|
Report Date : |
21.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
DENGENSHA MFG CO LTD |
|
|
|
|
Registered Office : |
1-23-1 Masugata Tamaku
Kawasaki Kanagawa-Pref 214-0032 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2014 (Estimated) |
|
|
|
|
Date of Incorporation : |
15.05.1951 |
|
|
|
|
Com. Reg. No.: |
0200-01-064442
(Kawasaki-Tamaku) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
· Engaged in Designing, Development, Manufacturing & Incidental Services of Resistance Welders & Related Accessories · Subject product ranges includes Spot Welders, Projection Welders, Seam Welders, Flash Welders, Condenser-Type Welders, Net & Bolt Feeders, Potable Transformers, Multi-Transformers, Timer Contactors, Servo-Spot Guns, Guns For Robot, Portable Guns, Multi Guns, and a comprehensive range of Cables, Electrodes & Weld Quality Control Devices |
|
|
|
|
No of Employees : |
184 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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 |
DENGENSHA MFG CO LTD
Dengensha
Seisakusho KK
1-23-1 Masugata
Tamaku Kawasaki Kanagawa-Pref 214-0032 JAPAN
Tel:
044-922-1121
Fax: 044-922-1100
URL: http://www.dengensha.co.jp
E-Mail address: info@dengensha.co.jp
Engaged in Designing,
Development, Manufacturing & Incidental Services of Resistance Welders
& Related Accessories
Gunma,
Kariya (Aichi), Osaka, Hiroshima, Kitakyushu
USA,
Indonesia, Europe
At the
caption address, Toyama; Indonesia
YOSHIJIRO
TOMONO, PRES Jun’ichi
Shimizu, ch
Masato
Furutachi, mgn dir Shuichi
Kujamoto, dir
Susumu
Okazaki, dir Yoshihiko
Ochiai, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 4,880 M
PAYMENTS No
Complaints CAPITAL Yen 128 M
TREND UP WORTH Yen 1,564 M
STARTED 1951 EMPLOYES 184
MFR OF WELDING MACHINES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by father of Jun’ichi Shimizu in order to make most of his experience in the subject line of business. This is a specialized mfr of welding machines, equipment (See OPERATION). Has mfg base in Jakarta (Indonesia), from where the products are exported to S/E Asian countries. Clients include major car makers domestically.
The sales volume for Mar/2013 fiscal term amounted to Yen 4,880 million,
a 21% up from Yen 4,040 million in the previous term. Car makers came back to normality and
increasing production in and out.
Exports were robust. Production
in Indonesia increased. The recurring
profit was posted at Yen 691 million and the net profit at yen 592 million,
respectively, compared with Yen 328 million recurring profit and Yen 369
million net profit, respectively, a year ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 690 million and the net profit at Yen 600 million, respectively, on a 3%
rise in turnover, to Yen 5,050 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: 15 May 1951
Regd No.: 0200-01-064442 (Kawasaki-Tamaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 10,240,000
shares
Issued:
2,560,000 shares
Sum: Yen 128 million
Major shareholders (%): Marubeni Corp (15), Eiji Kameya
(7), Ryuji Nakamura (6), Resona Bank (5), Yoichi Masuko (4)
No. of shareholders: 208
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures welding machines,
equipment, attachments, others (--100%)
(Mfg items): spot welders, projection welders, seam
welders, flash welders, condenser-type welders, net & bolt feeders, potable
transformers, multi-transformers, timer contactors, servo-spot guns, guns for
robot, portable guns, multi guns, and a comprehensive range of cables,
electrodes & weld quality control devices
Clients: [Mfrs, wholesalers] Toyota Motor,
Mazda Motor, Nissan Motors, Hitachi Automotive Systems, Unipres Corp, Fuji
Heavy Ind, Mitsubishi Motor, Yachiyo Ind Co, Dengensha America Corp, other
No. of
accounts: 250
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] THK, Eichi
Corporation, Nishida Kinzoku Ltd, Natsume Co, Kikuchi Electric Co, Fujitsu
Telecom Network Service System Co, Nippon System Co, Marubeni Machine Tools,
Ohtsuka Tekkosho, other
Payment record: No
Complaints
Location:
Business area in Kawasaki. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Resona
Bank (Shintoshin)
Bank
of Yokohama (Noborito)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
5,050 |
4,880 |
4,040 |
3,255 |
|
Recur.
Profit |
|
690 |
671 |
328 |
-134 |
|
Net
Profit |
|
600 |
592 |
369 |
-203 |
|
Total
Assets |
|
|
6,533 |
6,093 |
5,400 |
|
Current
Assets |
|
|
2,906 |
2,535 |
1,723 |
|
Current
Liabs |
|
|
1,525 |
1,558 |
3,158 |
|
Net
Worth |
|
|
1,564 |
954 |
593 |
|
Capital,
Paid-Up |
|
|
128 |
128 |
128 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.48 |
20.79 |
24.12 |
41.89 |
|
|
Current Ratio |
.. |
190.56 |
162.71 |
54.56 |
|
|
N.Worth Ratio |
.. |
23.94 |
15.66 |
10.98 |
|
|
R.Profit/Sales |
13.66 |
13.75 |
8.12 |
-4.12 |
|
|
N.Profit/Sales |
11.88 |
12.13 |
9.13 |
-6.24 |
|
|
Return On Equity |
.. |
37.85 |
38.68 |
-34.23 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.28 |
|
UK Pound |
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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.