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Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
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Name : |
ITOCHU MACHINE-TECHNOS CORP |
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Registered Office : |
Sanno Grand Bldg 3F, 2-14-2 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 : |
01.04.1966 |
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Com. Reg. No.: |
0100-01-010785
(Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter and wholesaler of industrial machinery, machine tools, generators, food making machinery, chemical equipment, gas turbine, semiconductor/LCD manufacturing machines, oil/chemical plant machinery, pulp & paper, plastic/films & electronics |
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No. of Employees |
220 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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. 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.
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Source : CIA |
ITOCHU MACHINE-TECHNOS CORP
Itochu Machine
Technos KK
Sanno Grand Bldg
3F, 2-14-2 Nagatacho Chiyodaku Tokyo 100-0014 JAPAN
Tel:
03-3506-3511 Fax: 03-3506-3520
E-mail: (thru the URL)
Import,
export, wholesale of industrial machinery, machine tools, food &
pharmaceutical machinery
Osaka,
Nagoya, Hiroshima, Fukuoka, other (Tot 7)
China,
Mexico (--subsidiaries)
MASAHIRO
IWASAKI, PRES Shigemi Kondo, mgn dir
Masahiko Kobayashi, mgn dir Yoshiyuki Hayashi, dir
Masaru Tanba, dir Toru
Sasaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 30,230 M
PAYMENTSNo Complaints
CAPITAL Yen 300 M
TREND SLOW WORTH Yen 3,117 M
STARTED 1966 EMPLOYES 220
TRADING
FIRM SPECIALIZING IN INDUSTRIAL MACHINER, WHOLLY OWNED BY ITOCHU CORP
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established on the basis of a
machinery division separated from Itochu Corp, nation’s leading general trading
house, Tokyo (See REGISTRATION). In Apr 2010, merged a sister company, Itochu
Mechatronics Corp, and renamed as captioned.
This is a trading firm specializing in industrial machinery, machine
tools, food-processing equipment, electronics, other (See OPERATION). Overseas
subsidiaries in China & Mexico.
The sales volume for Mar/2013 fiscal term amounted to Yen 30,230 million, a 3% down from Yen 31,061. The recurring profit was posted at Yen 1,151 million and the net profit at Yen 670 million, respectively, compared with Yen757 million recurring profit and Yen 447 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at Yen 1,200 million and the net profit at Yen 690 million, respectively, on a 4% rise in turnover, to Yen 31,500 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: 01
Apr 1966
Regd No.: 0100-01-010785 (Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2.4 million shares
Issued: 600,000 shares
Sum: Yen
300 million
Major shareholders (%):
Itochu Corp* (100)
*.. One of big 5 general trading houses of Japan, Tokyo, founded 1949, listed Tokyo S/E, capital Yen 202,241 million, turnover Yen 12,551,557 million, operating profit Yen 244,219 million, recurring profit Yen 311,112 million, net profit Yen 280,297 million, total assets Yen 7,584,546 million, net worth Yen 1,949,670 million, employees 104,543, pres Masahiro Okafuji
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales industrial machinery, machine tools, generators, food making machinery, chemical equipment, gas turbine, semiconductor/LCD mfg machines, oil/chemical plant machinery, pulp & paper, plastic/films, electronics, other (--100%).
Clients: [Mfrs, wholesalers] Oji F-Tex, Anhui Technology, Mazda, Texmac, Kawasaki Heavy Ind, Nippon Steel & Sumikin Metal Ind, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Bruckner Machine, Hitachi Plant Technology, Polytype Converting, Toshiba Machinery, Hugo Miebach, 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 (Tokyo)
MUFG
(Akasaka)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual
Sales |
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31,500 |
30,230 |
31,061 |
24,776 |
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Recur.
Profit |
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1,200 |
1,151 |
757 |
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Net
Profit |
|
690 |
670 |
447 |
378 |
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Total
Assets |
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15,147 |
14,975 |
12,453 |
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Current
Assets |
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|
14,092 |
13,588 |
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Current
Liabs |
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|
11,281 |
11,391 |
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Net
Worth |
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|
3,117 |
2,665 |
2,231 |
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Capital,
Paid-Up |
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|
300 |
300 |
300 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.20 |
-2.68 |
25.37 |
55.48 |
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Current Ratio |
.. |
124.92 |
119.29 |
.. |
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N.Worth Ratio |
.. |
20.58 |
17.80 |
17.92 |
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R.Profit/Sales |
3.81 |
3.81 |
2.44 |
.. |
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N.Profit/Sales |
2.19 |
2.22 |
1.44 |
1.53 |
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Return On Equity |
.. |
21.50 |
16.77 |
16.94 |
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Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
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UK Pound |
1 |
Rs.103.44 |
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Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
-- |
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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.