|
Report Date : |
03.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
YG-1 CO., LTD. |
|
|
|
|
Formerly Known As : |
YANGGEE 1
TOOLS CO., LTD. |
|
|
|
|
Registered Office : |
68, Cheongcheon 1-dong, Bupyeong-gu, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
25.09.1986 |
|
|
|
|
Com. Reg. No.: |
122-81-16515 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Saws, Saw Blades and Interchangeable Tools |
|
|
|
|
No. of Employees : |
1,385 |
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 : |
Satisfactory |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SOUTH KOREA - ECONOMIC
OVERVIEW
South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies, and is currently the world's 12th largest economy. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea's development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. Korea''s export focused economy was hit hard by the 2008 global economic downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in 2010. The US-South Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The incoming administration in 2013, following the December 2012 presidential election, is likely to face the challenges of balancing heavy reliance on exports with developing domestic-oriented sectors, such as services. The South Korean economy''s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP
|
Source
: CIA |
Basic
|
Company Name |
YG-1 CO., LTD. (Korean Company Name : “(주)와이지-원”) |
|
Registered
Address |
68, Cheongcheon 1-dong, Bupyeong-gu, Incheon, Korea |
|
Building |
|
|
Zip Code |
403-855 |
|
Tel |
+82-32-526-0909 |
|
Fax |
+82-32-526-4373 |
|
E-mail |
yg-1@yg1.co.kr |
|
Website |
www.yg1.co.kr |
|
Trading Address |
68, Cheongcheon 1-dong, Bupyeong-gu, Incheon, Korea |
|
Tel |
+82-32-526-0909 |
|
Fax |
+82-32-526-4373 |
|
Other Address-Ansan Factory |
5Ra-403, Sihwa Industrial Complex, 673-15, Seonggok-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-499-9541~5 |
|
Fax |
+82-31-498-7971 |
|
Other Address-Gwangju Factory |
621-4, Docheon-dong, Gwangsan-gu, Gwangju, Korea |
|
Tel |
+82-62-951-9212 |
|
Fax |
+82-62-951-9222 |
|
Other Address-R&D Center |
7-7, Songdo-dong, Yeonsu-gu, Incheon, Korea |
|
Tel |
+82-32-858-0919~21 |
|
Fax |
+82-32-858-0922 |
|
Type |
Export |
|
Industry |
Manufacture of Saws, Saw Blades and Interchangeable Tools |
|
Main Business |
End Mill, Drill, Tap, Rotary Burr |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
09/25/1986 |
The Subject owns
the premises of registered HQ address, Ansan Factory and Gwangju
Factory.
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Taps or dies(23153305) |
|
Sell |
Drills(23153301) |
|
Sell |
End mills(27112803) |
|
Sell |
Rotary burrs(23153310) |
|
Buy |
Tungsten carbide(31191518) |
|
Buy |
Steel(11101704) |
CEO’s
|
Name |
Song Ho-Keun |
|
Address |
|
|
Date of Birth |
01/15/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
12,006,615,000 |
|||||||||||||||||||||||||||||||||
|
Employees |
1,385 |
|||||||||||||||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 019210) as of 08/06/1997 |
|||||||||||||||||||||||||||||||||
|
Bank Details |
Citibank,
Korea SC First Bank
of Korea Woori Bank |
|||||||||||||||||||||||||||||||||
|
Corporate
Registered No. |
