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Report No. : |
304792 |
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Report Date : |
24.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SATAKE CORPORATION |
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Registered Office : |
2-30 Saijo Nishi-Honmachi Higashi-Hiroshima 739-0043 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2014 |
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Date of Incorporation : |
December, 1939 |
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Com. Reg. No.: |
0100-01-017304 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Rice Milling Machines, Cereal Processing Machines,
Other. |
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No. of Employees : |
879 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
SATAKE CORPORATION
REGD NAME: KK
Satake
MAIN OFFICE: 2-30
Saijo Nishi-Honmachi Higashi-Hiroshima 739-0043 JAPAN
Tel:
81-824-20-0001 Fax: 81-824-20-0004
*.. Registered at: 4-7-2 Soto-Kanda Chiyodaku
Tokyo, as given
URL: http://www.satake-japan.co.jp/
E-Mail address: kg-hiroshima@satake-japan.co.jp
Mfg of rice
milling machines, cereal processing machines, other
Tokyo, Sapporo, Sendai, Chiba, Niigata,
Nagoya, Osaka, Hiroshima, Matsuyama, Fukuoka, Kumamoto,
other (Tot 17)
China, UK,
Thailand, India, Australia, USA, Brazil, Myanmar, Canada (--subsidiaries)
Hiroshima (3),
Iwate (--subsidiary mfrs)
TOSHIKO SATAKE,
PRES
Takeshi Fukumori,
v pres & CEO Kazuyoshi Kihara, s/mgn dir
Hideaki
Matsushima, dir Kosuke Sasaki,
dir
Toshiharu
Maruyama, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 40,543 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 280 M
TREND UP WORTH Yen 31,660 M
STARTED 1939 EMPLOYES 879
MFR SPECIALIZING IN RICE MILLING MACHINES & GRAIN DRYING
MACHINES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established originally in 1896 by Riichi Satake for mfg power
driven rice milling machines, Japan’s first of its kind, on his account. Incorporated in 1939, the firm has been
succeeded by his descendants. Toshiko
Satake is his granddaughter, who took the pres office in Oct 2000. This is a manufacture of a comprehensive
range of individual machines, integrated systems and totally engineered
solutions for the processing of rice, wheat & other grains. Domestically enjoys dominant share of 70% in
rice milling plants, and 50% share in paddy huskers for farmers. Active in overseas expansion with USA,
Thailand, Brazil, China, Australia operations strengthened. USA office was opened in Mar 1980. About 30% of the products are shipped to
Zen-Noh (domestic farm coops) nationwide.
Operations cover over 140 countries worldwide.
The sales volume for Feb/2014 fiscal term amounted to Yen 40,543
million, a 1.4 % up from Yen 39,977 million in the previous term. The recurring profit was posted at Yen 3,829
million and the net profit at Yen 2,570 million, respectively, compared with
Yen 2,380 million recurring profit and Yen 1,651million net profit, respectively,
a year ago.
For the current term ending Feb 2015 the recurring profit is projected
at Yen 3,900 million and the net profit at Yen 2,600 million, respectively, on
a 3% rise in turnover, to Yen 41,700 million.
The financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Dec
1939
Regd No.:
0100-01-017304
(Tokyo-Chiyodaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 16
million shares
Issued: 4.04
million shares
Sum: Yen
280 million
Major shareholders (%): SS Enterprise (16), Tohoku Satake Co
(9)
No. of shareholders: 24
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures,
imports and exports rice processing machines & equipment (--97%), foods
(3%)
Mfg is consigned to subsidiary mfrs (4)
Exports
(15%)
Products: country
elevator, rice milling systems & plants, rice graders, flour milling
system, food processing system (of rice products), grain color sorter, debranner,
roller mill, maize degermer, coffee polisher, other grain processing machines,
kitchen-use rice polishing equipment;
Bio gas plants, ice room systems, abrasives,
motors, fire extinguishers, other industrial machinery;
Emergency foods, instant rice, other.
Clients: [Farm coops,
mfrs, wholesalers] Zen-Noh* (30%), Kubota Corp** (5%),
Marubeni Corp, Mitsui & Co, Sumitomo
Corp, Itochu Corp, Mitsubishi Corp, Mitsubishi Agricultural Machinery, other.
*.. Short for: National Federation of Agricultural
Cooperative Associations.
**.. Largest mfr of agricultural machinery
& equipment, Osaka
No. of accounts:
2,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Tohoku Satake Co, Satake Metals Ind, Satake Electrical Engineering
(-- subsidiaries), Mitsui & Co, Marubeni-Itochu Steel Inc, Matsushita
Electric Ind, Mitsubishi Corp, Chiyoda Corp, Mitsubishi Agricultural Machinery,
Zen-Noh Pearl Rice West Japan, Hokuren, other.
Payment record: No Complaints
Location: Business area in
Hiroshima. Office premises at the
caption address are owned and maintained satisfactory.
Bank References:
SMBC (Hiroshima)
Bank of Hiroshima (Saijo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
28/02/2015 |
28/02/2014 |
28/02/2013 |
29/02/2012 |
|
|
Annual
Sales |
|
41,700 |
40,543 |
39,977 |
38,692 |
|
Recur.
Profit |
|
3,900 |
3,829 |
2,380 |
2,017 |
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Net
Profit |
|
2,600 |
2,570 |
1,651 |
1,291 |
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Total
Assets |
|
|
43,000 |
40,328 |
40,136 |
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Current
Assets |
|
|
31,534 |
28,994 |
28,257 |
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Current
Liabs |
|
|
9,434 |
9,256 |
9,960 |
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Net
Worth |
|
|
31,660 |
29,119 |
27,498 |
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Capital,
Paid-Up |
|
|
280 |
280 |
280 |
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Div.Ttl
in Million (¥) |
|
|
30 |
30 |
30 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.85 |
1.42 |
3.32 |
7.61 |
|
Current Ratio |
|
.. |
334.26 |
313.25 |
283.70 |
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N.Worth Ratio |
|
.. |
73.63 |
72.21 |
68.51 |
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R.Profit/Sales |
|
9.35 |
9.44 |
5.95 |
5.21 |
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N.Profit/Sales |
|
6.24 |
6.34 |
4.13 |
3.34 |
|
Return On Equity |
|
.. |
8.12 |
5.67 |
4.69 |
Notes: Forecast
(or estimated) figures for the 28/02/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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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.