lab instruments, CAD/CAM systems, other. Strong in machining centers, NC lathes, particularly after dealership agreement closed in Apr 2005 with Okuma Corp, top class machine tool mfr, with strength in medium & large MCs & NC lathes. Operates three overseas offices for marketing & purchasing. Major clients include auto makers, electronics makers other.
The sales volume for Dec/2012 fiscal term amounted to Yen 9,038 million, a 0.55% up from Yen 5,842 million in the previous term. Demand resumed. Recovery from Thai floods aided the sales growth. The recurring profit was posted at Yen 259 million and the net profit at Yen 239 million, respectively, compared with Yen 85 million recurring profit and Yen 32 million net profit, respectively, a year ago. .
For the term that ended Dec 2013 the recurring profit was projected at Yen 270 million and the net profit at Yen 250 million, respectively, on a 3% rise in turnover, to Yen 9,300 million. Business is seen expanding steadily. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1957
Regd No.: 0109-01-012608
(Tokyo-Setagayaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 560,000 shares
Issued: 140,000 shares
Sum: Yen
70 million
Major shareholders (%): Mitsuaki Yonezawa (33.6), Ikue
Yonezawa (25), Toshikazu Aoki (8.9), other
No. of shareholders: 13
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales machine tools, industrial machinery, cutting tools, other: machining centers NC lathes, metal cutting tools, drills, measuring instruments, lab instruments, wires, metal products, CAD/CAM systems, and other PC software (--100%).
Clients: [Mfrs, wholesalers] Honda Engineering, Stanley Electric, Fuji Heavy Ind, Hitachi Metal, Canon Mold, Hitachi Chemical, NOK, Hitachi Ltd, Nippon Molex Co, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Okuma Corp, Makino Milling Machine, Mitsubishi Electric, Mitsubishi Heavy Ind Plastic Machinery, Yamazaki Mazack Corp, other.
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Bank of Yokohama (Tamagawa)
MUFG (Jiyugaoka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
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Annual
Sales |
|
9,300 |
9,038 |
5,842 |
5,805 |
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Recur.
Profit |
|
270 |
259 |
85 |
24 |
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Net
Profit |
|
250 |
239 |
32 |
-34 |
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Total
Assets |
|
|
5,628 |
4,632 |
4,236 |
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Current
Assets |
|
|
5,372 |
2,819 |
2,639 |
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Current
Liabs |
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|
3,849 |
2,673 |
2,279 |
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Net
Worth |
|
|
972 |
741 |
740 |
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Capital,
Paid-Up |
|
|
70 |
70 |
70 |
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Div.Ttl
in Million (¥) |
|
|
16.75 |
16.75 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.90 |
54.71 |
0.64 |
14.00 |
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Current Ratio |
.. |
139.57 |
105.46 |
115.80 |
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N.Worth Ratio |
.. |
17.27 |
16.00 |
17.47 |
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R.Profit/Sales |
2.90 |
2.87 |
1.45 |
0.41 |
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N.Profit/Sales |
2.69 |
2.64 |
0.55 |
-0.59 |
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Return On Equity |
.. |
24.59 |
4.32 |
-4.59 |
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Notes:
Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
|
UK Pound |
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.