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Report No. : |
348808 |
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Report Date : |
04.11.2015 |
IDENTIFICATION DETAILS
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Name : |
UNICARRIERS CORPORATION |
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Registered Office : |
1-2 |
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Country : |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
Feb., 1949 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Forklift, Material Handling Equipment. |
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No. of Employees : |
2,000 |
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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Maximum Credit Limit : |
Yen 2,406.1 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 first-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 |
UNICARRIERS CORPORATION
REGD NAME: Uni
carrier KK
MAIN OFFICE: 1-2
Shin-Ogura Saiwaiku Kawasaki City Kanagawa-Pref 212-0031 JAPAN
Tel: 044-330-9000 Fax: 044-330-9009
URL: http://www.unicarriers.co.jp
E-Mail address: (thru the URL)
Mfg of forklift,
material handling equipment
Shiga, Hiroshima
China, Thailand,
USA, Mexico, Netherlands, Germany, Spain (2), Sweden, Malaysia
Shiga
AKIRA SHIKI, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 106,542 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 9,760 M
TREND UP WORTH Yen 30,493 M
STARTED 1949 EMPLOYES 2,000
MFR OF FORKLIFTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 2,406.1
MILLION, 30 DAYS NORMAL TERMS
The subject company was established in 1949 as Toyo Carriers
Manufacturing Co Ltd for production of forklift, Japan’s first products of this
kind. Name later changed to TCM
Corporation and in 2013 to
UniCarriers Corporation. In Nov 2011 formed a holding company, UniCarriers
Holdings Inc, and became its wholly owned subsidiary operating company. This is a specialized mfr of forklifts,
container carriers, transfer crane, other equipment & systems for material
handling, other. In Apr 2013, the
firm absorbed Nissan Forklift Corp as its wholly owned subsidiary, and renamed
as captioned. .
The sales volume
for Mar/2015 fiscal term amounted to Yen 106,542 million, a 2% drop from Yen
108,737 million in the previous
term.
The recurring profits was posted at Yen 3,949 million and the net profit at Yen
1,688 million, respectively, compared with Yen 2,914 million recurring profit
and Yen 2,359 million net losses, respectively, a year ago.
For the current term ending Mar 2016 the recurring profit is projected
at Yen 4,000 million and the net profit at Yen 1,700 million, respectively, on
a 3% rise in turnover, to Yen 109,700 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit
is estimated at Yen 2,406.1 million, 30 days normal terms.
Date
Registered: Feb 1949
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
78 million shares
Issued:
19.5 shares
Sum:
Yen 9,760 million
Major shareholders (%): UniCarriers
Holding Corporation* (100)
*..
Holding company at the caption address, founded in Nov 2011
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
forklifts, container carriers, transfer crane, other equipment & system for
material handling (--100%)
(Mfg items): forklift trucks,
warehouse trucks, skid steer loaders, shovel loaders, container handling
systems, special machineries, forklift attachments, other
Clients: [Mfrs,
wholesalers] TMC Europe, Meiwa Sangyo, Hitachi Construction Machinery, Hitachi
Capital, Kuribayashi & Co, TCM Kitakanto, TCM Minami-Kinki, UniCarriers
Asia Co, UniCarriers America Corp, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hitachi Construction Machinery, Isuzu Motor, Hitachi Capital,
Meiden Shoji, Dowa Technos, Wako Seisakusho, Mitsubishi Heavy Industries Engine
System, Kubota Corp, other
Payment
record: Slow but correct
Location: Business area in Tokyo. Office premises at the caption address are leased
and maintained satisfactorily.
Bank
References:
Mizuho Bank
(Tokyo)
MUFG (Osaka)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
|
Annual
Sales |
|
109,700 |
106,542 |
108,737 |
73,489 |
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Recur.
Profit |
|
4,000 |
3,949 |
2,914 |
3,146 |
|
Net
Profit |
|
1,700 |
1,688 |
-2,359 |
2,571 |
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Total
Assets |
|
|
89,584 |
87,773 |
53,774 |
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Current
Assets |
|
|
45,428 |
46,072 |
28,913 |
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Current
Liabs |
|
|
53,764 |
53,847 |
29,958 |
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Net
Worth |
|
|
30,493 |
28,016 |
19,454 |
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Capital,
Paid-Up |
|
|
9,760 |
9,760 |
9,760 |
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Div.Ttl
in Million (¥) |
|
|
0.00 |
476 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.96 |
-2.02 |
47.96 |
.. |
|
Current Ratio |
|
.. |
84.50 |
85.56 |
96.51 |
|
N.Worth Ratio |
|
.. |
34.04 |
31.92 |
36.18 |
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R.Profit/Sales |
|
3.65 |
3.71 |
2.68 |
4.28 |
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N.Profit/Sales |
|
1.55 |
1.58 |
-2.17 |
3.50 |
|
Return On Equity |
|
.. |
5.54 |
-8.42 |
13.22 |
Notes: Forecast (or estimated) figures for the
31/03/2016 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.45 |
|
|
1 |
Rs.100.96 |
|
Euro |
1 |
Rs.72.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
AMR |
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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.