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Report Date : |
05.03.2014 |
IDENTIFICATION DETAILS
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Name : |
MARUSHO CO LTD |
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Registered Office : |
Marusho Bldg 1F, 4-2-22 Uemotocho Tennohjiku Osaka 543-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
May 1951 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of industrial machinery,
construction machinery, mining machinery/equipment, harrows, other |
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No of Employees : |
28 |
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 |
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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) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 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 exceeds 225% 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.
|
Source
: CIA |
MARUSHO
CO LTD
REGD
NAME: KK Marusho
MAIN
OFFICE: Marusho Bldg 1F, 4-2-22
Uemotocho Tennohjiku Osaka 543-0001 JAPAN
Tel: 06-6767-3344 Fax: 06-6767-2772
URL: http://www.m-marusho.com
E-Mail address: (thru the URL)
Import, export, wholesale of
construction machinery, mining machinery
Osaka, Kanagawa, Kagawa, Tochigi
Nil
KEIZO KOSAKA, PRES Kota Kosaka, mgn dir
Osamu Yamazaki, dir Kazuo Tanaka, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,713 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 64 M
TREND UP WORTH Yen 237 M
STARTED 1951 EMPLOYES 28
TRADING
FIRM SPECIALIZING IN INDUSTRIAL MACHINERY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The
subject company was established originally in 1945 by Yoshio Kosaka, on his
account, in Tokyo. And the Osaka Branch
Office was upgraded to an independent corporation. This is a trading firm specializing in
industrial machinery, construction & mining machinery, harrows, other. Clients include road pavers, construction
firms, other.
The
sales volume for Dec/2012 fiscal term amounted to Yen 2,713 million, an 18% up
from Yen 2,303 million in the previous term.
A large demand for plant construction machinery & equipment was
secured. The recurring profit was posted
at Yen 17 million and the net profit at Yen 66 million, respectively, compared
with Yen 86 million recurring profit and Yen 45 million net profit,
respectively, a year ago.
For the
term that ended Dec 2013 the recurring profit was projected at Yen 25 million
and the net profit at Yen 75 million, respectively, on a 5% rise in turnover,
to Yen 2,850 million. Final results are
yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date
Registered: May 1951
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 512,000 shares
Issued:
128,000 shares
Sum: Yen
64 million
Major shareholders
(%): Keizo Kosaka
28), Marusho Corp (20), Chieko Shiomoto (11)
No. of
shareholders: 23
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Trading firm for import, export and wholesale of industrial machinery,
construction machinery, mining machinery/equipment, harrows, other (--100%)
Clients:
[Mfrs, wholesalers] Maeda Road, Nippo, Kato Mining, Nishikawa Trading,
other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Kurimoto Iron Works (9.7%), Sweden Steel (4.3%), other
Payment
record: No Complaints
Location:
Business area in Osaka. Office premises
at the caption address are owned and maintained satisfactorily.
Bank
References:
Kansai Urban Bank (Sakaisuji-Honmachi)
Osaka City Shinkin Bank (Ikuno)
Relations: Satisfactory
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual
Sales |
|
2,850 |
2,713 |
2,303 |
2,311 |
|
Recur.
Profit |
|
25 |
17 |
86 |
|
|
Net
Profit |
|
75 |
66 |
45 |
10 |
|
Total
Assets |
|
|
1,776 |
1,597 |
1,480 |
|
Current
Assets |
|
|
1,443 |
1,262 |
|
|
Current
Liabs |
|
|
811 |
759 |
|
|
Net
Worth |
|
|
237 |
175 |
135 |
|
Capital,
Paid-Up |
|
|
64 |
64 |
64 |
|
Div.Ttl
in Million (¥) |
|
|
5 |
5 |
4.3 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.05 |
17.80 |
-0.35 |
10.63 |
|
|
Current Ratio |
|
.. |
177.93 |
166.27 |
.. |
|
N.Worth Ratio |
.. |
13.34 |
10.96 |
9.12 |
|
|
R.Profit/Sales |
|
0.88 |
0.63 |
3.73 |
.. |
|
N.Profit/Sales |
2.63 |
2.43 |
1.95 |
0.43 |
|
|
Return On Equity |
.. |
27.85 |
25.71 |
7.41 |
|
Notes: Forecast (or estimated)
figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.90 |
|
|
1 |
Rs. 103.25 |
|
Euro |
1 |
Rs. 85.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.