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Report No. : |
307638 |
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Report Date : |
11.02.2015 |
IDENTIFICATION DETAILS
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Name : |
METAL ONE PIPE & TUBULAR PRODUCTS INC |
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Registered Office : |
Shin-Tamachi Bldg 5F, 5-34-6 Shiba Minatoku Tokyo 108-0014 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
Feb., 2011 |
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Com. Reg. No.: |
0104-01-092141 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Steel Pipes, Valves,
Fittings, Mechanical Devices. |
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No. of Employees : |
347 |
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 : |
Regular |
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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 |
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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. 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.
|
Source
: CIA |
METAL ONE PIPE & TUBULAR PRODUCTS INC (This is
the correct company name)
REGD NAME: KK
Metal One Kokan
MAIN OFFICE: Shin-Tamachi
Bldg 5F, 5-34-6 Shiba Minatoku Tokyo 108-0014 JAPAN
Tel: 03-5439-8167 Fax: 03-5439-2532
*.. The is
that of the parent, Metal One Corporation
URL: http://www.mtlop.co.jp
E-Mail address: (thru the URL)
Import,
export, wholesale of steel pipes, valves, fittings, mechanical devices
Osaka,
Kobe, Hiroshima, other (Tot 36)
TARO
AKASAKA, PRES Iichiro
Matsumoto, dir
Katsuhiro Kawaguchi, dir Hirokazu Kanai, dir
Shuichi
Iwata, dir Takehiko
Katsumata, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen
63,660 M
PAYMENTSREGULAR CAPITAL Yen
500 M
TREND STEADY WORTH Yen 5,351 M
STARTED 2011 EMPLOYES 347
TRADING FIRM SPECIALIZING IN
STEEL PRODUCTS,
OWNED BY METAL ONE CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The
subject company was established in 2011 on the basis of integration with
Otofuji Corp, founded 1954, upon the Otofuji integrated with Metal One’s
tubular products operation. This is a trading firm specializing in import,
export and wholesale of steel products: pipes, valves, sheets, fittings,
mechanical devices, other. In Jan 2013
the firm purchased Dia Packaging Materials Co Ltd’s tubular products business.
Clients include major steel mfrs, engineering firms, other.
The
sales volume for Mar/2014 fiscal term amounted to Yen 63,660 million, a 9% up from
Yen 58,340 million in the previous term.
This is attributed to the said purchase of tubular business
operations. The recurring profit was
posted at Yen 1,624 million and the net profit at Yen 980 million,
respectively, compared with Yen 1,198 million recurring profit and Yen 694
million net profit, respectively, a year ago.
For
the current term ending Mar 2015 the recurring profit is projected at Yen 1,700
million and the net profit at Yen 1,000 million, respectively, on a 5% rise in
turnover, to Yen 66,500 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Feb 2011
Regd No.: 0104-01-092141
(Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 40,000 shares
Issued:
10,000 shares
Sum: Yen
500 million
Major shareholders (%): Metal One Corp* (100)
*.. Top-ranked
trader of steel & products, Tokyo, founded 2003, capital Yen 100,000 million, sales Yen 2,563,303 million, operating
profit Yen 35,100
million, recurring profit Yen 33,696 million, net profit Yen
23,731 million, total assets Yen 1,113,845 million, net worth Yen 314,246 million,
employees 10,000, pres Iwao Toda
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for import, export and
wholesale of steel products: pipes, valves, fittings, mechanical device;
cutting of steel pipes, installation of steel pipes & machines, other
(--100%)
Clients: [Mfrs, wholesalers] Mitsubishi Heavy
Ind, Metal One, Maruichi Steel Tube, Shinko Kenzai Ltd, Mitsubishi Chemical
Engineering, other
No. of
accounts: 350
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Metal One (50%),
Maruichi Steel Tube, Metal One West Japan, JFE Welded Pipe Mfg, other
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption
address are leased and
maintained satisfactory.
Bank References:
MUFG
(H/O)
Relations:
Satisfactory
(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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66,500
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63,660
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58,340
|
65,108
|
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Recur.
Profit |
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1,700
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1,624
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1,198
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1,023
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Net
Profit |
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1,000
|
980 |
694 |
519 |
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Total
Assets |
|
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27,367
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24,825
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27,904
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Current
Assets |
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25,443
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22,886
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25,762
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Current
Liabs |
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21,090
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19,577
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22,710
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Net
Worth |
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5,351
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4,373
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4,351
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Capital,
Paid-Up |
|
|
500 |
500 |
500 |
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Div.Ttl
in Million (¥) |
|
|
0.00 |
712 |
498 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.46 |
9.12 |
-10.40
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#DIV/0! |
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Current Ratio |
|
.. |
120.64
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116.90
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113.44
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N.Worth Ratio |
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.. |
19.55
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17.62
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15.59
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R.Profit/Sales |
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2.56 |
2.55 |
2.05 |
1.57 |
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N.Profit/Sales |
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1.50 |
1.54 |
1.19 |
0.80 |
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Return On Equity |
|
.. |
18.31
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15.87
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11.93
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Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.96 |
|
|
1 |
Rs.94.41 |
|
Euro |
1 |
Rs.70.20 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.