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Report No. : |
343975 |
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Report Date : |
05.10.2015 |
IDENTIFICATION DETAILS
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Name : |
MARUBENI INTEX CO LTD |
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Registered Office : |
Shin-Daibiru Bldg 29F, 1-2-1 Dojimahama Kitaku Osaka 530-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
November 1967 |
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Com. Reg. No.: |
1200-01-090121 |
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Legal Form : |
Limited Company |
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Line of Business : |
A trading firm for import, export and wholesale of: Apparel & accessories (garments, sox, leg-knits, panty stockings, gloves, other) (35%), industrial, agricultural, fishing, other materials (27%), furniture, interior goods, upholstery materials, other (38%) |
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No. of Employees : |
121 |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 an 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. Scarce in many natural resources,
Japan has long been dependent on imported raw materials. Since the complete
shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster
in 2011, Japan's industrial sector has become even more dependent than it was
previously on imported fossil 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
impressive - 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 aftereffects 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. 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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out nuclear
power with a new policy of seeking to restart nuclear power plants that meet
strict new safety standards, and emphasizing nuclear energy’s importance as a
base-load electricity source. Japan joined the Trans-Pacific Partnership (TPP)
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 first-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2012. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
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Source
: CIA |
MARUBENI INTEX CO LTD
REGD NAME: Marubeni
Intex KK
MAIN OFFICE: Shin-Daibiru
Bldg 29F, 1-2-1 Dojimahama Kitaku Osaka 530-0004 JAPAN
Tel: 06-6347-3500
Fax: 06-6347-3395
URL: http://www.marubeni-intex.co.jp
E-Mail address: head-Qtex@marubeni-intex.co.jp
ACTIVITIES: Import,
export, wholesale of garments, accessories, industrial materials, other
BRANCHES: Tokyo
OVERSEAS: Marubeni
Corp’s overseas subsidiaries/offices/agents are utilized
OFFICERS: HIDENAO
YOICHI, PRES Kazunobu Teraoka,
s/mgn dir
Takuya Yoda, mgn
dir Takafumi Katayama, dir
Yuji Takigawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 43,835 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 377 M
TREND SLOW WORTH Yen
5,404 M
STARTED 1967 EMPLOYES 121
COMMENT: TRADING FIRM, OWNED BY MARUBENI CORPORATION. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a division separated from Textile Department of Marubeni Corp (See REGISTRATION). This is a trading firm specializing in living inner legs, industrial/agricultural materials, other. The parent’s overseas subsidiaries, offices and agents are fully utilized. Clients include textile mfrs, wholesalers, other
The sales volume for Mar/2015 fiscal term amounted to Yen 43,835 million, a 6% down from Yen 46,753 million in the previous term. The recurring profit was posted at Yen 1,382 million and the net profit at Yen 856 million, respectively, compared with Yen 1,610 million recurring profit and Yen 845 million net profit, respectively, a year ago.
For the current term ending Mar 2016 the recurring profit is projected at Yen 1,500 million and the net profit at Yen 950 million, respectively, on a 5% rise in turnover, to Yen 46,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Nov 1967
Regd No.:
1200-01-090121
(Osaka-Kitaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 3
million shares
Issued: 754,000
shares
Sum: Yen
377 million
Major
shareholders (%): Marubeni Corporation* (100)
*.. Comprehensive trading house belonging to Fuyo Group, Tokyo, founded 1949, listed Tokyo, Nagoya S/E’s, capital Yen 262,686 million, turnover Yen 7,834,295 million, operating profit Yen 23,632 million, recurring profit Yen 124,614 million, net profit Yen 105,604 million, total assets Yen 7,828,252 million, net worth Yen 1,619,125 million, employees 38,830, pres Fumiya Kokubu
Nothing detrimental is known as to the commercial morality of executives.
Activities: A trading firm for import, export and wholesale of: Apparel & accessories (garments, sox, leg-knits, panty stockings, gloves, other) (35%), industrial, agricultural, fishing, other materials (27%), furniture, interior goods, upholstery materials, other (38%)
Clients: [Mfrs, wholesalers] Kyoto Nishikawa, Kao Corp, Leckitt Benchiser Japan, Kyouwa Corp, Suminoe Teijin Techno, Elleair Products, Tesac Corp, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Toyobo Co, Mitsubishi Rayon, Asahi Kasei Fibers Corp, Toray Ind Inc, Haso Ltd, Kuraray Co, Kawamura Shoji Corp, Kurabo Ind, Unitika Ltd, Ube Exsymo, other
Payment record: No Complaints
Location: Business area in Osaka. Office premises at the caption address are leased and maintained satisfactory.
Bank References:
Mizuho Bank
(Semba)
SMBC (H/O)
Relations:
Satisfactory
(In Million
Yen)
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Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
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Annual
Sales |
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46,000 |
43,835 |
46,753 |
39,400 |
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Recur.
Profit |
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1,500 |
1,382 |
1,610 |
1,460 |
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Net
Profit |
|
950 |
856 |
945 |
880 |
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Total
Assets |
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13,611 |
13,374 |
12,700 |
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Current
Assets |
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13,404 |
13,075 |
12,400 |
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Current
Liabs |
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8,031 |
8,191 |
8,000 |
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Net
Worth |
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5,404 |
5,016 |
4,500 |
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Capital,
Paid-Up |
|
|
377 |
377 |
377 |
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Div.Ttl
in Million (¥) |
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|
472 |
438 |
438 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.94 |
-6.24 |
18.66 |
-3.48 |
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Current Ratio |
|
.. |
166.90 |
159.63 |
155.00 |
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N.Worth Ratio |
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.. |
39.70 |
37.51 |
35.43 |
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R.Profit/Sales |
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3.26 |
3.15 |
3.44 |
3.71 |
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N.Profit/Sales |
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2.07 |
1.95 |
2.02 |
2.23 |
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Return On Equity |
|
.. |
15.84 |
18.84 |
19.56 |
Notes: Forecast
(or estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.65.55 |
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|
1 |
Rs.99.17 |
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Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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Report Prepared
by : |
TPT |
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.