|
Report No. : |
321730 |
|
Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
MARUBENI TEKMATEX CORPORATION |
|
|
|
|
Registered Office : |
Nishikicho Trad Bldg 4F, 3-20 Kanda-Nishikicho Chiyodaku Tokyo
101-0054 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
October 1973 |
|
|
|
|
Com. Reg. No.: |
0100-01-057341 (Tokyo-Chiyodaku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Imports, exports and wholesales textile machinery:
spinning equipment, weaving equipment, printing/dyeing equipment, knitting
equipment, other industrial machinery |
|
|
|
|
No. of Employee : |
70 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused the economy to contract during the 2nd and 3rd quarters of 2014. The economy has largely recovered in the three years since the disaster, but reconstruction in the Tohoku region has been uneven due to labor shortages. 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 2014 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 government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which amounts to more than 240% 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 2015, although the government in 2014 decided to postpone the final phase of the increase until 2017 to give the economy time to recover from the 2014 increase. 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 |
MARUBENI TEKMATEX
CORPORATION
REGD NAME: Marubeni Tekmatex KK
MAIN OFFICE: Nishikicho Trad Bldg 4F, 3-20 Kanda-Nishikicho
Chiyodaku Tokyo 101-0054
JAPAN
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 REGULAR 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 term that ended Mar 2015 the net profit was
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. Final results are yet to be released.
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 7,055,700
million, operating profit Yen 110.060 million, recurring profit Yen 236,373
million, net profit Yen 210,945 million, total assets Yen 7,994,763 million,
net worth Yen 1,551,053 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: Regular
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)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
66,500 |
62,920 |
57,200 |
56,000 |
|
Recur. Profit |
|
|
|
|
|
|
Net Profit |
|
1,450 |
1,402 |
488 |
572 |
|
Total Assets |
|
|
17,438 |
11,088 |
19,267 |
|
Current Assets |
|
|
16,800 |
12,770 |
19,100 |
|
Current Liabs |
|
|
13,393 |
10,399 |
17,000 |
|
Net Worth |
|
|
3,866 |
2,445 |
2,180 |
|
Capital, Paid-Up |
|
|
480 |
480 |
480 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.69 |
10.00 |
2.14 |
9.27 |
|
Current Ratio |
|
.. |
125.44 |
122.80 |
112.35 |
|
N.Worth Ratio |
|
.. |
22.17 |
22.05 |
11.31 |
|
R.Profit/Sales |
|
.. |
.. |
.. |
.. |
|
N.Profit/Sales |
|
2.18 |
2.23 |
0.85 |
1.02 |
|
Return On Equity |
|
.. |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.