MIRA INFORM REPORT

 

 

Report Date :           

10.12.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

MARUBENI TEKMATEX CORPORATION

 

 

Registered Office :

Marubeni Tokyo Honsha Bldg 3F, 1-4-2 Ohtemachi Chiyodaku Tokyo 100-0004

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

October 1973

 

 

Com. Reg. No.:

(Tokyo-Chiyodaku) 057341

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of textile machinery

 

 

No. of Employees :

70 persons

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 922.2 Million

Status :

Satisfactory

Payment Behaviour :

Regular

Litigation :

----

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

MARUBENI TEKMATEX CORPORATION

 

 

REGD NAME

 

Marubeni Tekmatex KK

 

 

MAIN OFFICE

 

Marubeni Tokyo Honsha Bldg 3F, 1-4-2 Ohtemachi Chiyodaku Tokyo 100-0004 , JAPAN

Tel: 03-6212-5123     Fax: 03-6212-5135

 

URL:                 www.tekmatex.jp  

E-mail:             info@tekmatex.jp            

 

 

ACTIVITIES  

 

Import, export, wholesale of textile machinery

 

 

BRANCHES

 

Nil

 

 

OFFICER(S)

 

NOBUHIRO TAKANO, PRES                  Katsuhiro Suzuki, mgn dir

Ichiro Enomoto, dir                                 Masataka Kuramoto, dir

Hideo Nakano, dir                                  Hiroshi Nakagawa, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 51,250 M

PAYMENTS      REGULAR         CAPITAL           Yen 480 M

TREND             STEADY           WORTH            Yen 2,674 M

STARTED                     1973                 EMPLOYES      70

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN TEXTILE MACHINERY, OWNED BY MARUBENI CORATION. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

MAX CREDIT LIMIT: YEN 922.2 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established on the basis of a textile division separated from Marubeni Corp, leading general trading house, Tokyo (See REGISTRATION).  This is a trading firm specializing in textile machinery, and other industrial machinery.  In 1976, succeeded the domestic sales & importing businesses of the Textile Machinery Dept of Marubeni Corp.  In 1989, succeeded a part of importing business of the Dept, and advances simultaneously into the industrial machinery field.  In 1997, merged a sister company, Marubeni Tekmatex International Ltd, and renamed as captioned.  In 2000, merged a sister company, Tekma Engineering Co Ltd, to create a newly organized Marubeni Tekmatex Corp.  Goods are actively exported to China and S/E Asian countries.

 

 

FINANCIAL INFORMATION

 

Financials are consolidated by the parent, Marubeni Corp, and only partially disclosed.

 

The sales volume for Mar/2011 fiscal term is reported amounted to Yen 51,250 million, a 3% up from Yen 50,000 million in the previous term.  Exports of textile machinery to China and other Asian countries were firm.  The net profit was posted at Yen 200 million, compared with Yen 190 million a year ago.  .

 

For the current term ending Mar 2012 the net profit is projected at Yen 210 million, on a 3% rise in turnover, to Yen 52,700 million.  Exports to China and other S/E Asian countries are increasing.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 922.2 million, on 30 days normal terms.

 

REGISTRATION

 

Date Registered:  Oct 1973

Regd No.:        (Tokyo-Chiyodaku) 057341

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　3.84 million shares

Issued: 　         960,000 shares

Sum:                　Yen 480 million

Major shareholders (%): Marubeni Corp* (100)

 

*.. One of big 5 general trading houses, Tokyo, founded 1949, listed Tokyo, Osaka, Nagoya S/E’s, capital Yen 262,686 million, turnover Yen 9,020,458 million, operating profit Yen 145,774 million, recurring profit Yen 207,712 million, net profit Yen 136,541 million, total assets Yen 4,679,089 million, net worth Yen 831,730 million, employees 4,093, pres Teruo Asada

 

Consolidated Financials are attached (See SUPPLEMENTS)

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Imports, exports and wholesales textile machinery: spinning equipment, weaving equipment, printing/dyeing equipment, knitting equipment, other industrial machinery (--100%).

