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Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
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Name : |
HAZAMA ANDO
CORPORATION |
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Registered Office : |
Kokusai Shin-Akasaka Bldg West, 6-1-20 Akasaka Minatoku Tokyo 107-8658 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
October 2003 |
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Legal Form : |
Limited Company |
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Line of Business : |
· Engaged in Civil engineering and building construction, including surveys, measurements, planning, designing, execution, supervising, technical guidance communicating, and consulting work; Engaged as Real estate transactions and the ownership and
use of real property; Engaged in Soil survey and purification work including the
collection, handling and disposal of wastes, and consulting work relating to
such business; Engaged in Planning, designing
and consulting work relating to
area development, urban development, and environmental improvements; Power
generation and electricity, thermal, and other energy supply business |
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|
|
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No of Employees : |
3,987 |
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 |
|
Maximum Credit Limit : |
Yen 5,960.3 Million |
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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 |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
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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 |
HAZAMA ANDO CORPORATION
KK Ando Hazama
Kokusai
Shin-Akasaka Bldg West, 6-1-20 Akasaka Minatoku Tokyo 107-8658 JAPAN
Tel: 03-6234-3600
URL: http://www.ad-hzm.co.jp
E-Mail address: (thru the URL)
Civil
engineering
49
locations nationwide
Asia
(8), USA, Mexico, Peru, Honduras, other
TOSHIAKI NOMURA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 371,216 M
PAYMENTS No
Complaints CAPITAL Yen 12,000 M
TREND UP WORTH Yen 54,381 M
STARTED 2003 EMPLOYES 3,987
CIVIL ENGINEERING COMPANY
FINANCIAL SITUATION COSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 5,960.3 MILLION, 30 DAYS NORMAL TERMS
|
Business |
Terms Ending |
Annual Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
|
Results: |
31/03/2011 |
196,701 |
2,654 |
1,560 |
(%) |
29,065 |
|
(Consolidated) |
31/03/2012 |
182,049 |
4,779 |
1,766 |
-7.45 |
30,557 |
|
|
31/03/2013 |
197,899 |
5,336 |
2,293 |
8.71 |
32,844 |
|
|
31/03/2014 |
371,216 |
11,258 |
16,414 |
87.58 |
54,381 |
|
|
31/03/2015 |
361,000 |
10,900 |
6,400 |
-2.75 |
.. |
Unit: In Million Yen
Forecast figures for the 31/03/2015
fiscal term.
This is a noted civil engineering firm with established reputation in dam and tunnel construction. Made new start as newly listed construction firm in Oct 2003 following setback brought about by bubble burst. Has good track record in overseas projects in S/E Asia. Merged with Ando Corp in Apr 2013. Development of new areas such as the vegetable growing system with Ibaraki Prefectural Government etc are strengthened.
The sales volume for Mar/2014 fiscal term amounted to Yen 371,216 million, an 87.6% up from Yen 197,899 million in the previous term. New orders of Yen 300 billion were performed from the plan at the beginning of the term. Works in hand, mainly profitable civil engineering, were steadily performed. The recurring profit was posted at Yen 11,258 million and the net profit at Yen 16,414 million, respectively, compared with Yen 5,336 million recurring profit and Yen 2,293 million net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected at Yen 10,900 million and the net profit at Yen 6,400 million, on a 2.8% fall in turnover, to Yen 361,000 million. New orders will be acquired steadily.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 5,960.3 million, on 30 days normal terms.
Date Registered: Oct
2003
Legal Status:
Limited Company (Kabushiki Kaisha
Authorized: 397,250,000 shares
Issued:
118,382,741 shares
Sum: Yen 12,000
million
Major shareholders (%): Japan Trustee Services Bank (9.9), Company’s Treasury Stock (6.8), Mizuho Bank (3.7), Master Trust Bank of Japan (2.7), HazamaG Customers’ S/Holding Assn (2.6), Group Employees’ S/Holding Assn (2.4), Asahi Life Ins (2.0), Ando Kensetsu Taka S/Holding Assn (1.6), Mitsubishi UFJ Trust Bank (1.5), Woolen Miyata Industry (0.9); foreign owners (7.1)
No. of shareholders: 36,540
Listed on the S/Exchange (s) of: Tokyo
Managements: Toshio Ono, ch; Toshiaki Nomura, pres; Mitsuaki Higo, v pres; Haruyuki Kaneko, v pres; Hisanori Ueno, s/mgn dir; Hikari Yamazaki, s/mgn dir; Hidekazu Kojima, s/mgn dir; Hisayoshi Kinoshita, mgn dir; Yoshinobu Okabe, dir; Hisanori Komiya, dir
Nothing detrimental is known as to the commercial morality of executives.
Related companies: Hazama Ando Kogyo Corp, Aoyama Kiko Co, other.
Activities: Civil engineering company: civil
engineering (46%), construction (45%), group companies-related (8%), others
(2%).