120111-0038639 |
|||||||||||||||||||||||||||||||||
|
Business
Registered No. |
122-81-16515 |
|||||||||||||||||||||||||||||||||
|
Permit &
Licenses |
06/1993 KS Mark 03/1997 EM Mark 03/31/1997 KS Mark 12/28/1999 ISO 9001 by TUV 07/2001 ISO 14001 by TUV 03/2005 ISO 9001 by DAS 03/2005 ISO 14001 by DAS Int’l Trade No.: 960975 |
|||||||||||||||||||||||||||||||||
|
Shareholder
Position |
|
|||||||||||||||||||||||||||||||||
|
Company
History |
09/25/1986 Incorporated
as YANGGEE 1 TOOLS CO., LTD. 10/12/1999
Changed company name to the present name 11/2001
Awarded US$30 Million Export Top Prize 07/2004 Moved
to the present HQ address from 378, Cheongcheon-dong, Bupyeong-gu,
Incheon, Korea 11/2004
Awarded US$50 Million Export Top Prize 11/2006
Awarded US$70 Million Export Top Prize 11/2008
Awarded US$100 Million Export Top Prize 02/28/2009
Acquired the patent on spherical tools in India |
|||||||||||||||||||||||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Song Ho-Keun |
Korean |
1952.01.15 |
Seoul National University, Korea |
|
Director / R&D |
Mr. |
Lee Young-Bae |
Korean |
1951.03.10 |
Dongah University, Korea |
|
Director |
Mr. |
Park Young-Koon |
Korean |
1958.01.27 |
Gyungnam University, Korea |
|
Outside Director |
Mr. |
Kim Jong-Hoon |
Korean |
1953.03.08 |
Seoul National University, Korea |
|
Auditor |
Mr. |
Lee Ho-Kil |
Korean |
1950.06.29 |
Seoul National University, Korea |
Financials
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
181,150,401,375 |
520,379,523,419 |
115,947,091 |
|
|
(*)2012 |
254,704,068,809 |
478,156,565,006 |
18,528,143,774 |
|
(*)2011 |
257,472,360,293 |
408,336,611,946 |
20,586,778,811 |
|
2010 |
163,176,034,832 |
208,141,615,879 |
10,667,567,876 |
|
2009 |
115,507,427,989 |
190,838,235,591 |
-14,645,488,980 |
|
2008 |
174,829,352,201 |
177,677,235,137 |
7,670,371,069 |
|
2007 |
128,278,571,018 |
142,713,220,376 |
9,865,338,204 |
|
2006 |
105,483,007,771 |
119,862,120,219 |
7,231,213,257 |
|
2005 |
107,731,920,082 |
112,822,917,787 |
6,130,343,517 |
(*)Figures are based on the K-IFRS
Accounting System.
Financial Description
|
Authorized
Capital(KRW) |
20,000,000,000 |
|
Paid-Up
Capital(KRW) |
12,006,615,000 |
|
Total Issues
Shares |
24,013,230 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
01/01/2013~09/30/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total
Assets |
520,379,523,419 |
478,156,565,006 |
408,336,611,946 |
|
Current
Assets |
273,378,549,680 |
247,208,274,170 |
236,659,301,254 |
|
Cash
& Cash Equivalents |
1,925,386,516 |
3,679,947 |
586,100,208 |
|
Current
Financial Instruments |
41,473,990,083 |
23,998,488,291 |
10,007,576,795 |
|
Trade
Receivables & Other Receivables |
121,289,668,655 |
117,303,599,163 |
124,229,401,024 |
|
Marketable
Financial Instruments |
3,590,000 |
1,870,000 |
5,550,000 |
|
Derivatives |
95,836,765 |
- |
- |
|
Inventories |
103,085,626,928 |
97,764,019,930 |
92,911,343,892 |
|
Other
Current Assets |
5,504,450,733 |
8,136,616,839 |
8,919,329,335 |
|
Non-Current
Assets |
247,000,973,739 |
230,948,290,836 |
171,677,310,692 |
|
Investment_Subsidiaries |
78,191,689,022 |
73,460,779,755 |
43,411,462,828 |
|
Investment_Related
Companies |
2,995,402,946 |
3,081,172,505 |
5,275,424,251 |
|
