|
Report Date : |
22.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUN MARIX CO LTD |
|
|
|
|
Registered Office : |
2-4-1 Terauchi Toyonaka Osaka-Pref
561-0872 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
November 1984 |
|
|
|
|
Com. Reg. No.: |
1209-01-02999 (Osaka-Toyonaka) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Exports steels and steel products |
|
|
|
|
No of Employees : |
4 |
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 |
|
Payment Behaviour : |
Slow but correct |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
SUN
MARIX CO LTD
KK Sun Marix
2-4-1 Terauchi
Toyonaka Osaka-Pref 561-0872 JAPAN
Tel:
06-6867-6600
Fax: 06-867-6601
N/A
Export of steels,
steel products
Nil
MITSUHIRO IWAMOTO,
PRES
Reiko Iwamoto, rep dir
Yasuhiro Sobajima,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,800 M
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 61 M
TREND UP WORTH Yen 191 M
STARTED 1984 EMPLOYES 4
EXPORTER SPECIALIZING IN STEEL PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Mitsuhiro Iwamoto in order to make most of his experience in foreign trading. He owns 81.3% of the company’s share. This is a trading company, owned by the Iwamoto family, specializing in exporting steels and steel products. Main destination is China, where demand for steel products is boosting from construction industries.
The sales volume
for Sept/2013 fiscal term amounted to Yen 2,800 million, a 17% rise from Yen 2,400
million in the previous term. Exports
continued robust into China and other S/E Asian countries. The net profit was posted at Yen 8 million,
compared with Yen 5 million a year ago.
For the term that
ended Sept 2014 the net profit was projected at Yen 10 million, on a 5% rise in
turnover, to Yen 2,950 million.
Weakening Yen may have helped increase revenues in Yen terms. Final results are yet to be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Nov 1984
Regd No.:
1209-01-02999
(Osaka-Toyonaka)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4,800
shares
Issued:
1,232 shares
Sum: Yen
61.6 million
Major shareholders (%): Mitsuhiro Iwamoto (81.3), Reiko Iwamoto (16.2), Yasuhiro Sobajima (2.5)
No.
of shareholders: 3
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Exports
steels and steel products (--100%)
Clients: [Mfrs,
wholesalers] Exports to China, etc (80%).
No. of accounts: Unavailable
Domestic areas of activities:
Centered in greater-Osaka
Suppliers: Steel
mfrs, wholesalers, general trading houses, other
Payment record: Slow
but correct
Location: Business area in Toyonaka
City, Osaka-Pref. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Osaka-Nishi)
Mizuho Bank (Namba)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
|
Annual
Sales |
|
2,950 |
2,800 |
2,400 |
2,700 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
10 |
8 |
5 |
7 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
191 |
183 |
178 |
|
Capital,
Paid-Up |
|
|
51 |
51 |
51 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.36 |
16.67 |
-11.11 |
-3.57 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
0.34 |
0.29 |
0.21 |
0.26 |
Note: Financials
are only partially disclosed.
Forecast (or
estimated) for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.30 |
|
|
1 |
Rs.99.16 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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.