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Report No. : |
307956 |
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Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
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Name : |
HAZAMA ANDO CORPORATION |
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Registered Office : |
Kokusai Shin-Akasaka Bldg West, 6-1-20 Akasaka Minatoku |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
Oct., 2003 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Civil Engineering |
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No. of Employees : |
3,987 |
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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Maximum Credit Limit : |
YEN 5,960.3 MILLION |
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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) |
|
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 |
HAZAMA ANDO CORPORATION
REGD NAME: KK
Ando Hazama
MAIN OFFICE: Kokusai
Shin-Akasaka Bldg West, 6-1-20 Akasaka Minatoku
JAPAN
Tel:
03-6234-3600 -
URL: http://www.ad-hzm.co.jp
E-Mail address: (thru the URL)
Civil engineering
49 locations
nationwide
Asia (8), USA,
Mexico, Peru, Honduras, other
TOSHIAKI NOMURA,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 371,216 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 12,000 M
TREND UP WORTH Yen
54,381 M
STARTED 2003 EMPLOYES 3,987
CIVIL ENGINEERING COMPANY
FINANCIAL SITUATION COSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 5,960.3 MILLION, 30 DAYS NORMAL TERMS
|
Business |
Terms Ending |
Annual Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
|
Results: |
31/03/2011 |
196,701 |
2,654 |
1,560 |
(%) |
29,065 |
|
(Consolidated) |
31/03/2012 |
182,049 |
4,779 |
1,766 |
-7.45 |
30,557 |
|
|
31/03/2013 |
197,899 |
5,336 |
2,293 |
8.71 |
32,844 |
|
|
31/03/2014 |
371,216 |
11,258 |
16,414 |
87.58 |
54,381 |
|
|
31/03/2015 |
361,000 |
10,900 |
6,400 |
-2.75 |
.. |
Unit: In Million Yen
Forecast
figures for the 31/03/2015 fiscal term.
This is a noted civil
engineering firm with established reputation in dam and tunnel construction.
Made new start as newly listed construction firm in Oct 2003 following setback
brought about by bubble burst. Has good track record in overseas projects in
S/E Asia. Merged with Ando Corp in Apr 2013. Development of new areas such as
the vegetable growing system with Ibaraki Prefectural Government etc are
strengthened.
The sales volume for
Mar/2014 fiscal term amounted to Yen 371,216 million, an 87.6% up from Yen
197,899 million in the previous term.
New orders of Yen 300 billion were performed from the plan at the
beginning of the term. Works in hand,
mainly profitable civil engineering, were steadily performed. The recurring profit was posted at Yen 11,258
million and the net profit at Yen 16,414 million, respectively, compared with
Yen 5,336 million recurring profit and Yen 2,293 million net profit,
respectively, a year ago.
For the current
term ending Mar 2015 the recurring profit is projected at Yen 10,900 million
and the net profit at Yen 6,400 million, on a 2.8% fall in turnover, to Yen
361,000 million. New orders will be
acquired steadily.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 5,960.3
million, on 30 days normal terms.
Date
Registered: Oct 2003
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
397,250,000 shares
Issued: 118,382,741
shares
Sum: Yen
12,000 million
Major
shareholders (%): Japan Trustee Services Bank (9.9), Company’s Treasury Stock (6.8),
Mizuho Bank (3.7), Master Trust Bank of Japan (2.7), Hazama G Customers’
S/Holding Assn (2.6), Group Employees’ S/Holding Assn (2.4), Asahi Life Ins
(2.0), Ando Kensetsu Taka S/Holding Assn (1.6), Mitsubishi UFJ Trust Bank
(1.5), Woolen Miyata Industry (0.9); foreign owners (7.1)
No.
of shareholders: 36,540
Listed on the S/Exchange (s) of: Tokyo
Managements: Toshio Ono, ch;
Toshiaki Nomura, pres; Mitsuaki Higo, v pres; Haruyuki Kaneko, v pres; Hisanori
Ueno, s/mgn dir; Hikari Yamazaki, s/mgn dir; Hidekazu Kojima, s/mgn dir;
Hisayoshi Kinoshita, mgn dir; Yoshinobu Okabe, dir; Hisanori Komiya, dir
Nothing
detrimental is known as to the commercial morality of executives.
Related companies: Hazama Ando Kogyo Corp, Aoyama Kiko Co,
other.
