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Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
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Name : |
AMADA CO LTD |
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Registered Office : |
200 Ishida Isehara Kanagawa-Pref 259-1196 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 (Consolidated) |
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Date of Incorporation : |
10.09.1946 |
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Com. Reg. No.: |
(Kanagawa-Isehara)
020895 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of Sheet Metal Processing Machinery
(including punching
machines, laser machines, blending machines, welding machines, shearing
machines & general fabrication machines) and Metal Processing
Machine Tools (including band saw machines, structural steel machines (drilling machines),
environment related products; stamping press, machines for cutting &
shaping metal blocks, used to process precision components, tools & dies)
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No. of Employees |
Consolidated : 7,840 (as of September 30,2013) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 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 exceeds 225% 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 |
AMADA CO LTD
KK Amada
200 Ishida Isehara
Kanagawa-Pref 259-1196 JAPAN
Tel:
0463-96-1111 Fax: 0463-96-3281
E-Mail address: info@amada.co.jp
Manufacturer of Sheet Metal Processing Machinery (including punching machines, laser machines, blending machines, welding machines, shearing machines & general fabrication machines) and Metal Processing Machine Tools (including band saw machines, structural steel machines (drilling machines), environment related products; stamping press, machines for cutting & shaping metal blocks, used to process precision components, tools & dies)
44
(domestic), 39 affiliates overseas
USA (4), Canada, Mexico, Europe
(14), China (8), Taiwan, Korea, Thailand (2),
Singapore (2), Malaysia, Vietnam, India (2), Australia (--subsidiaries)
Fujinomiya,
Odawara, Ono, Isehara
MITSUO
OKAMOTO, PRES & CEO
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 190,018 M
PAYMENTSNo Complaints
CAPITAL Yen 54,768 M
TREND UP WORTH Yen 385,102 M
STARTED 1948
EMPLOYES Consolidated : 7,840 (as of
September 30,2013)
Non-Consolidated : 2,503 (as of
September 30,2013)
MFR OF
METAL WORKING MACHINERY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
|
Business |
Terms Ending |
Annual
Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
|
Results: |
31/03/2010 |
135,979 |
-4,416 |
-3,739 |
(%) |
388,667 |
|
(Consolidated) |
31/03/2011 |
163,153 |
6,757 |
2,716 |
19.98 |
375,159 |
|
31/03/2012 |
185,539 |
10,440 |
4,643 |
13.72 |
371,969 |
|
|
31/03/2013 |
190,018 |
9,074 |
4,126 |
2.41 |
385,102 |
|
|
31/03/2014 |
242,000 |
18,500 |
11,000 |
27.36 |
.. |
Unit: In Million Yen
Forecast (or estimated) figures for 31/03/2012 fiscal term
This is a top-class mfr of metalworking machinery. Once specialized in marketing, but leading merged Amada Machines, machine tool manufacturing arm in Oct 2003, and restarted production. Largest maker of sheet metal processing machinery. Aggressively engaged in overseas production. The company plans to establish technical centers in India and Thailand by the end of March 2015 term. It aims to turn the center in Thailand into a hub to adjacent countries, in view of future increase in demand.
The sales volume for Mar/2013 fiscal term amounted to Yen 190,018
million, a 2.4% up from Yen 185,539 million in the previous term. The recurring profit was posted at Yen 9,074
million and the net profit at Yen 4,126 million, respectively, compared with
Yen 10,440 million recurring profit and Yen 4,643 million net profit,
respectively, a year ago
(Apr/Dec/2013 results): Sales Yen 163,582 million (up 28.7%), operating
profit Yen 5,085 million (up 636.2%), recurring profit Yen 8,886 million (up
176.9%), net profit Yen 5,415 million (up 663.5%). (% compared with the corresponding period a
year ago).
For the term that ended Mar 2014 the recurring profit was projected at
Yen 18,500 million and the net profit at Yen 11,000 million, respectively, on a
27.4% rise in turnover, to Yen 242,000 million.
The newly purchased MIYACHI CORP, will add Yen 20 billion and Yen 500
million to sales and operating profits, respectively. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Foundation Date : 10
September 1946
Date Registered: 01
May 1948
Regd No.: (Kanagawa-Isehara) 020895
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
550 million shares
Issued:
396,502,117 shares
Sum: Yen 54,768 million
Major shareholders
(%):
Japan Trustee Services T11.5), Master Trust Bank of Japan T (7.1), Mizuho Bank
(3.7), Company’s Treasury Stock (3.6), Trust & Custody Services, Trust
(3.3), Amada Foundation (2.5), Northern Trust (AVFC) British (2.2), Nippon Life
Ins (1.9), BNP Paribas Lux J Aberdeen G (1.5), Joyo Bank (1.4); foreign owners
(42.8)
No. of
shareholders: 16,538
Listed on the
S/Exchange (s) of: Tokyo
Managements: Mitsuo Okamoto,
pres & CEO; Toshio Takagi, s/mgn dir; Tsutomu Isobe, s/mgn dir: Atsushige
Abe, mgn dir; Kotaro Shibata, mgn dir; Takaya Shigeta, dir; Katsuhide Ito, dir
Nothing detrimental is known as to the commercial morality of executives.
