MIRA INFORM REPORT
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Report No. : |
322336 |
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Report Date : |
13.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ISHIDA CO LTD |
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Registered Office : |
44 Sannocho-Shogoin Sakyoku Kyoto 606-8392 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
October 1948 |
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Com. Reg. No.: |
1300-01-005893 (Kyoto-Sakyoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures weighing & packaging equipment for industrial use, for commercial use. |
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No. of Employee : |
1,340 |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. Since the
complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami
disaster in 2011, Japan's industrial sector has become 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 inefficientINVESTMENT
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. 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. A sales tax increase caused
the economy to contract during the 2nd and 3rd quarters of 2014. The economy
has largely recovered in the three years since the disaster, but reconstruction
in the Tohoku region has been uneven due to labor shortages. 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 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. The government will continue a longstanding
debate on restructuring the economy and reining in Japan's huge government
debt, which amounts to more than 240% 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 2015, although the government in 2014
decided to postpone the final phase of the increase until 2017 to give the
economy time to recover from the 2014 increase. 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 |
Company
name and address
ISHIDA CO LTD
REGD NAME: KK
Ishida
MAIN OFFICE: 44 Sannocho-Shogoin
Sakyoku Kyoto 606-8392 JAPAN
Tel: 075-771-4141
Fax: 075-751-0747
E-Mail address: info@ishida.co.jp
ACTIVITIES
Mfg of
weighing/measuring instruments
BRANCHES
Tokyo, Osaka,
Niigata, Chiba, Yokohama, Shizuoka, other (Tot 33)
AGENT
DEALERS
32 nationwide
OVERSEAS
Europe (7),
Brazil, Argentina, Korea, China, Thailand, Philippines, Malaysia,
India, USA (3), Canada,
UAE, South Africa, other (--subsidiaries) (Tot 21)
FACTORYES
Shiga; UK, Korea,
China, Brazil,
OFFICERS
TAKAHIDE ISHIDA,
PRES Seiichi Ueno, s/mgn dir
Shogo Kato, mgn
dir Hirokazu Satoh, dir
Yoshikatsu
Nakagawa, dir Minoru Takai, mgn
dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 62,761 M
PAYMENTSREGULAR CAPITAL Yen
99 M
TREND STEADY WORTH Yen 51,392 M
STARTED 1948 EMPLOYES 1,340
COMMENT
MFR SPECIALIZING IN WEIGHING/MEASURING EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established
originally in 1893 by Otokichi II Ishida, on his account. Incorporated in 1948 the firm has been
succeeded by his descendants. This is a
specialized mfr of weighing, packaging and measuring instruments for industrial
& commercial use. Nation’s top maker
of weighing and packaging equipment, with 80% market share for industrial use
and 50% for commercial use. Boasts
debt-free management. Active in overseas
markets with 4 mfg plants in UK, Korea, China and Brazil, and sales/maintenance
subsidiaries in Thailand, Malaysia, USA, Canada, India, Europe, other. Clients include supermarkets, department
stores, food processors, convenience stores, etc, nationwide.
FINANCIAL
INFORMATION
The sales volume for Mar/2014 fiscal term
amounted to Yen 62,761 million, an 8% up from Yen 58,206 million in the
previous term. The recurring profit was
posted at Yen 9,127 million and the net profit at Yen 5,506 million,
respectively, compared with Yen 7,133 million recurring profit and Yen 4,234
million net profit, respectively, a year ago.
For the term that ended Mar 2015 the
recurring profit was projected at Yen 9,200 million and the net profit at Yen
5,600 million, respectively, on a 1% rise in turnover, to Yen 63,500
million. Business is seen expanding
steadily. Final results are
yet to be released.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
REGISTRATION
Date Registered: Oct 1948
Regd No.:
1300-01-005893 (Kyoto-Sakyoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7.9 million shares
Issued: 1.99 million shares
Sum: Yen 99.63 million
Major shareholders (%): Ryuichi Ishida
(16.5), Takahide Ishida I (4.1), other
No. of shareholders: 57
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures weighing & packaging equipment for industrial use (60%), for commercial use (40%).
Exports: 30%
(Handling Items):
Weighing/Packaging: multihead weigher, snack food bagmaker, case packer, conveyor;
Inline Inspection: check weigher, metal detector, X-ray inspection systems, seal cheker;
Retail Systems: counter top scale printer, price computing scale, counter top label printer, automatic wrapper, scale printer for prepack, software tools for retail systems;
Food Processing: automatic wrapper, weigh price labeler, information multi scale;
Factory Automation: platform scale, information multi scale, compact scale, automatic, parts packer;
Logistic Systems: weighing/cubing, other.
Clients: Supermarket chains, convenience stores, consumer coops, food processors, department stores, farm coops, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] NEC Platforms Ltd, Fujitsu Ltd, TDK, Oriental Motor,
Takebishi Electric Sales, TEC, Sanken Electric Co, other.
Payment record: Regular
Location: Business area in Kyoto. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Bank of Kyoto (H/O)
SMBC (Kyoto)
Relations: Satisfactory
FINANCES
(IN MILLION YEN)
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Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
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63,500 |
62,761 |
58,206 |
56,109 |
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Recur.
Profit |
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9,200 |
9,127 |
7,133 |
3,269 |
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Net
Profit |
|
5,600 |
5,586 |
4,234 |
2,158 |
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Total
Assets |
|
|
73,831 |
64,377 |
58,825 |
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Current
Assets |
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55,130 |
47,692 |
41,888 |
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Current
Liabs |
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18,264 |
14,880 |
13,599 |
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Net
Worth |
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51,392 |
45,863 |
41,686 |
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Capital,
Paid-Up |
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|
99 |
99 |
99 |
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Div.Ttl
in Million (¥) |
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57.6 |
57.6 |
43.4 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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1.18 |
7.83 |
3.74 |
7.99 |
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Current Ratio |
|
.. |
301.85 |
320.51 |
308.02 |
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N.Worth Ratio |
|
.. |
69.61 |
71.24 |
70.86 |
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R.Profit/Sales |
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14.49 |
14.54 |
12.25 |
5.83 |
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N.Profit/Sales |
|
8.82 |
8.90 |
7.27 |
3.85 |
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Return On Equity |
|
.. |
10.87 |
9.23 |
5.18 |
Note: Forecast (or
estimated) for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.64.20 |
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|
1 |
Rs.100.03 |
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Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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 |
-- |
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.