MIRA INFORM REPORT
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Report No. : |
319205 |
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Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
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Name : |
MATSUBO CORPORATION |
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Registered Office : |
Toranomon 33 Mori Bldg 4F, 3-6-21 Toranomon Minatoku Tokyo 105-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
September 2007 |
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Com. Reg. No.: |
0104-01-075221 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Imports, exports and wholesales industrial machinery: information
precision machinery, powder processing machinery, paper/foods/steel,
processing machinery |
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No. of Employee : |
132 |
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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Maximum Credit Limit : |
Yen 289.7 Million |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. Since the
complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami
disaster in 2011, Japan's industrial sector has become 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 four
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. A sales tax increase caused
the economy to contract during the 2nd and 3rd quarters of 2014. The economy
has largely recovered in the three years since the disaster, but reconstruction
in the Tohoku region has been uneven due to labor shortages. 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 2014 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 government will continue a longstanding
debate on restructuring the economy and reining in Japan's huge government
debt, which amounts to more than 240% 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 2015, although the government in 2014
decided to postpone the final phase of the increase until 2017 to give the
economy time to recover from the 2014 increase. 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 |
Company
name and address
MATSUBO
CORPORATION
REGD NAME: KK Matsubo
MAIN OFFICE: Toranomon 33 Mori Bldg 4F, 3-6-21 Toranomon
Minatoku Tokyo 105-0001 JAPAN
Tel:
03-5472-1711 Fax: 03-5472-1710
*.. The
given postal code No. is its Osaka Office
E-Mail address: (thru the URL)
ACTIVITIES
Import, export, wholesale of industrial machinery
BRANCHES
Osaka (as given), Nagoya, Fukuoka, Kanagawa (Tot 4)
OVERSEAS
Germany
OFFICERS
TOSHIYUKI MATSUI, PRES Makoto
Kitagawa, mgn dir
Shinji Umeda, dir Akira
Otsuka, dir
Hiroshi Sasagawa, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 9,640 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 465 M
TREND SLOW WORTH Yen
3,028 M
STARTED 2007 EMPLOYES 132
COMMENT
TRADING FIRM SPECIALIZING IN INDUSTRIAL MACHINERY, OWNED BY
SHINSHO CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 289.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1949 as a trading
division of Matsuzakaya Dept Store, and in 1994 established Matsubo
Corporation. In 2007, spun off from
Ebara Group in MBO. In Jan 2011, became
a 100% subsidiary of Shinsho Corporation (See REGISTRATION). This is a
trading firm for import, export and wholesale of industrial machinery, other
(See OPERATION). Goods are imported from USA, Canada, Europe,
Thailand, Singapore, Korea, other.
Clients include machinery makers, wholesalers, other.
FINANCIAL INFORMATION
The sales volume for Mar/2014 fiscal term amounted to Yen 9,640 million,
a 17% down from Yen 11,567 million in the previous term. Part of operations was transferred to a Group
firm. The recurring profit was posted at
Yen 41 million but the net losses of Yen 180 million, respectively, compared
with Yen 42 million recurring profit and Yen 69 million net profit,
respectively, a year ago.
For the term that ended Mar 2015 the recurring profit was projected at
Yen 110 million and the net profit at Yen 65 million, respectively, on a 5%
rise in turnover, to Yen 10,120 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit is estimated at Yen 289.7 million, on 30
days normal terms.
REGISTRATION
Date Registered: Sept
2007
Regd No.: 0104-01-075221
(Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 3.6 million shares
Issued:
900,000 shares
Sum: Yen
465 million
Major shareholders
(%): Shinsho Corporation* (100)
*.. Shinsho Corporation, steel maker & trader affiliated with Kobe
Steel, founded 1946, listed Tokyo S/E, capital Yen 5,650 million, sales Yen
840,945 million, operating profit Yen 5,736 million, recurring profit Yen 5,318
million, net profit Yen 3,160 million, total assets Yen 268,507 million, net
worth Yen 39,656 million, employees 1,344, pres Ikuhiro Yamaguchi
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Imports, exports
and wholesales industrial machinery: information precision machinery (17%),
powder processing machinery (58%), paper/foods/steel, etc processing machinery
(25%)
Overseas Trading
Ratio (47%)
Clients: [Mfrs,
wholesalers] Toho Titanium, Chiyoda Corp, Hokuetsu Kami Seisen, Tsukishima
Machinery, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] ALD Vacuum Tech, Freund Corp, Clean Mechanical Co, Kurosaki Harima
Cera Corp, other.
Imports from USA, Canada, Europe, Asian countries, 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 (Uchisaiwaicho)
SMBC (H/O)
Relations: Satisfactory
FINANCES
(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 |
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10,120 |
9,640 |
11,567 |
11,126 |
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Recur. Profit |
|
110 |
41 |
112 |
171 |
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Net Profit |
|
65 |
-180 |
69 |
92 |
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Total Assets |
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6,918 |
7,091 |
7,647 |
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Current Assets |
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6,142 |
6,122 |
6,228 |
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Current Liabs |
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3,410 |
3,449 |
4,107 |
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Net Worth |
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3,028 |
3,191 |
3,107 |
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Capital, Paid-Up |
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465 |
465 |
465 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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4.98 |
-16.66 |
3.96 |
-20.43 |
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Current Ratio |
|
.. |
180.12 |
177.50 |
151.64 |
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N.Worth Ratio |
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.. |
43.77 |
45.00 |
40.63 |
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R.Profit/Sales |
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1.09 |
0.43 |
0.97 |
1.54 |
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N.Profit/Sales |
|
0.64 |
-1.87 |
0.60 |
0.83 |
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Return On Equity |
|
.. |
-5.94 |
2.16 |
2.96 |
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 |
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US Dollar |
1 |
Rs.63.61 |
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|
1 |
Rs.96.59 |
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Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
ANK |
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.