MIRA
INFORM REPORT
|
Report Date : |
13.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
MITSUBISHI CORPORATION |
|
|
|
|
Registered Office : |
2-3-1 Marunouchi
Chiyodaku Tokyo 100-8086 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
April
1950 |
|
|
|
|
Com. Reg. No.: |
0100-01-008771
(Tokyo-Chiyodaku) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import,
Export, Wholesale of energy, metals, machinery, chemicals |
|
|
|
|
No. of Employees : |
58,470 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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
MITSUBISHI CORPORATION
REGD NAME
Mitsubishi Shoji
KK
MAIN OFFICE
2-3-1 Marunouchi
Chiyodaku Tokyo 100-8086 JAPAN
Tel:
03-3210-2121 Fax: 03-3210-8051
URL: http://www.mitsubishicorp.com/
E-Mail address: (thru the URL)
ACTIVITIES
Import,
export, wholesale of energy, metals, machinery, chemicals, other
BRANCHES
Domestic
(148)
OVERSEAS
Branches
& subsidiaries (120)
Subsidiaries/Affiliates
(80) (39 main offices & 41 branches)
CHIEF EXEC
KEN
KOBAYASHI, PRES & CEO
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 19,233,443 M
PAYMENTS REGULAR CAPITAL Yen 204,447 M
TREND STEADY WORTH Yen 3,600,990 M
STARTED 1950 EMPLOYES 58,470
COMMENT
LARGEST GENERAL TRADING HOUSE OF JAPAN.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
Notes: Unit: in Million Yen.
Forecast (or estimated) figures for 31/03/2012
fiscal term
HIGHLIGHTS
This is the largest general trading house of Japan and one
of the core Mitsubishi group firms.
Handles about 25,000 products from raw materials to finished items. Strong in energies field, particularly
topping in LNG business. Has many
subsidiaries in food-related area.
Moving into satellite communications thru JV. Energy resources division faring well. Emphasis being directed to new-functional
business areas. Actively cultivating
Asian markets such as importing LNG from China and investing in projects in
Singapore. Listed on London and Paris
stock exchanges. The company invested
Yen 420 billion in acquiring partial concessions in a large-scale copper mine
in Chile in Nov 2011, boosting its total copper concessions around two-fold to
an annual 250,000 tons. It will invest
an additional Yen 400 billion-plus in the expansion of large-scale coking coal
concessions in Australia.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 534,297 million, a 12.5% up from Yen 17,102,782 million in the previous tem. The Great East Japan Earthquake in Mar 2011 caused a considerable damage to social infrastructure, production facilities, homes and other assets. Production dropped as a result of interruption to component supply chains, leading to a large downturn in economic activity. Under the circumstances, the firm’s total revenues increased, reflecting higher oil prices and robust growth in automobile and other machinery-related transactions. By Divisions, Energy up 28.9% to Yen 1,248,900 million; Metals up 24.2% to Yen 834,800 million; Machinery up 19.9% to Yen 677,700 million; Chemicals up 12.3% to Yen 803,700 million. The recurring profit was posted at Yen 534,297 million and the net profit at Yen 463,188 million, respectively, compared with Yen 297,872 million recurring profit and Yen 274,846 million net profit, respectively, a year ago.
(Apr/Dec/2011 results): Sales Yen 15,169,661 million (up 5.5%), operating profit Yen 232,953 million (down 14.0%), recurring profit Yen 369,308 million (down 12.4%), net profit Yen 370,194 million (up 2.2%). (% compared with the corresponding period a year ago).
For the term that just ended Mar/2012 the recurring profit was projected at Yen 510,000 million and the net profit at Yen 450,000 million, respectively, on a 10.7% rise in turnover, to Yen 21,300,000 million. Lucrative coking coal in Australia was hit by a prolonged impact from the floods, and metal resources remained flat. Petroleum development and LNG sales grew on the strength of the rising oil price. Chemicals and foods were steady. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
REGISTRATION
Date Registered: Apr
1950
Regd No.: 0100-01-008771 (Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2,500 million shares
Issued: 1,697,268,271 shares
Sum: Yen 204,447
million
Major shareholders (%): Japan Trustee Services Bank T (6.8), Tokio Marine & Nichido Fire Ins (5.1), Master Trust Bank of Japan T (4.2), Meiji Yasuda Life Ins (3.9), MTBJ (Mitsubishi Heavy Ind) (2.9), SSBT OT05 Omnibus Acct Treaty CI (2.1), MUFG (1.5), Nomura T (MUTB) (1.3), Mellon Bank Mellon Omnibus US P (1.0), MTBJ (Mitsubishi Electric) (1.0); foreign owners (31.4)
No. of shareholders: 275,268
Listed on the S/Exchange (s) of: Tokyo, Osaka, Nagoya, London
Managements: Yorihiko Kojima, ch; Ken Kobayashi, pres; Ryoichi Ueda, v pres; Masahide Yano, s/mgn dir; Hideyuki Nabeshima, s/mgn dir; Hideto Nakahara, s/mgn dir; Kiyoshi Fujimura, mgn dir; Yasuo Nagai, mgn dir; Yu Nomaguchi, dir; Kunio Itoh, dir; Kazuo Tsukuda, dir
Nothing detrimental is known as to the commercial morality of executives.
Related companies: Ryoshoku Ltd, Mitsubishi Corp USA, Mitsubishi Corporation Financial Management Services, Mitsubishi Development, etc.
