|
Report Date : |
25.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SOJITZ MACHINERY CORPORATION |
|
|
|
|
Registered Office : |
Nihombashi Muromachi Center Bldg 9/10F, 3-2-15 Nihombashi-Muromachi Chuoku Tokyo 103-0022 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
April
2004 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Trading
house specializing in machinery |
|
|
|
|
No. of Employees : |
220 employees |
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 – 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 |
SOJITZ MACHINERY CORPORATION
Sojitz Machinery KK
Nihombashi Muromachi Center Bldg 9/10F, 3-2-15 Nihombashi-Muromachi
Chuoku Tokyo 103-0022
JAPAN
Tel:
03-5204-5600 Fax: 03-5204-5636
*.. The given address is its Osaka Office
URL: http://www.sojitz-mac.com/
E-Mail address: (thru the URL)
Trading
house specializing in machinery
Kimitsu, Osaka, Nagoya, Toyota, Kobe,
Yoshikawa
Shanghai, Singapore (--subsidiaries), Tianjin,
Changchun, Guangzhou (China) (-- representative
offices)
KAZUHIKO
NAKAJIMA, PRES Takashi
Miyake, s/mgn dir
Kosuke Ito, s/mgn
dir Shu Yoshida, mgn dir
Shigeo
Oshima, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 62,812 M
PAYMENTS No Complaints CAPITAL Yen 1,500 M
TREND SLOW WORTH Yen 3,698 M
STARTED 2004 EMPLOYES 220
TRADING
HOUSE SPECIALIZING IN MACHINERY, WHOLLY OWNED BY SOJITZ CORP.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of the integration of
five machinery- related companies: Nichimen Machinery Corporation, Nissho Iwai Mechatronics Corporation, Nissho Iwai Machinery System
Corporation, Nissho Iwai Chubu Machinery Co Ltd, and the NITEC Corporation
(formed in 1989 as a trading house of steel-making facilities, food machinery,
under the then Nissho Iwai Corporation), with NITEC as surviving company. Due to the merger of Nissho Iwai Corp and
Nichimen Corp to form Sojitz Holdings Corporation in
Apr 2004 (later in Oct 2005 renamed to Sojitz Corp),
the subject became 100% owned subsidiary of Sojitz
Corporation. This is a trading company
specializing in machinery (see OPERATION). Major clients include carmakers, steel mills,
heavy machinery mfrs, other, nationwide.
Operates 5 overseas offices: 4 in China and one in Singapore.
The sales volume for Mar/2012 fiscal term amounted to Yen 62,812
million, a2% up from Yen 61,674 million in the previous term. Sales to automobile industry fared well. The recurring profit was posted at Yen 1,384
million and the net profit at Yen 808 million, respectively, compared with Yen
1,115 million recurring profit and Yen 720 million net profit, respectively, a
year ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 1,400 million and the net profit at Yen 830 million, respectively, on a
2% rise in turnover, to Yen 64,000 million. Business is seen expanding
steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr 2004
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
80,000 shares
Issued: 30,000 shares
Sum: Yen 1,500
million
Major shareholders (%): Sojitz Corp*(100)
* Originally Sojitz Holding Corporation, renamed in Oct 2005 by merging subsidiary Sojitz Corp and shifted into non-financial company; founded 2003, listed Tokyo S/E, capital Yen 160,339 million, turnover Yen 4,494,237 million, operating profit Yen 64,522 million, recurring profit Yen 62,228 million, net loss Yen 3,644 million, total assets Yen 2,120,596 million, net worth Yen 330,471 million, employees 17,039, pres Yoji Sato
Nothing detrimental is known as to the commercial morality of executives.
Activities: A trading house for import, export and wholesale of the following items (--100%):
Electronics & Telecommunications Division: semiconductor mfg equipment, disk/liquid crystal unit mfg equip, measuring apparatus, other related equipment & machinery;
General Industrial Machinery Division: grinding machines, press machinery, laser facilities, heat-treatment equipment, recycling unit, other
Specific Industrial Machinery Division: machinery & facilities of industries of auto, food processing, steel mills, chemical plants, home electronics, forestry, other
Commercial, Servicing Division: security-related equipment, landscaping goods, car parking facilities, health & sports goods, home electronics appliances, other.
(Sales breakdown for each division are not made available.)
Clients: [Mfrs, wholesalers] Nippon Steel, Toyota Motor, Teijin Ltd, NEC, Nisshin Steel Co, S Alam Power Generation Ltd, Kobe Steel, JFE Steel, Sharp Corp, Nissan Motor, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kawasaki Machine Systems, Wartsila Finland OY, NTN, Ube Material Ind, Steel Plantech, NTN, Ebara Corp, Sojitz Europe PLC, Murata Machinery, Shibaura Mechatronics, Toshiba Machinery, Sanyo Electric, Matsushita Electric Ind, NEC, Nippon Steel Engineering, Sumitomo Precision Products, other.
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Tokyo)
Mizuho
Corporate Bank (Uchisaiwaicho)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
64,000 |
62,812 |
61,674 |
65,272 |
|
Recur.
