|
Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SANYO CORPORATION |
|
|
|
|
Registered Office : |
1510 Tatsuishi Fujioka Gunma-Pref 375-0002 |
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|
|
|
Country : |
Japan |
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|
|
|
Financials (as on) : |
31.03.2013 |
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|
|
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Date of Incorporation : |
September 1975 |
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|
|
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Com. Reg. No.: |
0700-01-012416 |
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|
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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|
|
|
Line of Business : |
Manufacturing of injection molds, measuring apparatus, milling
machines |
|
|
|
|
No. of Employees |
130 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 |
SANYO
CORPORATION
REGD NAME: Sanyo
KK
MAIN OFFICE: 1510
Tatsuishi Fujioka Gunma-Pref 375-0002 JAPAN
Tel:
0274-42-5757 Fax: -274-42-6511
URL: http://www.sanyo-inc.co.jp
E-Mail address: e-mail@sanyo-inc.co.jp
Mfg of injection
molds, measuring apparatus, milling machines, other
Nil
At the caption address,
Gunma (4)
TADANAO TAKASE,
PRES
Katsumi Okamoto,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,313 M
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 92 M
TREND SLOW WORTH Yen 296 M
STARTED 1975 EMPLOYES 130
MFR OF INDUSTRIAL EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Tadanao Takase in order to make most
of his experience in the subject line of business. This is a specialized mfr chemical industry
materials, resin processing, plastic molds, measuring tools, milling machines,
other (See OPERATION). Also manufactures nursing care beds,
wheelchairs, other nursing care goods.
Goods are exported, too. Clients
include chemical industries, machinery makers, other
The sales volume for Mar/2013 fiscal term amounted to Yen 2,313 million,
a 16% down from Yen 2,758 million in the previous term. Exports were hurt by the high Yen, reducing
revenues & profits in Yen terms. The
recurring profit was posted at Yen 23 million and the net profit at Yen 15
million, respectively, compared with Yen 29 million recurring profit and Yen 18
million net profit, respectively, a year ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 25 million and the net profit at Yen 20 million, respectively, on a 4% rise
in turnover, to Yen 2,400 million. Final
results are yet to be released.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered:
Sept 1975
Regd No.:
0700-01-012416 (Gunma-Fujioka)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 736,000 shares
Issued: 184,000 shares
Sum: Yen 92 million
Major
shareholders (%): Tadanao Takahashi (32), Employees’ S/Holding Assn (25)
No. of shareholders: 9
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures and
processes: measuring instruments, clean rooms, CAD/CAM/CAE, NC machining
center, injection molds (electric, and automobile), milling machines, nursing
care beds, wheelchairs, nursing care goods, others (--100%)
Clients: [Mfrs,
wholesalers] Hitachi Ltd, Shin-Etsu Chemical Ind, NSK Ltd, Mitsubishi Pencil
Co, Yoshino Kogyosho, Shin-Etsu Semiconductors, Shin-Etsu Polymer, First Baking
Co, Nippon Kayaku Co, Schlunberger KK, Hitachi Hi-Technologies, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nichias Corp, Somar Corp, Fluoro Mechanic Co, Iwase Sangyo Co,
Kokuyo Kitakanto Sales Co, Nippon Valve Controls Inc, Mitani Sangyo Co, other
Payment record: Slow but correct
Location: Business area in
Fujioka, Gunma-Pref. Office premises at
the caption address are owned and maintained satisfactorily.
Bank References:
Towa Bank
(Fujioka)
Mizuho Bank
(Takasaki)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
2,400 |
2,313 |
2,758 |
2,853 |
|
Recur.
Profit |
|
25 |
23 |
29 |
108 |
|
Net
Profit |
|
20 |
15 |
18 |
48 |
|
Total
Assets |
|
|
2,727 |
3,260 |
3,127 |
|
Current
Assets |
|
|
1,128 |
1,595 |
1,341 |
|
Current
Liabs |
|
|
140 |
440 |
471 |
|
Net
Worth |
|
|
296 |
280 |
261 |
|
Capital,
Paid-Up |
|
|
92 |
92 |
92 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.76 |
-16.13 |
-3.33 |
43.08 |
|
|
Current Ratio |
.. |
805.71 |
362.50 |
284.71 |
|
|
N.Worth Ratio |
.. |
10.85 |
8.59 |
8.35 |
|
|
R.Profit/Sales |
1.04 |
0.99 |
1.05 |
3.79 |
|
|
N.Profit/Sales |
0.83 |
0.65 |
0.65 |
1.68 |
|
|
Return On Equity |
.. |
5.07 |
6.43 |
18.39 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.32 |
|
Euro |
1 |
Rs.83.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIS |
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.