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Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
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Name : |
MITSUI & CO PLANT SYSTEMS LTD |
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Registered Office : |
Shiodome Sumitomo Bldg 25F, 1-9-2 Higashi-Nihombashi Minatoku Tokyo 105-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 2007 |
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Com. Reg. No.: |
057580 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of plant units, power systems, transportation systems |
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No of Employees : |
358 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
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Source
: CIA |
MITSUI
& CO PLANT SYSTEMS LTD
Mitsui Bussan Plant System KK
Shiodome Sumitomo Bldg 25F, 1-9-2
Higashi-Nihombashi Minatoku Tokyo 105-0021 JAPAN
Tel: 03-6218-3000 Fax: 03-6218-3450
URL: Error!
Hyperlink reference not valid.
E-mail: info@plantsystems.mitsui.co.jp
Import, export, wholesale of
plant units, power systems, transportation systems
Sapporo, Sendai, Nagoya, Osaka,
other (tot 16)
Jakarta (Indonesia)
JUN OKUNO, PRES Masato Shioide, v pres
Fumitaka Ito, s/mgn dir Hironori Togo, s/mgn dir
Hidenori Azabu, s/mgn dir Nobuhiko
Kaneko, mgn dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 185,871 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 1,555 M
TREND SLOW WORTH Yen 6,336 M
STARTED 1995 EMPLOYES 358
TRADING HOUSE SPECIALIZING IN
PLANT, POWER & TRANSPORTATION UNITS, WHOLLY OWNED BY
MITSUI & CO.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established in Apr/2007 by the merger of four Mitsui group
firms: Mitsui & Co Project Corp, Mitsui Bussan Plant & Project, Mitsui
& Co Power Systems, Mitsui Bussan Transportation Systems. The merger was intended to integrate group
operations to avoid redundant operations.
This is a trading house specializing in energy plants, power systems and
transportation units. In 2007, transferred
from the parent, Mitsui & Co Ltd, major portion of power system units
operations. The firm concluded export
contract with Hydrochem (S) Pte Ltd, a wholly-owned subsidiary of Hyflux Ltd,
in Singapore, on June 13, 2012, for the supply of key components to be used for
Singapore’s largest membrane-based seawater desalination plant, Tuaspring
Desalination Plant, located in Tuas, the western region of Singapore. Has an office in Jakarta Indonesia. Domestic clients include major electric
powers, railway companies, chemical mfrs, other, nationwide.
The
sales volume for Mar/2013 fiscal term amounted to Yen 185,871 million, a 4%
down from Yen 193,183 million in the previous term. The exports were hurt by the high Yen,
reducing earnings in Yen terms. The
recurring profit was posted at Yen 3,212 million and the net profit at Yen
2,012 million, respectively, compared with Yen 3,706 million recurring profit,
and Yen 2,095 million net profit, respectively, a year ago.
For
the term that ended Mar 2014 the recurring profit was projected at Yen 3,500
and the net profit at Yen 2,100 million, respectively, on a 5% rise in
turnover, to Yen 195,000 million. Final
results are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Apr 2007
Regd No.:
(Tokyo-Minatoku)
057580
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 124,400
shares
Issued:
31,100 shares
Sum: Yen
1,555 million
Major shareholders (%): Mitsui
& Co*(100)
*.. Leading general trading company vying with Mitsubishi
Corp for top position, founded 1947, capital Yen 341,482 million, listed Tokyo
S/E, sales Yen 11,165,660 million, operating profit Yen 275,216 million,
recurring profit Yen 453,737 million, net profit Yen 422,161 million, total
assets Yen 11,001,264 million, net worth Yen 3,868,066 million, employees
45,148, pres Masami Iijima
Nothing detrimental is known as
to the commercial morality of executives.
Activities: General trading house for import,
export and wholesale of (--100%):
Plant Units: energy & petrochemical plants,
heavy machinery for ferrous & nonferrous industries, industrial systems,
machinery for infrastructure fields;
Power System Units: power generation, transmission
& substations, energy solution, captive power generation, cogeneration,
renewable energy;
Transportation System Units:
railway facility, urban transportation system, other.
Clients:
[Mfrs, steel makers, chemical mfrs] Tosoh Ltd, JR East, Tokyo Electric Power,
Mitsui & Co, JFE Steel, Seven-Eleven Japan, Hyundai, Hokkaido Electric
Power, Tohoku Electric Power, Seven Eleven Japan, Soma Kyodo Power Co, Japan
Atomic Power Co, other..
No. of accounts: 1,000
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] IHI Corp, GE,
Tosoh Ltd, Toray Corp, Mitsui & Co, Plasser, Toshiba Corp, Ebara
Corp, Hitachi Ltd, Mitsubishi
Heavy Industries Compressor, other.
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank
References:
SMBC
(Hibiya)
Mizuho
Bank (Ohtemachi)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
195,000 |
185,871 |
193,183 |
165,893 |
|
Recur.
Profit |
|
3,500 |
3,212 |
3,706 |
2,043 |
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Net
Profit |
|
2,100 |
2,012 |
2,095 |
1,049 |
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Total
Assets |
|
|
131,035 |
115,917 |
81,548 |
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Current
Assets |
|
|
107,763 |
100,579 |
68,900 |
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Current
Liabs |
|
|
102,667 |
95,892 |
65,635 |
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Net
Worth |
|
|
6,336 |
5,236 |
4,007 |
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Capital,
Paid-Up |
|
|
1,555 |
1,555 |
1,555 |
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Div.P.Share(¥) |
|
|
2,095.00 |
2,095.00 |
1,049.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.91 |
-3.79 |
16.45 |
-4.95 |
|
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Current Ratio |
|
.. |
104.96 |
104.89 |
104.97 |
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N.Worth Ratio |
.. |
4.84 |
4.52 |
4.91 |
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R.Profit/Sales |
|
1.79 |
1.73 |
1.92 |
1.23 |
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N.Profit/Sales |
1.08 |
1.08 |
1.08 |
0.63 |
|
|
Return On Equity |
.. |
31.76 |
40.01 |
26.18 |
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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. 59.07 |
|
|
1 |
Rs. 99.20 |
|
Euro |
1 |
Rs. 80.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
SMT |
|
|
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
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.