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Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
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Name : |
MARUBENI PLAX CORPORATION |
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Registered Office : |
Koraku Mori Bldg 9F, 1-4-14 Koraku Bunkyoku Tokyo 112-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 (estimated) |
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Date of Incorporation : |
December, 1975 |
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Com. Reg. No.: |
0100-01-057352 (Tokyo-Bunkyoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Importer, Exporter & Wholesaler of Synthetic Resins &
Materials, Functional Chemicals & Products as well as Packaging Materials
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No. of Employees : |
150 |
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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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 |
MARUBENI PLAX
CORPORATION
REGD NAME: Marubeni Plax KK
MAIN OFFICE: Koraku Mori Bldg 9F, 1-4-14 Koraku
Bunkyoku Tokyo 112-0004 JAPAN
Tel: 03-6891-7700
Fax: 03-6891-7640
E-Mail address: plax.L16@plax.marubeni.co.jp
Importer, Exporter & Wholesaler of Synthetic Resins & Materials,
Functional Chemicals & Products as well as Packaging Materials
Osaka, Nagoya, Fukuoka
China (2), Hong Kong, Thailand, and Singapore (--subsidiaries)
HIROTSUGU UCHIDA, PRES Hisanobu
Ichikawa, mgn dir
Hiroshi Yamazaki dir Akira
Terakawa, dir
Tadashi Hiroe, dir Jun
Horie, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 96,423 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
1,000 M
TREND SLOW WORTH Yen 3,891 M
STARTED 1975 EMPLOYES 150
TRADING HOUSE SPECIALIZING IN PLASTICS & PACKAGING MATERIALS, WHOLLY
OWNED BY MARUBENI CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
The subject company was established on the basis of plastics division
separated from Marubeni Corp, major general trading house, Tokyo (See REGISTRATION). In 1997, merged three sister companies in
order to streamline group operations (three sister companies: Marubeni Plax,
Marubeni Planet & Marubeni Toplas) to form new Marubeni Plax Corporation. This is a specialized trading firm of
plastics, packaging materials, electronics materials and construction
materials. In Apr 2001, the whole of
plastic business operations were transferred to the firm from the parent,
Marubeni Corp. In Aug 2003, set up
Marubeni Plax China in order to actively advance into China market. The China subsidiary was reorganized in Feb
2007 and consolidated into Marubeni Chemicals (Shanghai) and Marubeni Chemicals
& Plastics (Hong Kong). In 2009
transferred housing/construction materials business to Takashima & Co
Ltd.
The sales volume for Mar/2013 fiscal term amounted to Yen 96,423
million, a 3% down from Yen 99,604 million in the previous term. The recurring profit was posted at Yen 591 million
and the net profit at Yen 372 million, respectively, compared with Yen 839
million recurring profit and Yen 446 million net profit, respectively, a year
ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 650 million and the net profit at Yen 400 million, respectively, on a 5%
rise in turnover, to Yen 101,000 million.
Final results are yet to be released.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: Dec 1975
Regd No.: 0100-01-057352 (Tokyo-Bunkyoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 8
million shares
Issued:
2 million shares
Sum: Yen 1,000 million
Major shareholders
(%): Marubeni Corporation*(100)
*.. One of big 5 general trading houses, founded 1949, listed Tokyo S/E,
capital Yen 262,686 million, turnover Yen 10,509,088 million, operating profit
Yen 122,932 million, recurring profit Yen 247,543 million, net profit Yen
205,696 million, total assets Yen 7,193,334 million, net worth Yen 1,401,144
million, employees 39,126, pres Fumiya Kokubu.
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales synthetic resins & materials (66%), functional chemicals
& products (9%), packaging materials (25%)
Overseas Sales
Ratio (23%)
Clients: [Mfrs,
wholesalers] Marubeni Corp, Daiei Inc, Calsonic Kansei Corp, FP Corp, Tsuchiya Co, Yazaki Industrial
Chemical, Fukusuke Kogyo, Daiwabo Polytec, Daiei Tsuchiya, Kimoto Co,
other.
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Marubeni Corp, Mitsui Chemical, DIC Corp, Toyobo Co,
Asahi Kasei Corp, DuPont KK, Prime Polymer,
Japan Polypropylene Corp, Mitsubishi
Plastics, Toyobo Corp,
Japan Polyethylene, other.
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Mizuho Bank (Semba)
MUFG (Ohdenmacho)
Relations: Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
101,000 |
96,423 |
99,604 |
107,558 |
|
Recur. Profit |
|
650 |
591 |
839 |
1,042 |
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Net Profit |
|
400 |
372 |
446 |
596 |
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Total Assets |
|
|
23,577 |
25,034 |
26,202 |
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Current Assets |
|
|
22,832 |
24,145 |
24,563 |
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Current Liabs |
|
|
19,639 |
21,253 |
22,157 |
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Net Worth |
|
|
3,891 |
3,750 |
3,595 |
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Capital, Paid-Up |
|
|
1,000 |
1,000 |
1,000 |
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Div.P.Share(¥) |
|
|
186.00 |
223.00 |
150.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
4.75 |
-3.19 |
-7.40 |
10.12 |
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Current Ratio |
|
.. |
116.26 |
113.61 |
110.86 |
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N.Worth Ratio |
.. |
16.50 |
14.98 |
13.72 |
|
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R.Profit/Sales |
|
0.64 |
0.61 |
0.84 |
0.97 |
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N.Profit/Sales |
0.40 |
0.39 |
0.45 |
0.55 |
|
|
Return On Equity |
.. |
9.56 |
11.89 |
16.58 |
|
Note: Forecast (or estimated) figures for the 31/03/2014 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.84 |
|
|
1 |
Rs.98.41 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
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Report Prepared
by : |
MNL |
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.