MIRA INFORM REPORT

 

 

Report Date :           

21.10.2011

 

IDENTIFICATION DETAILS

 

Name :

MARUBENI EUROPE PLC, 

 

 

Registered Office :

Stadthausbrucke 7, Hamburg, 20355

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

26.08.1999

 

 

Com. Reg. No.:

72317

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Manufacture of artificial or synthetic filament tow

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Germany

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Marubeni Europe plc,

Hamburg Branch

Stadthausbrucke 7

Hamburg, 20355

Germany

Tel:       +49 (0) 40 378830

Fax:      +49 (0) 40 37883199

 

 

Synthesis     

 

Employees:                  9

Company Type:            Private Independent

Incorporation Date:         26-Aug-1999    

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:               469.3

Total Assets:                201.3

 

 

Business Description     

 

Marubeni Europe plc, Hamburg Branch is primarily engaged in manufacture of artificial or synthetic filament tow; manufacture of synthetic or artificial staple fibres, not carded, combed or otherwise processed for spinning; manufacture of synthetic or artificial single yarn including high tenacity yarn; and manufacture of synthetic or artificial monofilament or strip.

 

Industry

 

Industry            Chemicals - Plastics and Rubber

ANZSIC 2006:    1829 - Other Basic Polymer Manufacturing

NACE 2002:      2470 - Manufacture of man-made fibres

NAICS 2002:     32522 - Artificial and Synthetic Fibers and Filaments Manufacturing

UK SIC 2003:    2470 - Manufacture of man-made fibres

US SIC 1987:    2823 - Cellulosic Manmade Fibers

 

           


Key Executives   

 

Name

Title

Masakazu Arimune

Member of the board

Kazunori Takeda

Member of the board

Shingo Tsuda

Member of the board

Akihiko Watanabe

Member of the board

 

Registered No.(DEU): 72317

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

 

 

Corporate Overview

 

Location

Stadthausbrucke 7

Hamburg, 20355

Germany

Tel:       +49 (0) 40 378830

Fax:      +49 (0) 40 37883199

           

Sales EUR(mil):             354.3

Assets EUR(mil):           150.1

Employees:                   9

Fiscal Year End:            31-Dec-2010

Industry:                        Chemicals - Plastics and Rubber

Incorporation Date:         26-Aug-1999

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(DEU):     72317

Member of the board:     Masakazu Arimune

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1332     -          Rope, Cordage and Twine Manufacturing

3323     -          Industrial and Agricultural Chemical Product Wholesaling

1829     -          Other Basic Polymer Manufacturing

3711     -          Textile Product Wholesaling

 

NACE 2002 Codes:

2470     -          Manufacture of man-made fibres

5155     -          Wholesale of chemical products

5141     -          Wholesale of textiles

1752     -          Manufacture of cordage, rope, twine and netting

 

NAICS 2002 Codes:

314991  -          Rope, Cordage, and Twine Mills

424310  -          Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers

32522   -          Artificial and Synthetic Fibers and Filaments Manufacturing

4246     -          Chemical and Allied Products Merchant Wholesalers

 

US SIC 1987:

2298     -          Cordage and Twine

5131     -          Piece Goods, Notions, and Other Dry Good

2823     -          Cellulosic Manmade Fibers

516       -          Chemicals and Allied Products

 

UK SIC 2003:

2470     -          Manufacture of man-made fibres

5155     -          Wholesale of chemical products

5141     -          Wholesale of textiles

1752     -          Manufacture of cordage, rope, twine and netting

 

Business Description

Marubeni Europe plc, Hamburg Branch is primarily engaged in manufacture of artificial or synthetic filament tow; manufacture of synthetic or artificial staple fibres, not carded, combed or otherwise processed for spinning; manufacture of synthetic or artificial single yarn including high tenacity yarn; and manufacture of synthetic or artificial monofilament or strip.

