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Report Date : |
26.04.2014 |
IDENTIFICATION DETAILS
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Name : |
MARUBENI TEKMATEX CORPORATION |
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Registered Office : |
Marubeni Tokyo Honsha Bldg 3F, 1-4-2 Ohtemachi Chiyodaku Tokyo
100-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
October 1973 |
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Com. Reg. No.: |
0100-01-057341 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Importer, Exporter and Wholesaler of Textile Machinery |
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No of Employees : |
70 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 |
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
Import, export, wholesale of textile machinery
Nil
SHINYA WATANOB, PRES Katsuhiro Suzuki, mgn dir
Ichiro Enomoto, dir Isao Nakagawa, dir
Hiroshi Tanaka, dir Shinichi Okumura, dir
In million Yen, unless otherwise stated
FINANCES FAIR
A/SALES Yen 57200 M
PAYMENTS
NO COMPLAINTS CAPITAL Yen
480 M
TREND STEADY WORTH Yen 2,445 M
STARTED 1973
EMPLOYES 70
TRADING FIRM SPECIALIZING IN
TEXTILE MACHINERY, OWNED BY MARUBENI CORATION.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS
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 through the overseas branch office of the parent and its
clients
Financials
are consolidated by the parent, Marubeni Corp, and only partially disclosed.
The sales
volume for Mar/2013 fiscal term is reported amounted to Yen 57,200 million, a
2% up from Yen 51,250 million in the previous term. The net profit was posted at Yen 488 million,
compared with Yen 572 million a year ago.
Some extraordinary losses are included in this term’s profits, but no
details. .
For
the current term ending Mar 2014 the net profit is projected at Yen 580
million, on a 3% rise in turnover, to Yen 58,900 million. Exports to China and other S/E Asian
countries continue increasing.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
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, Nagoya S/E’s, capital Yen 262,686 million, turnover Yen
10,509,088 million, operating profit Yen 122,932 million, recurring profit Yen
247,543 million, net profit Yen 205,696 million, total assets Yen 6,648,019
million, net worth Yen 1,280,425 million, employees 38,662, pres Fumiya Kokubu
Nothing detrimental is known as
to the commercial morality of executives.
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.
NO COMPLAINTS
Business area in Tokyo.
Office premises at the caption address are owned by the parent, Marubeni
Corp, and maintained satisfactorily.
Mizuho Bank (Iidabashi)
SMBC (Asakusabashi)
Relations: Satisfactory
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Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
|
58,900 |
57,200 |
56,000 |
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Recur.
Profit |
|
.. |
.. |
.. |
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Net
Profit |
|
580 |
488 |
572 |
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Total
Assets |
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|
13,008 |
19,267 |
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Net
Worth |
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|
2,445 |
2,180 |
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Capital,
Paid-Up |
|
|
480 |
480 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.97 |
2.14 |
9.27 |
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Current Ratio |
.. |
.. |
||
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N.Worth Ratio |
18.80 |
11.31 |
||
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N.Profit/Sales |
0.98 |
0.85 |
1.02 |
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Notes: Financials are only
partially disclosed.
Forecast (or estimated) figures
for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.12 |
|
|
1 |
Rs.102.71 |
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Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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 |
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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 |
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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.