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Report Date : |
27.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUN MARIX CO LTD |
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|
|
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Registered Office : |
2-4-1 Terauchi Toyonaka Osaka-Pref 561-0872 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
November 1984 |
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Legal Form : |
Limited Company |
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Line of Business : |
Exporter of steels, steel products |
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|
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No. of Employees : |
04 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. 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. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan 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 and the ensuing
tsunami in March disrupted manufacturing. The economy has largely recovered in
the two years since the disaster, but reconstruction in the Tohoku region has
been uneven. Newly-elected Prime Minister Shinzo ABE has declared the economy
his government's top priority; he has pledged to reconsider his predecessor's
plan to permanently close nuclear power plants and is pursuing an economic
revitalization agenda of fiscal stimulus and regulatory reform and has said he
will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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 |
SUN MARIX CO LTD
KK Sun Marix
2-4-1 Terauchi
Toyonaka Osaka-Pref 561-0872 JAPAN
Tel:
06-6867-6600 Fax: 06-867-6601
URL: N/A
Export of steels, steel products
Nil
MITSUHIRO
IWAMOTO, PRES
Reiko Iwamoto, rep dir
Yasuhiro
Sobajima, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR
A/SALES Yen 2,400 M
PAYMENTSSlow but Correct CAPITAL Yen 61 M
TREND SLOW WORTH Yen 183 M
STARTED 1984 EMPLOYES 4
EXPORTER SPECIALIZING IN STEEL PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company
was established by Mitsuhiro Iwamoto in order to make most of his experience in
foreign trading. He owns 81.2% of the
company’s share. This is a trading firm,
owned by the Iwamoto family, specializing in exporting steels and steel
products. Main destination is China,
where demand for steel products is boosting from construction industries.
The sales volume for
Sept/2012 fiscal term amounted to Yen 2,400 million, an 11% down from Yen 2,700
million in the previous term. High Yen
hurt exports, reducing revenues and profits in Yen terms. The net profit was posted at Yen 5 million,
compared with Yen 7 million a year ago.
For the current term
ending Sept 2013 the net profit is projected at Yen 6 million, on an 8% rise in
turnover, to Yen 2,600 million.
Weakening Yen will help increase revenues in Yen terms.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Nov
1984
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
4,800 shares
Issued: 1,232 shares
Sum: Yen 61.6 million
Major shareholders (%): Mitsuhiro Iwamoto (81.2), Reiko
Iwamoto (16.2), Yasuhiro Sobajima (2.6)
No. of
shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports steels and steel products (--100%)
Clients: [Mfrs, wholesalers] Exports to China, etc
(80%).
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Osaka
Suppliers: Steel mfrs, wholesalers, general trading
houses, other
Payment record: Slow but Correct
Location: Business area in Toyonaka, Osaka-Pref. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References:
MUFG
(Osaka-Nishi)
Mizuho
Bank (Namba)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
Annual
Sales |
|
2,600 |
2,400 |
2,700 |
2,800 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
6 |
5 |
7 |
9 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
183 |
178 |
171 |
|
Capital,
Paid-Up |
|
|
61 |
61 |
61 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
8.33 |
-11.11 |
-3.57 |
27.27 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.23 |
0.21 |
0.26 |
0.32 |
|
Note:
Financials are only partially disclosed.
Forecast
(or estimated) for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.68 |
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.