 

Clients: [Mfrs, wholesalers] Tekmatex Inc (USA), Tekmatex Europe, Marubeni Corp, Toray Ind, Mitsubishi Rayon Engineering, Nitto Boseki Co, Unitika Ltd, Toyobo Co, Kondo Cotton Spinning Co, Nisshinbo Textile Inc, other

            No. of accounts: 800

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Tsudakoma Corp, Murata Machinery, Toyota Industries Corp, Shimadz Corp, Hitachi Ltd, Toray Ind, Inoue Steel Works, Arioli, Liba, 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:

·         Mizuho Bank (Iidabashi)

·         SMBC (Asakusabashi)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

52,700

51,250

50,000

50,000

Recur. Profit

　

　

　

　

　

Net Profit

　

210

200

190

190

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

2,674

2,534

2,401

Capital, Paid-Up

　

　

480

480

480

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.83

2.50

0.00

0.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.40

0.39

0.38

0.38

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/03/2012 fiscal term. 

 

 

SUPPLEMENTS

 

CONSOLIDATED FINANCIALS OF THE PARENT, MARUBENI CORP

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2011

31/03/2010

INCOME STATEMENT

 

 

 

  Annual Sales

　

9,020,468

7,965,055

 

  Cost of Sales

8,498,316

7,473,382

 

      GROSS PROFIT

522,152

491,673

 

  Selling & Adm Costs

370,963

366,922

 

      OPERATING PROFIT

151,189

124,751

 

  Non-Operating P/L

56,028

41,676

 

      RECURRING PROFIT

207,217

166,427

　

      NET PROFIT

136,541

95,312

BALANCE SHEET

 

 

 

 

  Cash

　

616,003

570,789

 

  Receivables

 

884,874

864,760

 

  Inventory

 

372,156

328,915

 

  Securities, Marketable

2,870

3,743

 

  Other Current Assets

521,888

472,921

 

      TOTAL CURRENT ASSETS

2,397,791

2,241,128

 

  Property & Equipment

639,366

691,136

 

  Intangibles

 

8,540,692,388

　

 

  Investments, Other Fixed Assets

(8,539,050,456)

1,654,308

 

      TOTAL ASSETS

4,679,089

4,586,572

 

  Payables

 

732,560

675,736

 

  Short-Term Bank Loans

106,275

96,362

 

　

 

　

　

 

  Other Current Liabs

897,317

831,674

 

      TOTAL CURRENT LIABS

1,736,152

1,603,772

 

  Debentures

 

2,021,241

2,104,718

 

  Long-Term Bank Loans

　

　

 

  Reserve for Retirement Allw

53,411

44,154

 

  Other Debts

　

36,555

34,182

 

      TOTAL LIABILITIES

3,847,359

3,786,826

 

      MINORITY INTERESTS

 

 

 

Common stock

262,686

262,686

 

Additional paid-in capital

157,908

158,409

 

Retained earnings

712,815

594,508

 

Evaluation p/l on investments/securities

21,005

33,808

 

Others

 

(322,003)

(249,029)

 

Treasury stock, at cost

(681)

(636)

 

      TOTAL S/HOLDERS` EQUITY

831,730

799,746

　

      TOTAL EQUITIES

4,679,089

4,586,572

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2011

31/03/2010

 

Cash Flows from Operating Activities

　

210,044

280,610

 

Cash Flows from Investment Activities

-128,495

-35,207

 

Cash Flows from Financing Activities

-17,010

-254,655

　

Cash, Bank Deposits at the Term End

　

616,003

570,789

ANALYTICAL RATIOS            Terms ending:

31/03/2011

31/03/2010

 

 

Net Worth (S/Holders' Equity)

831,730

799,746

 

 

Current Ratio (%)

138.11

139.74

 

 

Net Worth Ratio (%)

17.78

17.44

 

 

Recurring Profit Ratio (%)

2.30

2.09

 

 

Net Profit Ratio (%)

1.51

1.20

 

 

Return On Equity (%)

16.42

11.92

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.23

UK Pound

1

Rs.81.55

Euro

1

Rs.69.60

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

<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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.