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Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
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Name : |
SAKURAI GRAPHICS SYSTEMS CORPORATION |
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Registered Office : |
2-2-9 Fukuzumi Kotoku Tokyo 135-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 (Estimated) |
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Date of Incorporation : |
October, 1946 |
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Com. Reg. No.: |
0106-01-019959 (Tokyo-Kotoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of Offset Presses, Screen Presses, Peripherals (NST
Stacker, SST Side Stacker, UV Dryer & Screen Peripherals) |
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No. of Employees : |
197 |
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
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
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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. 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 |
SAKURAI GRAPHICS
SYSTEMS CORPORATION
KK Sakurai Graphics Systems
2-2-9 Fukuzumi Kotoku Tokyo 135-0032 JAPAN
Tel: 03-3643-1131 Fax:
03-3641-9663
URL: http://www.sakurai-gs.co.jp/
E-Mail address: info@sakurai-gs.co.jp
Manufacturer of Offset Presses, Screen Presses, Peripherals (NST
Stacker, SST Side Stacker, UV Dryer & Screen Peripherals)
Osaka, Nagoya, Fukuoka
UK, USA (--subsidiaries)
Gifu
RYUTA SAKURAI, PRES Yoshikuni Sakurai, ch
Jirota Sakurai, mgn dir Hideo Fujimoto, dir
Kiyoshi Tajima dir Hitoshi
Shimada, dir
Yen Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 10,177 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 367 M
TREND SLOW WORTH Yen 7,420 M
STARTED 1946 EMPLOYES 197
MFR SPECIALIZING IN PRINTING PRESS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1928 by Ryuzo Sakurai
for mfg printing press, on his account.
Incorporated in 1946, the firm has been succeeded by his
descendants. Yoshikuni is his son and
Ryuta his grandson. This is a leading
mfr of offset press, screen press & peripherals. Exports oriented with about 70% of the
products exported to over 60 countries in Europe, USA, S/E Asia, other. Two overseas offices, in UK and USA, function
as marketing bases in Europe and N America.
The sales volume for Mar/2013 fiscal term amounted to Yen 5,032 million,
a 3% drop from Yen 5,185 million in the previous term. Exports were hurt by the high Yen in the
first half of the term, reducing export revenues in Yen terms. The operations came back to profitability to
post Yen 182 million net profit, compared with Yen 240 net losses a year ago.
For the current term ending Mar 2014 the net profit is projected at Yen
200 million, on a 5% rise in turnover, to Yen 5,300 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Oct
1946
Regd No.: 0106-01-019959
(Tokyo-Kotoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 29 million shares
Issued: 7.34
million shares
Sum: Yen
367 million
Major shareholders
(%): Yoshikuni Sakurai (41.0), Employees’
S/Holding Assn (8.5), Nobuyasu Nishibe (7.7), Juroku Bank (5.0)
No. of
shareholders: 144
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
offset presses (42%), screen presses (39%), peripherals (NST stacker, SST side stacker,
UV dryer, screen peripherals), others (--192%).
Exports (49%): to over 60
countries worldwide
Clients: [Leasing
company, printing firms] Toshiba Finance, Sun Telephone, other.
Also exports to Europe, USA, S/E Asia, etc, to over 65 countries
worldwide.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Audio Technica, Uchida Techno, Fuji Kagaku Kikai, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Juroku Bank (Tokyo)
MUFG (Yaesudori)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
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Annual Sales |
|
5,300 |
5,032 |
5,185 |
6,263 |
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Recur. Profit |
|
200 |
182 |
-240 |
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Net Profit |
|
160 |
146 |
-236 |
-460 |
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Total Assets |
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|
14,503 |
15,371 |
16,308 |
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Current Assets |
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|
9,892 |
10,586 |
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Current Liabs |
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|
4,644 |
5,123 |
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Net Worth |
|
|
7,420 |
7,265 |
7,578 |
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Capital, Paid-Up |
|
|
367 |
367 |
367 |
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Div.P.Share(¥) |
|
|
7.50 |
7.50 |
7.50 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
5.33 |
-2.95 |
-17.21 |
3.04 |
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Current Ratio |
|
.. |
213.01 |
206.64 |
.. |
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N.Worth Ratio |
.. |
51.16 |
47.26 |
46.47 |
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R.Profit/Sales |
|
3.77 |
3.62 |
-4.63 |
.. |
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N.Profit/Sales |
3.02 |
2.90 |
-4.55 |
-7.34 |
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|
Return On Equity |
.. |
1.97 |
-3.25 |
-6.07 |
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Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
---- |
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.