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Report No. : |
347352 |
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Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
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Name : |
MAYEKAWA MFG CO LTD |
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Registered Office : |
3-14-15 Botan Kotoku Tokyo 135-0046 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
June 2007 |
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Com. Reg. No.: |
034203 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of industrial machinery/equipment |
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No. of Employees : |
1,769 |
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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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) |
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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 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.
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Source
: CIA |
MAYEKAWA
MFG CO LTD
KK Mayekawa Seisakusho
3-14-15 Botan Kotoku Tokyo 135-0046 JAPAN
Tel: 03-3642-8181 Fax: 03-3643-7094
URL: http//:www.mayekawa.com
E-mail: (thru
the URL)
Mfg of industrial
machinery/equipment
Osaka, Nagoya, Chiba, other (Tot
48 servicing & parts stock centers)
N. America (2), S. America (9),
Europe (9), Africa, Mid East (3), Asia (12)
Moriya, Saku, Hiroshima
TADASHI MAYEKAWA, PRES Yoshio Tanaka, ch
Kazuyoshi Sato, v pres Yuzo Sekimori, s/mgn dir
Kuniaki Kawamura, s/mgn dir Makoto Mayekawa, s/mgn dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 61,789 M
PAYMENTSNO COMPLAINTS CAPITAL Yen
1,000 M
TREND STEADY WORTH Yen 13,529 M
STARTED 2007 EMPLOYES 1,769
MFR SPECIALIZING IN INDUSTRIAL
MACHINERY/EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS
The subject company was established
originally in 1924 by Kisaku Mayekawa for making vertical reciprocating
refrigeration compressors, on his account.
Through decades of operations the firm was reorganized in 2007 as a
new-born firm. Tadashi Mayekawa took the
pres office in Mar 2013. Specializes in
mfg industrial compressors as mainstay item, including high pressure screw
pumps, energy generation & recovery equipment, cold thermal energy control
systems, food processing units, their parts, components and accessories. Goods are widely exported. Domestic clients include major oil
refineries, food processors, gas companies, beer breweries, confectionery
processors, other.
The sales volume for Dec/2014 fiscal
term amounted to Yen 61,789 million, a 17% up from Yen 52,627 million in the
previous term. Demand from overseas was
robust. The weaker Yen contributed to
raise export revenues in Yen terms. The
recurring profit was posted at Yen 7,852 million and the net profit at Yen
4,416 million, respectively, compared with Yen 4,354 million recurring profit
and Yen 3,758 million net profit, respectively, a year ago.
For the current term ending Dec
2015 the recurring profit is projected at Yen 8,500 million and the net profit
at Yen 4,500 million, respectively, on a 5% rise in turnover, to Yen 64,500
million. Business is seen steadily
expanding.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered:
Jun 2007
Regd No.; (Tokyo-Kotoku)
034203
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 8 million shares
Issued: 2
million shares
Sum: Yen
1,000 million
Major shareholders (%): Mayekawa
Holdings AG* (76.9), Mayekawa (23.1)
*.. Holding company owned by the Mayekawa
No of shareholders: 2
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Manufactures industrial gas compressors, helium compressors, energy generation
& recovery equipment, high pressure screw pumps, cold thermal energy
control systems, food processing systems, other related equipment & units,
their associated parts, components and accessories (--100%).
Clients:
[Mfrs, wholesalers] Yakult Honsha, Ezaki Glico Co, Ebara Jitsugyo, Nissin
Refrigeration & Engineering Co, Asuzac Foods, Food Techno Engineering,
other
No. of accounts: 350
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Sumitomo Precision Products, Okabe Valve Kogyo, Mihama Co,
Seiken Co, Taenaka Kogyo, FA Techno, Noubi Denki, Daido Precision Ind, Kyowa
Seisakusho, other..
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Tokyo-Chuo)
Mizuho
Bank (Fukagawa)
Relations:
Satisfactory
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Terms Ending: |
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
|
Annual Sales |
|
64,800 |
61,789 |
52,627 |
56,476 |
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Recur. Profit |
|
8,500 |
7,852 |
4,354 |
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Net Profit |
|
4,500 |
4,416 |
3,758 |
1,053 |
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Total Assets |
|
|
54,662 |
44,863 |
35,879 |
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Current Assets |
|
|
39,540 |
27,064 |
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Current Liabs |
|
|
33,500 |
26,512 |
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Net Worth |
|
|
13,529 |
10,964 |
6,256 |
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Capital, Paid-Up |
|
|
1,000 |
1,000 |
1,000 |
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Div.Ttl in Million (¥) |
|
|
1,820 |
253 |
330 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.87 |
17.41 |
-6.82 |
4.55 |
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Current Ratio |
|
.. |
118.03 |
102.08 |
.. |
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N.Worth Ratio |
|
.. |
24.75 |
24.44 |
17.44 |
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R.Profit/Sales |
|
13.12 |
12.71 |
8.27 |
.. |
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N.Profit/Sales |
|
6.94 |
7.15 |
7.14 |
1.86 |
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Return On Equity |
|
.. |
32.64 |
34.28 |
16.83 |
Notes: Forecast (or estimated) figures for the 31/12/2015 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.96 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.71.64 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEN |
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Report Prepared
by : |
DPT |
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.