Profit |
|
1,400 |
1,384 |
1,115 |
|
|
Net
Profit |
|
830 |
808 |
720 |
642 |
|
Total
Assets |
|
|
26,996 |
21,478 |
24,136 |
|
Current
Assets |
|
|
26,514 |
20,923 |
|
|
Current
Liabs |
|
|
23,263 |
17,722 |
|
|
Net
Worth |
|
|
3,698 |
3,697 |
3,467 |
|
Capital,
Paid-Up |
|
|
1,500 |
1,500 |
1,500 |
|
Div.Ttl in
Million (¥) |
|
|
720 |
642 |
1,065 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
1.89 |
1.85 |
-5.51 |
-20.12 |
|
|
Current Ratio |
|
.. |
113.97 |
118.06 |
.. |
|
N.Worth Ratio |
.. |
13.70 |
17.21 |
14.36 |
|
|
R.Profit/Sales |
|
2.19 |
2.20 |
1.81 |
.. |
|
N.Profit/Sales |
1.30 |
1.29 |
1.17 |
0.98 |
|
|
Return On Equity |
.. |
21.85 |
19.48 |
18.52 |
|
Notes: Forecast (or estimated) figures for the
31/03/2013 fiscal term
SUPPLEMENTS:
CONSOLIDATED FINANCIALS OF THE PARENT, SOJITZ CORP
|
FINANCES: (Consolidated
in million yen) |
|
|||||
|
|
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
||
|
INCOME STATEMENT |
|
|
||||
|
|
Annual Sales |
|
4,494,237 |
4,014,639 |
||
|
|
Cost of Sales |
4,262,671 |
3,821,914 |
|||
|
|
GROSS PROFIT |
231,566 |
192,725 |
|||
|
|
Selling & Adm
Costs |
167,044 |
155,205 |
|||
|
|
OPERATING PROFIT |
64,522 |
37,519 |
|||
|
|
Non-Operating P/L |
-2,294 |
7,797 |
|||
|
|
RECURRING PROFIT |
62,228 |
45,316 |
|||
|
|
NET PROFIT |
-3,649 |
15,981 |
|||
|
BALANCE SHEET |
|
|
|
|||
|
|
Cash |
|
442,706 |
415,694 |
||
|
|
Receivables |
|
490,708 |
478,880 |
||
|
|
Inventory |
|
270,645 |
243,210 |
||
|
|
Securities, Marketable |
1,297 |
5,437 |
|||
|
|
Other Current Assets |
92,795 |
123,408 |
|||
|
|
TOTAL CURRENT ASSETS |
1,298,151 |
1,266,629 |
|||
|
|
Property & Equipment |
233,260 |
215,774 |
|||
|
|
Intangibles |
|
124,497 |
132,695 |
||
|
|
Investments, Other Fixed Assets |
464,688 |
501,862 |
|||
|
|
TOTAL ASSETS |
2,120,596 |
2,116,960 |
|||
|
|
Payables |
|
481,799 |
414,984 |
||
|
|
Short-Term Bank Loans |
282,524 |
247,656 |
|||
|
|
|
|
|
|
||
|
|
Other Current Liabs |
183,099 |
227,904 |
|||
|
|
TOTAL CURRENT LIABS |
947,422 |
890,544 |
|||
|
|
Debentures |
|
80,000 |
82,719 |
||
|
|
Long-Term Bank Loans |
691,018 |
723,926 |
|||
|
|
Reserve for Retirement Allw |
14,232 |
13,136 |
|||
|
|
Other Debts |
|
57,453 |
51,124 |
||
|
|
TOTAL LIABILITIES |
1,790,125 |
1,761,449 |
|||
|
|
MINORITY INTERESTS |
|
|
|||
|
|
Capital, Paid-Up |
160,339 |
160,339 |
|||
|
|
Surplus |
|
170,132 |
195,171 |
||
|
|
SHAREHOLDERS' EQUITY |
330,471 |
355,510 |
|||
|
|
TOTAL EQUITIES |
2,120,596 |
2,116,960 |
|||
|
CONSOLIDATED CASH FLOWS |
|
|
||||
|
|
|
Terms ending: |
31/03/2012 |
31/03/2011 |
||
|
|
Cash
Flows from Operating Activities |
|
91,600 |
87,883 |
||
|
|
Cash
Flows from Investment Activities |
-42,387 |
-10,903 |
|||
|
|
Cash
Flows from Financing Activities |
-35,376 |
-72,054 |
|||
|
|
Cash,
Bank Deposits at the Term End |
|
427,274 |
415,261 |
||
|
ANALYTICAL RATIOS Terms ending: |
31/03/2012 |
31/03/2011 |
||||
|
|
|
Net Worth
(S/Holders' Equity) |
330,471 |
355,510 |
||
|
|
|
Current
Ratio (%) |
137.02 |
142.23 |
||
|
|
|
Net
Worth Ratio (%) |
15.58 |
16.79 |
||
|
|
|
Recurring
Profit Ratio (%) |
1.38 |
1.13 |
||
|
|
|
Net
Profit Ratio (%) |
-0.08 |
0.40 |
||
|
|
|
Return
On Equity (%) |
-1.10 |
4.50 |
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.38 |
|
UK Pound |
1 |
Rs.87.80 |
|
Euro |
1 |
Rs.69.48 |
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.