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Report No. : |
303670 |
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Report Date : |
15.01.2015 |
IDENTIFICATION DETAILS
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Name : |
ENEOS GLOBE CORPORATION |
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Registered Office : |
Sanno Park Tower 15F, 2-11-1 Nagatacho Chiyodaku Tokyo 100-0014 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
December 2004 |
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Com. Reg. No.: |
0100-01-090889 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of LPG |
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No. of Employees : |
275 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 13,317.5 Million |
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Status : |
Good |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
ENEOS GLOBE CORPORATION
REGD NAME: ENEOS
Globe KK
MAIN OFFICE: Sanno
Park Tower 15F, 2-11-1 Nagatacho Chiyodaku Tokyo 100-0014 JAPAN
Tel: 03-5253-9060
Fax: 03-5253-9491
*.. Moved to the caption
address
URL: http://www.eneos-globe.co.jp
E-Mail address: (thru the URL)
Import, wholesale
of LPG
Sapporo, Sendai,
Kanazawa, Osaka, Hiroshima, Fukuoka, other (Tot 20)
8 locations
(Parent and group companies)
JUN MATSUZAWA,
PRES Masakazu Sato, rep dir
Hirofumi Utagawa,
dir Hideto Kanamori, dir
Minoru Ozawa, dir Atsuo Yago, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 480,483 M
PAYMENTS REGULAR CAPITAL Yen 2,000 M
TREND UP WORTH Yen 54,316 M
STARTED 2004 EMPLOYES 275
TRADING FIRM SPECIALIZING IN LPG.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 13,317.5 MILLION, 30 DAYS NORMAL TERMS
The subject company was established originally in 1960 as Bridgestone LPG
Corporation, and in 1991 merged with Mitsui Petroleum Corp, and renamed as
Mitsui LPG Corp. In 2004 merged with
Marubeni LPG Corp to rename as Marubeni Mitsui LNG Corporation. And in 2004, three parties merged: JX Nippon
Energy & Sumitomo Mining Corp, Marubeni LPG Corp and Mitsui LPG Corp, and
renamed as captioned. This is a trading
firm, with mfg division, for import and wholesale of LPG. LPG’s are manufactured and processed at group
refineries. Clients include oil
companies, chemical firms, other, nationwide.
The sales volume for Mar/2014 fiscal term amounted to Yen 480,413
million, a 19% up from Yen 403,217 million in the previous term. This is attributed to the hike in LPG and oil
prices. The recurring profit was posted
at Yen 11,225 million and the net profit at Yen 6,829 million, respectively,
compared with Yen 7,695 million recurring profit and Yen 4,954 million net
profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit was projected
at Yen 11,500 million and the net profit at Yen 6,950 million, respectively, on
a 5% rise in turnover, to Yen 505,000 million.
Weaker Yen may contribute to raise earnings in Yen terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 13,317.5 million, on 30 days normal terms.
Date Registered: Dec 2004
Regd No.:
0100-01-090889 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 533,344
shares
Issued: 133,336
shares
Sum: Yen
2,000 million
Major
shareholders (%): JX Holdings Inc* (50), Mitsui
& Co (30), Marubeni Corp (20)
No. of shareholders: 3
*.. JX Holdings Inc, established thru
business consolidation of Nippon Oil and Nippon Mining Holdings in 2010, listed
Tokyo /E, capital Yen 100,000 million, sales Yen 12,412,013 million, operating
profit Yen 213,657 million, recurring profit Yen 302,329 million, net profit
Yen 107,042 million, total assets Yen 7,698,057 million, net worth Yen
2,108,439 million, employees 26,616, pres Isao Matsushita,
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales LPG, manufactured by the group oil refiners (--100%)
Clients: [Mfrs,
wholesalers] JX Nippon Oil & Energy Corp (4.9%), Nittsu Shoji Co, Kamei
Corp, Misumi, Saisan Co, San-Ai Oil, Mitsui Oil, Nichibei Koyu Co, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
JX Nippon Mining & Energy Corp (10.2%), KPC, ADNOC, TASWEEK, Itochu Corp,
Marubeni Corp, Sumitomo Corp, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Mizuho Bank (H/O)
SMBC (H/O)
Relations: Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
505,000 |
480,413 |
403,217 |
350,524 |
|
Recur.
Profit |
|
11,500 |
11,225 |
7,695 |
3,854 |
|
Net
Profit |
|
6,950 |
6,829 |
4,954 |
2,997 |
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Total
Assets |
|
|
159,700 |
148,564 |
146,094 |
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Current
Assets |
|
|
118,909 |
106,644 |
103,536 |
|
Current
Liabs |
|
|
92,136 |
82,881 |
80,091 |
|
Net
Worth |
|
|
54,316 |
50,284 |
47,445 |
|
Capital,
Paid-Up |
|
|
2,000 |
2,000 |
2,000 |
|
Div.Ttl
in Million (¥) |
|
|
2,857 |
1,878 |
724 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.12 |
19.15 |
15.03 |
88.21 |
|
Current Ratio |
|
.. |
129.06 |
128.67 |
129.27 |
|
N.Worth Ratio |
|
.. |
34.01 |
33.85 |
32.48 |
|
R.Profit/Sales |
|
2.28 |
2.34 |
1.91 |
1.10 |
|
N.Profit/Sales |
|
1.38 |
1.42 |
1.23 |
0.86 |
|
Return On Equity |
|
.. |
12.57 |
9.85 |
6.32 |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
|
|
1 |
Rs.94.24 |
|
Euro |
1 |
Rs.73.30 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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.