MIRA INFORM REPORT

 

 

Report Date :

30.06.2012

 

IDENTIFICATION DETAILS

 

Name :

MARUBENI PROTECHS CORPORATION

 

 

Registered Office :

Iidabashi Masumoto Bldg 4F, 1-21 Agebacho Shinjukuku Tokyo 162-0824

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

September 1995

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Exporter of industrial plant & equipment

 

 

No. of Employees :

80

 

 

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 :

Good

Payment Behaviour :

Regular

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

Company name

 

MARUBENI PROTECHS CORPORATION

 

 

REGD NAME

 

Marubeni Protechs KK

 

 

MAIN OFFICE

 

Iidabashi Masumoto Bldg 4F, 1-21 Agebacho Shinjukuku Tokyo 162-0824 JAPAN

Tel: 03-5261-1666      Fax: 03-5261-2040

           

URL:                 http://www.m-protechs.com

E-Mail address:            mpc@mpc.marubeni.co.jp

 

 

ACTIVITIES  

 

Export of industrial plant & equipment

 

 

BRANCHES

 

Nil

 

 

OVERSEAS

 

USA, Hungary, Czech

 

 

OFFICERS

 

KENJI IKEDA, PRES                 Katsuhei Yamamoto, s/mgn dir

Hideto Sekine, mgn dir               Junji Yokohama, mgn dir

Nobuhiko Yoshida, dir                Ichiro Tada, dir              

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES        FAIR                 A/SALES          Yen 8,599 M

PAYMENTS      REGULAR         CAPITAL           Yen 495 M

TREND UP                    WORTH            Yen 1,144 M

STARTED         1995                 EMPLOYES      80

 

 

COMMENT    

 

EXPORTER OF INDUSTRIAL PLANTS & FACILITIES, 100% OWNED BY MARUBENI CORP.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

 

The subject company was established on the basis of a division separated from Marubeni Corporation (See REGISTRATION). This is a trading firm specializing in exporting industrial plants & facilities, ranging from petrochemicals, industrial chemicals, steel mills, other.  It also assists to transfer domestic plants to overseas. 

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2011 fiscal term amounted to Yen 8,599 million, a 2% up from Yen 8,449 million in the previous term.  Exports of steel plants & facilities rose.  The recurring profit was posted at Yen 344 million and the net profit at Yen 145 million, respectively, compared with Yen 89 million recurring profit and Yen 56 million net profit, respectively, a year ago.

 

For the term that ended Mar 2012 the recurring profit was projected at Yen 350 million and the net profit at Yen 150 million, respectively, on a 5% rise in turnover, to Yen 9,050 million.   Final results are yet to be released.

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Sept 1995

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         39,600 shares

Issued:                9,900 shares

Sum:                   Yen 495 million

Major shareholders (%): Marubeni Corp* (100)

 

*.. One of big 5 general trading houses, founded 1949, listed Tokyo, Osaka, Nagoya S/E’s, capital Yen 262,686 million, turnover Yen 10,584,393 million (up 17.3% from the previous term), operating profit Yen 157,315 million, recurring profit Yen 260,983 million, net profit Yen 172,125 million, total assets Yen 5,129,887 million, net worth Yen 915,770 million, employees 4,096, pres Teruo Asada.

 

Consolidated Financials are attached (See SUPPLEMENTS).

 

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

 

 

OPERATION

           

Activities: Exports industrial plants & facilities, such as chemicals, petroleum, steel, other (--100%)

 

Clients: [Mfrs, wholesalers] JFE Group firms, Marubeni Corp, Chugai Ro Co, Daisan Steel, other 

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Mitsui Engineering & Shipbuilding Co, Mitsubishi Heavy Ind, IHI, Hitachi, Ltd, Marubeni Corp, Ibiden Co, other

 

Payment record: Regular

 

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

 

Bank References:

Mizuho Corporate Bank (Ohtemachi)

MUFG (H/O)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

9,050

8,599

8,449

13,226

Recur. Profit

　

350

344

89

　

Net Profit

　

150

145

56

119

Total Assets

　

　

5,257

4,399

8,297

Current Assets

　

　

4,868

3,941

　

Current Liabs

　

　

3,857

3,105

　

Net Worth

　

　

1,144

1,028

1,030

Capital, Paid-Up

　

　

495

495

495

Div.P.Share(¥)

　

　

31.00

65.00

136.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.24

1.78

-36.12

..

