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Report Date : |
19.03.2014 |
IDENTIFICATION DETAILS
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Name : |
YONE CORPORATION |
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Registered Office : |
23 Nishinakaaicho Nishinokyo Sakyoku Kyoto 604-8441 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2013 |
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Date of Incorporation : |
October, 1953 |
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Com. Reg. No.: |
1300-01-023084 (Kyoto-Nakagyoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of fire-fighting equipment |
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No. of Employees : |
48 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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 |
YONE CORPORATION
REGD NAME: Yone KK
MAIN OFFICE: 23 Nishinakaaicho Nishinokyo Sakyoku Kyoto
604-8441 JAPAN
Tel:
075-821-1185
Fax: 075-801-2263
E-Mail address: (thru the URL)
Mfg of fire-fighting equipment, attachments
Tokyo
At the caption address, Kyoto (Tot 2)
TOYOHIKO YONEDA, PRES Hyoe
Takamuro, mgn dir
Kenji Katoh, dir Teruo
Okushima, dir
Osamu Nishimura, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,157 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
30 M
TREND UP WORTH Yen 1,146 M
STARTED 1953 EMPLOYES 48
MFR OF FIRE-FIGHTING EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established originally in 1941 by Rikizo Yoneda
for mfg fire-fighting equipment, on his account. Incorporated in 1953 the firm has been succeeded
by his descendants. Toyohiko is his son,
who took the pres office in 1987. This
is a specialized mfr of fire-fighting equipment and attachments.
Financials are only partially disclosed.
Profits are not disclosed precisely and are only estimated.
The sales volume for May/2013 fiscal term amounted to Yen 2,157 million,
a 17% up from Yen 1,844 million in the previous term. Demand increased from a new client of
nuclear-related business operations. The
net profit is estimated posted at Yen 91 million, compared with Yen 78 million
a year ago.
For the current term ending May 2014 the net profit is projected at Yen
95 million, on a 4% rise in turnover, to Yen 2,250 million.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: Oct 1953
Regd No.: 1300-01-023084 (Kyoto-Nakagyoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240,000 shares
Issued:
60,000 shares
Sum: Yen 30 million
Major shareholders
(%): Toyohiko Yoneda (50), Rikizo Yoneda (20)
No. of
shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Manufactures
fire-fighting & disaster prevention machines/equipment, fluid conveyance
devices, and attachments (couplings, nozzles, valves, cocks, pipe joints,
other) (--100%).
Clients: [Mfrs,
wholesalers] Morita Econos Corp, Kinpai Corp, Nihon Kikai Kogyo Co, Nippon
Dry-Chemical Co, Yoshitani Kikai-Seisakusho Inc, Shin Meywa Ind, GM Ichihara
Ind, Teikoku Sen-I Co, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Keika Co, Kida Valve Ball Co, Yamada Mfg Co, Matsuda Kinzoku Kogyo, Asahi Denki
Seiko, other
Payment record: No complaints
Location: Business area in
Kyoto. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Bank of
Kyoto (H/O)
SMBC
(Kinshicho)
Relations:
Satisfactory
|
Terms Ending: |
|
31/05/2014 |
31/05/2013 |
31/05/2012 |
31/05/2011 |
|
Annual Sales |
|
2,250 |
2,157 |
1,844 |
1,676 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
95 |
91 |
78 |
71 |
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Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
1,146 |
1,083 |
1,029 |
|
Capital, Paid-Up |
|
|
30 |
30 |
30 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.31 |
16.97 |
10.02 |
-15.91 |
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Current Ratio |
.. |
.. |
.. |
||
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N.Worth Ratio |
.. |
.. |
.. |
||
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N.Profit/Sales |
4.22 |
4.22 |
4.23 |
4.24 |
|
Notes: Financials are only partially disclosed. Profits are not precisely disclosed and only
estimated.
Forecast (or estimated) figures for the 31/05/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.95 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.89 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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 |
|
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 |
|
<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.