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Report No. : |
335346 |
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Report Date : |
04.08.2015 |
IDENTIFICATION DETAILS
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Name : |
MITSUI BUSSAN METALS CO LTD |
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Registered Office : |
Yaesu First Financing Bldg 19/20F, 1-3-7 Yaesu Chuoku Tokyo 103-0028 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
June, 1987 |
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Com. Reg. No.: |
(Tokyo-Chuoku) 030448 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export and Wholesale of Iron Making Raw Materials, Steel & Non-Ferrous Products & Scraps. |
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No. of Employees : |
187 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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.
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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 first-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2012. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
MITSUI BUSSAN METALS CO LTD
REGD NAME: Mitsui
Bussan Metals KK
MAIN OFFICE: Yaesu
First Financing Bldg 19/20F, 1-3-7 Yaesu Chuoku Tokyo 103-0028 JAPAN
Tel:
03-5202-3200 Fax: 03-5202-1071
URL: http//:www.mitsui-metals.com
E-mail: (thru the URL)
Import, export,
wholesale of iron making raw materials, steel & non-ferrous Products & scraps
Osaka, Nagoya,
Sapporo, Sendai, Yamaguchi, Fukuoka, other (Tot 7)
MASAHIKO SHIMAZU,
PRES Shigeyuki Fukushima, v pres
Keiichi Kato, dir,
dir Hiromitsu Narukama,
dir
Naotaka Hayashi,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 114,410 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 1,500 M
TREND STEADY WORTH Yen 14,489 M
STARTED 1987 EMPLOYES 187
TRADING FIRM
SPECIALIZING IN IRON/STEEL PRODUCTS, WHOLLY OWNED BY MITSUI & CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject
company was established on the basis of a section separated from iron &
steel division of Mitsui & Co Ltd (See REGISTRATION). In Apr 2008 merged two sister firms, Mitsui
Bussan Raw Materials Development Corporation and Mitsui Bussan Metals Sales Co
Ltd and expanded business into non-ferrous and steel raw materials. This is a trading firm specializing in
import, export and wholesale of: steel scraps, ferro-alloys, raw materials for
iron making, nonferrous metal products, iron ore, coking coal, other (See OPERATION). Clients include steel mills, metals industries, other, nationwide.
Financials are
consolidated by the parent, Mitsui & Co Ltd, and disclosed only in digested
forms.
The sales volume for
Mar/2015 fiscal term amounted to Yen 144,410 million, a 1% up from Yen 113,004
million in the previous term. The
recurring profit was posted at Yen 90 million and the net profit at yen 38
million, respectively, compared with Yen 163 million recurring profit and Yen
304 million net losses, respectively, a year ago. .
For the current
term ending Mar 2016 the recurring profit is projected at Yen 95 million and
the net profit at Yen 40 million, respectively, on a 5% rise in turnover, to
Yen 120,130 million. Sales in Asia
grew.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: June, 1987
Regd No.:
(Tokyo-Chuoku) 030448
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 68,000 shares
Issued: 17,174 shares
Sum: Yen 1,500 million
Major shareholders (%): Mitsui & Co
Ltd* (100)
*.. Top-ranked general trading house, Tokyo, founded 1947, listed Tokyo,
Nagoya, Fukuoka, Sapporo S/E’s, capital Yen 341,482 million, sales Yen
5,404,950 million, operating profit Yen 190,270 million, recurring profit Yen
431,827 million, net profit Yen 306,490 million, total assets Yen 12,202,951
million, net worth Yen 4,099,795 million, employees 47,118, pres Tatsuo
Yasunaga
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of: steel products/scraps, ferro-alloys, raw
materials for iron making, non-ferrous metal products/scraps, special steel
scrap, non-ferrous metal products (titanium products, copper, aluminum
products, aluminum secondary alloy), iron ore, coking coal and cokes petroleum
cokes, other raw materials, waste disposal machinery for steel can &
aluminum can, building materials, machinery for prevention of environmental
pollution, vehicle recycling, other (--100%)
Clients: [Mfrs,
wholesalers] Nippon Steel, Mitsui & Co, Toyota Motor, Sumitomo Metal Ind,
Toyo Seikan, Hyundai Steel Co, Nittetsu Shoji Trading, Godo Steel Ltd, Mitsui
& Co Europe, Fuji Light Metals, Aisin Precision, other
No.
of accounts: 1,000
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui & Co, Asahi Seiren, Teck Coal Ltd, Sumitomo Light Metal
Ind, Nippon Steel, Fuji Light Metal, Kestrel Coal Sales, German Creek Coal, JX
Nippon Steel & Sumitomo Metal Ind, other
Payment
record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and
maintained satisfactorily.
Bank References:
SMBC (H/O)
MUFG (Ohdenmacho)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
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Annual
Sales |
|
120,130 |
114,410 |
113,004 |
240,701 |
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Recur.
Profit |
|
95 |
90 |
163 |
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Net
Profit |
|
40 |
38 |
-304 |
910 |
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Total
Assets |
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|
33,900 |
31,083 |
56,979 |
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Current
Assets |
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|
33,673 |
30,505 |
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Current
Liabs |
|
|
20,168 |
17,314 |
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Net
Worth |
|
|
13,489 |
13,528 |
14,750 |
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Capital,
Paid-Up |
|
|
1,500 |
1,500 |
1,500 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.00 |
1.24 |
-53.05 |
-4.91 |
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Current Ratio |
|
.. |
166.96 |
176.19 |
.. |
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N.Worth Ratio |
|
.. |
39.79 |
43.52 |
25.89 |
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R.Profit/Sales |
|
0.08 |
0.08 |
0.14 |
.. |
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N.Profit/Sales |
|
0.03 |
0.03 |
-0.27 |
0.38 |
|
Return On Equity |
|
.. |
0.28 |
-2.25 |
6.17 |
Notes: Financials are disclosed only in digested
forms.
Forecast (or
estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.96 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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.