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Report No. : |
328921 |
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Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
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Name : |
YOSHIDA METAL INDUSTRY CO LTD |
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Registered Office : |
2078-3 Nishiota Yoshida Tsubame City Niigata-Pref 959-0221 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
Dec., 1954 |
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Com. Reg. No.: |
1100-01-016174 (Niigata-Tsubame) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Kitchen Knives. |
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No. of Employees : |
100 |
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 Limits : |
Yen 37.2 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
YOSHIDA METAL INDUSTRY CO LTD
REGD NAME: Yoshida
Kinzoku Kogyo KK
MAIN OFFICE: 2078-3
Nishiota Yoshida Tsubame City Niigata-Pref 959-0221 JAPAN
Tel: 0256-92-4191 Fax: 0256-92-4037
URL: http://www.yoshikin.co.jp
E-Mail address: (thru the URL)
Mfg of kitchen
knives
Tokyo, Osaka
At the caption
address
CHUJI KAMEKURA,
PRES Masato Watanabe, s/mgn dir
Hironobu Aoyagi,
dir Katsumi Naito, dir
Mitsuhiro Wada,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,070 M
PAYMENTSREGULAR CAPITAL Yen 40 M
TREND STEADY WORTH Yen 796 M
STARTED 1954 EMPLOYES 100
MFR OF KITCHEN INIVES OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 37.2 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company is a specialized mfr of kitchen knives, branded “Global” and related products. Goods are widely
exported overseas.
Financials are disclosed only partially. Financials for the Dec/2014 fiscal term were not precisely disclosed and
some are only estimated.
The sales volume for Dec/2014 fiscal term are estimated amounted to Yen
2,070 million, a 3% up from Yen 2,010 million in the previous term. The net
profit is estimated posted at Yen 77 million, compared with Yen 100 million a
year ago.
For the current term ending Dec 2015 the net profit is projected at Yen
80 million, on a 3% rise in turnover, to Yen 2,130 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 37.2 million, on 30 days normal terms.
Date Registered: Dec
1954
Regd No.:
1100-01-016174
(Niigata-Tsubame)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 320,000
shares
Issued: 80,000
shares
Sum: Yen
40 million
Major
shareholders (%): Global Holdings Inc* (100)
*.. Holding Company of
Yoshida Group
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Manufactures
kitchen knives, branded “Global”, and the related products (--100%)
Clients: [Mfrs,
wholesalers] Master Cutlery (75%), Fujii Co, Yamada Hamono Tokyo (Hamono means
cutlery), Kiya Co, Kume Boeki Shokai, Endo Shoji Co, Ebematsu Co, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] TMY Corp, Hashimoto Kogyosho, Honma Giko, other
Payment record: No comaplints
Location: Business area in
Tsubame City, Niigata-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Daishi Bank (Tsubame)
Kyoei Shinyo Kumiai (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
Annual
Sales |
|
2,130 |
2,070 |
2,010 |
1,963 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
80 |
77 |
100 |
50 |
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Total
Assets |
|
|
N/A |
N/A |
1,911 |
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Net
Worth |
|
|
796 |
743 |
673 |
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Capital,
Paid-Up |
|
|
40 |
40 |
40 |
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Div.Ttl
in Million (¥) |
|
|
6 |
6 |
6 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.90 |
2.99 |
2.39 |
-5.40 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
35.22 |
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N.Profit/Sales |
|
3.76 |
3.72 |
4.98 |
2.55 |
Notes: Financials are only partially
disclosed. The financials for the 31/12/2014
fiscal term were not precisely
disclosed and estimated only.
Forecast (or
estimated) figures for the 31/12/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.51 |
|
|
1 |
Rs.100.94 |
|
Euro |
1 |
Rs.72.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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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 |
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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.