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Report No. : |
308016 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
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Name : |
MARUBENI TEKMATEX CORPORATION |
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Registered Office : |
Nishikicho Trad Bldg 4F, 3-20 Kanda-Nishikicho Chiyodaku Tokyo |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
October 1973 |
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Com. Reg. No.: |
0100-01-057341 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export and Wholesale
of Textile Machinery. |
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No. of Employees : |
70 |
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 – December 31, 2014
|
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. 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 |
MARUBENI TEKMATEX CORPORATION
REGD NAME: Marubeni
Tekmatex KK
MAIN OFFICE: Nishikicho
Trad Bldg 4F, 3-20 Kanda-Nishikicho Chiyodaku Tokyo 101-0054
Tel: 03-3293-3501
Fax: 03-3293-3508
URL: http//:www.tekmatex.jp
E-mail: info@tekmatex.jp
Import,
export, wholesale of textile machinery
Nil
SHINYA
WATANOB, PRES Katsuhiro Suzuki, mgn
dir
Ichiro
Enomoto, dir Kazuhiko
Hayashi, dir
Isao
Nakagawa, dir Hiroshi
Tanaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 62,920 M*
PAYMENTS no compliant CAPITAL Yen 480
M
TREND STEADY WORTH Yen 3,866 M
STARTED 1973 EMPLOYES 70
*..
Not precisely disclosed and estimated only
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/2014
fiscal term are not precisely disclosed and only estimated.
The
sales volume for Mar/2014 fiscal term is reported amounted to Yen 62,920
million, a 10% up from Yen 57,200 million in the previous term. The weaker Yen may have raised export
earnings in Yen terms. The net profit
was posted at Yen 1,402 million, compared with Yen 488 million a year ago. .
For
the current term ending Mar 2015 the net profit is projected at Yen 1,450
million, on a 6% rise in turnover, to Yen 66,500 million. Exports to China and other S/E Asian
countries continue increasing.
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 13,633,520 million, operating profit Yen 157,462 million,
recurring profit Yen 236,373 million, net profit Yen 210,945 million, total
assets Yen 7,255,380 million, net worth Yen 1,385,313 million, employees
39,465, 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 owned by the parent, Marubeni Corp, and maintained
satisfactorily.
Bank References:
Mizuho Bank (Iidabashi)
SMBC (Asakusabashi)
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 |
62,920 |
57,200 |
56,000 |
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Recur.
Profit |
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Net
Profit |
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1,450 |
1,402 |
488 |
572 |
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Total
Assets |
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17,438 |
11,088 |
19,267 |
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Current
Assets |
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16,800 |
12,770 |
19,100 |
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Current
Liabs |
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13,393 |
10,399 |
17,000 |
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Net
Worth |
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3,866 |
2,445 |
2,180 |
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Capital,
Paid-Up |
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480 |
480 |
480 |
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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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5.69 |
10.00 |
2.14 |
9.27 |
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Current Ratio |
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.. |
125.44 |
122.80 |
112.35 |
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N.Worth Ratio |
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.. |
22.17 |
22.05 |
11.31 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
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2.18 |
2.23 |
0.85 |
1.02 |
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Return On Equity |
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.. |
36.26 |
19.96 |
26.24 |
Notes:
Sales figures for the 31/03/2014 fiscal term are not precisely disclosed and
only estimated.
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.62.14 |
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1 |
Rs.95.78 |
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Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.