Marketable
Financial Instruments |
1,118,453,018 |
1,114,109,407 |
126,393,317 |
|
Held-to-Maturity
Financial Assets |
378,580,000 |
381,000,000 |
368,040,000 |
|
Long-Term
Trade Receivables & Other Receivables |
729,822,763 |
239,043,923 |
2,512,793,763 |
|
Non-Current
Financial Instruments |
255,000,000 |
125,000,000 |
92,500,000 |
|
Tangibles |
162,514,938,227 |
151,367,890,401 |
118,403,582,115 |
|
Intangibles |
817,087,763 |
1,179,294,845 |
1,487,114,418 |
|
Total
Liabilities |
341,602,760,897 |
294,693,103,575 |
273,175,293,584 |
|
Current
Liabilities |
198,289,082,385 |
177,648,728,269 |
225,475,771,201 |
|
Short-Term
Borrowings |
153,254,962,541 |
126,179,488,352 |
166,080,337,794 |
|
Trade
Payables & Other Payables |
43,215,225,376 |
30,530,938,941 |
36,335,324,553 |
|
Debentures |
- |
17,985,892,872 |
19,992,789,837 |
|
Provisions |
44,940,510 |
1,375,257,144 |
1,364,114,458 |
|
Finance Guarantee Debts |
231,434,161 |
299,209,149 |
353,234,382 |
|
Derivatives |
101,852,502 |
- |
- |
|
Other
Current Liabilities |
1,440,667,295 |
1,277,941,811 |
1,349,970,177 |
|
Non-Current
Liabilities |
143,313,678,512 |
117,044,375,306 |
47,699,522,383 |
|
Long-Term
Borrowings |
38,676,994,454 |
41,545,320,684 |
22,581,492,440 |
|
Debentures |
64,809,116,456 |
39,929,549,038 |
17,968,144,627 |
|
Bond with Warrant |
28,622,043,382 |
26,927,164,961 |
- |
|
Other
Non-Current Financial Debts |
716,037,307 |
483,372,611 |
296,105,697 |
|
Confirmed
Salaries |
2,756,407,358 |
1,891,252,452 |
2,487,249,089 |
|
Deferred
Income Tax Credit |
7,733,079,555 |
6,267,715,560 |
4,366,530,530 |
|
Capital
Stock |
12,006,615,000 |
12,006,615,000 |
10,806,615,000 |
|
Others |
57,755,131,321 |
57,755,131,321 |
24,455,424,339 |
|
Profit
Surplus |
109,015,016,201 |
113,701,715,110 |
99,899,279,023 |
|
Total
Equity |
178,776,762,522 |
183,463,461,431 |
135,161,318,362 |
|
Liab.
& Shareholder’s Equity |
520,379,523,419 |
478,156,565,006 |
408,336,611,946 |
|
Income Statement |
|||
|
Unit : Korean
Won |
01/01/2013~09/30/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Sales |
181,150,401,375 |
254,704,068,809 |
257,472,360,293 |
|
Cost
of Sold Goods |
148,947,431,303 |
194,614,885,219 |
193,683,821,645 |
|
Gross
Profit |
32,202,970,072 |
60,089,183,590 |
63,788,538,648 |
|
Selling
Expenses |
7,192,160,031 |
8,915,591,491 |
12,850,185,292 |
|
Admin.
Expenses |
12,022,375,679 |
16,553,149,847 |
14,022,503,281 |
|
Operating
Income |
12,988,434,362 |
34,620,442,252 |
36,915,850,075 |
|
Other
Income |
14,723,025,125 |
13,590,983,441 |
10,111,284,726 |
|
Other
Expenses |
15,522,916,550 |
17,351,117,835 |
12,119,449,781 |
|
Finance
Income |
4,796,371,570 |
10,511,543,480 |
4,542,731,113 |
|
Finance
Expenses |
16,010,362,288 |
16,316,478,823 |
14,767,136,244 |
|
Income
Before Taxes |
974,552,219 |
25,055,372,515 |
24,683,279,889 |
|
Income
Before Taxes |
858,605,128 |
6,527,228,741 |
4,096,501,078 |
|
Net Income |
115,947,091 |
18,528,143,774 |
20,586,778,811 |
|
Cash Flows |
|||
|
Unit : Korean
Won |
01/01/2013~09/30/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Operating
Activities Cash Flows |
23,813,839,961 |
34,375,967,298 |
-29,524,530,524 |
|
Cash
Flows from Operating |
23,780,596,080 |
39,136,343,512 |
