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Report No. : |
330939 |
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Report Date : |
06.07.2015 |
IDENTIFICATION DETAILS
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Name : |
UBE MACHINERY CORPORATION LTD |
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Registered Office : |
980 Okinoyama Kogushi Ube City Yamaguchi-Pref 755-8633 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
Sept., 1999 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Industrial Machinery. |
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No. of Employees : |
1028 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 an 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. Scarce in many natural
resources, Japan has long been dependent on imported raw materials. Since the
complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami
disaster in 2011, Japan's industrial sector has become even more dependent than
it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times
since 2008. 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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in part
due to a shortage of labor in the construction sector. Japan enjoyed a sharp
uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s “Three
Arrows” economic revitalization agenda - dubbed “Abenomics” - of monetary
easing, “flexible” fiscal policy, and structural reform. Abe’s government has
replaced the preceding administration’s plan to phase out nuclear power with a
new policy of seeking to restart nuclear power plants that meet strict new
safety standards, and emphasizing nuclear energy’s importance as a base-load
electricity source. Japan joined the Trans-Pacific Partnership (TPP)
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 2014 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. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
UBE MACHINERY CORPORATION LTD
REGD NAME: Ube
Kosan Kikai KK
MAIN OFFICE: 980
Okinoyama Kogushi Ube City Yamaguchi-Pref 755-8633 JAPAN
Tel: 0836-22-0072 Fax: 0836-22-6457
URL: http://www.ubemachinery.co.jp
E-Mail address: (thru the URL)
Mfg of industrial
machinery
Tokyo, Omiya,
Shizuoka, Nagoya, Osaka (2), Hiroshima, Okinawa (Tot 17)
Korea, Taiwan, China,
USA, Mexico, Thailand, India, Germany, Brazil
At the caption
address
YUKIO HISATSUGU,
PRES Tokuhisa Okada, ch
Yoshiyuki
Tamechika, mgn dir Hironari Maeda, mgn
dir
Hisao Yamane, mgn
dir Tetsumi Shirabe, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 47,564 M
PAYMENTSREGULAR CAPITAL Yen 6,700 M
TREND UP WORTH Yen 33,291 M
STARTED 1999 EMPLOYES 1028
MFR OF INDUSTRIAL MACHINERY, OWNED BY UBE INDUSTRIE LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a division separated
from Ube Industries Ltd (See REGISTRATION). This is a specialized mfr of industrial machinery:
die casting machine, injection molding, extrusion press, other (See OPERATION). In 2012 went into mfg tie-up of die casting
machines with Toyo Machinery
& Metal Co Ltd. In Oct 2013 merged into a sister company, Ube Techno End Co. Clients include major car makers, government
agencies, other
The sales volume for Mar/2015 fiscal term amounted to Yen 47,564
million, a 24% up from Yen 38,296 million in the previous term. The recurring profit was posted at Yen 4,011
million and the net profit at Yen 2,683 million, respectively, compared with
Yen 3,829 million recurring profit and yen 8,378 million net profit,
respectively, a year ago.
For the current term ending Mar 2016 the recurring profit is projected
at Yen 4,200 million and the net profit at Yen 2,800 million, respectively, on
a 5% rise in turnover, to Yen 50,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Sept 1999
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 88,000 shares
Issued: 22,000 shares
Sum: Yen 6,700 million
Major
shareholders (%): Ube Industries Ltd* (100)
*.. Diversified mfr of chemicals &
cement, Tokyo, founded 1942, listed Tokyo S/E, capital Yen 58,435 million,
sales Yen 641,759 million, operating profit Yen 24,147 million, recurring
profit Yen 23,228 million, net profit Yen 14,649 million, total assets Yen
711,546 million, net worth Yen 263,327 million, employees 10,702, pres Yuzuru
Yamamoto
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
industrial machinery die casting
machines (58%), injection molding, extrusion press, vertical mill, kiln (25%),
bulk handling machines, water screening equipment, bridges, floodgate, steel
structure, other (7%), other industrial equipment (10%)
Clients: Auto makers,
aluminum makers, Government agencies, cement makers, other
Exports to overseas makers.
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Ube Steel, TU Electronics, Nippon Steel & Sumikin Metal Corp,
Metso Minerals Inc, JFE Steel, other
Payment Record: Regular
Location: Business area in
Ube City, Yamaguchi-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Tokyo)
Mizuho Bank (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
|
Annual
Sales |
|
50,000 |
47,564 |
38,296 |
34,613 |
|
Recur.
Profit |
|
4,200 |
4,011 |
3,829 |
3,173 |
|
Net
Profit |
|
2,800 |
2,683 |
8,378 |
2,243 |
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Total
Assets |
|
|
49,784 |
48,717 |
45,387 |
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Current
Assets |
|
|
30,926 |
30,311 |
27,989 |
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Current
Liabs |
|
|
16,041 |
15,389 |
19,434 |
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Net
Worth |
|
|
33,291 |
32,982 |
25,613 |
|
Capital,
Paid-Up |
|
|
6,700 |
6,700 |
6,700 |
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Div.Ttl
in Million (¥) |
|
|
1,122 |
650 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.12 |
24.20 |
10.64 |
13.21 |
|
Current Ratio |
|
.. |
192.79 |
196.97 |
144.02 |
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N.Worth Ratio |
|
.. |
66.87 |
67.70 |
56.43 |
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R.Profit/Sales |
|
8.40 |
8.43 |
10.00 |
9.17 |
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N.Profit/Sales |
|
5.60 |
5.64 |
21.88 |
6.48 |
|
Return On Equity |
|
.. |
8.06 |
25.40 |
8.76 |
Notes: Forecast (or estimated) figures for the
31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
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.