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Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
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Name : |
MARUBENI CHEMIX CORPORATION |
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Registered Office : |
Sumitomo Fudosan Kanda Bldg 11F, 7 Kanda-Mitoshirocho Chiyodaku Tokyo |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
December, 1972 |
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Com. Reg. No.: |
0100-01-057357 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of organic chemicals, polymer,
food & feed additives |
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No. of Employees : |
93 |
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 |
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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 |
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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. 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.
|
Source
: CIA |
MARUBENI CHEMIX
CORPORATION
REGD NAME: Marubeni Chemix KK
MAIN OFFICE: Sumitomo Fudosan Kanda Bldg 11F, 7 Kanda-Mitoshirocho
Chiyodaku Tokyo
101-0053 JAPAN
Tel:
03-5217-7414
Fax: 03-5217-7410
URL: http://www.mrubenichemix.co.jp
E-Mail address: (thru
the URL)
Import, export, wholesale of organic chemicals, polymer,
food & feed additives
Osaka, Fukuoka, Toyama
China, Singapore, USA
HIROAKI MIYACHI, PRES Yoshihiro
Ono, mgn dir
Raita Yamaguchi, dir Akira
Terakawa, dir
Tadashi Hiroe, dir Jun
Horie, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 59,759 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 650 M
TREND STEADY WORTH Yen 3,138 M
STARTED 1972 EMPLOYES 93
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS, WHOLLY
OWNED BY MARUBENI CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a
chemical trading division separated from Marubeni Corp (See REGISTRATION). This is a trading firm for import, export and
wholesale of organic solvents, monomer & polymer, pharmaceutical
intermediates, food & feed additives, other. Clients include ink makers, oil refineries,
other, nationwide
The sales volume for Mar/2013 fiscal term amounted to Yen
59,759 million, a 7% up from Yen 56,097 million in the previous term. The recurring profit was posted at Yen 752 million
and the net profit at Yen 527 million, respectively, compared with Yen 727
million recurring profit and yen 405 million net profit, respectively, a year
ago.
For the term that ended Mar 2014 the recurring profit was
projected at Yen 770 million and the net profit at Yen 550 million,
respectively, on a 5% rise in turnover, to Yen 62,750 million. Final results are yet to be released.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date
Registered: Dec 1972
Regd
No.: 0100-01-057357
(Tokyo-Chiyodaku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
5.2 million shares
Issued:
1.3 million shares
Sum: Yen 650 million
Major
shareholders (%): Marubeni Corporation* (100)
*.. One of big 5 general trading houses, founded 1949,
listed Tokyo S/E, 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 7,193,334 million, net worth Yen
1,401,144 million, employees 39,126, pres Fumiya Kokubu.
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Imports, exports and wholesales organic solvents, various monomer & polymer
chemicals, pharmaceutical intermediates, food & feed additives, animal
drugs, and other specialty & industrial chemicals (--100%)
Clients:
[Mfrs, wholesalers] Nippon Paint, Idemitsu Kosan, Toyo Ink, Shoei Chemical,
Marubeni Specialty Chemicals Inc, LG Japan, Toyo Chem, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Idemitsu Kosan, Asahi Kasei Chemicals, Mitsui Chemical Ind,
JX Nippon Oil & Chemicals, Daiso Corp, Shoei Chemical, Showa Denko, other
Payment
record: No complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank
References:
MUFG
(Jinbocho)
Mizuho
Corporate Bank (Ohtemachi)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
62,750 |
59,759 |
56,097 |
56,769 |
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Recur. Profit |
|
770 |
752 |
727 |
716 |
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Net Profit |
|
550 |
527 |
405 |
428 |
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Total Assets |
|
|
18,675 |
15,672 |
14,484 |
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Current Assets |
|
|
16,723 |
14,106 |
13,250 |
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Current Liabs |
|
|
15,436 |
12,870 |
11,874 |
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Net Worth |
|
|
3,138 |
2,738 |
2,536 |
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Capital, Paid-Up |
|
|
650 |
650 |
650 |
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Div.Ttl in Million (¥) |
|
|
202.8 |
214.5 |
175.5 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.01 |
6.53 |
-1.18 |
8.81 |
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Current Ratio |
.. |
108.34 |
109.60 |
111.59 |
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N.Worth Ratio |
.. |
16.80 |
17.47 |
17.51 |
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R.Profit/Sales |
1.23 |
1.26 |
1.30 |
1.26 |
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N.Profit/Sales |
0.88 |
0.88 |
0.72 |
0.75 |
|
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Return On Equity |
.. |
16.79 |
14.79 |
16.88 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014
fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.97 |
|
|
1 |
Rs.102.90 |
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Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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 |
|
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.