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Report Date : |
16.05.2014 |
IDENTIFICATION DETAILS
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Name : |
MATSUMOTO &
CO LTD |
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Registered Office : |
4-5-21 Sakurakawa Naniwaku Osaka |
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Country : |
Japan |
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Financials (as on) : |
31.01.2014 (Estimated) |
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Date of Incorporation : |
May 1973 |
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Com. Reg. No.: |
(Osaka-Naniwaku) 039994 |
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Legal Form : |
Limited Company |
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Line of Business : |
Exporter, importer and wholesaler of Welding Machinery/Equipment, Welding Rods, Other Industrial Machinery & Equipment |
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No of Employees : |
10 |
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 |
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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 |
|
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 |
MATSUMOTO & CO LTD
Matsumoto Boeki KK
Honmachi Matsumoto
Bldg, 4-6-22 Honmachi Chuoku Osaka 541-0053 JAPAN
Tel:
06-4705-4777 Fax: 06-4705-4781
*.. Registered at: 4-5-21 Sakurakawa Naniwaku Osaka
URL: N/A
Import,
export of welding machinery, welding rods, other industrial machinery
Nil
China
TSUNENORI
MATSUMOTO, PRES
Tokuji
Matsumoto, dir
Hitoshi
Kawano, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,255 M
PAYMENTSNo Complaints CAPITAL Yen 15 M
TREND SLOW WORTH Yen 508 M
STARTED 1973 EMPLOYES 10
EXPORTER
OF WELDING MACHINERY & RODS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Tsunenori Matsumoto
in order to make most of his experience in the subject line of business. This is a trading firm specializing in export
of welding machinery/equipment, welding rods, and other industrial machinery. Goods are partially imported. Export destinations are: Hong Kong, China,
Philippines, Pakistan, Saudi Arabia, Europe, USA, other.
Financials are only partially disclosed.
The sales volume for Jan/2013 fiscal term amounted to Yen 1,255 million, an 18% down from Yen 1,523 million in the previous term. High Yen hurt exports, reducing earnings in Yen terms. The net profit was posted at Yen 24 million, similarly in the previous period. .
For the term that ended Jan 2014 the net profit was projected at Yen 24 million, on an 8% rise in turnover, to Yen 1,350 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: May 1973
Regd No.: (Osaka-Naniwaku) 039994
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 120,000 shares
Issued: 30,000 shares
Sum: Yen 15
million
Major shareholders (%): Tsunenori Matsumoto (35.5), T
Zushi (10), Tokuji Matsumoto (9), Toshiko Matsumoto
(5), Hitoshi Kawano (4)
No. of shareholders: 14
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports, imports and wholesales welding machinery/equipment (30%), welding rods (20%), other industrial machinery & equipment (--50%).
Clients: [Mfrs, wholesalers] Exports to Philippines, Hong Kong, China, S/E Asia, Saudi Arabia, Arab Emirates, Europe, USA, Thailand, other S/E Asian countries.
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Matsumoto Machinery, Daihen Osaka Japan, Nichia Welding Electrodes, Koike Sanso Kogyo, Okudaya Giken Co, Nikko Kasei Co, New Registon Co, Matsumoto Machinery Tianjiang, other.
Payment record: No Complaints
Location: Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Resona Bank (Sakurakawa)
MUFG (Osaka-Nishi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/01/2014 |
31/01/2013 |
31/01/2012 |
31/01/2011 |
|
Annual
Sales |
|
1,350 |
1,255 |
1,523 |
1,372 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
24 |
24 |
24 |
24 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
508 |
492 |
476 |
|
Capital,
Paid-Up |
|
|
15 |
15 |
15 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
7.57 |
-17.60 |
11.01 |
22.39 |
|
|
Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
|
N.Profit/Sales |
1.78 |
1.91 |
1.58 |
1.75 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/01/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.47 |
|
UK Pound |
1 |
Rs.99.70 |
|
Euro |
1 |
Rs.81.55 |
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.