MIRA INFORM REPORT

Report Date :

26.09.2014

IDENTIFICATION DETAILS

Name :	MARUBENI TEKMATEX CORPORATION
Registered Office :	Marubeni Tokyo Honsha Bldg 3F, 1-4-2 Ohtemachi Chiyodaku Tokyo 100-0004
Country :	Japan
Financials (as on) :	31.03.2014
Date of Incorporation :	October 1973
Com. Reg. No.:	0100-01-057341 (Tokyo-Chiyodaku)
Legal Form :	Limited Company (Kabushiki Kaisha)
Line of Business :	Importer, Exporter and Wholesaler of Textile Machinery
No of Employees :	70

NOTES :

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ECGC Country Risk Classification List – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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. Newly-elected Prime Minister Shinzo ABE has declared the economy his government's top priority; he has pledged to reconsider his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus and regulatory reform and has said he will press the Bank of Japan to loosen monetary policy. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2012 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 exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.

Source : CIA

COMPANY NAME & ADDRESS

MARUBENI TEKMATEX CORPORATION

REGD NAME: Marubeni Tekmatex KK

MAIN OFFICE: Marubeni Tokyo Honsha Bldg 3F, 1-4-2 Ohtemachi Chiyodaku Tokyo 100-0004

JAPAN

Tel: 03-6212-5123 Fax: 03-6212-5135

URL: http//:www.tekmatex.jp

E-mail: info@tekmatex.jp

ACTIVITIES

Import, export, wholesale of textile machinery

BRANCHES

Nil

OFFICER(S)

SHINYA WATANOB, PRES Katsuhiro Suzuki, mgn dir

Ichiro Enomoto, dir Isao Nakagawa, dir

Hiroshi Tanaka, dir Shinichi Okumura, dir

Yen Amount

In million Yen, unless otherwise stated

SUMMARY

FINANCES FAIR A/SALES Yen 57200 M

PAYMENTS NO COMPLAINTS CAPITAL Yen 480 M

TREND STEADY WORTH Yen 2,445 M

STARTED 1973 EMPLOYES 70

COMMENT

TRADING FIRM SPECIALIZING IN TEXTILE MACHINERY, OWNED BY MARUBENI CORATION.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

HIGHLIGHTS

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

FINANCIAL INFORMATION

Financials are consolidated by the parent, Marubeni Corp, and only partially disclosed.

The sales volume for Mar/2013 fiscal term is reported amounted to Yen 57,200 million, a 2% up from Yen 51,250 million in the previous term. The net profit was posted at Yen 488 million, compared with Yen 572 million a year ago. Some extraordinary losses are included in this term’s profits, but no details. .

For the current term ending Mar 2014 the net profit is projected at Yen 580 million, on a 3% rise in turnover, to Yen 58,900 million. Exports to China and other S/E Asian countries continue increasing.

The financial situation is considered FAIR and good for ORDINARY business engagements.

REGISTRATION

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, Nagoya S/E’s, 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 6,648,019 million, net worth Yen 1,280,425 million, employees 38,662, pres Fumiya Kokubu

Nothing detrimental is known as to the commercial morality of executives.

OPERATION

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

FINANCES (In Million Yen)

Terms Ending:		31/03/2014	31/03/2013	31/03/2012
Annual Sales		58,900	57,200	56,000
Recur. Profit		..	..	..
Net Profit		580	488	572
Total Assets			13,008	19,267
Net Worth			2,445	2,180
Capital, Paid-Up			480	480
Div.P.Share(¥)			0.00	0.00
<Analytical Data>		(%)	(%)	(%)
S.Growth Rate		2.97	2.14	9.27
Current Ratio			..	..
N.Worth Ratio			18.80	11.31
N.Profit/Sales		0.98	0.85	1.02

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/03/2014 fiscal term.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.02
UK Pound	1	Rs.99.43
Euro	1	Rs.77.84

INFORMATION DETAILS

Report Prepared by :

TPT

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