OPERATION
Activities: Imports, exports and wholesales wide varieties of commodities from raw materials to consumer goods:
(Sales breakdown by
divisions):
Energy Div (20%): crude oil, petroleum products, LNG, LPG, carbon, other;
Metals Div (23%): ferrous & nonferrous raw materials, MDP units, steel products, other;
Machinery Div (18%): power & electrical systems, plant projects, aerospace, industrial machinery, motor vehicles, other;
Chemical Div (10%): raw materials for synthetic resins & fibers, chemical fertilizers, inorganic raw materials, industrial salts, plastics, electronics materials, life science products, other;
Life Style Div (28%): foods, textiles, housing general merchandise, other;
Overseas sales ratio
(19%): USA 6.7%, Australia 3.1%, other region9.2%.
Clients: [Power companies, mfrs, wholesalers] Nippon Oil Corp, Ryoshoku Ltd, Tokyo Gas, Tokyo Electric Power, Kansai Electric Power, other.
No. of accounts: 3,000
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, oil refiners, wholesalers] Mitsubishi Heavy Ind, Saudi Arabian Oil Co, Brunei LNG SB, Malaysia LNG, JGC Corp, other.
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
(H/O)
Mizuho
Corporate Bank (H/O)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
FINANCES: (Consolidated
in million yen) |
|
|||||
|
|
|
Terms Ending: |
31/03/2011 |
31/03/2010 |
||
|
INCOME STATEMENT |
|
|
||||
|
|
Annual Sales |
|
19,233,443 |
17,102,782 |
||
|
|
Cost of Sales |
1,803,541 |
16,086,185 |
|||
|
|
GROSS PROFIT |
1,149,902 |
1,016,597 |
|||
|
|
Selling & Adm Costs |
833,761 |
834,344 |
|||
|
|
OPERATING PROFIT |
316,141 |
182,253 |
|||
|
|
Non-Operating P/L |
218,156 |
115,619 |
|||
|
|
RECURRING PROFIT |
534,297 |
297,872 |
|||
|
|
NET PROFIT |
463,188 |
274,846 |
|||
|
BALANCE SHEET |
|
|
|
|||
|
|
Cash |
|
1,208,742 |
1,080,544 |
||
|
|
Receivables |
|
2,133,395 |
2,018,823 |
||
|
|
Inventory |
|
970,675 |
848,448 |
||
|
|
Securities, Marketable |
|
|
|||
|
|
Other Current Assets |
1,680,583 |
1,543,582 |
|||
|
|
TOTAL CURRENT ASSETS |
5,993,395 |
5,491,397 |
|||
|
|
Property & Equipment |
1,735,808 |
1,696,600 |
|||
|
|
Intangibles |
|
|
|
||
|
|
Investments, Other Fixed Assets |
3,618,239 |
3,668,853 |
|||
|
|
TOTAL ASSETS |
11,347,442 |
10,856,850 |
|||
|
|
Payables |
|
1,879,958 |
1,864,811 |
||
|
|
Short-Term Bank Loans |
655,873 |
655,001 |
|||
|
|
|
|
|
|
||
|
|
Other Current Liabs |
1,445,466 |
1,191,577 |
|||
|
|
TOTAL CURRENT LIABS |
3,981,297 |
3,711,389 |
|||
|
|
Debentures |
|
|
|
||
|
|
Long-Term Bank Loans |
3,188,749 |
3,246,029 |
|||
|
|
Reserve for Retirement Allw |
48,657 |
54,535 |
|||
|
|
Other Debts |
|
527,749 |
576,202 |
||
|
|
TOTAL LIABILITIES |
7,746,452 |
7,588,155 |
|||
|
|
MINORITY INTERESTS |
|
|
|||
|
|
Common
stock |
203,598 |
203,228 |
|||
|
|
Additional
paid-in capital |
256,501 |
254,138 |
|||
|
|
Retained
earnings |
3,091,532 |
2,706,986 |
|||
|
|
Evaluation
p/l on investments/securities |
291,911 |
300,313 |
|||
|
|
Others |
|
(90,902) |
(44,398) |
||
|
|
Treasury
stock, at cost |
(151,650) |
(151,572) |
|||
|
|
TOTAL S/HOLDERS` EQUITY |
3,600,990 |
3,268,695 |
|||
|
|
TOTAL EQUITIES |
11,347,442 |
10,856,850 |
|||
|
CONSOLIDATED CASH FLOWS |
|
|
||||
|
|
|
Terms ending: |
31/03/2011 |
31/03/2010 |
||
|
|
Cash
Flows from Operating Activities |
|
331,204 |
701,573 |
||
|
|
Cash
Flows from Investment Activities |
-262,601 |
-138,502 |
|||
|
|
Cash
Flows from Financing Activities |
76,749 |
-755,347 |
|||
|
|
Cash,
Bank Deposits at the Term End |
|
1,208,742 |
1,080,544 |
||
|
ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
||||
|
|
|
Net
Worth (S/Holders' Equity) |
3,600,990 |
3,268,695 |
||
|
|
|
Current
Ratio (%) |
150.54 |
147.96 |
||
|
|
|
Net
Worth Ratio (%) |
31.73 |
30.11 |
||
|
|
|
Recurring
Profit Ratio (%) |
2.78 |
1.74 |
||
|
|
|
Net
Profit Ratio (%) |
2.41 |
1.61 |
||
|
|
|
Return
On Equity (%) |
12.86 |
8.41 |
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.