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Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
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Name : |
YANMAR CO LTD |
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Registered Office : |
Umeda Gate Tower, 1-9 Tsurunocho Kitaku
Osaka 530-0014 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
January 1936 |
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Com. Reg. No.: |
1200-01-071567 (Osaka-Kitaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Industrial Engines, Marine Engines, Agricultural Machinery & Equipment Subject product
ranges are as follows: - Industrial Engines Vertical Engines, Air-Cooled Engines, Horizontal Engines, Diesel Generators; Power Products Generators, Welders, Pumps; Marine Engines Small-Size Engines For: Pleasure Boats, Fishery Boats, Sail Drive Units, For Life Boats, Other; Large-Size Engineers: Propulsion Engines, Auxiliary Engines, Marine Compressors Agricultural Machinery Tractors, Combine, Rice Transplanters, Tiller Transporters, Lawn Mowers, Snow Throwers, Rice Hulling Machines, Tractors |
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No of Employees : |
3,314 |
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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source : CIA |
YANMAR CO LTD
Yanmar KK
Umeda Gate Tower, 1-9
Tsurunocho Kitaku Osaka 530-0014 JAPAN
Tel:
06-6376-6211 Fax: 06-6376-2455
E-Mail address: info@yanmar.co.jp
Mfg of
diesel engines, agricultural/marine/industrial machinery
Tokyo,
Sapporo, Sendai, Nagoya, Osaka, Takamatsu, Hiroshima, Fukuoka, Okinawa (Tot 9)
Asia
(6), N America (3), Europe (6), Russia, S America, Africa (--subsidiaries)
Shiga
(3), Amagasaki, other (Tot 8)
TAKEHITO
YAMAOKA, CH & PRES
Yasuyuki Yamaoka, v ch Gakuto Suzuki, v pres
Hiroshi Karita, s/mgn dir Yasunori Nakane, s/mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 338,665 M
PAYMENTSNo Complaints
CAPITAL Yen 6,300 M
TREND STEADY WORTH Yen 71,818 M
STARTED 1936 EMPLOYES 3,314
MFR SPECIALIZING IN DIESEL ENGINES AND AGRICULTURAL
MACHINERY.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
This is a leading diesel engine mfr based in Osaka. Also manufactures agricultural machinery and equipment (see OPERATION). In Apr 2013 founded a holding company, Yanmar Holdings Co Ltd, and became its wholly owned subsidiary. Products are widely exported with export ratio accounting for about 40% of total sales. Products are manufactured by group factories. Distribution is also handled by the group firms in major areas. Group general trading houses handle exports and imports. Active in overseas operations, with particular stress in China.
The sales volume for Mar/2014 fiscal term amounted to Yen 338,665 million, an 11% up from Yen 305,754 million in the previous term. Exports of used machinery & agricultural equipment were robust particularly into China. The recurring profit was posted at Yen 16,988 million and net profit at Yen 14,367 million, respectively, compared with Yen 11,866 million recurring profit and Yen 7,254 million net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected at Yen 17,500 million and net profit at Yen 15,000 million, respectively, on a 5% rise in turnover, to Yen 355,600 million. Exports & overseas production continue steady & rising.
The financial situation is considered maintained FAIR and
should be good for ORDINARY business engagements.
Date Registered: Jan
1936
Regd No.: 1200-01-071567
(Osaka-Kitaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 49.6 million shares
Issued:
12.6 million shares
Sum: Yen 6,300
million
Major
shareholders (%): Yanmar Holdings Co Ltd* (100)
*.. Holding Company, founded 2013, capital Yen 90 million, sales Yen 650,790 million, operating profit Yen 43,550 million, recurring profit Yen 44,866 million, net profit Yen29,861 million, total assets Yen 588,551 million, net worth Yen 163,236 million, employees 16,055, pres Takehito Yamaoka, concurrently
Nothing detrimental is knows as to the commercial morality of executives.
Activities: Manufactures industrial engines, marine engines, agricultural machinery & equipment, others (--100%).
(Handling Items):
Industrial Engines: vertical engines, air-cooled engines, horizontal engines, diesel generators;
Power Products: generators, welders, pumps;
Marine Engines: small-size engines for: pleasure boats, fishery boats, sail drive units, for life boats, other; large-size engineers: propulsion engines, auxiliary engines, marine compressors;
Agricultural Machinery: tractors, combine, rice transplanters, tiller transporters, lawn mowers, snow throwers, rice hulling machines, tractors, other.
Overseas Sales Ratio (42%).
Clients: [Mfrs, wholesalers] Yanmar Agricultural Equipment, Seirei Ind, Yanmar Energy System
(--all group firms), Sumitomo Corp, Mitsubishi Corp, Yanmar Marine System, other.
Goods are exported to worldwide destinations.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Seirei Ind, Bridgestone Tire Kyoji Hambai, Matsue Diesel,
Kanzaki Kokyu Koki Mfg, Yanmar Casting Technology, Yanmar Engineering, Daichu Co, other.
Payment record: No Complaints
Location: Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Resona Bank (Osaka)
MUFG (Osaka)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/3013 |
31/03/3012 |
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Annual
Sales |
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355,600
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338,665
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305,754
|
311,668
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Recur.
Profit |
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17,500 |
16,988 |
11,866 |
7,006 |
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Net
Profit |
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15,000 |
14,367 |
7,258 |
3,711 |
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Total
Assets |
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331,643
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323,077
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309,976
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Current
Assets |
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145,699
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152,435
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130,467
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Current
Liabs |
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175,142 |
167,413 |
131,215 |
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Net
Worth |
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71,818 |
57,180 |
49,352 |
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Capital,
Paid-Up |
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6,300 |
6,300 |
6,300 |
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Div.Ttl
in Million (¥) |
|
|
164 |
164 |
164 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.00 |
10.76 |
-1.90 |
6.00 |
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Current Ratio |
.. |
83.19 |
91.05 |
99.43 |
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N.Worth Ratio |
.. |
21.66 |
17.70 |
15.92 |
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R.Profit/Sales |
4.92 |
5.02 |
3.88 |
2.25 |
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N.Profit/Sales |
4.22 |
4.24 |
2.37 |
1.19 |
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Return On Equity |
.. |
20.00 |
12.69 |
7.52 |
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Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.79 |
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UK Pound |
1 |
Rs.102.66 |
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Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
-- |
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.