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Report No. : |
306265 |
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Report Date : |
03.02.2015 |
IDENTIFICATION DETAILS
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Name : |
AMADA CO LTD |
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Registered Office : |
200 Ishida Isehara Kanagawa-Pref 259-1196 |
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Country : |
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Financials (as on) : |
31.03.2014 (Consolidated) |
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Date of Incorporation : |
01.05.1948 |
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Com. Reg. No.: |
(Kanagawa-Isehara) 020895 |
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Legal Form : |
Limited Company |
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Line of Business : |
Engaged in Manufacturing Metal Processing Machinery and Metal
Processing Machine Tools Subject product
ranges includes:- Sheet Metal
Processing Machinery Punching Machines, Laser Machines, Blending Machines, Welding
Machines, Shearing Machines, General Fabrication Machines Metal Processing
Machine Tools Band Saw Machines, Structural Steel Machines (Drilling Machines),
Environment Related Products; Stamping Press, Machines For Cutting &
Shaping Metal Blocks, Used to Process Precision Components, Tools & Dies Others Engaged in Real Estate Leasing |
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No of Employees : |
Consolidated :7,956 (as of March 31,2014) Non-Consolidated :2,521 (as of March 31,2014) |
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 |
ECGC Country Risk Classification List – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 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
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Source
: CIA |
AMADA CO LTD
KK Amada
200 Ishida Isehara
Kanagawa-Pref 259-1196 JAPAN
Tel:
0463-96-1111 Fax: 0463-96-3281
E-Mail address: info@amada.co.jp
Engaged in Manufacturing Metal Processing Machinery and Metal Processing
Machine Tools
Subject product
ranges includes:-
Sheet Metal
Processing Machinery
Punching Machines, Laser Machines, Blending Machines, Welding Machines,
Shearing Machines, General Fabrication Machines
Metal Processing
Machine Tools
Band Saw Machines, Structural Steel Machines (Drilling Machines),
Environment Related Products; Stamping Press, Machines For Cutting &
Shaping Metal Blocks, Used to Process Precision Components, Tools & Dies
Others
Engaged in Real
Estate Leasing
44 (domestic), 39 affiliates overseas
USA (4), Canada, Mexico, Europe (14),
China (8), Taiwan, Korea, Thailand (2), Singapore (2), Malaysia, Vietnam, India
(2), Australia (--subsidiaries)
Fujinomiya,
Odawara, Ono, Isehara
MITSUO
OKAMOTO, PRES & CEO
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1256,482 M
PAYMENTSNo Complaints
CAPITAL Yen 54,768 M
TREND UP WORTH Yen 417,002 M
STARTED 1948 EMPLOYES Consolidated:7,956 (as of March
31,2014)
Non-Consolidated:2,521 (as of March 31,2014)
MFR OF
METAL WORKING MACHINERY.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
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Business |
Terms Ending |
Annual Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
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Results: |
31/03/2011 |
163,153 |
6,757 |
2,716 |
(%) |
375,159 |
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(Consolidated) |
31/03/2012 |
185,539 |
10,440 |
4,643 |
13.72 |
371,969 |
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31/03/2013 |
190,018 |
9,074 |
4,126 |
2.41 |
385,102 |
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31/03/2014 |
256,482 |
20,680 |
12,184 |
34.98 |
417,002 |
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31/03/2015 |
275,000 |
30,000 |
18,000 |
7.22 |
.. |
Unit: In Million Yen
Forecast (or estimated) figures for
31/03/2015 fiscal term
This is a top-class mfr of metalworking machinery. Once specialized in marketing, but leading
merged Amada Machines, machine tool manufacturing arm in Oct 2003, and
restarted production. Largest maker of
sheet metal processing machinery.
Aggressively engaged in overseas production. The company plans to establish technical
centers in India and Thailand by the end of March 2015 term. It aims to turn the center in Thailand into a
hub to adjacent countries, in view of future increase in demand.
The sales volume for Mar/2014 fiscal term amounted to Yen 256,482
million, a 35.0% up from Yen 190,018 million in the previous term. The newly purchased Miyachi Corp added Yen 20
billion and Yen 500 million to sales and operating profit, respectively. Sales of sheet metal processing machinery
increased in the domestic market, mainly construction firms. Orders advanced in North America, on the back
of recovery in the markets. The
recurring profit was posted at Yen 20,680 million and the net profit at Yen
12,184 million, respectively, compared with Yen 9,074 million recurring profit
and Yen 4,126 million net profit, respectively, a year ago
(Apr/Jun/2014 results): Sales Yen 51,342 million (up 13.8%), operating
profit Yen 1,407 million (previously Yen 309 loss), recurring profit Yen 1,791 million
(up 53.3%), net profit Yen 913 million (up 396.7%). (% and figures compared with the
corresponding period a year ago).