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

354.3

Assets:

150.1

Current Assets:

144.2

 

Total Liabilities:

150.1

 

Issued Capital:

31.2

 

Net Worth:

66.0

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

NA

NA

 

Key Corporate Relationships

Bank:

The Bank of Tokyo-Mitsubishi UFJ

 

 

 

 

 

 

 

 

 

 

 

executive report

 

Board of Directors

 

Name

Title

Function

 

Masakazu Arimune

 

Member of the board

Director/Board Member

 

Kazunori Takeda

 

Member of the board

Director/Board Member

 

Shingo Tsuda

 

Member of the board

Director/Board Member

 

Akihiko Watanabe

 

Member of the board

Director/Board Member

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

Filed Currency

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

Consolidated

No

No

 

 

 

Total income

469.3

262.1

Raw materials and services

445.9

247.9

Net sales

469.3

262.1

Other operating income

1.8

2.5

Raw materials and consumables employed

445.9

247.9

Cost of goods sold

445.9

247.9

Cost of raw materials

445.9

247.9

Taxes and social security costs

0.9

1.1

Total payroll costs

9.4

8.4

Fixed asset depreciation and amortisation

0.2

0.1

Other operating costs

14.3

16.1

Net operating income

8.4

0.2

Interest received from loans

0.7

4.9

Other income

0.0

0.7

Interest payable on loans

0.3

0.1

Other expenses

-

2.4

Total expenses

-0.4

-3.1

Profit before tax

8.8

3.4

Provisions

6.6

4.5

Extraordinary expenses

0.4

-

Extraordinary result

-0.4

-

Total taxation

2.3

0.5

Net profit

6.2

2.8

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

Filed Currency

EUR

EUR

Exchange Rate

0.745406

0.696986

Consolidated

No

No

 

 

 

Issued capital

41.9

44.8

Profits for the year

46.7

43.2

Profit brought forward from previous year(s)

40.4

40.3

Total stockholders equity

88.6

88.1

Deferred taxation

2.0

-

Other provisions

1.5

2.0

Provision for pensions

3.2

2.7

Provisions and allowances

6.7

4.7

Trade creditors

20.6

20.4

Advances received

2.1

0.3

Other loans

0.1

0.1

Taxation and social security

2.0

3.2

Due to group companies

81.2

50.6

Owing to participants

0.0

0.0

Total current liabilities

106.0

74.6

Regularisation account

0.0

0.0

Total liabilities (including net worth)

201.3

167.3

Patents

0.0

0.0

Intangibles

0.0

0.0

Total tangible fixed assets

0.7

0.8

Long-term investments

3.8

4.1

Other financial assets

0.0

0.0

Shares held in associated companies

2.9

3.2

Total financial assets

6.8

7.3

Total non-current assets

7.5

8.0

Finished goods

18.7

12.0

Prepayments

0.0

0.0

Net stocks and work in progress

18.7

12.0

Trade debtors

62.8

43.1

Other receivables

4.2

2.8

Total receivables

171.6

146.9

Owing from associated companies

77.0

74.9

Owing from participants

27.7

26.0

Cash and liquid assets

3.2

0.3

Recoverable taxation

0.2

-

Total current assets

193.5

159.2

Prepaid expenses and deferred costs

0.1

0.1

Total assets

201.3

167.3

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

Filed Currency

EUR

EUR

Exchange Rate

0.745406

0.696986

Consolidated

No

No

 

 

 

Current ratio

18.25

21.34

Acid test ratio

16.49

19.73

Total liabilities to net worth

0.12%

0.08%

Net worth to total assets

0.04%

0.05%

Current liabilities to net worth

0.12%

0.08%

Current liabilities to stock

0.57%

0.62%

Fixed assets to net worth

0.01%

0.01%

Collection period

482.00

584.00

Stock turnover rate

0.39

0.45

Profit margin

0.00%

0.00%

Return on assets

0.00%

0.00%

Shareholders' return

0.01%

0.00%

Net worth

88.6

88.1

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.71

UK Pound

1

Rs.78.09

Euro

1

Rs.68.05

 

 

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.