Overseas Sales Ratio (10%)
(Business Fields)
(1)
Civil engineering and building
construction, including surveys, measurements, planning, designing, execution,
supervising, technical guidance communicating, and consulting work;
(2)
Real estate transactions and the
ownership and use of real property;
(3)
Soil survey and purification work
including the collection, handling and disposal of wastes, and consulting work
relating to such business;
(4)
Planning, designing and consulting work
relating to area development, urban development, and environmental
improvements;
(5)
Power generation and electricity,
thermal, and other energy supply business
Clients: [Mfrs, wholesalers] Ministry of Land,
Infrastructure & Transportation, Tokyo Electric Power, JFE Engineering,
Kawasaki Life Corp, Central Nippon Expressway, Toshiba Corp, Sanyu Co, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Hazama Ando Kogyo
Corp, Aoyama Kiko Co, Maruiso Corp, Kibe Kensetsu, Kanax Co, Tonets Corp, other
Payment record: No
Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (H/O)
MUFG
(H/O)
Relations:
Satisfactory
(In Million Yen)
|
FINANCES: (Consolidated
in million yen) |
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|||
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Terms Ending: |
31/03/2014 |
31/03/2013 |
|
INCOME STATEMENT |
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||
|
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Annual Sales |
|
371,216 |
197,899 |
|
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Cost of Sales |
342,810 |
182,270 |
|
|
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GROSS PROFIT |
28,406 |
15,628 |
|
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Selling & Adm Costs |
16,328 |
10,015 |
|
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OPERATING PROFIT |
12,077 |
5,612 |
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Non-Operating P/L |
-819 |
-276 |
|
|
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RECURRING PROFIT |
11,258 |
5,336 |
|
|
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NET PROFIT |
16,414 |
2,293 |
|
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BALANCE SHEET |
|
|
|
|
|
|
Cash |
|
70,773 |
32,682 |
|
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Receivables |
|
111,297 |
55,474 |
|
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Inventory |
|
9,918 |
8,770 |
|
|
Securities, Marketable |
|
|
|
|
|
Other Current Assets |
13,981 |
11,697 |
|
|
|
TOTAL CURRENT ASSETS |
205,969 |
108,623 |
|
|
|
Property & Equipment |
28,710 |
18,715 |
|
|
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Intangibles |
|
1,202 |
320 |
|
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Investments, Other Fixed Assets |
24,765 |
14,221 |
|
|
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TOTAL ASSETS |
260,646 |
141,879 |
|
|
|
Payables |
|
100,169 |
54,647 |
|
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Short-Term Bank Loans |
26,302 |
9,927 |
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|
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|
|
|
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Other Current Liabs |
51,972 |
30,857 |
|
|
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TOTAL CURRENT LIABS |
178,443 |
95,431 |
|
|
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Debentures |
|
846 |
|
|
|
Long-Term Bank Loans |
11,945 |
4,578 |
|
|
|
Reserve for Retirement Allw |
13,943 |
8,672 |
|
|
|
Other Debts |
|
1,087 |
354 |
|
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TOTAL LIABILITIES |
206,264 |
109,035 |
|
|
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MINORITY INTERESTS |
|
|
|
|
|
Common
stock |
12,000 |
12,000 |
|
|
|
Additional
paid-in capital |
15,010 |
9,007 |
|
|
|
Retained
earnings |
27,603 |
11,664 |
|
|
|
Evaluation
p/l on investments/securities |
954 |
244 |
|
|
|
Others |
|
(1,091) |
26 |
|
|
Treasury
stock, at cost |
(95) |
(97) |
|
|
|
TOTAL S/HOLDERS` EQUITY |
54,381 |
32,844 |
|
|
|
TOTAL EQUITIES |
260,646 |
141,879 |
|
|
CONSOLIDATED CASH FLOWS |
|
|
||
|
|
|
Terms ending: |
31/03/2014 |
31/03/2013 |
|
|
Cash
Flows from Operating Activities |
|
7,484 |
7,933 |
|
|
Cash
Flows from Investment Activities |
3,593 |
-723 |
|
|
|
Cash
Flows from Financing Activities |
-53 |
-4,346 |
|
|
|
Cash,
Bank Deposits at the Term End |
|
70,024 |
32,659 |
|
ANALYTICAL RATIOS Terms ending: |
31/03/2014 |
31/03/2013 |
||
|
|
|
Net
Worth (S/Holders' Equity) |
54,381 |
32,844 |
|
|
|
Current
Ratio (%) |
115.43 |
113.82 |
|
|
|
Net
Worth Ratio (%) |
20.86 |
23.15 |
|
|
|
Recurring
Profit Ratio (%) |
3.03 |
2.70 |
|
|
|
Net
Profit Ratio (%) |
4.42 |
1.16 |
|
|
|
Return
On Equity (%) |
30.18 |
6.98 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.57 |
|
UK Pound |
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.