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Report Date : |
26.06.2014 |
IDENTIFICATION DETAILS
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Name : |
HAMADA HEAVY
INDUSTRIES LTD |
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Registered Office : |
1-1-36 Makiyama Tobataku Kitakyushu
Fukuoka-Pref 804-0053 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2014 (Estimated) |
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Date of Incorporation : |
June 1950 |
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Com. Reg. No.: |
2908-01-003064
(Kitakyushu-Tobataku) |
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Legal Form : |
Limited Company |
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Line of Business : |
· Subject is an Engineering Company · Manufacturer of Steel Products, Engineering Works, Silicon, Silicon Wafers & Recycling of Sludge/Dusts. ·
Engaged in development
and operation of equipment and various tasks involved
in the iron and Steel Process
Blast Furnace, Converter, such as Electric Furnace |
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No of Employees : |
1,786 |
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 |
HAMADA HEAVY INDUSTRIES LTD
Hamada Jyuko KK
1-1-36 Makiyama
Tobataku Kitakyushu Fukuoka-Pref 804-0053 JAPAN
Tel:
093-883-0369 Fax: 093-882-2768
URL: http://www.hamada-hi.co.jp
E-Mail address: info@hamada-hi.co.jp
· Subject is an Engineering Company
· Manufacturer of Steel Products, Engineering Works, Silicon, Silicon Wafers & Recycling of Sludge/Dusts.
·
Engaged in development
and operation of equipment and various tasks involved in
the iron and Steel Process Blast
Furnace, Converter, such as Electric Furnace
Tokyo,
Osaka, Yahata, Hikari, Oita, Kakogawa, Sakai, other (Tot 7)
Malaysia,
Taiwan
At the
caption address, Kitakyushu, Kumamoto (Tot 3)
YUTAKA
MATSUMOTO, PRES Michio Shigeki, mgn dir
Hirofumi
Isonaga, mgn dir Takashi
Murayama, dir
Yasuyuki
Momoi, dir Akinori Shin,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 26,135 M
PAYMENTS No
Complaints CAPITAL Yen 326 M
TREND SLOW WORTH Yen
18,796 M
STARTED 1950 EMPLOYES 1,786
ENGINEERING WORKS, MFR OF STEEL PRODUCTS, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1898 by Yonejiro Hamada, on his account, for cutting works of iron steel for the then Yawata Steel (now Nippon Steel & Sumitomo Metal Corp), and was incorporated in 1950 by Misuji Hamada. Yutaka is his son, who took the pres office in Sept 2004. This is an engineering company, specializing in mfg of steel products for delivery to steel plants, recycling of sludge/dusts. Products are exported to China, other S/E Asian countries. Clients include major steel mfrs, other mfrs.
The sales volume for Jul/2013 fiscal term amounted to Yen 26,135 million, a 4% down from Yen 27,233 million in the previous term. Unit prices of some of the steel products were down. Exports to China, other S/E Asian countries continued increasing. The recurring profit was posted at Yen 2,666 million and the net profit at Yen 1,698 million, respectively, compared with Yen 1,932 million recurring profit and Yen 1,041 million net profit, respectively, a year ago.
For the current term ending Jul 2014 the recurring profit is projected at Yen 2,800 million and the net profit at Yen 1,750 million, respectively, on a 5% rise in turnover, to Yen 27,500 million. The weaker Yen may raise the earnings in Yen terms. Exports continue rising.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Jun 1950
Regd No.: 2908-01-003064 (Kitakyushu-Tobataku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
2.6 million shares
Issued:
652,000 shares
Sum: Yen 326 million
Major shareholders (%): Kiku Shoji KK (23), Yohei Hamada
(22),Yutaka Matsumoto (19), Takachiho Shoko KK (18), Employees’ S/Holding Assn
(13), other
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures steel products (64%), engineering works, silicon, silicon wafers, recycling of sludge, other (36%)
(Breakdowns are all about)
Clients: [Steel mills, mfrs, wholesalers] Nippon Steel & Sumitomo Metal Corp, Nippon Steel & Sumikin Stainless Steel Corp, Mitsui Bussan Electronics, Elpida Memory, Nippon-Chemicon Corp, Toshiba Corp, Mitsubishi Heavy Ind, Kobe Steel, Osaka Steel Co, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Hamadatec Malaysia, Transport Approach, Uchimura Sanso Co,
Nittetsu Steel & Sumikin Bussan Corp, Suematsu Kyuki Co, Fuyo General Lease
Co, Ando Corp, Omori Kogyosho, other
Payment
record: No Complaints
Location:
Business area in Kitakyushu, Fukuoka-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank
References:
Mizuho Bank (Kitakyushu)
MUFG (Kitakyushu)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/07/2014 |
31/07/2013 |
31/07/2012 |
31/07/2011 |
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Annual
Sales |
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27,500 |
26,135 |
27,233 |
25,778 |
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Recur.
Profit |
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2,800 |
2,666 |
1,932 |
1,289 |
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Net
Profit |
|
1,750 |
1,698 |
1,041 |
1,155 |
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Total
Assets |
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29,545 |
29,176 |
29,981 |
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Current
Assets |
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15,396 |
13,542 |
13,280 |
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Current
Liabs |
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7,265 |
7,439 |
8,195 |
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Net
Worth |
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18,796 |
17,188 |
18,237 |
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Capital,
Paid-Up |
|
|
326 |
326 |
326 |
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Div.Ttl
in Million (¥) |
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|
90.4 |
90.4 |
90.2 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.22 |
-4.03 |
5.64 |
8.22 |
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Current Ratio |
.. |
211.92 |
182.04 |
162.05 |
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N.Worth Ratio |
.. |
63.62 |
58.91 |
60.83 |
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R.Profit/Sales |
10.18 |
10.20 |
7.09 |
5.00 |
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N.Profit/Sales |
6.36 |
6.50 |
3.82 |
4.48 |
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Return On Equity |
.. |
9.03 |
6.06 |
6.33 |
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Notes:
Forecast (or estimated) figures for the 31/07/2014 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.60.28 |
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UK Pound |
1 |
Rs.102.28 |
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Euro |
1 |
Rs.82.05 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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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 |
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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.