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Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ISHIDA CO LTD |
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|
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Registered Office : |
44 Sannocho-Shogoin Sakyoku |
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|
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Country : |
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|
|
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Financials (as on) : |
13.03.2014 |
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Date of Incorporation : |
October 1948 |
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Com. Reg. No.: |
1300-01-005893 |
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Legal Form : |
Limited Company |
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|
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Line of Business : |
Manufacturing of weighing/measuring instruments |
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No. of Employees : |
1,340 |
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 |
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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 – 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 |
ISHIDA CO LTD
REGD NAME: KK Ishida
MAIN OFFICE: 44 Sannocho-Shogoin Sakyoku Kyoto 606-8392
Tel: 075-771-4141 Fax: 075-751-0747
URL: http://www.ishida.co.jp
E-Mail address: info@ishida.co.jp
Mfg of weighing/measuring instruments
Tokyo, Osaka, Niigata, Chiba, Yokohama, Shizuoka, other
(Tot 33)
32 nationwide
Europe (7), Brazil, Argentina, Korea, China, Thailand,
Philippines, Malaysia,
India, USA (3), Canada, UAE, South Africa, other
(--subsidiaries) (Tot 21)
Shiga; UK, Korea, China, Brazil,
TAKAHIDE ISHIDA, PRES Seiichi
Ueno, s/mgn dir
Shogo Kato, mgn dir Hirokazu
Satoh, dir
Yoshikatsu Nakagawa, dir Minoru
Takai, mgn dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 62,761 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 99 M
TREND STEADY WORTH Yen 51,392 M
STARTED 1948 EMPLOYES 1,340
MFR SPECIALIZING IN
WEIGHING/MEASURING EQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established
originally in 1893 by Otokichi II Ishida, on his account. Incorporated in 1948 the firm has been
succeeded by his descendants. This is a
specialized mfr of weighing, packaging and measuring instruments for industrial
& commercial use. Nation’s top maker
of weighing and packaging equipment, with 80% market share for industrial use
and 50% for commercial use. Boasts
debt-free management. Active in overseas
markets with 4 mfg plants in UK, Korea, China and Brazil, and sales/maintenance
subsidiaries in Thailand, Malaysia, USA, Canada, India, Europe, other. Clients include supermarkets, department
stores, food processors, convenience stores, etc, nationwide.
The sales volume for Mar/2014
fiscal term amounted to Yen 62,761 million, an 8% up from Yen 58,206 million in
the previous term. Demand rose in China
and other S/E Asian countries. The
Vietnam Office, opened in 2010, contributed to the sales growth. The recurring profit was posted at Yen 9,127
million and the net profit at Yen 5,506 million, respectively, compared with
Yen 7,133 million recurring profit and Yen 4,234 million net profit,
respectively, a year ago.
For the current term ending
Mar 2015 the recurring profit is projected at Yen 9,200 million and the net
profit at Yen 5,600 million, respectively, on a 1% rise in turnover, to Yen
63,500 million. Business is seen
expanding steadily.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: Oct 1948
Regd No.:
1300-01-005893 (Kyoto-Sakyoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7.9 million shares
Issued: 1.99 million shares
Sum: Yen 99 million
Major
shareholders (%): Ryuichi Ishida (16.5), Takahide
Ishida I (4.1), other
No. of shareholders: 57
Nothing detrimental is known as to the commercial morality
of executives.
Activities: Manufactures weighing & packaging equipment for industrial use (56%), for commercial use (44%).
Exports: 29%
(Handling Items):
Weighing/Packaging: multihead weigher, snack food bagmaker, case packer,
conveyor;
Inline Inspection: check weigher, metal detector, X-ray inspection systems, seal cheker;
Retail Systems: counter top scale printer, price computing scale, counter top label printer, automatic wrapper, scale printer for prepack, software tools for retail systems;
Food Processing: automatic wrapper, weigh price labeler, information multi scale;
Factory Automation: platform scale, information multi scale, compact scale, automatic labeler, parts packer;
Logistic Systems: weighing/cubing, other.
Clients: Supermarket chains, convenience stores, consumer coops, food processors, department stores, farm coops, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] NEC Infrontia Corp, Fujitsu Ltd, TDK, Oriental Motor,
Takebishi Electric Sales, TEC, Sanken Electric Co, 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 (Kyoto)
Relations: Satisfactory
(IN MILLION YEN)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
63,500 |
62,761 |
58,206 |
56,109 |
|
Recur.
Profit |
|
9,200 |
9,127 |
7,133 |
3,269 |
|
Net
Profit |
|
5,600 |
5,586 |
4,234 |
2,158 |
|
Total
Assets |
|
|
73,831 |
64,377 |
58,825 |
|
Current
Assets |
|
|
55,130 |
47,692 |
41,888 |
|
Current
Liabs |
|
|
18,264 |
14,880 |
13,599 |
|
Net
Worth |
|
|
51,392 |
45,863 |
41,686 |
|
Capital,
Paid-Up |
|
|
99 |
99 |
99 |
|
Div.Ttl
in Million (¥) |
|
|
57.6 |
57.6 |
43.4 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
1.18 |
7.83 |
3.74 |
7.99 |
|
Current Ratio |
|
.. |
301.85 |
320.51 |
308.02 |
|
N.Worth Ratio |
|
.. |
69.61 |
71.24 |
70.86 |
|
R.Profit/Sales |
|
14.49 |
14.54 |
12.25 |
5.83 |
|
N.Profit/Sales |
|
8.82 |
8.90 |
7.27 |
3.85 |
|
Return On Equity |
|
.. |
10.87 |
9.23 |
5.18 |
Note: Forecast (or estimated) for the 31/03/2015 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.42 |
|
|
1 |
Rs.99.72 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.