-28,703,895,117 |
|
Net
Income |
115,947,091 |
18,528,143,774 |
20,586,778,811 |
|
Adjustment |
17,937,129,248 |
28,353,445,422 |
24,291,006,310 |
|
Changes
in Asset/ & Liability |
5,727,519,741 |
-7,745,245,684 |
-73,581,680,238 |
|
Dividends
Received |
50,499,936 |
56,614,680 |
|
|
Income
Taxes |
-17,256,055 |
-4,816,990,894 |
-820,635,407 |
|
Cash
Flows from Investing |
-42,836,640,078 |
-85,251,442,388 |
-43,530,964,379 |
|
Cash
Flows from Financing |
20,943,835,494 |
50,293,054,829 |
70,950,742,692 |
|
Increase/Decrease
in Cash |
1,921,706,569 |
-582,420,261 |
-2,104,752,211 |
|
Cash
at the Beginning of Year |
3,679,947 |
586,100,208 |
2,690,852,419 |
|
Cash
at the End of Year |
1,925,386,516 |
3,679,947 |
586,100,208 |
Products,
Technologies, Services Description
|
Main Products
& Services |
End Mills,
Taps, Drills |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
|
|
Competitors |
INBEX DIAMOND
CO., LTD. 296-2, DONGPAE
1-RI, GYOHA-EUP, PAJU-SI, GYEONGGI-DO, KOREA TEL:+82-31-945-2153 FAX:+82-31-945-2809 ACCUTECH CO.,
LTD. 1402-3, JUAN
5-DONG, NAM-GU, INCHEON, KOREA TEL:+82-32-816-8808 FAX:+82-32-811-0837 SEWON TECH
CO., LTD. 396-11,
CHEONGCHEON 2-DONG, BUPYEONG-GU, INCHEON, KOREA TEL:+82-32-582-4324~6 FAX:+82-32-582-4327 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
QINGDAO NEW CENTURY
TOOL CO. ,LTD.(CHINA) (90.6% held by the subject company) QINGDAO YG-1
TOOL CO., LTD.(CHINA) (100.0% held by the subject company) YG-1 EUROPE
SAS(FRANCE) (100.0% held by the subject company) PREMIER
CUTTING TOOLS. INC.(USA) (100.0% held by the subject company) REGAL CUTTING
TOOLS. INC.(USA) (60.0% held by the subject company) YG-1
INDUSTRIES INDIA PVT. LTD.(INDIA) (100.0% held by the subject company) EUROPA TOOLS
CO., LTD.(UK) (81.1% held by the subject company) YG-1
DEUTSCHLAND GMBH(GERMANY) (100.0% held by the subject company) YG-1 AUSTRALIA
PTY. LTD.(AUSTRALIA) (100.0% held by the subject company) YG-1 TOOLS
ASIA PTE. LTD.(SINGAPORE) (100.0% held by the subject company) YG-1
JAPAN(JAPAN) (90.0% held by the subject company) ALPHA TOOL CO.,LTD.(JAPAN) (48.0% held by the subject company) YG-1 LATIN
AMERICA(BRAZIL) TEKNO TAKIM
SAN. TIC. AS.(TURKEY) YG CUTTING
TOOLS CORPORATION PVT.LTD.(INDIA) CLARKSON
OSBORN INTERNATIONAL LTD.(UK) MINICUT
INTERNATIONAL. INC.(CANADA) NATIONAL TOOL
HARDENING INC.(CANADA) YG-1 POLAND
SP.ZOO(POLAND) YG-1 CANADA
INC. YG-1 (HONG
KONG) LIMITED YG-1
CORPORATION TRADING SRL (RUMANIA) YG-1 CHINA
HOLDINGS LIMITED. YG-1
(THAILAND) CO, LTD. |
|
Overseas
Office |
|
|
Liaison Office |
|
|
Overseas
Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate
Ownership |
|
|
Major
Shareholders |
|
|
Cooperative
Enterprise |
-Insured
company SAMSUNG FIRE & MARINE INSURANCE CO.,
LTD.(110111-0005078) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil
KRW |
03/2011 |
2010 |
2009 |
|
Export |
38,994 |
114,564 |
82,500 |
|
Domestic |
12,314 |
48,612 |
33,007 |
|
Total |
51,308 |
163,176 |
115,507 |
The Subject
exports to Australia, Germany, Japan, Singapore, UK and USA. It imports from
Europe.
Court Action
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.90 |
|
|
1 |
Rs.102.74 |
|
Euro |
1 |
Rs.85.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.