|
Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
YAMATO SCALE CO LTD |
|
|
|
|
Registered Office : |
5-22 Saenbacho Akashi City Hyogo-Pref 873-8688 |
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|
|
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Country : |
Japan |
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|
|
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
December 1945 |
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|
|
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of weighing machines |
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|
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No of Employees : |
434 |
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 338.7 million |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Regular |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
YAMATO SCALE CO LTD
REGD NAME: Yamato
Seiko KK
MAIN OFFICE: 5-22
Saenbacho Akashi City Hyogo-Pref 873-8688 JAPAN
Tel:
078-918-5507 Fax: 078-918-5551
URL: http//:www.yamato.scale.co.jp
E-mail: info@yamato.scale.co.jp
Mfg of weighing
machines
Tokyo, Nagoya, Chiba,
Fukuoka
Europe (4), USA
(4), Korea, China, India, Dubai
At the caption
address
SHOZO KAWANISHI,
PRES Yoshihisa Kawanishi, v pres
Masaru Yamamoto, dir Taketoshi Okamura, dir
Takeyoshi Nagao, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 14,998 M
PAYMENTSREGULAR CAPITAL Yen
497 M
TREND UP WORTH Yen 5,545 M
STARTED 1945 EMPLOYES 434
MFR OF WEIGHING
MACHINES
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT:
YEN 338.7 MILLION, 30 DAYS NORMAL TERMS
The subject
company was established on the basis of a weighing machine division separated from
Kawanishi Kikai KK, machine tool mfr, Hyogo-Pref. Specializes in mfg weighing machines: digital
scale, filling multi-head scale, other.
Machines are for industrial & household uses. Clients include food processors, steel mfrs,
metal industries, heavy machinery makers, other, nationwide.
The sales volume
for Mar/2014 fiscal term amounted to Yen 14,998 million, an 8% up from Yen
13,906 million in the previous term. The
recurring profit was posted at Yen 1,209 million and the net profit at Yen 857
million, respectively, compared with Yen 618 million recurring profit and Yen
655 million net profit, respectively, a year ago.
For the current
term ending Mar 2015 the recurring profit is projected at Yen 1,250 million and
the net profit at Yen 900 million, respectively, on a 3% rise in turnover, to
Yen 15,500 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 338.7
million, on 30 days normal terms.
Date Registered: Dec 1945
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 39
million shares
Issued:
9.94 million
shares
Sum: Yen
497 million
Major shareholders
(%):
Yoshihisa
Kawanishi (12.5), Shozo Kawanishi (5.3), Tami Kawanishi (5.2), Hisanari
Kawanishi (5.2), SMBC (4.9), Mizuho Bank (4.9), Meiji Yasuda Life (4.0)
No. of shareholders: 480
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
weighing machines: digital scale, filling multi-head scale, other machines; for
industrial use (86%), for household & other uses (--14%).
Export
(25%)
Clients: [Mfrs,
wholesalers] Bridgestone Corp, Calbee Foods, Sumitomo Metal Ind, Komatsu Ltd,
Nippon Steel, Public Agencies, Yamato Corp, Yamato Scale, Sumitomo Rubber Ind,
Asahi Glass, other.
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] NDK, Okazaki Koki, KSS, IST, Dainichi Mfg, Marubishi Co, Kuroda
Mfg, Izumi Co, Sumitomo Corp, Hitachi Ltd, other
Payment record: Regular
Location: Business area in
Akashi City, Hyogo-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank
References:
SMBC (Akashi)
Mizuho Bank (Kobe)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
15,500 |
14,998 |
13,906 |
13,109 |
|
Recur.
Profit |
|
1,250 |
1,209 |
618 |
380 |
|
Net
Profit |
|
900 |
857 |
655 |
374 |
|
Total
Assets |
|
|
14,678 |
13,641 |
13,586 |
|
Current
Assets |
|
|
10,929 |
9,832 |
9,748 |
|
Current
Liabs |
|
|
7,796 |
7,790 |
8,193 |
|
Net
Worth |
|
|
5,545 |
4,706 |
4,037 |
|
Capital,
Paid-Up |
|
|
497 |
497 |
497 |
|
Div.Ttl
in Million (¥) |
|
|
79 |
79 |
0.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.35 |
7.85 |
6.08 |
11.58 |
|
Current Ratio |
|
.. |
140.19 |
126.21 |
118.98 |
|
N.Worth Ratio |
|
.. |
37.78 |
34.50 |
29.71 |
|
R.Profit/Sales |
|
8.06 |
8.06 |
4.44 |
2.90 |
|
N.Profit/Sales |
|
5.81 |
5.71 |
4.71 |
2.85 |
|
Return On Equity |
|
.. |
15.46 |
13.92 |
9.26 |
Forecast (or estimated)
figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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.