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Report Date : |
17.11.2014 |
IDENTIFICATION DETAILS
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Name : |
MARUBENI TEKMATEX CORPORATION |
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Registered Office : |
Nishikicho Trad Bldg 4F, 3-20 Kanda-Nishikicho Chiyodaku Tokyo |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
October 1973 |
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Com. Reg. No.: |
0100-01-057341 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of
textile machinery |
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No. of Employees : |
70 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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. 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 TEKMATEX CORPORATION
REGD NAME: Marubeni
Tekmatex KK
MAIN OFFICE: Nishikicho
Trad Bldg 4F, 3-20 Kanda-Nishikicho Chiyodaku Tokyo 101-0054
JAPAN
Tel:
03-3293-3501 Fax: 03-3293-3508
URL: http//:www.tekmatex.jp
E-mail: info@tekmatex.jp
Import,
export, wholesale of textile machinery
Nil
SHINYA
WATANOB, PRES Katsuhiro Suzuki, mgn
dir
Ichiro
Enomoto, dir Kazuhiko
Hayashi, dir
Isao
Nakagawa, dir Hiroshi
Tanaka, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 62,920 M*
PAYMENTSno
compliant CAPITAL Yen 480 M
TREND STEADY WORTH Yen 3,866 M
STARTED 1973 EMPLOYES 70
*..
Not precisely disclosed and estimated only
TRADING
FIRM SPECIALIZING IN TEXTILE MACHINERY, OWNED BY MARUBENI CORATION.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established on the basis of a
textile division separated from Marubeni Corp, leading general trading house,
Tokyo (See REGISTRATION). This is a trading firm specializing in
textile machinery, and other industrial machinery. In 1976, succeeded the domestic sales &
importing businesses of the Textile Machinery Dept of Marubeni Corp. In 1989, succeeded a part of importing
business of the Dept, and advances simultaneously into the industrial machinery
field. In 1997, merged a sister company,
Marubeni Tekmatex International Ltd, and renamed as captioned. In 2000, merged a sister company, Tekma
Engineering Co Ltd, to create a newly organized Marubeni Tekmatex Corp. Goods are actively exported to China and S/E
Asian countries through the overseas branch office of the parent and its
clients
Financials are consolidated by the parent, Marubeni Corp,
and disclosed in digested form. Sales
figures for the Mar/2014 fiscal term are not precisely disclosed and only
estimated.
The sales volume for Mar/2014 fiscal term is reported
amounted to Yen 62,920 million, a 10% up from Yen 57,200 million in the
previous term. The weaker Yen may have
raised export earnings in Yen terms. The
net profit was posted at Yen 1,402 million, compared with Yen 488 million a
year ago. .
For the current term ending Mar 2015 the net profit is
projected at Yen 1,450 million, on a 6% rise in turnover, to Yen 66,500
million. Exports to China and other S/E
Asian countries continue increasing.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Oct 1973
Regd No.: 0100-01-057341
(Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 3.84 million shares
Issued: 960,000 shares
Sum: Yen
480 million
Major shareholders (%): Marubeni Corp* (100)
*.. One of big 5 general trading
houses, Tokyo, founded 1949, listed Tokyo S/E, capital Yen 262,686 million,
turnover Yen 13,633,520 million, operating profit Yen 157,462 million,
recurring profit Yen 236,373 million, net profit Yen 210,945 million, total
assets Yen 7,255,380 million, net worth Yen 1,385,313 million, employees
39,465, pres Fumiya Kokubu
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales
textile machinery: spinning equipment, weaving equipment, printing/dyeing
equipment, knitting equipment, other industrial machinery (--100%).
Clients: [Mfrs, wholesalers] Tekmatex Inc
(USA), Tekmatex Europe, Marubeni Corp, Toray Ind, Mitsubishi Rayon Engineering,
Nitto Boseki Co, Unitika Ltd, Toyobo Co, Kondo Cotton Spinning Co, Nisshinbo
Textile Inc, other
No. of
accounts: 800
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Tsudakoma Corp,
Murata Machinery, Toyota Industries Corp, Shimadz Corp, Hitachi Ltd, Toray Ind,
Inoue Steel Works, Arioli, Liba, other.
Payment record: No
complaints
Location:
Business area in Tokyo. Office premises at
the caption address are owned by the parent, Marubeni Corp, and maintained
satisfactorily.
Bank References:
Mizuho Bank (Iidabashi)
SMBC (Asakusabashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual
Sales |
|
66,500 |
62,920 |
57,200 |
56,000 |
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Recur.
Profit |
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|
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|
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Net
Profit |
|
1,450 |
1,402 |
488 |
572 |
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Total
Assets |
|
|
17,438 |
11,088 |
19,267 |
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Current
Assets |
|
|
16,800 |
12,770 |
19,100 |
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Current
Liabs |
|
|
13,393 |
10,399 |
17,000 |
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Net
Worth |
|
|
3,866 |
2,445 |
2,180 |
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Capital,
Paid-Up |
|
|
480 |
480 |
480 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.69 |
10.00 |
2.14 |
9.27 |
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Current Ratio |
|
.. |
125.44 |
122.80 |
112.35 |
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N.Worth Ratio |
|
.. |
22.17 |
22.05 |
11.31 |
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R.Profit/Sales |
|
.. |
.. |
.. |
.. |
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N.Profit/Sales |
|
2.18 |
2.23 |
0.85 |
1.02 |
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Return On Equity |
|
.. |
36.26 |
19.96 |
26.24 |
Notes:
Sales figures for the 31/03/2014 fiscal term are not precisely disclosed and
only estimated.
Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.68 |
|
|
1 |
Rs.96.94 |
|
Euro |
1 |
Rs.77.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
SDA |
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 |
-- |
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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.