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MIRA INFORM REPORT
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Report No. : |
503878 |
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Report Date : |
12.04.2018 |
IDENTIFICATION DETAILS
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Name : |
EBARA CORPORATION |
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Registered Office : |
11-1 Haneda-Asahicho Ohtaku Tokyo 144-8510 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2017 |
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Date of Incorporation : |
May 1920 |
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Com. Reg. No.: |
0108-01-001748 (Tokyo-Ohtaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures Industrial Pumps, Freezers, Garbage Incinerators, Semiconductor Equipment, Other: |
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No. of Employees : |
4,014 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Excellent |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
JAPAN - ECONOMIC OVERVIEW
Over the past 70 years, government-industry cooperation, a strong work
ethic, mastery of high technology, and a comparatively small defense allocation
(slightly less than 1% of GDP) have helped Japan develop an advanced economy.
Two notable characteristics of the post-World War II 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 have significantly eroded under the dual
pressures of global competition and domestic demographic change.
Measured on a purchasing power parity basis that adjusts for price
differences, Japan in 2017 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. For three postwar decades, overall real economic
growth was impressive - a 10% average in the 1960s, 5% in the 1970s, and 4% in
the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely
because of the aftereffects of inefficient investment and the collapse of an
asset price bubble in the late 1980s, which entailed considerable 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.
Japan enjoyed an 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. Led by
the Bank of Japan’s aggressive monetary easing, Japan is making modest progress
in ending deflation, but demographic decline – a low birthrate and an aging,
shrinking population – poses a major long-term challenge for the economy. The
government currently faces the quandary of balancing its efforts to stimulate
growth and institute economic reforms with the necessity of addressing its
sizable public debt, which stands at 235% of GDP. To help raise government
revenue, Japan adopted legislation in 2012 to gradually raise the consumption
tax rate. However, the first such increase, in April 2014, led to another
recession, so Prime Minister ABE has twice postponed the next increase, now
scheduled for October 2019. Structural reforms to unlock productivity are seen
as central to strengthening the economy in the long-run.
Scarce in critical natural resources, Japan has long been dependent on
imported energy and raw materials. After the complete shutdown of Japan’s
nuclear reactors following the earthquake and tsunami disaster in 2011, Japan's
industrial sector has become even more dependent than before on imported fossil
fuels. However, ABE’s government is seeking to restart nuclear power plants
that meet strict new safety standards and is emphasizing nuclear energy’s
importance as a base-load electricity source. In August 2015, Japan successfully
restarted one nuclear reactor at the Sendai Nuclear Power Plant in Kagoshima
prefecture, and several other reactors around the country have since resumed
operations; however, opposition from local governments has delayed several more
restarts that remain pending. Reforms of the electricity and gas sectors,
including full liberalization of Japan’s energy market in April 2016 and gas
market in April 2017, constitute an important part of Prime Minister Abe’s
economic program.
In October 2015, Japan and 11 trading partners reached agreement on the
Trans-Pacific Partnership (TPP), a pact that had promised to open Japan's
economy to increased foreign competition and create new export opportunities
for Japanese businesses. Japan was the first country to ratify the TPP in
December 2016; the United States signaled its withdrawal from the TPP in
January 2017, and in November 2017 the remaining 11 countries agreed on the
core elements of a modified agreement, which they renamed the Comprehensive and
Progressive Agreement for Trans-Pacific Partnership (CPTPP).
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Source
: CIA |
Company name & address
EBARA CORPORATION
REGD NAME: Ebara
KK
MAIN OFFICE: 11-1
Haneda-Asahicho Ohtaku Tokyo 144-8510 JAPAN
Tel:
03-3743-6111 Fax: 03-3745-3356
E-Mail address: webmaster@ebara.co.jp
ACTIVITIES: Mfg of industrial pumps,
freezers, garbage incinerators, semiconductor
Equipment, other
BRANCHES: Tokyo, Osaka, Nagoya,
Sapporo, Sendai, Saitama, Chiba, Yokohama, Niigata,
Kanazawa, Hiroshima,
Takamatsu, Fukuoka, other (Tot 80)
OVERSEAS: Indonesia,
Bahrain, Taiwan (--offices)
USA (5), Europe
(3), Mid East (1), Asia/Oceania (20) (-subsidiaries or group firms)
FACTORIES: Haneda (at the caption
address & vicinities), Fujisawa, Sodegaura (Chiba),
Suzuka (Mie)
OVERSEAS: China,
Korea, Taiwan, Vietnam, Indonesia, and Malaysia
OFFICERS: TOICHI MAEDA, PRES Natsunosuke Yago, ch
Manabu Tsujimura,
s/mgn dir Atsuo Oi, s/mgn dir
Sakon
Uda, dir Masao
Namiki, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 223,366 M
PAYMENTS REGULAR CAPITAL Yen 78,774 M
TREND STEADY WORTH Yen
250,444 M
STARTED 1920 EMPLOYES 4,014
COMMENT: MFR SPECIALIZING IN INDUSTRIAL PUMPS & AIR BLOWERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
HIGHLIGHTS
This is a time-honored mfr of industrial pumps and air blowers, dating back to1912 when started making centrifugal pumps, by a local entrepreneur, on his account. Since incorporated, the firm has grown rapidly to mfg various types of industrial pumps, freezers, garbage incinerators and semiconductor equipment. Ranked 1st in both large & mass-produced industrial pumps. Heavily depends upon public demand. Top class in in-house technologies for environment-related lines including garbage incinerators and smoke desulfurizers, as well as semiconductor polishing systems. The company established a base in Dubai, UAE in fiscal 2013 in a bid to strengthen its support system in the overseas market including Middle East and Southeast Asia. Shale gas-related facilities in North America will start up in 2017.