Related companies: Amada North
America, Techno Wasino, Amada Prestech, Amada Cutting, Amada Machine Tool,
other
Activities: Manufacturer of
sheet metal processing machinery and metal processing machine tools
(Mfg Items):
Sheet Metal
Processing Machinery (79%): punching machines, laser machines, blending
machines, welding machines, shearing machines & general fabrication
machines;
Metal Processing
Machine Tools (20%): band saw machines, structural steel machines
(drilling machines), environment related products; stamping press, machines for
cutting & shaping metal blocks, used to process precision components, tools
& dies
Others (1%): Real estate
leasing, other
Overseas Sales
Ratio (50%)
Clients: [Mfrs,
wholesalers] Mitsui & Co, Toshiba Corp, Mitsubishi Electric, Fujitsu Ltd,
Nippon Steel, Nissan Motors, Amada Lease, Amada USA, Amada Machine Tool, Amada
Hong Kong, Amada Thailand, other.
No. of accounts: 800
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers]
Hitachi Metals, Fanuc Ltd, Metal One, Amada Soft Services, Techno Washino, NCC Co, THK, Amada
Tool Precision, Amada Engineering, NEC Fielding, other.
Payment record: No
Complaints
Location: Business area in
Isehara City, Kanagawa-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank
References:
Mizuho Bank (Shinjuku-Nishiguchi)
SMBC (H/O)
Relations: Satisfactory
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2013 |
31/03/2012 |
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INCOME STATEMENT |
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Annual Sales |
|
190,018 |
185,539 |
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Cost of Sales |
118,596 |
109,509 |
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GROSS PROFIT |
71,423 |
76,030 |
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Selling & Adm Costs |
68,953 |
67,339 |
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OPERATING PROFIT |
2,470 |
8,691 |
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Non-Operating P/L |
6,604 |
1,749 |
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RECURRING PROFIT |
9,074 |
10,440 |
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NET PROFIT |
4,126 |
4,643 |
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BALANCE SHEET |
||||
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Cash |
|
57,712 |
57,835 |
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Receivables |
119,336 |
109,240 |
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Inventory |
83,623 |
69,982 |
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Securities, Marketable |
19,525 |
29,016 |
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Other Current Assets |
20,845 |
18,981 |
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TOTAL CURRENT ASSETS |
301,041 |
285,054 |
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Property & Equipment |
118,437 |
109,555 |
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Intangibles |
7,006 |
6,392 |
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Investments, Other Fixed Assets |
68,965 |
68,835 |
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TOTAL ASSETS |
495,449 |
469,836 |
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Payables |
17,247 |
14,277 |
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Short-Term Bank Loans |
18,143 |
9,619 |
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Other Current Liabs |
53,106 |
52,828 |
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TOTAL CURRENT LIABS |
88,496 |
76,724 |
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Debentures |
200 |
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Long-Term Bank Loans |
3,505 |
4,230 |
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Reserve for Retirement Allw |
9,377 |
10,594 |
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Other Debts |
|
8,769 |
6,318 |
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TOTAL LIABILITIES |
110,347 |
97,866 |
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MINORITY INTERESTS |
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Common
stock |
54,768 |
54,768 |
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Additional
paid-in capital |
163,199 |
163,199 |
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Retained
earnings |
202,865 |
203,980 |
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Evaluation
p/l on investments/securities |
(2,504) |
(5,613) |
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Others |
(24,042) |
(35,212) |
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Treasury
stock, at cost |
(9,184) |
(9,153) |
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TOTAL S/HOLDERS` EQUITY |
385,102 |
371,969 |
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|
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TOTAL EQUITIES |
495,449 |
469,836 |
|
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CONSOLIDATED CASH FLOWS |
||||
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Terms ending: |
31/03/2013 |
31/03/2012 |
||
|
Cash
Flows from Operating Activities |
|
3,379 |
7,457 |
|
|
Cash
Flows from Investment Activities |
-15,867 |
-13,401 |
||
|
Cash
Flows from Financing Activities |
-775 |
-1,625 |
||
|
|
Cash,
Bank Deposits at the Term End |
|
63,847 |
74,428 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2013 |
31/03/2012 |
||
|
Net
Worth (S/Holders' Equity) |
385,102 |
371,969 |
||
|
Current
Ratio (%) |
340.17 |
371.53 |
||
|
Net
Worth Ratio (%) |
77.73 |
79.17 |
||
|
Recurring
Profit Ratio (%) |
4.78 |
5.63 |
||
|
Net
Profit Ratio (%) |
2.17 |
2.50 |
||
|
Return
On Equity (%) |
1.07 |
1.25 |
||
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
: |
SUB |
|
|
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|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
|
|
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 |
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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.