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Report No. : |
305097 |
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Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
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Name : |
MARUHACHI CORPORATION |
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Registered Office : |
1-12 |
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Country : |
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Financials (as on) : |
31.08.2014 |
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Date of Incorporation : |
September 1968 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Mfg of textile machinery |
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No of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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.
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Source
: CIA |
MARUHACHI
CORPORATION
Maruhachi KK
1-12 Gennyo Maruoka Sakai City Fukui-Pref 910-0276
JAPAN
Tel: 0776-67-0808 Fax: 0776-67-8485
URL: http://www.maruhati.co.jp
E-Mail address: (thru the URL)
Mfg of textile machinery
Nil
At the caption address
MASATAKA SUGAHARA, PRED Takao Sugahara, s/mgn dir
Toshihide Sugahara, mgn dir Kiyoko Sugahara, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 280 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen
80 M
TREND UP WORTH Yen 323 M
STARTED 1968 EMPLOYES 20
MFR OF TEXTILE MACHINERY.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject
company was established originally in 1936 by Masataka Sugahara, on his
account, for mfg textile machines, and was incorporated in 1968. Present executives are his descendants. This is a specialized mfr of textile
machines, their parts and accessories.
Goods are exported.
Financials
are disclosed only partially. Profits
are not precisely disclosed and only
estimated.
The
sales volume for Aug/2014 fiscal term amounted to Yen 280 million, an 8% up
from Yen
260 million in the previous term. The
net profit is estimated posted at Yen 15 million, compared with Yen 13 million
a year ago.
For
the current term ending Aug 2015 the net profit is projected at Yen 18 million,
on a 5% rise in turnover, to Yen 295 million.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements.
Date Registered:
Sept 1968
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 640,000
shares
Issued: 160,000
shares
Sum: Yen
80 million
Major
shareholders (%): Masatake Sugahara, Toshihide
Sugahara (each 50)
No. of
shareholders: 2
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Manufactures
textile machinery, their parts & accessories (--100%)
Clients:
[Mfrs, wholesalers] Asahi Kasei Inter-Textiles, Fukui Textile, other
No. of accounts: 150
Domestic areas of activities:
Centered in Fukui-Pref and vicinities
Suppliers:
[Mfrs, wholesalers] Asahi Kasei Inter-Textiles, GSI Creos, Murata Machinery,
Fukui Textile, other
Payment record: Regular
Location:
Business area in Fukui. Office premises
at the caption address are owned and maintained satisfactory.
Bank References:
Fukui
Bank (H/O)
Shoko
Chukin Bank (Fukui))
Relations:
Satisfactory
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Terms Ending: |
|
31/08/2015 |
31/08/2014 |
31/08/2013 |
31/08/2012 |
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Annual Sales |
|
295 |
280 |
260 |
350 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
18 |
15 |
13 |
20 |
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Total Assets |
|
|
N/A |
N/A |
N/A |
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Net Worth |
|
|
323 |
308 |
295 |
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Capital, Paid-Up |
|
|
80 |
80 |
80 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.36 |
7.69 |
-25.71 |
16.67 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
6.10 |
5.36 |
5.00 |
5.71 |
Notes: Financials are only
partially disclosed. Profits are only
estimated as not disclosed
Forecast (or estimated) figures
for the 31/08/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.73 |
|
|
1 |
Rs. 94.65 |
|
Euro |
1 |
Rs. 70.78 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.