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Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
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Name : |
METAX CORPORATION |
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Registered Office : |
4-4-1 Iwaya-Kitamachi Nakaku Kobe 657-0846 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
February 2005 |
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Com. Reg. No.: |
1400-01-024017 (Kobe-Nadaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of steel products, special metals,
nonferrous metals |
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|
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No. of Employees |
11 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Slow but correct |
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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 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
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. 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 |
METAX CORPORATION
REGD NAME: KK
Metax
MAIN OFFICE: 4-4-1
Iwaya-Kitamachi Nakaku Kobe 657-0846 JAPAN
Tel: 078-871-5666
Fax: 078-871-7885
URL: http://www.metax-corp.co.jp
E-Mail address: info@metax-corp.co.jp
Import, export,
wholesale of steel products, special metals, nonferrous metals
Nil
YOSHIO SHIRASUNA,
PRES Takeo Miyanaga, dir
Teruo Hayashi, dir Yasuo Kanazawa, dir
Hiroo Funabiki,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 4,166 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 10 M
TREND UP WORTH Yen 79 M
STARTED 2005 EMPLOYES 11
TRADING FIRM SPECIALIZING IN STEEL PRODUCTS,
NONFERROUS METAL PRODUCTS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company is a trading firm specializing in import, export and
wholesale of steel products, special metals, nonferrous steel products, other
(See OPERATION). Goods are imported from and to China, USA,
Europe, other.
Financials are disclosed only partially.
Profits are not precisely disclosed and estimated only.
The sales volume for Sept/2013 fiscal term amounted to Yen 4,166
million, a 2% up
from Yen 4,097 million in the previous
term. Exports to China increased. The net profit is estimated posted at Yen 20
million, compared with Yen 15 million a year ago.
For the current term ending Sept 2014 the
net profit is projected at Yen 25 million, on a 4% rise in turnover, to Yen
4,350 million. Business is seen
expanding steadily.
The financial situation is considered FAIR and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 88.9 million, on 30 days normal
terms.
Date Registered: Feb
2005
Regd No.:
1400-01-024017 (Kobe-Nadaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Global Management* (100)
*..
Holding company
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading firm
for import, export and wholesale of: steel products (wire rods, billet, round
bar, steel coil, steel plate, steel balls, other), special metals (tungsten,
molybdenum, nickel, cobalt, chromium, titan, other), nonferrous metals
(aluminum, copper, other) (--100%)
Clients: [Mfrs,
wholesalers] Exports to China, other Asia, USA, Europe, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Imports from China, USA, Europe, other
Domestically from Nisshin Kogyo Co, other
Payment record: Slow but corect
Location: Business area in
Kobe. Office premises at the caption
address are owned and maintained
satisfactorily.
Bank References:
SMBC (Kobe)
MUFG (Sannomiya)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
|
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
|
Annual
Sales |
|
4,350 |
4,166 |
4,097 |
4,245 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
25 |
20 |
15 |
20 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
79 |
59 |
45 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.42 |
1.68 |
-3.49 |
21.01 |
|
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Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
|
N.Profit/Sales |
0.57 |
0.48 |
0.37 |
0.47 |
|
Notes: Financials are only partially disclosed. Profits are not precisely disclosed and only
estimated.
Forecast (or
estimated) figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
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 |
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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 |
|
|
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 |
|
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<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.