MIRA INFORM REPORT

 

 

Report Date :

02.05.2011

 

IDENTIFICATION DETAILS

 

Name :

MARUBENI TEKMATEX CORPORATION

 

 

Registered Office :

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

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

October 1973

 

 

Com. Reg. No.:

(Tokyo-Chiyodaku) 057341

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of textile machinery

 

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 892.5 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 – April 1, 2010

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

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 APAN

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

 

URL:                 http//:www.tekmatex.jp

E-mail:             nfo@tekmatex.jp           

 

 

ACTIVITIES  

 

Import, export, wholesale of textile machinery

 

 

BRANCHES   

 

Nil

 

 

OFFICER(S)  

 

NOBUHIRO TAKANO, PRES      Katsuhiro Suzuki, mgn dir

Ichiro Enomoto, dir                     Yuji Wada, dir

Hajime Kawamura, dir                Masataka Kuramoto, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 50,000 M

PAYMENTS                  REGULAR         CAPITAL           Yen 480 M

TREND             STEADY           WORTH            Yen 2,534 M

STARTED                     1973                 EMPLOYES      60

 

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 892.5 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.  Tied up with Tekmatex Corp and expanded business networks.  Goods are actively exported.

 

 

FINANCIAL INFORMATION

 

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

 

The sales volume for Mar/2010 fiscal term amounted to Yen 50,000 million, a similar amount in the previous term.  The net profit was posted at Yen 190 million, similarly in the previous period.  .

 

For the current term ending Mar 2011 the net profit is projected at Yen 200 million, on a 2% rise in turnover, to Yen 51,000 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 892.5 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 7,965,055 million, operating profit Yen 118,926 million, recurring profit Yen 116,427 million, net profit Yen 95,312 million, total assets Yen 4,586,572 million, net worth Yen 745,297 million, employees 29,604, pres Teruo Asada

           

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 (--100%).

 

Clients: [Mfrs, wholesalers] Tekmatex Inc (USA), Tekmatex Europe, Marubeni Corp, Toray Ind, Mitsubishi Rayon Engineering, other

            No. of accounts: 800

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Tsudakoma Corp, Murata Machinery, Toyota Industries Corp, Shimadz Corp, Hitachi Ltd, 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:

　

31/03/2011

31/03/2010

31/03/2009

31/03/2008

Annual Sales

　

51,000

50,000

50,000

50,000

Recur. Profit

　

　

　

　

　

Net Profit

　

200

190

190

200

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

2,534

2,401

2,268

Capital, Paid-Up

　

　

480

480

480

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.00

0.00

0.00

3.58

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.39

0.38

0.38

0.40

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/03/2011 fiscal term. 

SUPPLEMENTS

 

CONSOLIDATED FINANCIALS OF THE PARENT, MARUBENI CORP

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2010

31/03/2009

INCOME STATEMENT

 

 

 

  Annual Sales

　

7,965,055

10,462,067

 

  Cost of Sales

7,473,382

9,817,264

 

      GROSS PROFIT

491,673

644,803

 

  Selling & Adm Costs

372,747

410,738

 

      OPERATING PROFIT

118,926

234,065

 

  Non-Operating P/L

47,501

-33,169

 

      RECURRING PROFIT

166,427

200,896

　

      NET PROFIT

95,312

111,208

BALANCE SHEET

 

 

 

 

  Cash

　

570,789

573,924

 

  Receivables

 

864,780

809,595

 

  Inventory

 

328,916

385,090

 

  Securities, Marketable

3,743

951

 

  Other Current Assets

472,900

559,195

 

      TOTAL CURRENT ASSETS

2,241,128

2,328,755

 

  Property & Equipment

691,136

704,821

 

  Intangibles

 

92,388

101,729

 

  Investments, Other Fixed Assets

1,561,920

1,572,004

 

      TOTAL ASSETS

4,586,572

4,707,309

 

  Payables

 

879,895

814,124

 

  Short-Term Bank Loans

334,705

473,378

 

　

 

　

　

 

  Other Current Liabs

389,172

447,363

 

      TOTAL CURRENT LIABS

1,603,772

1,734,865

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

2,104,718

2,266,724

 

  Reserve for Retirement Allw

44,154

51,384

 

  Other Debts

　

34,182

30,980

 

      TOTAL LIABILITIES

3,786,826

4,083,953

 

      MINORITY INTERESTS

 

 

 

Common stock

262,686

262,686

 

Additional paid-in capital

158,409

158,454

 

Retained earnings

594,509

510,484

 

Evaluation p/l on investments/securities

33,808

6,750

 

Others

 

(249,028)

(314,300)

 

Treasury stock, at cost

(638)

(716)

 

      TOTAL S/HOLDERS` EQUITY

799,746

623,358

　

      TOTAL EQUITIES

4,586,572

4,707,309

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2010

31/03/2009

 

Cash Flows from Operating Activities

　

280,610

343,618

 

Cash Flows from Investment Activities

-35,207

-387,069

 

Cash Flows from Financing Activities

-254,655

257,608

　

Cash, Bank Deposits at the Term End

　

570,789

573,924

ANALYTICAL RATIOS            Terms ending:

31/03/2010

31/03/2009

 

 

Net Worth (S/Holders' Equity)

799,746

623,358

 

 

Current Ratio (%)

139.74

134.23

 

 

Net Worth Ratio (%)

17.44

13.24

 

 

Recurring Profit Ratio (%)

2.09

1.92

 

 

Net Profit Ratio (%)

1.20

1.06

 

 

Return On Equity (%)

11.92

17.84

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.38

UK Pound

1

Rs.73.88

Euro

1

Rs.65.83

 

 

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

 

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.