MIRA
INFORM REPORT
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Report Date : |
04.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MARUBENI AUTOMOTIVE CORP |
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Registered Office : |
1-2-3 Ohtemachi Chiyodaku Tokyo 100-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
February 1991 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Motor Cars, their Parts and Component |
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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Maximum Credit Limit : |
YEN 355.2 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
MARUBENI
AUTOMOTIVE CORP
REGD NAME: Marubeni Automotive KK
MAIN OFFICE: 1-2-3 Ohtemachi Chiyodaku Tokyo 100-0004 JAPAN
Tel:
03-5288-5450 Fax: 03-5218-8580
URL: http://www.marubeni-automotive.co.jp/
E-Mail address:info@marubeni-automotive.co.jp
ACTIVITIES
Import, export, wholesale of motor cars, their parts & component
BRANCHES
Beijing, Shanghai, Guangzhou, Jakarta, Bangkok
OFFICER(S)
KAZUNORI NAMEKATA, PRES
Hiroshi Yamada, mgn dir
Kazuo Ozaki, dir
Yoshiaki Yamazaki, dir
Takuji Harada, dir
Nobuyuki Miyake, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 12,017 M
PAYMENTS REGULAR CAPITAL Yen 488 M
TREND STEADY WORTH Yen 1,250 M
STARTED 1991 EMPLOYES 41
COMMENT
TRADING FIRM SPECIALIZING IN AUTOMIBILES, THEIR PARTS & COMPONENTS, WHOLLY OWNED BY MARUBENI CORP. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 355.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a machinery division separated from Marubeni Corp (See REGISTRATION). Originally named as Marubeni Auto Sales Corp and changed the name in Apr 2006 as captioned. A trading firm specializing in import, export and wholesale of motor cars, car parts & components. Particular emphasis is in China where the firm operates 3 offices, including mfg.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 12,017 million, a 21% up from Yen 9,913 million in the previous term. Production of automotive parts in China rose for exports to Japan and elsewhere. The recurring profit was posted at Yen 65 million and the net profit at Yen 47 million, respectively, compared with Yen 155 million recurring profit and Yen 57 million net profit, respectively, a year ago. Rising operation expenses and material costs ate into profits.
For the term that ended Mar 2008 the net profit was projected at Yen 60 million, on a 12% rise in turnover, to Yen 14,000 million. Business continues uprising, backed by robust production of automobiles.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 355.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1991
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 9,750 shares
Issued: 9,750 shares
Sum: Yen 488 million
Major shareholders (%)
Marubeni Corp*(100)
*.. One of big 5 general trading houses, Tokyo, founded 1949, listed Tokyo, Osaka, Nagoya, Frankfurt, Düsseldorf S/E’s, capital Yen 262,686 million, turnover Yen 10,631,606 million, operating profit Yen 200,153 million, recurring profit Yen 216,197 million, net profit Yen 147,219 million, total assets Yen 5,207,225 million, net worth Yen 779,764 million, employees 32,208, pres Teruo Asada
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports and wholesales automobiles, automotive parts & components (--100%).
Mfg is mostly done in China at its JV factories.
Clients
[Automakers] Nissan Motors, Johnson Controls Automotive Systems, other
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Fuji Heavy Ind, Calsonic Kansei Corp, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are owned by the parent, Marubeni Corp, and maintained satisfactorily.
Bank References
SMBC (H/O)
Mizuho Bank (Ohtemachi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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14,000 |
12,017 |
9,913 |
12,028 |
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Recur.
Profit |
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65 |
155 |
194 |
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Net
Profit |
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60 |
47 |
57 |
104 |
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Total
Assets |
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3,949 |
3,639 |
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Current
Assets |
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3,312 |
2,973 |
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Current
Liabs |
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2,533 |
2,401 |
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Net
Worth |
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1,250 |
1,219 |
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Capital,
Paid-Up |
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488 |
488 |
488 |
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Div.P.Share(¥) |
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2410.00 |
2892.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
16.50 |
21.22 |
-17.58 |
-52.60 |
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Current Ratio |
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.. |
130.75 |
123.82 |
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N.Worth Ratio |
.. |
31.65 |
33.50 |
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R.Profit/Sales |
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.. |
0.54 |
1.56 |
1.61 |
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N.Profit/Sales |
0.43 |
0.39 |
0.58 |
0.86 |
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Return On Equity |
.. |
3.76 |
4.68 |
.. |
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Notes: Forecast (or estimated) figures for the 31/03/2008 fiscal term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.21 |
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UK Pound |
1 |
Rs.85.72 |
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Euro |
1 |
Rs.67.92 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)