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MIRA INFORM REPORT
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Report No. : |
505698 |
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Report Date : |
23.04.2018 |
IDENTIFICATION DETAILS
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Name : |
FANUC CORPORATION |
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Registered Office : |
3580 Shibakusa Aza-Komanba Oshinomura Minamitsurugun
Yamanashi-Pref 401-0597 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2017 |
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Date of Incorporation : |
May 1972 |
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Com. Reg. No.: |
0900-01-010053 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures NC Apparatus & Robots |
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No. of Employees : |
3,246 |
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 2016 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 second country to ratify the TPP in December 2016; the United States signaled its withdrawal from the TPP on January 23, 2017, and as of April 2017 the agreement has not gone into effect.
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Source
: CIA |
Company
name and summery
FANUC
CORPORATION
REGD NAME: Fanuc KK
MAIN OFFICE: 3580 Shibakusa
Aza-Komanba Oshinomura Minamitsurugun Yamanashi-Pref 401-0597 JAPAN
Tel: 0555-84-5555
Fax: 0555-84-5512
E-Mail address: info@fanuc.co.jp
ACTIVITIES: Mfr of
NC equipment, industrial robots
BRANCHES: Osaka,
Nagoya, Tsukuba, Ebetsu (Hokkaido), Kumamoto, other (Tot 23)
OVERSEAS: USA,
Luxemburg, Australia, China, Korea, Taiwan, India, other (Tot 10)
FACTORIES: At the
caption address, Tsukuba, Kirishima (Kagoshima) (Tot 3)
CHIEF EXEC: KENJI
YAMAGUCHI, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 536,942 M
PAYMENTS REGULAR CAPITAL Yen 69,014 M
TREND SLOW WORTH Yen
1,363,155 M
STARTED 1972 EMPLOYES 3,246
COMMENT
MFR OF NC EQUIPMENT & INDUSTRIAL ROBOTS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSI- NESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established on the basis of the
Computing Control Division separated from Fujitsu Ltd, nation’s largest
computer mfr, Tokyo. That year developed
its first industrial robots. This is the
world’s largest mfr of NC equipment in use for machine tools. Strong in-house production of
servomotors. Major maker of smart
robots. Also produces small machining
centers. Most exports on OEM basis. Noted for debt-free financial position and
strong earnings. In 2009, Fanuc
dissolved its JV with General Electric Company.
Accordingly, the firm established FANUC CNC America Inc and FANUC CNC
Europe SA as wholly owned subsidiaries to conduct sales and maintenance service
activities of CNCs in the Americas & Europe respectively. The challenge is to further cultivate
demand for compact machining centers next to smartphone devices.
FINANCIAL
INFORMATION
The sales volume for Mar/2017 fiscal term amounted to Yen
536,942 million, a 14% fall from Yen 623,418 million in the previous term. The recurring profit was posted at Yen
168,3291 million and the net profit at Yen 127,697 million, respectively,
compared with Yen 229,361 million recurring profit and Yen 159,700 million net
profit, respectively, a year ago.
For the current term ending Mar 2018 the recurring profit is
projected at Yen 200,000 million and the net profit at yen 147,000 million,
respectively, on a 21% rise in turnover, to Yen 650,000 million.
Financial situation is considered FAIR and good for ORDINARY
business engagements.
REGISTRATION
Date Registered: May
1972
Regd No.: 0900-01-010053
(Yamanashi-Minamitsurugun)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 400 million shares
Issued: 205,942,215 shares
Sum: Yen
69,014 million
Major shareholders (%): Master Trust Bank of Japan T (11.2),
Japan Trustee Services T (7.6), Company’s Treasury Stock (5.0), State Street
Bank & Trust (2.95), State Street Bank & Trust 505001 (2.9), Japan
Trustee Services T5 (1.8), Trust & Custody Services Inv T (1.7), CBNY for
Depositary Share Holders (1.6), State Street Bank West Treaty 505234 (1.4),
State Street Bank & Trust 505225 (1.4); foreign owners (53.9)
No. of shareholders: 39,824
Listed on the S/Exchange (s) of: Tokyo
Managements: Yoshiharu Inaba, ch; Kenji Yamaguchi, pres;
Hiroyuki Uchida, v pres; Yoshihiro Gonda, v pres; Kiyonori Inaba, s/mgn dir;
Hiroshi Noda, s/mgn dir; Katsuo Koba, s/mgn dir; Shunsuke Matsubara, s/mgn dir;
Tetsuya Kosaka, s/mgn dir; Takayuki Ito, mgn dir; Hidehiro Miyajima, mgn dir;
Mitsuyuki Taniguchi, mgn dir; Ryoki Hashimoto, mgn dir
Nothing detrimental is known as to the commercial morality
of executives.
Related companies: Fanuc Robotics America, other
OPERATION
Activities: Manufactures NC apparatus & robots:
(Sales
breakdown by divisions):
FA Div
(33%): CNC series, power mater, Servo motors (including spindle
motors, linear motors, DD motors), lasers, other;
Robotics
Div (35%): robots;
Robot
Machine Div (18%): electric injection molding machines, wire-cut EDMs, CNC
drills, super 5 axis precision Nano machines, including maintenance, repairing,
testing, and other services for the products.
Services
(15%)
Overseas
Sales Ratio (78%)
Clients:
[Mfrs, wholesalers] Samsung Electronics Vietnam Thainguen Co
Ltd (15%), Mitsui & Co, Makino Milling Machine, Murata Machinery, Amada Co,
Yamazen Corp, Yuasa Trading, Tsugami Corp, Mori Seiki Co, Star Seiki Co,
Foxconn Precision Electronics, Hon Hai Precision Ind, other
No. of accounts: 2,000
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers]: Fujitsu Ltd, Panasonic Corp, Nabtesco
Corp, Fuji Electric Devise Technology, Umetoku Inc, Fanuc Pertronics, THK,
Hitachi Metal Ind, Furukawa Electric Co, NSK Ltd, Hitachi Chemical, other
Payment record: Regular
Location: Light
industrial area in Yamanashi-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank
References:
Mizuho Bank (Tokyo)
MUFG (H/O)
Relations: Satisfactory
FINANCES
(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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650,000 |
536,942 |
623,418 |
729,760 |
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Recur. Profit |
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200,000 |
168,829 |
229,361 |
311,951 |
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Net Profit |
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147,000 |
127,697 |
159,700 |
207,599 |
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Total Assets |
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1,564,769 |
1,512,895 |
1,611,626 |
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Current Assets |
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1,059,644 |
1,072,770 |
1,273,355 |
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Current Liabs |
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120,715 |
106,116 |
172,611 |
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Net Worth |
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1,363,155 |
1,328,483 |
1,379,177 |
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Capital, Paid-Up |
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69,014 |
69,014 |
69,014 |
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Div.Ttl in Million (¥) |
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76,623 |
151,385 |
46,559 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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21.06 |
-13.87 |
-14.57 |
61.82 |
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Current Ratio |
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.. |
877.81 |
1,010.94 |
737.70 |
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N.Worth Ratio |
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.. |
87.12 |
87.81 |
85.58 |
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R.Profit/Sales |
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30.77 |
31.44 |
36.79 |
42.75 |
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N.Profit/Sales |
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22.62 |
23.78 |
25.62 |
28.45 |
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Return On Equity |
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.. |
9.37 |
12.02 |
15.05 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.02 |
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1 |
INR 92.72 |
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Euro |
1 |
INR 81.45 |
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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
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NIS |
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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.