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Report No. : |
305544 |
|
Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
YAMATO SCALE CO LTD |
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|
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Registered Office : |
5-22 Saenbacho Akashi City Hyogo-Pref 873-8688 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
December 1945 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of weighing machines |
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No of Employees : |
434 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
YAMATO SCALE CO LTD
REGD NAME: Yamato
Seiko KK
MAIN OFFICE: 5-22
Saenbacho Akashi City Hyogo-Pref 873-8688 JAPAN
Tel: 078-918-5507
Fax: 078-918-5551
URL: http//:www.yamato.scale.co.jp
E-mail: info@yamato.scale.co.jp
Mfg of weighing
machines
Tokyo, Nagoya,
Chiba, Fukuoka
Europe (4), USA
(4), Korea, China, India, Dubai
At the caption
address
SHOZO KAWANISHI,
PRES Yoshihisa Kawanishi, v pres
Masaru Yamamoto, dir Taketoshi Okamura, dir
Takeyoshi Nagao, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 14,998 M
PAYMENTS REGULAR CAPITAL Yen 497 M
TREND UP WORTH Yen 5,545 M
STARTED 1945 EMPLOYES 434
MFR OF WEIGHING
MACHINES
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT:
YEN 338.7 MILLION, 30 DAYS NORMAL TERMS
The subject company
was established on the basis of a weighing machine division separated from
Kawanishi Kikai KK, machine tool mfr, Hyogo-Pref. Specializes in mfg weighing machines: digital
scale, filling multi-head scale, other.
Machines are for industrial & household uses. Clients include food processors, steel mfrs,
metal industries, heavy machinery makers, other, nationwide.
The sales volume
for Mar/2014 fiscal term amounted to Yen 14,998 million, an 8% up from Yen
13,906 million in the previous term. The
recurring profit was posted at Yen 1,209 million and the net profit at Yen 857
million, respectively, compared with Yen 618 million recurring profit and Yen
655 million net profit, respectively, a year ago.
For the current
term ending Mar 2015 the recurring profit is projected at Yen 1,250 million and
the net profit at Yen 900 million, respectively, on a 3% rise in turnover, to
Yen 15,500 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 338.7
million, on 30 days normal terms.
Date Registered: Dec 1945
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 39
million shares
Issued:
9.94 million
shares
Sum: Yen
497 million
Major shareholders
(%):
Yoshihisa Kawanishi (12.5),
Shozo Kawanishi (5.3), Tami Kawanishi (5.2), Hisanari Kawanishi (5.2), SMBC
(4.9), Mizuho Bank (4.9), Meiji Yasuda Life (4.0)
No. of shareholders: 480
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
weighing machines: digital scale, filling multi-head scale, other machines; for
industrial use (86%), for household & other uses (--14%).
Export
(25%)
Clients: [Mfrs, wholesalers]
Bridgestone Corp, Calbee Foods, Sumitomo Metal Ind, Komatsu Ltd, Nippon Steel,
Public Agencies, Yamato Corp, Yamato Scale, Sumitomo Rubber Ind, Asahi Glass,
other.
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
NDK, Okazaki Koki, KSS, IST, Dainichi Mfg, Marubishi Co, Kuroda Mfg, Izumi Co,
Sumitomo Corp, Hitachi Ltd, other
Payment record: Regular
Location: Business area in
Akashi City, Hyogo-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank
References:
SMBC (Akashi)
Mizuho Bank (Kobe)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
15,500 |
14,998 |
13,906 |
13,109 |
|
Recur.
Profit |
|
1,250 |
1,209 |
618 |
380 |
|
Net
Profit |
|
900 |
857 |
655 |
374 |
|
Total
Assets |
|
|
14,678 |
13,641 |
13,586 |
|
Current
Assets |
|
|
10,929 |
9,832 |
9,748 |
|
Current
Liabs |
|
|
7,796 |
7,790 |
8,193 |
|
Net
Worth |
|
|
5,545 |
4,706 |
4,037 |
|
Capital,
Paid-Up |
|
|
497 |
497 |
497 |
|
Div.Ttl
in Million (¥) |
|
|
79 |
79 |
0.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.35 |
7.85 |
6.08 |
11.58 |
|
Current Ratio |
|
.. |
140.19 |
126.21 |
118.98 |
|
N.Worth Ratio |
|
.. |
37.78 |
34.50 |
29.71 |
|
R.Profit/Sales |
|
8.06 |
8.06 |
4.44 |
2.90 |
|
N.Profit/Sales |
|
5.81 |
5.71 |
4.71 |
2.85 |
|
Return On Equity |
|
.. |
15.46 |
13.92 |
9.26 |
Forecast (or
estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.93.12 |
|
Euro |
1 |
Rs.69.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.