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Report No. : |
355184 |
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Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
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Name : |
MAKITECH CO., LTD |
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Registered Office : |
1-18, Nabehira Yatomi, Aichi 490-1406 |
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Country : |
Japan |
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Financial (as on) : |
31.03.2015 |
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Date of Incorporation : |
May 1974 |
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Com. Reg. No.: |
1800-01-022765 (Nagoya-Atsutaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures conveyers, FA (Factory Automation) system, labor saving
appliances, and others (--100%). |
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No. of Employee : |
463 |
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 : |
Good |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 an 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. Scarce in many natural resources, Japan has long been dependent on imported raw materials. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times since 2008. 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 of that year disrupted manufacturing. The economy has largely recovered in the four years since the disaster, although reconstruction in the affected Tohoku region has lagged, in part due to a shortage of labor in the construction sector. Japan enjoyed a sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s “Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of monetary easing, “flexible” fiscal policy, and structural reform. Abe’s government has replaced the preceding administration’s plan to phase out nuclear power with a new policy of seeking to restart nuclear power plants that meet strict new safety standards, and emphasizing nuclear energy’s importance as a base-load electricity source. Japan joined the Trans-Pacific Partnership (TPP) 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 2014 stood as the fourth-largest economy in the world after first-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012. While seeking to stimulate and reform the economy, the government must also devise a strategy for reining in Japan's huge government debt, which amounts to more than 230% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8% implemented in April 2014. That increase had a contractionary effect on GDP, however, so PM Abe in late 2014 decided to postpone the final phase of the increase until April 2017 to give the economy more time to recover. Led by the Bank of Japan’s aggressive monetary easing, Japan is making progress in ending deflation, but demographics - low birthrate and an aging, shrinking population - pose major long-term challenges for the economy.
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Source
: CIA |
MAKITECH CO., LTD
REGD NAME: KK MAKITECH
MAIN OFFICE: 1-18, Nabehira
Yatomi, Aichi 490-1406, Japan.
Tel: 81-52-681-3205 Fax:
81-52-681-3387
*.. Registered at: 1-9-21 Hataya Atsutaku
Nagoya
URL: http://www.makitech.co.jp
E-Mail address: (thru the URL)
Mfg of conveyers,
FA system, labor saving appliances, and
others.
Hokkaido, Sendai,
Niigata, Tokyo, Chiba, Osaka, Nagoya, Kyoto, (total of 78)
China, Taiwan, Malaysia
At the caption
address, Mie, Yamaguchi, Fukuoka, (total of 11)
HIROYUKI OONO,
PRES Shin’ichi Maki,
ch,
Akihiro Onishi, v
pres Toshihiro
Endo, s/mgn dir
Tsutomu Yoshioka,
mgn dir Shigeru Yokoi, mgn
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 23,149 M
PAYMENTSREGULAR CAPITAL Yen
79 M
TREND UP WORTH Yen 4,186 M
STARTED 1974 EMPLOYES 463
MFR SPECIALIZED IN CONVEYERS, FA SYSTEM, AND
LABOR-SAVING EQUIPMENT, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMTNTS: US$1,500,000 / O/A 90 DAYS TERMS
The subject company was established by Masao Maki in order to make most of his experience in the subject line of business. Renamed as captioned in Dec 1988. Originally started as mfg of spinning components and agricultural power generator. Business ranges from mfg, marketing, construction of conveyers, FA (Factory Automation) system, labor saving appliances, and others. Based in Aichi, but expanded operation nationwide, having 78 branch offices domestically. Goods are also exported.
The sales volume for Mar/2015 fiscal term amounted to Yen 23,149
million, a 9% up from Yen 21,220 million in the previous term. The recurring profit was posted at Yen 346
million and the net profit at Yen 213 million, respectively, compared with Yen
841 million recurring profit and Yen 309 million net profit, respectively, a
year ago.
For the current term ending Mar/ 2016 the
recurring profit is projected at Yen 360 million and the net profit at Yen 220
million, respectively, on a 5% rise in turnover, to Yen 24,300 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 391.2 million, on 30 days normal terms. The proposed credit amount for 90 days terms
is considered well within the firm’s financial capacities.
Date Registered: May 1974
Regd No.: 1800-01-022765 (Nagoya-Atsutaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 232,968 shares
Issued: 158,242 shares
Sum: Yen 79.121 millio16),
Major shareholders (%): Shinichi Maki (35), Company’s Treasury Stock
(16), Hisayo Maki (13), Masao Maki (10)
No.
of shareholders: 35
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
conveyers, FA (Factory
Automation) system, labor saving appliances, and others
(--100%).
Clients: [Mfrs,
wholesalers] Hanwa Co, Daido Corp, Tsubakimoto Kogyo Co, Trusco Nakayama, Yuasa
Corp, Murata Machinery, Mitsubishi Heavy Machinery, G-Net Corp, Teijin
Engineering, other
No. of accounts:
350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kyowa Mfg, Marubeni Itochu Steel, Ito Dendo Kogyo, Hikari Corp, Mitsubishi Steel Mfg, Hanwa Co, Iwatani Corp, other
Payment record: Regular
Location: Business area in
Yatomi City, Aichi-Pref. Office premises
at the caption address are owned and maintained satisfactory.
Bank References:
Iyo Bank (Nagoya)
SMBC (Kamimaezu)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
|
Annual
Sales |
|
24,300 |
23,149 |
21,220 |
16,877 |
|
Recur.
Profit |
|
360 |
346 |
841 |
690 |
|
Net
Profit |
|
220 |
213 |
309 |
462 |
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Total
Assets |
|
|
18,259 |
16,470 |
16,673 |
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Current
Assets |
|
|
10,630 |
10,425 |
9,355 |
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Current
Liabs |
|
|
9,202 |
8,731 |
7,922 |
|
Net
Worth |
|
|
4,186 |
3,954 |
3,646 |
|
Capital,
Paid-Up |
|
|
79 |
79 |
79 |
|
Div.Ttl
in Million (¥) |
|
|
6.493 |
9.68 |
6.498 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.97 |
9.09 |
25.73 |
9.31 |
|
Current Ratio |
|
.. |
115.52 |
119.40 |
118.09 |
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N.Worth Ratio |
|
.. |
22.93 |
24.01 |
21.87 |
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R.Profit/Sales |
|
1.48 |
1.49 |
3.96 |
4.09 |
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N.Profit/Sales |
|
0.91 |
0.92 |
1.46 |
2.74 |
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Return On Equity |
|
.. |
5.09 |
7.81 |
12.67 |
Notes: Forecast
(or estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
YEN |
1 |
Rs.0.56 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
|
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Report Prepared
by : |
ANK |
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 |
-- |
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.