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Report No. : |
317573 |
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Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
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Name : |
YAMABISHI CORPORATION |
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Registered Office : |
2-4-18 Omori-Kita Ohtaku Tokyo 143-0016 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
March 1958 |
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Com. Reg. No.: |
015499 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures power supply & parts: circle changer, DC/AC inverter,
battery charge – discharge devices, high voltage power supply, voltage
regulator/transformer, electric measuring instruments, uninterruptible power
supply (UPS), DC power supply, automatic voltage regulator, load equipment,
other (--100%). |
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No. of Employees : |
70 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
Slow but correct |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
YAMABISHI
CORPORATION
KK Yamabishi
2-4-18 Omori-Kita Ohtaku Tokyo 143-0016 JAPAN
Tel: 03-3767-8861 Fax:
03-3767-7080
URL: http://www.yamabishi.co.jp/
E-mail: info@yamabishi.co.jp
ACTIVITIES: Mfg of power supply
BRANCHES: Nagoya, Osaka
FACTORIES: Ebina (Kanagawa)
OFFICER(S): KAZUNORI HASUIKE, PRES
Tetsuro Tsuboi,
dir
Yen Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,099 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 30 M
TREND UP WORTH Yen 217 M
STARTED 1958 EMPLOYES 70
COMMENT: MFR SPECIALIZING IN POWER SUPPLY FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMENTS: US$300,000 FOR O/A 90 DAYS
The subject company was established originally in 1939 by father of
Kazunori Hasuike, on his account, in order to make most of his experience in
the subject line of business. Originally
the firm was selling electric equipment & parts. Incorporated in 1958, the firm switched
operations to the mfg of power supply & parts. Products manufactured are: circle changer,
DC/AC inverter, high voltage power supply, uninterruptible power supply (UPS),
other (See OPERATION). Clients include electronics makers,
electricity makers, and other mfrs, nationwide
The sales volume for Mar/2014 fiscal term amounted to Yen 1,093 million,
a 7% up from Yen 1,021 million in the previous term. The recurring profit was posted at Yen 108
million and the net losses at Yen 41 million, respectively, compared with Yen
50 million recurring profit and Yen 11 million net profit, respectively, a year
ago. Material price hikes ate into
profits.
For the term that ended Mar 2015 the recurring profit was projected at
Yen 115 million and the net profit at Yen 30 million, respectively, on a 5%
rise in turnover, to Yen 1,150 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Mar
1958
Regd No.: (Tokyo-Ohtaku) 015499
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 240,000 shares
Issued: 60,000 shares
Sum: Yen 30 million
Major shareholders
(%):
Kazunori Hasuike & families (--100%)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
power supply & parts: circle changer, DC/AC inverter, battery charge –
discharge devices, high voltage power supply, voltage regulator/transformer,
electric measuring instruments, uninterruptible power supply (UPS), DC power
supply, automatic voltage regulator, load equipment, other (--100%).
Clients: [Electronic
makers, wholesalers] Toshiba System Technology, Japan Aerospace Exploration
Agency, Kokosha Co, Fuji Electric Systems, Meiji Electric Ind, Ryoden Trading,
Nihon Denkei, Ryosan Co, Yokogawa & Co, Shikoku Kakoki Co, Yokogawa &
Co, Electric Power Development Co, Nishikawa Keisoku Co, Shikoku Kakoki Co,
Inaba Denki Sangyo, Senshu Electronics, Omron Relay & Device Corp, other
No. of accounts: 600
Domestic areas of activities: Nationwide
Suppliers [Mfrs, wholesalers]
Ryosan, Ryoden Trading, Yoshimi Trading, Kyodo Denki Co, Miyoshi Electronics,
Hitachi Kasei Shoji, Futaba Kogyo, Shinwa Denshi, Sakamoto Koki Co, Hamasonic
Co, Higashi Electronics Ind, Panasonic Corp, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Bank of Yokohama (Omori)
Resona Bank (Toranomon)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual Sales |
|
1,150 |
1,093 |
1,021 |
997 |
|
Recur. Profit |
|
115 |
108 |
50 |
68 |
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Net Profit |
|
30 |
-41 |
11 |
24 |
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Total Assets |
|
|
1,599 |
1,647 |
1,598 |
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Current Assets |
|
|
754 |
651 |
591 |
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Current Liabs |
|
|
211 |
256 |
202 |
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Net Worth |
|
|
217 |
259 |
247 |
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Capital, Paid-Up |
|
|
30 |
30 |
30 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
5.22 |
7.05 |
2.41 |
-8.70 |
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Current Ratio |
|
.. |
357.35 |
254.30 |
292.57 |
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N.Worth Ratio |
|
.. |
13.57 |
15.73 |
15.46 |
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R.Profit/Sales |
|
10.00 |
9.88 |
4.90 |
6.82 |
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N.Profit/Sales |
|
2.61 |
-3.75 |
1.08 |
2.41 |
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Return On Equity |
|
.. |
-18.89 |
4.25 |
9.72 |
Notes: Forecast (or estimated) figures for the 31/03/2015 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.91.05 |
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Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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 |
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-- |
NB |
New Business |
-- |
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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.