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Report No. : |
306612 |
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Report Date : |
04.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ORION MACHINERY CO LTD |
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Registered Office : |
246 |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
Nov., 1946 |
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Com. Reg. No.: |
1000-01-005488 (Nagano-Suzaka) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Industrial Machinery, Dairy Equipment, Other. |
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No. of Employees : |
602 |
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 |
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) |
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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 |
ORION MACHINERY CO LTD
REGD NAME: Orion
Kikai KK
MAIN OFFICE: 246
Kotaka Suzaka City Nagano-Pref 382-8502 JAPAN
Tel: 026-245-1263 Fax: 026-245-5358
URL: http//:www.orionkikai.co.jp
E-mail: siji@orionkikai.co.jp
Mfg of industrial
machinery, dairy equipment, other
Tokyo, Chikuma,
Nagano, Chitose
Shanghai, Taipei,
Hong Kong
Chikuma (Nagano),
Chitose (Hokkaido)
Shanghai, Dongguan
(--China), Taiwan, Korea, Hong Kong
TETSURO OHTA, PRES Masuo Yoshioka, mgn dir Shigenori
Sakai, mgn dir Tsugio
Kobayashi, dir
Shigemi
Yanagisawa, dir Tohru
Kaneko, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 23,461 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 100 M
TREND UP WORTH Yen 23,330 M
STARTED 1946 EMPLOYES 602
MFR OF INDUSTRIAL
MACHINERY & DAIRY EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FORORDINARY BUSINESS ENGAGEMENTS
The subject company
was established by father of Tetsuo Ohta in order to make most of his
experience in the subject line of business. This is a specialized mfr of
industrial machinery and dairy equipment (See OPERATION). Tops in the mfg of dairy equipment (milking parlor).
Sales are conducted by 9 subsidiary dealerships from Hokkaido to Kyushu, with a
total 34 offices nationwide. Goods are
also exported. In 2011, the firm bought
up a dairy products sales company in China.
The firm plans to set up a new plant in Thailand to make a footstep into
Asean countries.
The sales volume
for Mar/2014 fiscal term amounted to Yen 23,461 million, an 8% up from Yen
21,767 million in the previous term. The
recurring profit was posted at Yen 3,308 million and the net profit at Yen
2,604 million, respectively, compared with Yen 2,934 million recurring profit
and Yen 1,478 million net profit, respectively, a year ago.
For the current
term ending Mar 2015 the recurring profit is projected at Yen 3,450 million and
the net profit at Yen 2,750 million, respectively, on a 4% rise in turnover, to
Yen 24,500 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Nov
1946
Regd No.:
1000-01-005488 (Nagano-Suzaka)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800,000 shares
Issued: 200,000 shares
Sum: Yen 100 million
Major
shareholders (%): Employees’ S/Holding Assn (39.2), Tetsuo Ohta (22.3), Tokyo Small
& Medium Business Promotion and Investment Corp (15.7), Executives’
S/Holding Assn (6.3)
No. of shareholders: 36
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
industrial machinery/equipment (60%), dairy equipment, other (40%)
Exports (5%)
(Mfg
items): Industrial machinery & equipment: plate heat exchangers,
refrigeration equipment (chillers, dehumidifiers, food service equipment),
clean air systems (DC inverter air dryers, Digi-Eco refrigerated air dryers,
inverter air dryers, heatless air dryers, refrigerated air dryers, air filters,
vacuum pumps, jet heaters, precision temp & humidity control systems, dairy
machinery/equipment (milking parlor), other.
Clients: [Mfrs,
wholesalers] Hokkaido Orion, Nishinippon Orion, Tohoku Orion, Higashinippon
Orion, Chubu Orion, Kansai Orion, other (--subsidiary wholesalers)
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Orion Seiko Co, Orion West Falia Surge Co, Clean Kagaku Kogyo, Rion Thermology
Co, Panasonic Corp, other
Payment record: No Complaints
Location: Business area in
Suzaka City, Nagano-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Hachijuni Bank (Suzaka)
Shoko Chukin Bank (Nagano)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual
Sales |
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24,500 |
23,461 |
21,767 |
22,760 |
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Recur.
Profit |
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3,450 |
3,308 |
2,934 |
2,603 |
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Net
Profit |
|
2,750 |
2,604 |
1,478 |
1,617 |
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Total
Assets |
|
|
34,574 |
31,452 |
29,370 |
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Current
Assets |
|
|
21,730 |
20,035 |
17,399 |
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Current
Liabs |
|
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8,804 |
8,407 |
7,557 |
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Net
Worth |
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23,330 |
20,673 |
19,087 |
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Capital,
Paid-Up |
|
|
100 |
100 |
100 |
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Div.P.Share(¥) |
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|
14.30 |
10.40 |
10.40 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.43 |
7.78 |
-4.36 |
6.93 |
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Current Ratio |
|
.. |
246.82 |
238.31 |
230.24 |
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N.Worth Ratio |
|
.. |
67.48 |
65.73 |
64.99 |
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R.Profit/Sales |
|
14.08 |
14.10 |
13.48 |
11.44 |
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N.Profit/Sales |
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11.22 |
11.10 |
6.79 |
7.10 |
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Return On Equity |
|
.. |
11.16 |
7.15 |
8.47 |
Notes: Forecast (or estimated) figures for the
31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
|
1 |
Rs.92.71 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.