|
Report Date : |
02.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
MATSUMOTO & CO LTD |
|
|
|
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Registered Office : |
Honmachi Matsumoto Bldg, 4-6-22 Honmachi Chuoku Osaka 541-0053 |
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|
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Country : |
Japan |
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|
|
Financials (as on) : |
31.01.2012 |
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Date of Incorporation : |
May 1973 |
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Com. Reg. No.: |
(Osaka-Naniwaku) 039994 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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|
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Line of Business : |
Import, export of welding machinery, welding rods, other industrial machinery |
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|
|
|
No. of Employees : |
8 |
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
MATSUMOTO & CO LTD
REGD NAME: Matsumoto
Boeki KK
MAIN OFFICE: Honmachi
Matsumoto Bldg, 4-6-22 Honmachi Chuoku Osaka 541-0053 JAPAN
Tel:
06-4705-4777 Fax: 06-4705-4781
*.. Registered at:
4-5-21 Sakurakawa Naniwaku Osaka
URL: N/A
Import, export of
welding machinery, welding rods, other industrial machinery
Nil
China
TSUNENORI
MATSUMOTO, PRES
Tokuji Matsumoto,
dir
Hitoshi Kawano,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,623 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 15
M
TREND UP WORTH Yen 492 M
STARTED 1973 EMPLOYES 8
EXPORTER OF
WELDING MACHINERY & RODS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was
established by Tsunenori Matsumoto in order to make most of his experience in
the subject line of business. This is a
trading firm specializing in export of welding machinery/equipment, welding
rods, and other industrial machinery.
Goods are partially imported.
Export destinations are: Hong Kong, China, Philippines, Pakistan, Saudi
Arabia, Europe, USA, other.
Financials are only
partially disclosed.
The sales volume for Jan/2012 fiscal term amounted
to Yen 1,623 million, an 18% up from Yen 1,372 million in the previous
term. Exports were robust into China and
other S/E Asian countries on the back of rapid recovery of economic activities. Exports volumes compensated the loss of
earnings from the high Yen. The net
profit was posted at Yen 23 million, compared with Yen 24 million a year
ago. .
For the current
term ending Jan 2013 the net profit is projected at Yen 25 million, on a 5%
rise in turnover, to Yen 1,700 million.
Exports continue rising.
The financial situation
is considered FAIR and good for ORDINARY business engagements.
Date Registered: May 1973
Regd No.:
(Osaka-Naniwaku) 039994
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 120,000 shares
Issued: 30,000 shares
Sum: Yen 15 million
Major shareholders (%): Tsunenori
Matsumoto (35.5), T Zushi (10), Tokuji Matsumoto (9), Toshiko Matsumoto (5),
Hitoshi Kawano (4)
No. of shareholders: 14
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Exports, imports
and wholesales welding machinery/equipment (30%), welding rods (20%), other
industrial machinery & equipment (--50%).
Clients: [Mfrs, wholesalers]
Exports to Philippines, Hong Kong, China, S/E Asia, Saudi Arabia, Arab
Emirates, Europe, USA, Thailand, other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in greater-Osaka
Suppliers: [Mfrs,
wholesalers] Matsumoto Machinery, Daihen Osaka Japan, Nichia Welding
Electrodes, Koike Sanso Kogyo, Okudaya Giken Co, Nikko Kasei Co, New Registon
Co, Matsumoto Machinery Tianjiang, other.
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Resona Bank
(Sakurakawa)
MUFG (Osaka-Nishi)
Relations:
Satisfactory
(In Million
Yen)
|
|
|
31/01/2013 |
31/01/2012 |
31/01/2011 |
31/01/2010 |
|
Annual
Sales |
|
1,700 |
1,623 |
1,372 |
1,121 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
25 |
23 |
24 |
12 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
492 |
476 |
459 |
|
Capital,
Paid-Up |
|
|
15 |
15 |
15 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.74 |
18.29 |
22.39 |
-35.39 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.47 |
1.42 |
1.75 |
1.07 |
|
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/01/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.