    Current Ratio

 

..

126.21

126.92

..

    N.Worth Ratio

..

21.76

23.37

12.41

    R.Profit/Sales

 

3.87

4.00

1.05

..

    N.Profit/Sales

1.66

1.69

0.66

0.90

    Return On Equity

..

12.67

5.45

11.55

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

 

SUPPLEMENTs

 

CONSOLIDATED FINANCIALS OF THE PARENT, MARUBENI CORPORATION

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2012

31/03/2011

INCOME STATEMENT

 

 

 

  Annual Sales

　

10,584,393

9,020,468

 

  Cost of Sales

10,042,939

8,498,314

 

      GROSS PROFIT

541,454

522,154

 

  Selling & Adm Costs

384,139

376,380

 

      OPERATING PROFIT

157,315

145,774

 

  Non-Operating P/L

103,668

61,443

 

      RECURRING PROFIT

260,983

207,217

　

      NET PROFIT

172,125

136,541

BALANCE SHEET

 

 

 

 

  Cash

　

677,312

616,303

 

  Receivables

 

1,009,361

884,872

 

  Inventory

 

443,136

372,156

 

  Securities, Marketable

2,438

2,870

 

  Other Current Assets

511,646

521,590

 

      TOTAL CURRENT ASSETS

2,643,893

2,397,791

 

  Property & Equipment

648,533

639,366

 

  Intangibles

 

85,815

85,406

 

  Investments, Other Fixed Assets

1,751,646

1,556,526

 

      TOTAL ASSETS

5,129,887

4,679,089

 

  Payables

 

869,324

732,560

 

  Short-Term Bank Loans

126,459

105,275

 

　

 

　

　

 

  Other Current Liabs

843,168

898,317

 

      TOTAL CURRENT LIABS

1,838,951

1,736,152

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

2,268,552

2,021,241

 

  Reserve for Retirement Allw

60,887

53,411

 

  Other Debts

　

45,727

36,555

 

      TOTAL LIABILITIES

4,214,117

3,847,359

 

      MINORITY INTERESTS

 

 

 

Common stock

262,686

262,686

 

Additional paid-in capital

158,237

157,908

 

Retained earnings

856,286

212,815

 

Evaluation p/l on investments/securities

19,510

21,005

 

Others

 

(380,172)

177,997

 

Treasury stock, at cost

(777)

(681)

 

      TOTAL S/HOLDERS` EQUITY

915,770

831,730

　

      TOTAL EQUITIES

5,129,887

4,679,089

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2012

31/03/2011

 

Cash Flows from Operating Activities

　

172,599

210,044

 

Cash Flows from Investment Activities

-273,689

-128,495

 

Cash Flows from Financing Activities

171,913

-17,010

　

Cash, Bank Deposits at the Term End

　

677,312

616,003

ANALYTICAL RATIOS            Terms ending:

31/03/2012

31/03/2011

 

 

Net Worth (S/Holders' Equity)

915,770

831,730

 

 

Current Ratio (%)

143.77

138.11

 

 

Net Worth Ratio (%)

17.85

17.78

 

 

Recurring Profit Ratio (%)

2.47

2.30

 

 

Net Profit Ratio (%)

1.63

1.51

 

 

Return On Equity (%)

18.80

16.42


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.31

UK Pound

1

Rs.88.06

Euro

1

Rs.70.91

 

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%)

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.