|
Report No. : |
357144 |
|
Report Date : |
25.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
MARUBENI TEKMATEX CORPORATION |
|
|
|
|
Registered Office : |
Nishikicho Trad Bldg 4F, 3-20 Kanda-Nishikicho Chiyodaku Tokyo 101-0054 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
October 1973 |
|
|
|
|
Com. Reg. No.: |
0100-01-057341 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Imports, exports and wholesales textile machinery: spinning equipment,
weaving equipment, printing/dyeing equipment, knitting equipment, other
industrial machinery (--100%). |
|
|
|
|
No. of Employees : |
70 |
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 : |
No Complaints |
|
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 |
|
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 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 |
MARUBENI TEKMATEX CORPORATION
REGD NAME: Marubeni
Tekmatex KK
MAIN OFFICE: Nishikicho
Trad Bldg 4F, 3-20 Kanda-Nishikicho Chiyodaku Tokyo 101-0054
JAPAN
Tel: 03-3293-3501
Fax: 03-3293-3508
*.. The is where the parent, Marubeni Corp, is located
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 Shin’ichi Fujibe, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 62,700 M*
PAYMENTSNO
COMPLAINTS CAPITAL YEN 480 M
TREND STEADY WORTH Yen 4,098 M
STARTED 1973 EMPLOYES 70
*.. Not precisely
disclosed and estimated only
COMMENT: TRADING FIRM SPECIALIZING IN TEXTILE MACHINERY, OWNED BY MARUBENI CORATION. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
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
Financials are consolidated by the parent, Marubeni Corp, and disclosed
in digested form. Sales figures for the Mar/2015
fiscal term are not precisely disclosed and only estimated.
The sales volume for Mar/2015 fiscal term is reported amounted to Yen
62,700 million, a slight down from Yen 62,920 million in the previous
term. The net profit was posted at Yen
1,092 million, compared with Yen 1,402 million a year ago. .
For the current term ending Mar 2016 the net profit was projected at Yen
1,150 million, on a 3% rise in turnover, to Yen 64,600 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
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 S/E, capital Yen 262,686 million, turnover
Yen 7,834,295 million, operating profit Yen 23,632 million, recurring profit Yen
124,614 million, net profit Yen 105,604 million, total assets Yen 7,828,252
million, net worth Yen 1,619,125 million, employees 38,830, pres Fumiya Kokubu
Nothing
detrimental is known as to the commercial morality of executives.
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 leased and maintained satisfactorily.
Bank
References:
Mizuho Bank
(Iidabashi)
SMBC
(Asakusabashi)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
|
Annual
Sales |
|
64,600 |
62,700 |
62,920 |
57,200 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
1,150 |
1,092 |
1,402 |
488 |
|
Total
Assets |
|
|
13,947 |
17,438 |
11,088 |
|
Current
Assets |
|
|
13,645 |
16,800 |
12,770 |
|
Current
Liabs |
|
|
9,802 |
13,393 |
10,399 |
|
Net
Worth |
|
|
4,098 |
3,866 |
2,445 |
|
Capital,
Paid-Up |
|
|
480 |
480 |
480 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.03 |
-0.35 |
10.00 |
2.14 |
|
Current Ratio |
|
.. |
139.21 |
125.44 |
122.80 |
|
N.Worth Ratio |
|
.. |
29.38 |
22.17 |
22.05 |
|
R.Profit/Sales |
|
.. |
.. |
.. |
.. |
|
N.Profit/Sales |
|
1.78 |
1.74 |
2.23 |
0.85 |
|
Return On Equity |
|
.. |
26.65 |
36.26 |
19.96 |
Notes:
Sales figures for
the 31/03/2015 fiscal term are not precisely disclosed and only estimated.
Forecast (or
estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
YEN |
1 |
Rs.0.55 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
TPT |
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.