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Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
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Name : |
ENEOS GLOBE CORPORATION |
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Registered Office : |
Snno Park Tower 15F, 2-11-1 Nagatacho
Chiyodaku Tokyo 100-0014 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
December 2004 |
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Com. Reg. No.: |
0100-01-090889 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of LPG |
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No. of Employees |
275 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 12,171.6 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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. Prime Minister Shinzo ABE has declared the economy his government's top priority; he has overturned his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans Pacific Partnership negotiations in 2013, a pact that would open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2013 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 is exceeding 230% of GDP. To help raise government revenue and reduce public debt, Japan decided in 2013 to gradually increase the consumption tax to a total of 10% by the year 2015. Japan is making progress on ending deflation due to a weaker yen and higher energy costs, but reliance on exports to drive growth and an aging, shrinking population pose other major long-term challenges for the economy
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Source
: CIA |
ENEOS GLOBE CORPORATION
REGD NAME: ENEOS
Globe KK
MAIN OFFICE: Snno
Park Tower 15F, 2-11-1 Nagatacho Chiyodaku Tokyo 100-0014 JAPAN
Tel:
03-5253-9060 Fax: 03-5253-9491
URL: http://www.eneos-globe.co.jp
E-Mail address: (thru the URL)
Import, wholesale
of LPG
Sapporo, Sendai,
Kanazawa, Osaka, Hiroshima, Fukuoka, other (Tot 20)
8 locations
(Parent and group companies)
JUN MATSUZAWA,
PRES Masakazu Sato, rep dir
Hajime Tamaki, dir Hirofumi Utagawa, dir
Hideto Kanamori,
dir Minoru Ozawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 404,217 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 2,000 M
TREND UP WORTH Yen 50,284 M
STARTED 2004 EMPLOYES 275
TRADING FIRM SPECIALIZING IN LPG.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 12,171.6 MILLION, 30 DAYS NORMAL TERMS
The subject company was established originally in 1960 as Bridgestone
LPG Corporation, and in 1991 merged with Mitsui Petroleum Corp, and renamed as
Mitsui LPG Corp. In 2004 merged with
Marubeni LPG Corp to rename as Marubeni Mitsui LNG Corporation. And in 2004, three parties merged: JX Nippon
Energy & Sumitomo Mining Corp, Marubeni LPG Corp and Mitsui LPG Corp, and
renamed as captioned. This is a trading
firm, with mfg division, for import and wholesale of LPG. LPG’s are manufactured and processed at group
refineries. Clients include oil
companies, chemical firms, other, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 404,217 million,
a 15% up from Yen 350,524 million in the previous term. This is attributed to the hike in LPG
prices. The recurring profit was posted
at Yen 7,695 million and the net profit at Yen 4,954 million, respectively,
compared with Yen 3,854 million recurring profit and Yen 2,997 million net
profit, respectively, a year ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 8,500 million and the net profit at Yen 5,800 million, respectively, on a
15% rise in turnover, to Yen 465,000 million.
Weaker Yen contributed to raise earnings in Yen terms. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 12,171.6 million, on 30 days normal terms.
Date Registered: Dec
2004
Regd No.:
0100-01-090889 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 533,344 shares
Issued: 133,336 shares
Sum: Yen 2,000 million
Major
shareholders (%): JX Holdings Inc* (50), Mitsui & Co (30), Marubeni Corp (20)
No. of shareholders: 3
*.. JX Holdings Inc, established thru
business consolidation of Nippon Oil and Nippon Mining Holdings in 2010, listed
Tokyo /E, capital Yen 100,000 million, sales Yen 11,219,474 million, operating
profit Yen 251,467 million, recurring profit Yen 328,300 million, net profit
Yen 159,477 million, total assets Yen 7,401,478 million, net worth Yen
2,078,105 million, employees 25,569, pres Isao Matsushita,
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales LPG, manufactured by the group oil refiners (--100%)
Clients: [Mfrs,
wholesalers] JX Nippon Oil & Energy Corp (4.9%), Nittsu Shoji Co, Kamei
Corp, Misumi, Saisan Co, San-Ai Oil, Mitsui Oil, Nichibei Koyu Co, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] JX Nippon Mining & Energy Corp (10.2%), KPC, ADNOC, TASWEEK,
Itochu Corp, Marubeni Corp, Sumitomo Corp, other
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (H/O)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
465,000 |
404,217 |
350,524 |
186,243 |
|
Recur.
Profit |
|
8,500 |
7,695 |
3,854 |
6,069 |
|
Net
Profit |
|
5,800 |
4,954 |
2,997 |
1,096 |
|
Total
Assets |
|
|
148,564 |
146,094 |
167,449 |
|
Current
Assets |
|
|
106,644 |
103,536 |
125,570 |
|
Current
Liabs |
|
|
82,881 |
80,091 |
99,789 |
|
Net
Worth |
|
|
50,284 |
47,445 |
44,902 |
|
Capital,
Paid-Up |
|
|
2,000 |
2,000 |
2,000 |
|
Div.Ttl
in Million (¥) |
|
|
1,878 |
724 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
15.04 |
15.32 |
88.21 |
9.34 |
|
|
Current Ratio |
|
.. |
128.67 |
129.27 |
125.84 |
|
N.Worth Ratio |
.. |
33.85 |
32.48 |
26.82 |
|
|
R.Profit/Sales |
|
1.83 |
1.90 |
1.10 |
3.26 |
|
N.Profit/Sales |
1.25 |
1.23 |
0.86 |
0.59 |
|
|
Return On Equity |
.. |
9.85 |
6.32 |
2.44 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.