FINANCIAL
INFORMATION
The sales volume for Mar/2017 fiscal term amounted to Yen 223,366 million, a 6% up from Yen 210,948 million in the previous term. The recurring profit was posted at Yen 25,502 million and the net profit at Yen 24,371 million, respectively, compared with Yen 25,293 million recurring profit and Yen 20,277 million net profit, respectively, a year ago.
For the current term ending Mar 2018 the recurring profit is projected at Yen 26,500 million and the net profit at Yen 25,500 million, respectively, on a 3% rise in turnover, to Yen 230,070 million.
The financial situation is considered FAIR and should be good for ORDINARY business engagements.
REGISTRATION
Date Registered: May 1920
Regd No.:
0108-01-001748
(Tokyo-Ohtaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 200
million shares
Issued: 101,736,053
shares
Sum: Yen
78,764 million
Major
shareholders (%): Master Trust Bank of Japan T (9.4), Japan Trustee Services T (9.8),
Ichigo Trust PTE (7.0), Bank of New York 113522 (2.2), Mizuho Bank (1.9),
Zenkyoren (1.8), other; foreign owners (39.0)
No.
of shareholders: 21,908
Listed on the S/Exchange (s) of: Tokyo
Nothing
detrimental is known as to the commercial morality of executives.
Related companies: Ebara Engineering Service
Corp, Ebara Techno-Serve Co, other.
OPERATION
Activities: Manufactures
industrial pumps, freezers, garbage incinerators, semiconductor equipment,
other:
(Sales
Breakdown by Divisions):
Fluid Machinery & System Company (61%): fluid machinery & systems, various types of industrial pumps, blowers, gas & steam turbines, sewage collection systems, others;
Environmental Engineering Company (14%): solid waste incinerators, waste water treatment plants, wind power generation systems, fuel cell cogeneration systems, inorganic chemicals, thermal energy systems, soil & groundwater remediation systems, others;
Precision Machinery Company (24%): vacuum pumps, clean ozonizers for semiconductor device fabrication, pure-water pumps, chemical mechanical polishers, waste gas treatment equip, automated water carriers, other.
Others (1%)
Overseas sales ratio (53%)
Clients: [Government
agencies, municipal offices, wholesalers] Ebara Field Tech Corp, Taiwan Semiconductor
Mfg Co, Japanese Red Cross Society, IHI Plant Engineering, Kitasato Daiichi
Vaccine Corp, Tokyo Univ, Keio Univ, Chiyoda Corp, Shimadzu Corp, Donated Blood
Distribution Foundation, other.
No. of accounts:
1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toshiba Industrial Products & Systems Corp,
Hitachi Plant Engineering &
Construction, Tsukishima Kikai, Ebara Jitsugyo (subsidiary), Nippon Glass
Building Materials, Ebara Eliot, Ebara Hamada Blower Co, Sanso Electro Co,
Ebara Refrigeration & Systems Co, TSG, Kumagai-Tekkosho Co, Okura Seiki Co,
other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (H/O)
MUFG (Kyobashi)
Relations:
Satisfactory
FINANCES
(Non-Consolidated
in Million Yen):
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Terms Ending: |
31/03/2018 |
31/03/2017 |
31/03/2016 |
31/03/2015 |
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Annual
Sales |
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230,070 |
223,366 |
210,948 |
190,851 |
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Recur.
Profit |
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26,500 |
25,502 |
25,293 |
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Net
Profit |
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25,500 |
24,371 |
20,277 |
13,839 |
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Total
Assets |
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458,144 |
429,910 |
411,784 |
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Current
Assets |
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252,836 |
238,162 |
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Current
Liabs |
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165,392 |
166,523 |
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Net
Worth |
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250,239 |
211,474 |
200,281 |
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Capital,
Paid-Up |
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78,764 |
78,764 |
78,764 |
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Div.P.Share(¥) |
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5582.00 |
6623.00 |
4063.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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3.00 |
5.89 |
10.53 |
3.61 |
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Current Ratio |
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.. |
152.87 |
143.02 |
.. |
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N.Worth Ratio |
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.. |
54.62 |
49.19 |
48.64 |
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R.Profit/Sales |
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11.52 |
11.42 |
11.99 |
.. |
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N.Profit/Sales |
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11.08 |
10.91 |
9.61 |
7.25 |
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Return On Equity |
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.. |
9.74 |
9.59 |
6.91 |
Forecast (or estimated) figures for the 31/03/2018 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.13 |
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1 |
INR 92.52 |
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Euro |
1 |
INR 80.59 |
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YEN |
1 |
INR 0.61 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRA |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.