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MIRA INFORM REPORT
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Report No. : |
490109 |
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Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
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Name : |
YAMAZEN CORPORATION |
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Registered Office : |
2-3-16 Itachibori Nishiku Osaka 550-8660 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2017 |
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Date of Incorporation : |
May, 1947 |
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Com. Reg. No.: |
1200-01-049040 |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Trading house for import, export and wholesale of machine
tools, industrial tools & equipment, MRO internet purchase,
housing/construction equipment & materials, house products, others
(--100%) |
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No. of Employees : |
1,555 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 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 Address
YAMAZEN CORPORATION
REGD NAME: KK Yamazen
MAIN OFFICE: 2-3-16 Itachibori
Nishiku Osaka 550-8660 JAPAN
Tel:
06-6534-3021 Fax: 06-637-2105
URL: http://www.yamazen.co.jp/
E-Mail address: info@yamazen.co.jp
ACTIVITIES
Import, export, wholesale of
machine tools, housing equipment
BRANCHES
Tokyo,
Osaka, Nagoya, Hiroshima, Fukuoka, other (Tot 54)
OVERSEAS
USA,
Taiwan, Asean, Europe, China, other (Tot 18)
OFFICERS
YUJI
OGAWA, PRES & CEO Meguru Nakata,
ch
Ryuji
Kakegawa, v pres Taichi Aso,
s/mgn dir
Toshiyasu
Nomi, s/mgn dir Kazuo Ebata, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 407,445 M
PAYMENTS REGULAR CAPITAL Yen 7,909 M
TREND STEADY WORTH Yen 61,504 M
STARTED 1947 EMPLOYES 1,555
COMMENT
TRADING HOUSE SPECIALIZING IN MACHINE TOOLS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
This
is a leading specialized trader of machinery & tools, particularly strong
in machine tools, founded by Takeo Yamamoto.
Also deals in housing-related equipment and materials. Emphasis placed on expansion of new business
areas of high-tech machinery & systems, such as industrial robots and OA
equipment. Fostering eco-related
products and solar power system. The
company is actively developing health equipment and other products for active
seniors. Also engaged in sales of
environmental-friendly equipment such as photovoltaic power generation
systems. Expanding sales among local
firms in China, EMS in Taiwan and sales of industrial machinery in ASEAN
countries.
FINANCIAL
INFORMATION
The
sales volume for Mar/2017 fiscal term amounted to Yen 407,445 million, a shade up
from Yen 406.019 million in the previous term.
The recurring profit was posted at Yen 10,928 million and the net profit
at Yen 7,537 million, respectively, compared with Yen 12,661 million recurring
profit and Yen 9,374 million net profit, respectively, a year ago.
For
the current term ending Mar 2018 the recurring profit is projected at Yen
11,500 million and the net profit at Yen 7,850 million, respectively, on a 5%
rise in turnover, to Yen 427,820 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements
REGISTRATION
Date Registered: May 1947
Regd No.: 1200-01-049040 (Osaka-Nishiku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
200 million shares
Issued:
93,840,310 shares
Sum: Yen 7,909
million
Major
shareholders (%):Customers’ S/Holding Assn Osaka (9.1), Customers’ S/Holding
Assn Tokyo (6.2), DMG Mori Seiki (3.7), Master Trust Bank of Japan T (3.6),
Mizuho Bank (3.4), Resona Bank (3.2), Employees’ S/Holding Assn (2.9),
Customers’ S/Holding Assn Nagoya (2.5), Japan Trustee Services T (2.0),
Customers’ S/Holding Assn Hiroshima (1.5); foreign owners (13.6)
No. of shareholders: 4,712
Listed on the S/Exchange (s) of: Tokyo
Nothing detrimental is known as
to the commercial morality of executives.
Related
companies: Yamazen Create, Yamazen Logistics, Travel Topia Inc, Nihon
Butsuryu Co, Procue By Net Corp, other
OPERATION
Activities:
Trading house for import, export and wholesale of machine tools, industrial
tools & equipment, MRO internet purchase, housing/construction equipment
& materials, house products, others (--100%)
(Sales breakdown by divisions):
Production
Equipment (both domestic & overseas) (67%), Housing Construction Materials
(13%), Household Equipment (18%), others (2%)
Overseas
Sales Ratio (16%)
Clients: [DIY goods chains, mfrs, wholesalers]
Nishikawa Sangyo, Iwase Sangyo, Toyo Corp,
Keiyo Co, Shimachu Co, LIXIL Corp, Sien Yu International, other.
No. of accounts: 1,000
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Brother Ind,
Daikin Ind, DMG Mori Precision Sales & Service, Panasonic Corp, Okuma Corp,
OSG Corp, Corona Corp, Cleanup Corp, THK Corp, Nitto Kogyo Corp, LIXIL Corp, other.
Payment record: Regular
Location:
Business area in Osaka. Office premises at the caption address are owned and
maintained satisfactorily.
Bank References:
Mizuho
Bank (Osaka)
Resona Bank (Osaka)
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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427,820 |
407,445 |
406,019 |
390,732 |
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Recur.
Profit |
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11,500 |
10,928 |
12,661 |
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Net
Profit |
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7,850 |
7,537 |
9,374 |
5,775 |
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Total
Assets |
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195,979 |
183,861 |
172,204 |
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Current
Assets |
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161,600 |
155,353 |
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Current
Liabs |
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125,583 |
121,596 |
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Net
Worth |
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61,504 |
54,363 |
49,341 |
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Capital,
Paid-Up |
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7,909 |
7,909 |
7,909 |
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Div.Ttl
in Million (¥) |
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2,950 |
2,250 |
1,500 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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5.00 |
0.35 |
3.91 |
16.23 |
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Current Ratio |
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.. |
128.68 |
127.76 |
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N.Worth Ratio |
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.. |
31.38 |
29.57 |
28.65 |
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R.Profit/Sales |
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2.69 |
2.68 |
3.12 |
.. |
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N.Profit/Sales |
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1.83 |
1.85 |
2.31 |
1.48 |
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Return On Equity |
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.. |
12.25 |
17.24 |
11.70 |
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 63.08 |
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1 |
INR 91.34 |
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Euro |
1 |
INR 80.03 |
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Yen |
1 |
INR 0.58 |
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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VIV |
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Report Prepared
by : |
KET |
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
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Promoters
/ Management background
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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.