MIRA INFORM REPORT

 

 

Report Date :

30.11.2012

 

IDENTIFICATION DETAILS

 

Name :

MARUBENI TEKMATEX CORPORATION

 

 

Registered Office :

Marubeni Tokyo Honsha Bldg 3F, 1-4-2 Ohtemachi Chiyodaku Tokyo 100-0004

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

October, 1973

 

 

Reg. No.:

0100-01-057341

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of textile machinery

 

 

No. of Employees :

65

 

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

(31.03.2011)

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 TEKMATEX CORPORATION

 

 

REGD NAME

 

Marubeni Tekmatex KK

 

 

MAIN OFFICE

 

Marubeni Tokyo Honsha Bldg 3F, 1-4-2 Ohtemachi Chiyodaku Tokyo 100-0004

JAPAN

Tel: 03-6212-5123     Fax: 03-6212-5135

 

URL:                 http//:www.tekmatex.jp

E-mail:             info@tekmatex.jp          

 

 

ACTIVITIES  

 

Import, export, wholesale of textile machinery

 

 

BRANCHES

 

Nil

 

 

OFFICER(S)  

 

NOBUHIRO TAKANO, PRES      Katsuhiro Suzuki, mgn dir

Ichiro Enomoto, dir                     Masataka Kuramoto, dir

Hideo Nakano, dir                      Hiroshi Nakagawa, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 56,000 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 480 M

TREND STEADY                       WORTH            Yen 2,180 M

STARTED         1973                             EMPLOYES      65

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN TEXTILE MACHINERY, OWNED BY

MARUBENI CORATION. 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

 

HIGHLIGHTS

           

The subject company was established on the basis of a textile division separated from Marubeni Corp, leading general trading house, Tokyo (See REGISTRATION).  This is a trading firm specializing in textile machinery, and other industrial machinery.  In 1976, succeeded the domestic sales & importing businesses of the Textile Machinery Dept of Marubeni Corp.  In 1989, succeeded a part of importing business of the Dept, and advances simultaneously into the industrial machinery field.  In 1997, merged a sister company, Marubeni Tekmatex International Ltd, and renamed as captioned.  In 2000, merged a sister company, Tekma Engineering Co Ltd, to create a newly organized Marubeni Tekmatex Corp.  Goods are actively exported to China and S/E Asian countries.

 

 

FINANCIAL INFORMATION

 

Financials are consolidated by the parent, Marubeni Corp, and only partially disclosed.

 

The sales volume for Mar/2012 fiscal term is reported amounted to Yen 56,000 million, a 9% up from Yen 51,250 million in the previous term.  Exports of textile machinery to China and other Asian countries were firm.  The net profit was posted at Yen 572 million, compared with Yen 200 million a year ago.  Some extraordinary profits are included in this term’s profits, but no details.  .

 

For the current term ending Mar 2013 the net profit is projected at Yen 350 million, on a 3% rise in turnover, to Yen 57,500 million.  Exports to China and other S/E Asian countries continue increasing.

           

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 1,138.5 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:          Oct 1973

Regd No.:                     0100-01-057341 (Tokyo-Chiyodaku)

Legal Status:   　         Limited Company (Kabushiki Kaisha)

Authorized:      　         3.84 million shares

Issued:             　960,000 shares

Sum:                　         Yen 480 million

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

 

*.. One of big 5 general trading houses, Tokyo, founded 1949, listed Tokyo, Osaka, Nagoya S/E’s, capital Yen 262,686 million, turnover 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 3,290,134 million, net worth Yen 899,499 million, employees 32,445, pres Teruo Asada

           

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

 

 

OPERATION

 

Activities: Imports, exports and wholesales textile machinery: spinning equipment, weaving equipment, printing/dyeing equipment, knitting equipment, other industrial machinery (--100%).

 

Clients: [Mfrs, wholesalers] Tekmatex Inc (USA), Tekmatex Europe, Marubeni Corp, Toray Ind, Mitsubishi Rayon Engineering, Nitto Boseki Co, Unitika Ltd, Toyobo Co, Kondo Cotton Spinning Co, Nisshinbo Textile Inc, other

No. of accounts: 800

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Tsudakoma Corp, Murata Machinery, Toyota Industries Corp, Shimadz Corp, Hitachi Ltd, Toray Ind, Inoue Steel Works, Arioli, Liba, 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:

Mizuho Bank (Iidabashi)

SMBC (Asakusabashi)

Relations: Satisfactory

 

 

FINANCES

 

 (In Million Yen)

　

　

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

　

57,500

56,000

51,250

50,000

Recur. Profit

　

　

　

　

　

Net Profit

　

350

572

200

190

Total Assets

　

　

19,267

N/A

N/A

Net Worth

　

　

2,180

1,608

1,408

Capital, Paid-Up

　

　

480

480

480

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.68

9.27

2.50

0.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

11.31

..

..

    N.Profit/Sales

0.61

1.02

0.39

0.38

 

Notes: Financials are only partially disclosed.

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

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.20

UK Pound

1

Rs.88.37

Euro

1

Rs.71.47

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.