For the current term ending Mar 2015 the recurring profit is projected
at Yen 30,000 million and the net profit at Yen 18,000 million, respectively,
on a 7.2% rise in turnover, to Yen 275,000 million. Sales of mainline sheet metal processing
machinery are likely to show a favorable growth in the European and the Chinese
markets, boosted by strong demand from the electrical and medical machine
makers. Orders will remain at a high
level in North America, led by those for laser processing machines.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: 01 May 1948
Regd No.: (Kanagawa-Isehara) 020895
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
550 million shares
Issued: 396,502,117
shares
Sum: Yen 54,768 million
Major shareholders (%): Japan Trustee Services T
(10.5), Master Trust Bank of Japan T (6.5), Mizuho Bank (3.7), Company’s
Treasury Stock (3.56), Trust & Custody Services, Trust (2.9), Amada
Foundation (2.5), BNP Paribas Lux J Aberdeen G (2.3), Northern Trust (AVFC)
(1.8), Nippon Life Ins (1.8), Joyo Bank (1.4); foreign owners (44.7)
No. of shareholders:
16,406
Listed on the S/Exchange (s) of:
Tokyo
Managements: Mitsuo Okamoto, pres & CEO; Toshio
Takagi, s/mgn dir; Tsutomu Isobe, s/mgn dir: Atsushige Abe, mgn dir; Kotaro Shibata,
mgn dir; Takaya Shigeta, dir; Katsuhide Ito, dir
Nothing
detrimental is known as to the commercial morality of executives.
Related companies: Amada North America, Techno Wasino,
Amada Prestech, Amada Cutting, Amada Machine Tool, other
Activities: Manufactures
metal processing machinery and metal processing machine tools
(Mfg Items):
Sheet Metal
Processing Machinery (82%): punching machines, laser machines, blending
machines, welding machines, shearing machines, general fabrication machines;
Metal Processing
Machine Tools (17%): band saw machines, structural steel machines
(drilling machines), environment related products; stamping press, machines for
cutting & shaping metal blocks, used to process precision components, tools
& dies, etc.
Others (1%): Real estate
leasing, other
Overseas Sales
Ratio (53%)
Clients: [Mfrs,
wholesalers] Mitsui & Co, Toshiba Corp, Mitsubishi Electric, Fujitsu Ltd,
Nippon Steel, Nissan Motors, Amada Lease, Amada USA, Amada Machine Tool, Amada
Hong Kong, Amada Thailand, other.
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hitachi Metals, Fanuc Ltd, Metal One, Amada Soft Services, Techno Washino, NCC Co, THK, Amada Tool
Precision, Amada Engineering, NEC Fielding, Asahi Shoji Co, Sankou Denshi Co,
other.
Payment record: No
Complaints
Location:
Business area in Isehara City, Kanagawa-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
Mizuho
Bank (Shinjuku-Nishiguchi)
SMBC
(H/O)
Relations:
Satisfactory
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2014 |
31/03/2013 |
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INCOME STATEMENT |
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Annual Sales |
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256,482 |
190,018 |
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Cost of Sales |
153,977 |
115,595 |
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GROSS PROFIT |
102,505 |
74,423 |
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Selling & Adm Costs |
86,280 |
69,798 |
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OPERATING PROFIT |
16,225 |
4,625 |
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Non-Operating P/L |
4,455 |
4,449 |
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RECURRING PROFIT |
20,680 |
9,074 |
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NET PROFIT |
12,184 |
4,126 |
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BALANCE SHEET |
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Cash |
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70,211 |
57,712 |
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Receivables |
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141,378 |
119,336 |
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Inventory |
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37,354 |
19,525 |
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Securities, Marketable |
84,566 |
83,623 |
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Other Current Assets |
22,930 |
20,845 |
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TOTAL CURRENT ASSETS |
356,439 |
301,041 |
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Property & Equipment |
126,294 |
118,437 |
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Intangibles |
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6,708 |
7,006 |
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Investments, Other Fixed Assets |
63,288 |
68,965 |
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TOTAL ASSETS |
552,729 |
495,449 |
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Payables |
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20,230 |
17,247 |
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Short-Term Bank Loans |
30,015 |
18,143 |
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Other Current Liabs |
67,748 |
53,106 |
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TOTAL CURRENT LIABS |
117,993 |
88,496 |
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Debentures |
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200 |
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Long-Term Bank Loans |
3,196 |
3,505 |
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Reserve for Retirement Allw |
6,655 |
9,377 |
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Other Debts |
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7,882 |
8,769 |
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TOTAL LIABILITIES |
135,726 |
110,347 |
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MINORITY INTERESTS |
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Common
stock |
54,768 |
54,768 |
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Additional
paid-in capital |
163,270 |
163,199 |
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Retained
earnings |
210,617 |
202,865 |
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Evaluation
p/l on investments/securities |
(592) |
(1,504) |
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Others |
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(2,218) |
(25,042) |
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Treasury
stock, at cost |
(8,843) |
(9,184) |
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TOTAL S/HOLDERS` EQUITY |
417,002 |
385,102 |
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TOTAL EQUITIES |
552,729 |
495,449 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2014 |
31/03/2013 |
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Cash
Flows from Operating Activities |
|
25,980 |
3,379 |
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Cash
Flows from Investment Activities |
-7,622 |
-15,867 |
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Cash
Flows from Financing Activities |
2,360 |
-775 |
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Cash,
Bank Deposits at the Term End |
|
88,537 |
63,847 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2014 |
31/03/2013 |
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Net
Worth (S/Holders' Equity) |
417,002 |
385,102 |
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Current
Ratio (%) |
302.08 |
340.17 |
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Net
Worth Ratio (%) |
75.44 |
77.73 |
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Recurring
Profit Ratio (%) |
8.06 |
4.78 |
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Net
Profit Ratio (%) |
4.75 |
2.17 |
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Return
On Equity (%) |
2.92 |
1.07 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.88 |
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UK Pound |
1 |
Rs.93.27 |
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Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
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.