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Report Date : |
17.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MITSUBISHI MATERIALS TRADING CORPORATION |
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Formerly Known As : |
RYOKO SANGYO CORPORATION |
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Registered Office : |
Nihombashi Hamacho F-Tower 17F, 3-21-1 Nihombashi-Hamacho Tokyo
103-0007 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
May 1947 |
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Com. Reg. No.: |
0100-01-032169 |
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Legal Form : |
Limited Company |
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Line of Business : |
Trading firm for import, export and wholesale of industrial products:
processed (63.9%), materials & commodities (13.7%), building materials
(11.7%), machinery & equipment (6.9%), other |
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No of Employees : |
375 |
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.
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Source
: CIA |
MITSUBISHI
MATERIALS TRADING CORPORATION (CHANGED FROM RYOKO SANGYO CORP)
REGD NAME
Mitsubishi Material Trading KK
MAIN OFFICE
Nihombashi Hamacho F-Tower 17F, 3-21-1 Nihombashi-Hamacho Tokyo 103-0007
Japan
Tel: 03-3660-1682
Fax: 03-3660-1650
URL: http://www.mllc.co.jp
E-Mail address: (thru the URL)
ACTIVITIES: Trading firm for import, export, wholesale
of industrial products
BRANCHES: 27 locations nationwide
OVERSEAS: Thailand, Indonesia, Korea, China,
Singapore, Vietnam, Australia
OFFICERS: TOSHIO HIRATSUKA, PRES Satoshi Terashita v pres
Kotaro Mitsune,
mgn dir Takayoshi
Akiyama, mgn dir
Susumu
Arai, mgn dir Kazuyuki Ito,
dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 93,364 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
393 M
TREND UP WORTH
Yen 5,670 M
STARTED 1947 EMPLOYES 375
COMMENT: TRADING FIRM, OWNED BY MITSUBISHI
MATERIALS CORP. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established by Mitsubishi Materials Corporation
(See REGISTRATION) as a trading
firm, named Ryoko Sangyo Corporation, and in July 2014 renamed as
captioned. This is a trading firm for
import, export and wholesale of industrial products, chemicals, machinery,
metals, other. Clients include
Mitsubishi Group firms as a main.
The sales volume for Mar/2014 fiscal term amounted to Yen 93,364 million,
a 24% up from Yen 75,366 million in the previous term. Exports were robust to Asian countries. The weaker Yen also contributed to raise
earnings in Yen terms. The recurring
profit was posted at Yen 1,559 million and the net profit at Yen 960 million,
respectively, compared with Yen 1,284 million recurring profit and Yen 830
million net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 1,650 million and the net profit at Yen 980 million, respectively, on a
5% rise in turnover, to Yen 98,000 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 1,119.3 million, on 30 days normal terms.
Date Registered: May
1947
Regd No.: 0100-01-032169
(Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 26.6 million shares
Issued:
6.66 million shares
Sum: Yen
393 million
Major shareholders
(%): Mitsubishi Materials Corporation* (100)
*.. Leading nonferrous metal smelter, Tokyo, founded 1950, listed Tokyo
S/E, capital Yen 119,457 million, sales Yen 1,414,796 million, operating profit
Yen 66,281 million, recurring profit Yen 76,902 million, net profit Yen 52,551
million, total assets Yen 1,802,769 million, net worth Yen 452,946 million,
employees 23,661, pres Hiroshi Yao
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Trading firm for
import, export and wholesale of industrial products: processed (63.9%),
materials & commodities (13.7%), building materials (11.7%), machinery
& equipment (6.9%), other
Clients: [Mfrs,
wholesalers] SUMCO, Mitsubishi Materials Corp, Mitsubishi Electric, IHI Corp,
Mitsubishi Heavy Ind, Onahama Smelting & Refining, Owari Precise Products
Co, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Mitsubishi Materials Corp, MMC Super Alloy, Ube Mitsubishi Cement, Mitsubishi
Aluminium, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
MUFG (Shin-Marunouchi)
Joyo Bank (Tokyo)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual Sales |
|
98,000 |
93,364 |
75,366 |
79,280 |
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Recur. Profit |
|
1,650 |
1,559 |
1,284 |
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Net Profit |
|
980 |
960 |
830 |
682 |
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Total Assets |
|
|
38,609 |
31,318 |
31,498 |
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Current Assets |
|
|
36,279 |
29,046 |
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Current Liabs |
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|
32,022 |
25,350 |
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Net Worth |
|
|
5,670 |
5,077 |
5,777 |
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Capital, Paid-Up |
|
|
393 |
393 |
393 |
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Div.Ttl in Million (¥) |
|
|
414.9 |
1,546.4 |
352.3 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.97 |
23.88 |
-4.94 |
3.64 |
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Current Ratio |
|
.. |
113.29 |
114.58 |
.. |
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N.Worth Ratio |
|
.. |
14.69 |
16.21 |
18.34 |
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R.Profit/Sales |
|
1.68 |
1.67 |
1.70 |
.. |
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N.Profit/Sales |
|
1.00 |
1.03 |
1.10 |
0.86 |
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Return On Equity |
|
.. |
16.93 |
16.35 |
11.81 |
Notes: Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.47 |
|
|
1 |
Rs.98.23 |
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Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.