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Report No. : |
337117 |
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Report Date : |
12.09.2015 |
IDENTIFICATION DETAILS
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Name : |
GOTO PRECISION ENGINEERING CO LTD |
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Registered Office : |
3-11-1 Uemine
Chuoku Saitama 338-0014 |
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Country : |
Japan |
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Financials: |
30.11.2014 |
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Date of Incorporation : |
December,
1962 |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures semiconductor housing stamped components, semiconductor
laser stem, crystal oscillator stem, automotive sensor components,
automotive-related components, mobile components, other precision stamped
components, other (--100%) |
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|
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No. of Employee : |
104 |
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 Limit : |
Yen
67.8 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 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 |
GOTO
PRECISION ENGINEERING CO LTD
REGD
NAME: Goto Seiko KK
MAIN
OFFICE: 3-11-1 Uemine Chuoku Saitama 338-0014 JAPAN
Tel: 048-853-3097 Fax: 048-853-0218
E-Mail address: (thru the URL)
Mfg of semiconductor laser products, automotive sensor-related components, crystal oscillator stem, mobile components, other
Fukushima (product center)
China
At the caption address, Fukushima
HIDETAKA GOTO, PRES Hiroyuki Goto, s/mgn dir
Takayuki Hatayama, dir Masako Goto, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,697 M
PAYMENTSNO COMPLAINTS CAPITAL Yen
50 M
TREND STEADY WORTH Yen 855 M
STARTED 1962 EMPLOYES 104
MFR OF SEMICONDUCTOR LASER PRODUCTS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT
YEN 67.8 MILLION, ON 30 DAYS NORMAL TERMS.
The
subject company is a specialized mfr of semiconductor laser products, automotive
sensor-related components, crystal oscillator stem, other. Goods are exported. Has an office in China. Clients include electronic mfrs, wholesalers,
other
Financials
are disclosed only partially.
The
sales volume for Nov/2014 fiscal term amounted to Yen 3,694 million, a 4% up
from
Yen
3,545 million in the previous term.
Demand of semiconductor parts for smart-phones rose. The net profit was posted at 154 million,
compared with Yen 140 million a year ago
For
the current term ending Nov 2015 the net profit is projected at Yen 160
million, on a 5% rise in turnover, to Yen 3,880 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 67.8 million, on 30 days normal terms.
Date Registered: Dec
1962
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 400,000
shares
Issued: 100,000
shares
Sum: Yen
50 million
Major shareholders
(%): Hidetaka
Goto (47), Hiroyuki Goto (47), other
No. of shareholders: 5
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Manufactures semiconductor
housing stamped components, semiconductor laser stem, crystal oscillator stem,
automotive sensor components, automotive-related components, mobile components,
other precision stamped components, other (--100%)
Clients: [Mfrs, wholesalers] Kyocera Corp
(45%), SHOTT Ag (20%), Panasonic Semiconductor Solutions (10%), Shinko Electric
Ind (5%), other
No. of accounts: 450
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Sawada
Sangyo, Niyodo Tekko, Hitachi Metal Trading, Hitachi Electric Wire Trading,
Tanaka Kikinzoku, Tokai Electronics, Sansho Trading, other
Payment record: No Complaints
Location: Business area in Saitama. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References:
Musashino Bank (Yono)
MUFG (Omiya)
Relations: ^Satisfactory
(In Million Yen)
|
Terms
Ending: |
30/11/2015 |
30/11/2014 |
30/11/2013 |
30/11/2012 |
|
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Annual Sales |
3,880 |
3,697 |
3,545 |
3,509 |
|
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Recur. Profit |
.. |
.. |
.. |
.. |
|
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Net Profit |
160 |
154 |
140 |
115 |
|
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Total Assets |
N/A |
N/A |
N/A |
||
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Net Worth |
855 |
701 |
561 |
||
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Capital, Paid-Up |
50 |
50 |
50 |
||
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Div.P.Share(¥) |
0.00 |
0.00 |
0.00 |
||
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.95 |
4.29 |
1.03 |
3.63 |
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Current Ratio |
.. |
.. |
.. |
||
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N.Worth Ratio |
.. |
.. |
.. |
||
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N.Profit/Sales |
4.12 |
4.17 |
3.95 |
3.28 |
Notes: Financials are only
partially disclosed.
Forecast (or estimated) figures
for the 30/11/2015 term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.39 |
|
|
1 |
Rs.102.59 |
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Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
SDA |
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 |
|
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 |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
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 |
|
-- |
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.