MIRA INFORM REPORT

 

 

Report Date :           

24.12.2011

 

IDENTIFICATION DETAILS

 

Name :

MORITANI & CO LTD

 

 

Registered Office :

1-4-22 Yaesu Chiyodaku Tokyo 103-8680

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

January  1918

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of industrial machinery, electronic equipment, construction materials, measuring instruments, others

 

 

No. of Employees :

486 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 1,857.2 Million

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

 

MORITANI & CO LTD

 

 

REGD NAME

 

KK Moritani Shokai

 

 

MAIN OFFICE

 

1-4-22 Yaesu Chiyodaku Tokyo 103-8680 JAPAN

Tel: 03-3278-6202     Fax: 03-3278-8090

URL:                             http://www.moritani.co.jp

E-Mail address:                        info@moritani.co.jp

 

 

ACTIVITIES

 

Import, export, wholesale of industrial machinery, electronic equipment,     construction materials, measuring instruments, others

 

 

BRANCHES   

 

Osaka, Nagoya, Fukuoka, Sendai, Sapporo, Hiroshima, Kanazawa, Takamatsu, other (Tot 34)

 

 

OVERSEAS

 

Taiwan, Seoul, Jakarta, Bangkok, Hong Kong, other

 

 

SUBSIDIARIES

 

(Domestic): Komatsu Saitama Co, Moritani Daikin KK, Iwaki Moritani Electric

Works, Moritani Koki KK, Green Lease KK, other (Tot11) 

 

(Overseas): Moritani Taiwan Co Ltd (Taipei, Kaohsiung);

Moritani America Inc (USA); Moritani GmbH (Germany);

Moritani Shanghai Co (China); Moritani & Co (Singapore)

 

OFFICERS

 

HIROSHI KATOH, PRES                       

Eisuke Yoshida, dir

Kin’ya Shiratori, dir        

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                 A/SALES          Yen 84,103 M

PAYMENTS                  REGULAR         CAPITAL           Yen 810 M

TREND             SLOW              WORTH            Yen 12,234 M

STARTED                     1918                 EMPLOYES      486

 

 

COMMENT    

 

TRADING HOUSE SPECIALIZING IN INDUSTRIAL MACHINERY.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDI-NARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 1,857.2 MILLION, 30 DAYS NORMAL TERMS.  .

 

 

HIGHLIGHTS

           

This an old-established trading firm dating back to 1901 when Gohei Moritani started the firm, on his account, for trading industrial tools and supplies, and has since been    succeeded by his descendants.  This is a trading firm specializing in industrial machinery, building & construction materials, electronic facilities, measuring and testing instruments, and other industrial machinery & equipment (See OPERATION).  Goods are both imported and exported through its overseas offices worldwide (6 locations over 5 countries).  In 2007 formed a holding company, KK GM Investments, and became its major subsidiary, operating 16 subsidiaries, domestic & overseas, under the firm.  Hiroshi Katoh, who is the 6th generation master, took the pres office in pr 2011.  Domestic clients include major electric powers, heavy machinery mfrs, steel mills, other, nationwide.

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2011 fiscal term amounted to Yen 84,103 million, a 6% down from Yen 89,017 million in the previous term.  Domestic demand from electric powers, government agencies and steel makers declined, particularly in March as affected by the North Japan Earthquake.  The recurring profit was posted at Yen 1,983 million and the net profit at Yen 993 million, respectively, compared with Yen 2,130 million recurring profit and Yen 1,184 million net profit, respectively, a year ago.

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 2,000 million and the net profit at Yen 995 million, respectively, on a 1% rise in turnover, to Yen 85,000 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 1,857.2 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:  Jan 1918

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         11,834,865 shares

Issued:                11,540,353 shares

Sum:                   Yen 810 million

Major shareholders (%): KK GM Investments* (100)

 

*.. Holding company, founded 2007, capital Yen 81 million, sales Yen 99,394 million, operating profit Yen 2,169 million, recurring profit Yen 2,607 million, net profit Yen 1,384 million, total assets Yen 79,722 million, net worth Yen 41,285 million, employees 753, pres Hiroshi Katoh, concurrently

           

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

 

 

OPERATION

 

Activities: Imports, exports and wholesales industrial machinery (18%), electric & electronics machinery & equipment (--46%), building & construction equipment           (--17%), environmental maintenance & protective equipment (--10%), measuring & inspection instruments, others (--9%), imports/ exports (15%).  (Breakdowns are all about)

 

(Handling items):

Industrial Equipment: excavating equipment, crushers, graders, concrete & asphalt plants, tunnel boring machines; refrigerators, freezers, air conditioners, air cleaners;          parking systems, automated warehouses, cranes, hoists, conveyors, elevators, forklift trucks; internal combustion engines, superchargers, turbines, boilers, wind &         hydro-power utilization, hydraulic machinery; heat exchangers, evaporators, gas   absorbers, dryers, filters, centrifuges, dust collectors, agitators, mixers; automatic          assembly machines, robots, packaging machines; rolling mills, drawing machines, presses, extruders, laser beam machining; control valves, general purpose valves, gears, flanges;

 

Electric/Electronics Equipment: generators, motors, dynamometers; transformers, resisters, arresters, reactors, condensers, converters, circuit breakers, switchboards, control centers, automatic controls; batteries, power supplies, ultrasonic devices, high frequency hearing equipment, radio isotope appliances;

 

Inspection/Measuring Equipment: volumeters, measuring instruments, testers, analytical instruments. Environmental detection & analyses;

 

Transport Equipment: passenger cars, commercial vehicles, trailer trucks, motor boats;

 

Environmental Equipment: waste water treatment equipment (screens, separators, oxidation-reduction equipment, biochemical process equipment, tertiary waste water treatment); Waste disposal/others (incinerators, crushing plants, silencers, noise & vibration controls);

 

Iron & Steel/Metals: steel products, wire ropes, cables;

 

Living Equipment: air conditioners, housing supplies, clothing, food, swimming pools,       leisure goods, other.

 

Clients: [Electric powers, heavy machinery mfrs, other mfrs] Tokyo Electric Power, Kansai Electric Power, Chubu Electric Power, Nippon Steel, Mitsubishi heavy Ind, Meidensha Corp, DMW Corp, IHI Corp, other.

No. of accounts: 1,000

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Meidensha Corp, Daikin Ind, Ishikawajima-Harima Heavy Ind, Toshiba Corp, Ube

Ind, Nippon Fisher, DMW Corp, Komatsu, other.

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

·         MUFG (Nihombashi)

·         SMBC (Tokyo-Chuo)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

85,000

84,103

89,017

96,615

Recur. Profit

　

2,000

1,983

2,130

2,520

Net Profit

　

995

993

1,184

959

Total Assets

　

　

40,912

41,267

49,539

Current Assets

　

　

37,431

37,764

　

Current Liabs

　

　

24,126

24,715

　

Net Worth

　

　

12,234

12,184

11,853

Capital, Paid-Up

　

　

810

810

810

Div.P.Share(¥)

　

　

68.00

81.00

79.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

1.07

-5.52

-7.86

-1.39

    Current Ratio

 

..

155.15

152.80

..

    N.Worth Ratio

..

29.90

29.52

23.93

    R.Profit/Sales

 

2.35

2.36

2.39

2.61

    N.Profit/Sales

1.17

1.18

1.33

0.99

    Return On Equity

..

8.12

9.72

8.09

 

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

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.72

UK Pound

1

Rs.82.71

Euro

1

Rs.68.90

 

 

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.