MIRA INFORM REPORT

 

 

Report Date :

17.11.2012

 

IDENTIFICATION DETAILS

 

Name :

MARUBENI CHEMIX CORPORATION

 

 

Registered Office :

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

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

December 1972

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of organic chemicals, polymer, food & feed additives

 

 

No. of Employees :

98 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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

japan - ECONOMIC OVERVIEW

 

In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.

 

 

Source : CIA

 

 

 

Company name

 

MARUBENI CHEMIX CORPORATION

 

 

REGD NAME 

 

Marubeni Chemix KK

 

 

MAIN OFFICE

 

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

Tel: 03-3282-2371      Fax: 03-3282-2388

 

URL:                 http://www.mrubenichemix.co.jp

E-Mail address:            (thru the URL)

 

 

ACTIVITIES

 

Import, export, wholesale of organic chemicals, polymer, food & feed additives

 

 

BRANCHES

 

Osaka, Fukuoka, Toyama

 

 

OVERSEAS

 

China, Singapore, USA

 

 

OFFICERS

 

HIROAKI MIYACHI, PRES          Raita Yamaguchi, dir

Akira Terakawa, dir                    Masayasu Kawasaki, dir

           

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 56,097 M

PAYMENTS      No Complaints          CAPITAL           Yen 650 M

TREND             STEADY                       WORTH            Yen 3,738 M

STARTED                     1972                             EMPLOYES      98

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS, WHOLLYOWNED BY MARUBENI CORP.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

The subject company was established on the basis of a chemical trading division separated from Marubeni Corp (See REGISTRATION)  This is a trading firm for import, export and wholesale of organic solvents, monomer & polymer, pharmaceutical intermediates, food & feed additives, other.  Clients include ink makers, oil refineries, other, nationwide

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2012 fiscal term amounted to Yen 56,097 million, a 1% down from Yen 56,769 million in the previous term.  The recurring profit was posted at Yen 727 million and the net profit at Yen 405 million, respectively, compared with Yen 716 million recurring profit and yen 428 million net profit, respectively, a year ago.

 

For the current term ending Mar 2013 the recurring profit is projected at Yen 730 million and the net profit at Yen 410 million, respectively, on a 2% rise in turnover, to Yen 57,000 million. 

 

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

 

 

REGISTRATION

 

Date Registered:             Dec 1972

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         5.2 million shares

Issued:                1.3 million shares

Sum:                   Yen 650 million

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

 

*.. One of 5 general trading houses, originally textile trader in Osaka, Tokyo, founded

1949, listed Tokyo, Osaka, Nagoya S/E’s, capital Yen 162,686 million, sales Yen 10,584,393 million, operating profit Yen 157,315 million, recurring profit Yen 260,983 million, net profit Yen 172,125 million, total assets Yen 5,290,134 million, net worth Yen 899,499 million, employees 12,445, pres Teruo Asada

 

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

 

 

OPERATION

           

Activities: Imports, exports and wholesales organic solvents, various monomer & polymer chemicals, pharmaceutical intermediates, food & feed additives, animal drugs, and other specialty & industrial chemicals (--100%)

 

Clients: [Mfrs, wholesalers] Nippon Paint, Idemitsu Kosan, Toyo Ink, Toyo Chem, other 

            No. of accounts: 500

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Idemitsu Kosan, Asahi Kasei Chemicals, Mitsui Chemical Ind, JX Nippon Oil & Chemicals, Daiso Corp, other

 

Payment record: No Complaints

 

Location: Business area in Tokyo.  Office premises at the caption address are owned by the parent, Marubeni Corp, and maintained satisfactorily.

 

Bank References:

MUFG (Jinbocho)

Mizuho Corporate Bank (Ohtemachi)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

　

57,000

56,097

56,769

52,172

Recur. Profit

　

730

727

716

　

Net Profit

　

410

405

428

350

Total Assets

　

　

15,672

14,484

12,724

Current Assets

　

　

14,106

13,250

　

Current Liabs

　

　

12,870

11,874

　

Net Worth

　

　

2,738

2,536

2,326

Capital, Paid-Up

　

　

650

650

60

Div Ttl in million(¥)

　

　

214

175

133

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

1.61

-1.18

8.81

-18.76

    Current Ratio

 

..

109.60

111.59

..

    N.Worth Ratio

..

17.47

17.51

18.28

    R.Profit/Sales

 

1.28

1.30

1.26

..

    N.Profit/Sales

0.72

0.72

0.75

0.67

    Return On Equity

..

14.79

16.88

15.05

 

Notes: Forecast (or estimated) figures for the 31/03/2013 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.99

UK Pound

1

Rs.87.21

Euro

1

Rs.70.22

 

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.