|
Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MARUKAI CORPORATION |
|
|
|
|
Registered Office : |
1-18-5
Kyomachibori Nishiku Osaka 550-0003 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.06.2014 (estimated) |
|
|
|
|
Date of Incorporation : |
August
1949 |
|
|
|
|
Com. Reg. No.: |
1200-01-047598
(Osaka-Nishiku) |
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|
|
|
Legal Form : |
Limited Company |
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|
|
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Line of Business : |
importer, exporter and wholesaler of Zippo Lighters, Furniture, Home Furnishing, Liquors, Wines, Vegetables, Seafoods, Japanese Foods & Health Foods |
|
|
|
|
No of Employees : |
49 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
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 |
|
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 |
MARUKAI CORPORATION
Marukai
Corporation KK
1-18-5
Kyomachibori Nishiku Osaka 550-0003 JAPAN
Tel:
06-6443-0073
Fax: 06-6443-2182
URL: http://www.marukai.co.jp/
E-mail: (thru the URL)
importer, exporter
and wholesaler of Zippo Lighters,
Furniture, Home Furnishing, Liquors, Wines, Vegetables, Seafoods, Japanese Foods & Health Foods
Tokyo
Marukai
(Hawaii) Inc. Marukai Corp USA
JUNZO
MATSU, PRES
Kenji Matsu,
s/mgn dir
Hiroki
Matsu, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 5,865 M
PAYMENTS No
Complaints CAPITAL Yen 95 M
TREND UP WORTH Yen 1,659 M
STARTED 1949 EMPLOYES 49
TRADING FIRM SPECIALIZING IN FOODS, VEGETABLES, SEAFOODS, LIGHTERS, WINE & LIQUOR, FURNITURE, OTHER
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Tadakatsu Matsu in order to make most of his experience in the subject line of business. Present executives are the founder’s descendants. This is a trading firm, wholly owned and operated by Matsu family, for import, export and wholesale of foods, cigarette lighters, seafoods, furniture, cosmetics, wines. Import agent for: Zippo Lighter, RW Knudsen Organic Products (--USA). Clients include major mfrs, wholesalers, food makers, other.
The sales volume for Jun/2013 fiscal term amounted to Yen 5,865 million, an 18% up from Yen 4,967 million in the previous term. Zippo lighters continued in much demand and sold well, due to its safety. Imports of wines also increased. The recurring profit was posted at Yen 418 million and the net profit at Yen302 million, respectively, compared with Yen 271 million recurring profit and Yen 252 million net profit, respectively, a year ago
For the current term ending Jun 2014 the recurring profit is projected at Yen 430 million and the net profit at Yen 310 million, respectively, on a 5% rise in turnover, to Yen 6,150 million. Business is steadily expanding.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Aug 1949
Regd No.: 1200-01-047598 (Osaka-Nishiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 760,000 shares
Issued: 190,000 shares
Sum: Yen
950 million
Major shareholders (%): Kenji Matsu (81), Hiroki Matsu
(6.4), Junzo Matsu (4.7), Makoto Matsu (3.1)
No. of shareholders: 13
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for import, export and wholesale of foods, seafoods, lighters, furniture, home furnishings, other (--100%)
(Handling Items): Fresh foods (meat), seafoods (tuna, salmon), vegetables (mushroom), Asian foods, health products (cosmetics, health foods, hair care products, soaps & bath items, lighters (as import agent for Zippo Lighter, USA), beddings & furniture (ceramic pillows, tatami mats, bath tubs), home furnishings (bath mats, garlic peeler, sticker cleaner), other
Clients: [Mfrs, wholesalers] Yasuda Co, Takamura Wine House, Motobayashi Kagu Co, Itochu Foods, Marukai USA, Mitsubishi Foods, Kokubu Ltd, Fukashiro Corp, other
No. of accounts: 300
Domestic areas of activities: Centered in greater-Osaka
Suppliers [Mfrs, wholesalers] Zippo Lighter (USA), RW Knudsen Organic products
(USA), Nakahira Farmland, other.
Imports from USA, France, Hong Kong, other
Payment record: No Complaints
Location: Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Dojima)
Mizuho Bank (Yotsubashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2014 |
30/06/2013 |
30/06/2012 |
30/06/2011 |
|
|
Annual
Sales |
|
6,150 |
5,865 |
4,967 |
4,314 |
|
Recur.
Profit |
|
430 |
418 |
271 |
175 |
|
Net
Profit |
|
310 |
302 |
252 |
105 |
|
Total
Assets |
|
|
4,256 |
3,919 |
3,344 |
|
Current
Assets |
|
|
2,615 |
2,368 |
1,959 |
|
Current
Liabs |
|
|
1,645 |
1,322 |
1,206 |
|
Net
Worth |
|
|
1,659 |
1,371 |
1,129 |
|
Capital,
Paid-Up |
|
|
95 |
95 |
95 |
|
Div.Ttl
in Million (¥) |
|
|
13.7 |
11 |
1.1 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.86 |
18.08 |
15.14 |
11.62 |
|
|
Current Ratio |
.. |
158.97 |
179.12 |
162.44 |
|
|
N.Worth Ratio |
.. |
38.98 |
34.98 |
33.76 |
|
|
R.Profit/Sales |
6.99 |
7.13 |
5.46 |
4.06 |
|
|
N.Profit/Sales |
5.04 |
5.15 |
5.07 |
2.43 |
|
|
Return On Equity |
.. |
18.20 |
18.38 |
9.30 |
|
Notes:
Forecast (or estimated) figures for the 30/06/2014 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.06 |
|
UK Pound |
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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 |
|
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 |
|
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 |
|
<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.