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Report No. : |
336220 |
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Report Date : |
05.09.2015 |
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 |
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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 (Kabushiki Kaisha) |
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Line of Business : |
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%). |
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No. of Employee : |
223 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – 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 inefficienti nvestment 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 |
SUMISHO METALEX CORPORATION
REGD NAME: Sumisho
Metalex KK
MAIN OFFICE: Triton
Office Square Tower 20F, 1-8-10 Harumi Chuoku Tokyo 104-6020 JAPAN
Tel:
03-3533-6010 Fax: 03-3533-6019
URL: http//:www.metalex.co.jp
E-mail: (thru the URL)
Import, export,
wholesale of aluminum products & components
Osaka, Nagoya,
Sapporo, Niigata, Hiroshima, Fukuoka
YOSHIFUMI
YAMAWAKI, PRES Masaaki Yoshimoto, dir
Shin’ichi Hikono,
dir Tsutomu Morikawa,
dir
Akihiko Shono, dir Kenji Yasuda, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 75,727 M
PAYMENTS REGULAR CAPITAL Yen 1,169 M
TREND STEADY WORTH Yen 8,801 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 AND CREDIT ENGAGEMENTS: US$2,500.000/ O/A 90 DAYS TERMS.
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, other (Details in OPERATION). Major items are hot-water supply, heating
systems, etc. Clients include city gas
companies, electronics mfrs, other.
The sales volume for Mar/2015 fiscal term amounted to Yen 75,727
million, a 4% down from Yen 78,827 million in the previous term. Sales of solar panels & parts
declined. The recurring profit was
posted at Yen 1,905 million and the net profit at Yen 1,136 million,
respectively, compared with Yen 2,389 million recurring profit and Yen 1,451
million net profit, respectively, a year ago.
.
For the current term ending Mar 2016 the recurring profit is projected
at Yen 1,985 million and the net profit at Yen 1,150 million, respectively, on
a 5% rise in turnover, to Yen 79,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. The proposed amount for 90 days terms is well within the
firm’s financial capabilities. .
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 3,762,236 million, operating loss Yen 84,374 million, recurring loss
Yen 18,561 million, net loss Yen 73,170 million, total assets Yen 9,021,370
million, net worth Yen 2,481,432 million, employees 75,448, 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, others.
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: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Tokyo)
Sumitomo Mitsui
Trust Bank (Tokyo)
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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79,500 |
75,727 |
78,827 |
68,394 |
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Recur.
Profit |
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1,985 |
1,905 |
2,389 |
1,749 |
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Net
Profit |
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1,150 |
1,136 |
1,451 |
1,050 |
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Total
Assets |
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28,127 |
26,586 |
28,313 |
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Current
Assets |
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27,163 |
25,861 |
27,557 |
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Current
Liabs |
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18,266 |
16,719 |
18,898 |
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Net
Worth |
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8,801 |
9,260 |
8,856 |
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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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|
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1,050 |
1,024.5 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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4.98 |
-3.93 |
15.25 |
-15.62 |
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Current Ratio |
|
.. |
148.71 |
154.68 |
145.82 |
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N.Worth Ratio |
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.. |
31.29 |
34.83 |
31.28 |
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R.Profit/Sales |
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2.50 |
2.52 |
3.03 |
2.56 |
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N.Profit/Sales |
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1.45 |
1.50 |
1.84 |
1.54 |
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Return On Equity |
|
.. |
12.91 |
15.67 |
11.86 |
Notes: Forecast
(or estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
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|
1 |
Rs.101.19 |
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Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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.