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Report No. : |
302802 |
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Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SUMISHO METALEX CORPORATION |
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Registered Office : |
Triton Office Square Tower 20F, 1-8-10
Harumi Chuoku Tokyo 104-6020 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 (Estimated) |
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Date of Incorporation : |
April 1973 |
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Com. Reg. No.: |
(Tokyo-Chuoku) 020211 |
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Legal Form : |
Limited Company |
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Line of Business : |
importer, exporter
and wholesaler of Aluminum
Products & Components including Electric/Electronic Products, Transport,
Industrial Components, Hot-Water Heating Systems, Housing Equipment &
Building Materials Subject product
ranges includes: Electric & Electronic
Products: solar power generation, rechargeable battery, materials for air
conditioners, electric & telecommunication equipment (aluminum sheets
& fabricated products for satellite antenna, fabricated products for
terrestrial antenna) Transport,
Industrial Components: transport (pistons & connecting rods for
engines, aluminum materials & precision products for aircrafts, precision
products for oil pressure control systems, aluminum molded/forged products,
aluminum extrusion, heat exchangers; Hot-Water
Heating Systems: hot-water heating terminal, hot-water piping components, hot-water
floor heating, hot-water radiator; Housing
Equipment/Facilities: air supply/exhaust pipe components, water supply
system by plastic piping, fire extinguishing equipment; Building
Materials: exterior/roofing materials, plastic building materials, metallic
materials. |
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No of Employees : |
223 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
SUMISHO METALEX CORPORATION
Sumisho Metalex KK
Triton Office
Square Tower 20F, 1-8-10 Harumi Chuoku Tokyo 104-6020 JAPAN
Tel:
03-3533-6010 Fax: 03-3533-6019
*.. The is its Osaka Branch at: 4-5-33 Kitahama Chuoku Osaka
URL: http//:www.metalex.co.jp
E-mail: (thru the URL)
importer, exporter
and wholesaler of Aluminum
Products & Components including Electric/Electronic Products, Transport,
Industrial Components, Hot-Water Heating Systems, Housing Equipment &
Building Materials
Osaka,
Nagoya, Sapporo, Niigata, Hiroshima, Fukuoka
YOSHIFUMI
YAMAWAKI, PRES Masaaki Yoshimoto, dir
Shin’ichi
Hikono, dir Tsutomu
Morikawa, dir
Akihiko
Shono, dir Koji
Fukushima, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 78,827 M
PAYMENTSNo Complaints
CAPITAL Yen 1,169 M
TREND STEADY WORTH Yen 9,262 M
STARTED 1973 EMPLOYES 223
TRADING FIRM SPECIALIZING IN
ALUMINUM PRODUCTS & COMPONENTS, WHOLLY OWNED BY SUMITOMO CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established on the basis of a non-ferrous metal
division separated from Sumitomo Corporation, one of leading general trading
houses, Tokyo (See REGISTRATION). This is a trading firm specializing in
import, export and wholesale of aluminum products & components:
electric/electronic products, transport, industrial components, hot-water
heating systems, housing equipment & building materials (Details in OPERATION). Major items are hot-water supply, heating
systems. Clients include city gas
companies, electronics mfrs, other.
The sales volume for Mar/2014 fiscal term amounted to Yen 78,827
million, a 15% up from Yen 68,394 million in the previous term. Sales of hot-water heating system were in good
demand and sales rose. The recurring
profit was posted at Yen 2,389 million and the net profit at Yen 1,451 million,
respectively, compared with Yen 1,749 million recurring profit and Yen 1,050
million net profit, respectively, a year ago.
.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 2,400 million and the net profit at Yen 1,500 million, respectively, on
a 5% rise in turnover, to Yen 82,500 million.
Sales of floor heating system continue rising.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr 1973
Regd No.: (Tokyo-Chuoku) 020211
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 39 million shares
Issued: 9.98 million shares
Sum: Yen
1,169,800 million
Major shareholders
(%):
Sumitomo Corporation* (100)
*.. One of general trading houses, Tokyo, founded 1919, listed Tokyo,
Nagoya, Fukuoka S/E’s, capital Yen 219,279 million, turnover Yen 3,317,406
million, operating profit Yen 171,750 million, recurring profit Yen 304,246
million, net profit Yen 223,064 million, total assets Yen 8,604,791 million,
net worth Yen 2,427,576 million, employees 74,638, pres Kuniharu Nakamura
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales components water-supply systems, including hot-water supply,
fabricated products for electric/electronic, transport and general machinery industries,
building materials, others (--100%).
(Handling Items):
Electric &
Electronic Products: solar power generation, rechargeable battery,
materials for air conditioners, electric & telecommunication equipment
(aluminum sheets & fabricated products for satellite antenna, fabricated
products for terrestrial antenna)
Transport,
Industrial Components: transport (pistons & connecting rods for
engines, aluminum materials & precision products for aircrafts, precision
products for oil pressure control systems, aluminum molded/forged products,
aluminum extrusion, heat exchangers;
Hot-Water Heating
Systems: hot-water heating terminal, hot-water piping components, hot-water
floor heating, hot-water radiator;
Housing
Equipment/Facilities: air supply/exhaust pipe components, water supply
system by plastic piping, fire extinguishing equipment;
Building
Materials: exterior/roofing materials, plastic building materials, metallic
materials.
Clients: [Mfrs, wholesalers] Sharp Corp, Tokyo
Gas Co, Osaka Gas Co, other
No. of accounts: 800
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Sumitomo Light
Metal Ind, Sumitomo Metal Mining, UACJ, Tanaka Chemical Corp, other.
Payment record: No
Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(Tokyo)
Sumitomo
Trust Bank (Tokyo)
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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82,500 |
78,827 |
68,394 |
81,053 |
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Recur.
Profit |
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2,400 |
2,389 |
1,749 |
1,723 |
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Net
Profit |
|
1,500 |
1,451 |
1,050 |
1,024 |
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Total
Assets |
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26,586 |
28,313 |
25,657 |
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Current
Assets |
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25,861 |
27,557 |
24,924 |
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Current
Liabs |
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16,719 |
18,898 |
16,256 |
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Net
Worth |
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|
9,260 |
8,856 |
8,782 |
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Capital,
Paid-Up |
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|
1,169 |
1,169 |
1,169 |
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Div.Ttl
in Million (¥) |
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|
0.00 |
1,024.5 |
561.3 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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4.66 |
15.25 |
-15.62 |
-22.71 |
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Current Ratio |
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.. |
154.68 |
145.82 |
153.32 |
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N.Worth Ratio |
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.. |
34.83 |
31.28 |
34.23 |
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R.Profit/Sales |
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2.91 |
3.03 |
2.56 |
2.13 |
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N.Profit/Sales |
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1.82 |
1.84 |
1.54 |
1.26 |
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Return On Equity |
|
.. |
15.67 |
11.86 |
11.66 |
Notes:
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 |
|
US Dollar |
1 |
Rs.61.61 |
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UK Pound |
1 |
Rs.93.49 |
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Euro |
1 |
Rs.71.38 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
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 |
-- |
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.