Activities: Civil engineering
company: civil engineering (46%), construction (45%), group companies-related
(8%), others (2%).
Overseas
Sales Ratio (10%)
(Business
Fields)
(1)
Civil engineering and building construction,
including surveys, measurements, planning, designing, execution, supervising,
technical guidance communicating, and consulting work;
(2)
Real estate transactions and the ownership and use
of real property;
(3)
Soil survey and purification work including the
collection, handling and disposal of wastes, and consulting work relating to
such business;
(4)
Planning, designing and consulting work relating to
area development, urban development, and environmental improvements;
(5)
Power generation and electricity, thermal, and
other energy supply business
Clients: [Mfrs,
wholesalers] Ministry of Land, Infrastructure & Transportation, Tokyo
Electric Power, JFE Engineering, Kawasaki Life Corp, Central Nippon Expressway,
Toshiba Corp, Sanyu Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hazama Ando Kogyo Corp, Aoyama Kiko Co, Maruiso Corp, Kibe
Kensetsu, Kanax Co, Tonets Corp, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References:
Mizuho Bank (H/O)
MUFG (H/O)
Relations: Satisfactory
(In Million Yen)
|
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 |
|
371,216 |
197,899 |
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Cost of Sales |
342,810 |
182,270 |
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GROSS PROFIT |
28,406 |
15,628 |
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Selling & Adm Costs |
16,328 |
10,015 |
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OPERATING PROFIT |
12,077 |
5,612 |
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Non-Operating P/L |
-819 |
-276 |
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RECURRING PROFIT |
11,258 |
5,336 |
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NET PROFIT |
16,414 |
2,293 |
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BALANCE SHEET |
|
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Cash |
|
70,773 |
32,682 |
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Receivables |
|
111,297 |
55,474 |
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Inventory |
|
9,918 |
8,770 |
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Securities, Marketable |
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|
|
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Other Current Assets |
13,981 |
11,697 |
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TOTAL CURRENT ASSETS |
205,969 |
108,623 |
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Property & Equipment |
28,710 |
18,715 |
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Intangibles |
|
1,202 |
320 |
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Investments, Other Fixed Assets |
24,765 |
14,221 |
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TOTAL ASSETS |
260,646 |
141,879 |
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Payables |
|
100,169 |
54,647 |
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Short-Term Bank Loans |
26,302 |
9,927 |
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Other Current Liabs |
51,972 |
30,857 |
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TOTAL CURRENT LIABS |
178,443 |
95,431 |
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Debentures |
|
846 |
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Long-Term Bank Loans |
11,945 |
4,578 |
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Reserve for Retirement Allw |
13,943 |
8,672 |
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Other Debts |
|
1,087 |
354 |
|
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TOTAL LIABILITIES |
206,264 |
109,035 |
|
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MINORITY INTERESTS |
|
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Common
stock |
12,000 |
12,000 |
|
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Additional
paid-in capital |
15,010 |
9,007 |
|
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Retained
earnings |
27,603 |
11,664 |
|
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Evaluation
p/l on investments/securities |
954 |
244 |
|
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Others |
|
(1,091) |
26 |
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Treasury
stock, at cost |
(95) |
(97) |
|
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TOTAL S/HOLDERS` EQUITY |
54,381 |
32,844 |
|
|
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TOTAL EQUITIES |
260,646 |
141,879 |
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CONSOLIDATED CASH FLOWS |
|
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||
|
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Terms ending: |
31/03/2014 |
31/03/2013 |
|
|
Cash
Flows from Operating Activities |
|
7,484 |
7,933 |
|
|
Cash
Flows from Investment Activities |
3,593 |
-723 |
|
|
|
Cash
Flows from Financing Activities |
-53 |
-4,346 |
|
|
|
Cash,
Bank Deposits at the Term End |
|
70,024 |
32,659 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2014 |
31/03/2013 |
||
|
|
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Net
Worth (S/Holders' Equity) |
54,381 |
32,844 |
|
|
|
Current
Ratio (%) |
115.43 |
113.82 |
|
|
|
Net
Worth Ratio (%) |
20.86 |
23.15 |
|
|
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Recurring
Profit Ratio (%) |
3.03 |
2.70 |
|
|
|
Net
Profit Ratio (%) |
4.42 |
1.16 |
|
|
|
Return
On Equity (%) |
30.18 |
6.98 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
|
|
1 |
Rs.94.72 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
|
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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.