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Report Date : |
04.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SOJITZ MACHINERY CORPORATION |
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Registered Office : |
Nihombashi Muromachi Center Bldg 9/10F, 3-2-15 Nihombashi-Muromachi, Chuoku Tokyo 103-0022 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 2004 |
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Legal Form : |
Limited Company |
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Line of Business : |
Trading firm specializing in machinery |
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No of Employees : |
219 |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate 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 |
SOJITZ
MACHINERY CORPORATION
Sojitz Machinery KK
Nihombashi Muromachi Center Bldg 9/10F,
3-2-15 Nihombashi-Muromachi
Chuoku Tokyo 103-0022 JAPAN
Tel: 03-5204-5600 Fax: 03-5204-5636
*.. The is its Osaka Office
URL: http://www.sojitz-mac.com/
E-Mail address: (thru the URL)
Trading firm specializing in
machinery
Kimitsu, Osaka, Nagoya, Toyota,
Saitama, Sendai
Shanghai, Singapore (--subsidiaries),
Tianjin, Changchun, Guangzhou (China)
(-- representative offices)
TATSUNOBU SAKO, PRES Kazuhiko Nakajima, ch
Takashi Miyake, s/mgn dir Kosuke
Ito, s/mgn dir
Yasuhide Toda, dir Shigeki
Dantani, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 65,672 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 1,500 M
TREND UP WORTH Yen 3,763 M
STARTED 2004 EMPLOYES 219
TRADING HOUSE SPECIALIZING IN MACHINERY, WHOLLY OWNED BY
SOJITZ CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established on the basis of the
integration of five machinery-related companies: Nichimen Machinery
Corporation, Nissho Iwai Mechatronics Corporation, Nissho Iwai Machinery System
Corporation, Nissho Iwai Chubu Machinery Co Ltd, and the NITEC Corporation
(formed in 1989 as a trading house of steel-making facilities, food machinery,
under the then Nissho Iwai Corporation), with NITEC as surviving company. Due to the merger of Nissho Iwai Corp and
Nichimen Corp to form Sojitz Holdings Corporation in Apr 2004 (later in Oct
2005 renamed to Sojitz Corp), the subject became 100% owned subsidiary of
Sojitz Corporation. This is a trading
company specializing in machinery (see OPERATION). Major clients include carmakers, steel mills,
heavy machinery mfrs, other, nationwide.
Operates 4 overseas offices: 3 in China and one in Singapore.
The sales
volume for Mar/2013 fiscal term amounted to Yen 65,672 million, a 5% up from
Yen 62,812 million in the previous term.
Sales to automobile industry fared well.
The recurring profit was posted at Yen 1,334 million and the net profit
at Yen 817 million, respectively, compared with Yen 1,364 million recurring
profit and Yen 806 million net profit, respectively, a year ago.
For
the term that ended Mar 2014 the recurring profit was projected at Yen 1,400
million and the net profit at Yen 900 million, respectively, on a 3% rise in
turnover, to Yen 67,500 million. Final results are yet to be released. Business is seen expanding steadily.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered:
Apr 2004
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 30,000
shares
Sum: Yen
1,500 million
Major shareholders (%): Sojitz Corp*(100)
* Originally Sojitz Holding Corporation, renamed in Oct 2005
by merging subsidiary Sojitz Corp and shifted into non-financial company;
founded 2003, listed Tokyo S/E, capital Yen 160,339 million, turnover Yen
4,016,577 million, operating profit Yen 23,694 million, recurring profit Yen
44,033 million, net profit Yen 32,083 million, total assets Yen 2,220,236
million, net worth Yen 492,959 million, employees 16,136, pres Yoji Sato
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
A trading house for import, export and wholesale of the following items
(--100%):
Electronics & Telecommunications Division:
semiconductor mfg equipment, disk/liquid crystal unit mfg equip,
measuring apparatus, other
related equipment & machinery;
General Industrial Machinery Division: grinding
machines, press machinery, laser facilities, heat-treatment
equipment, recycling unit, other
Specific Industrial Machinery Division: machinery
& facilities of industries of auto, food processing, steel mills,
chemical plants, home
electronics, forestry, other
Commercial, Servicing Division: security-related equipment,
landscaping goods, car parking facilities, health &
sports goods, home electronics
appliances, other.
(Sales breakdown for each
division are not made available.)
Clients:
[Mfrs, wholesalers] Nippon Steel & Sumitomo Metal Corp, Toyota Motor,
Teijin Ltd, NEC, Nisshin Steel Co, S Alam Power Generation Ltd, Kobe Steel, JFE
Steel, Sharp Corp, Nissan Motor, other.
No. of accounts: 1,000
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Kawasaki Machine Systems, Wartsila Finland OY, NTN, Ube
Material Ind, Steel Plantech, NTN, Ebara Corp, Sojitz Europe PLC, Murata
Machinery, Shibaura Mechatronics, Toshiba Machinery, Sanyo Electric, Matsushita
Electric Ind, NEC, Nippon Steel Engineering, Sumitomo Precision Products,
other.
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank
References:
MUFG
(Tokyo)
Mizuho
Bank (Uchisaiwaicho)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
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Annual
Sales |
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67,500 |
65,672 |
62,812 |
61,674 |
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Recur.
Profit |
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1,400 |
1,334 |
1,364 |
1,115 |
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Net
Profit |
|
900 |
817 |
806 |
720 |
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Total
Assets |
|
|
23,340 |
26,996 |
21,478 |
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Current
Assets |
|
|
22,802 |
26,514 |
20,923 |
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Current
Liabs |
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19,538 |
23,263 |
17,722 |
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Net
Worth |
|
|
3,763 |
3,698 |
3,697 |
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Capital,
Paid-Up |
|
|
1,500 |
1,500 |
1,500 |
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Div.Ttl
in Million (¥) |
|
|
806 |
720 |
642 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.78 |
4.55 |
1.85 |
-5.51 |
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Current Ratio |
.. |
116.71 |
113.97 |
118.06 |
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N.Worth Ratio |
.. |
16.12 |
13.70 |
17.21 |
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R.Profit/Sales |
2.07 |
2.03 |
2.17 |
1.81 |
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N.Profit/Sales |
1.33 |
1.24 |
1.28 |
1.17 |
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Return On Equity |
.. |
21.71 |
21.80 |
19.48 |
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Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.21 |
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|
1 |
Rs. 99.16 |
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Euro |
1 |
Rs. 80.56 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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.