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MIRA INFORM REPORT
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Report No. : |
505542 |
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Report Date : |
23.04.2018 |
IDENTIFICATION DETAILS
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Name : |
MARUBENI TEKMATEX CORPORATION |
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Registered Office : |
Nishikicho Trad Square Bldg 4F, 3-20 Kanda-Nishikicho Chiyodaku Tokyo
101-0054 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2017 |
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Date of Incorporation : |
October 1973 |
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Com. Reg. No.: |
0100-01-057341 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export and Wholesale of Textile
Machinery. |
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No. of Employees : |
70 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
JAPAN - ECONOMIC OVERVIEW
Over the past 70 years, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (slightly less than 1% of GDP) have helped Japan develop an advanced economy. Two notable characteristics of the post-World War II 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 have significantly eroded under the dual pressures of global competition and domestic demographic change.
Measured on a purchasing power parity basis that adjusts for price differences, Japan in 2017 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. For three postwar decades, overall real economic growth was impressive - a 10% average in the 1960s, 5% in the 1970s, and 4% in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the aftereffects of inefficient investment and the collapse of an asset price bubble in the late 1980s, which entailed considerable 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.
Japan enjoyed an 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. Led by the Bank of Japan’s aggressive monetary easing, Japan is making modest progress in ending deflation, but demographic decline – a low birthrate and an aging, shrinking population – poses a major long-term challenge for the economy. The government currently faces the quandary of balancing its efforts to stimulate growth and institute economic reforms with the necessity of addressing its sizable public debt, which stands at 235% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate. However, the first such increase, in April 2014, led to another recession, so Prime Minister ABE has twice postponed the next increase, now scheduled for October 2019. Structural reforms to unlock productivity are seen as central to strengthening the economy in the long-run.
Scarce in critical natural resources, Japan has long been dependent on imported energy and raw materials. After the complete shutdown of Japan’s nuclear reactors following the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than before on imported fossil fuels. However, ABE’s government is seeking to restart nuclear power plants that meet strict new safety standards and is emphasizing nuclear energy’s importance as a base-load electricity source. In August 2015, Japan successfully restarted one nuclear reactor at the Sendai Nuclear Power Plant in Kagoshima prefecture, and several other reactors around the country have since resumed operations; however, opposition from local governments has delayed several more restarts that remain pending. Reforms of the electricity and gas sectors, including full liberalization of Japan’s energy market in April 2016 and gas market in April 2017, constitute an important part of Prime Minister Abe’s economic program.
In October 2015, Japan and 11 trading partners reached agreement on the Trans-Pacific Partnership (TPP), a pact that had promised to open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. Japan was the first country to ratify the TPP in December 2016; the United States signaled its withdrawal from the TPP in January 2017, and in November 2017 the remaining 11 countries agreed on the core elements of a modified agreement, which they renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
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Source
: CIA |
Company
name and address
MARUBENI TEKMATEX CORPORATION
REGD NAME: Marubeni
Tekmatex KK
MAIN OFFICE: Nishikicho
Trad Square Bldg 4F, 3-20 Kanda-Nishikicho Chiyodaku Tokyo 101-0054 APAN
Tel:
03-3293-3501 Fax: 03-3293-3508
URL: http//:www.tekmatex.jp
E-mail: info@tekmatex.jp
ACTIVITIES
Import, export,
wholesale of textile machinery
BRANCHES
Nil
OFFICER(S)
HIROSHI NAKAGAWA, PRES Shin’ichi Okumura, dir
Masahiko Iida,
dir, dir Kunio Negishi, dir
Kentaro Kai, dir Yoshiro Yamaiwa, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 59,950 M*
PAYMENTS REGULAR CAPITAL Yen 480 M
TREND STEADY WORTH Yen
1,823 M
STARTED 1973 EMPLOYES 70
*.. Not precisely
disclosed and estimated only
COMMENT
TRADING FIRM
SPECIALIZING IN TEXTILE MACHINERY, OWNED BY MARUBENI CORPATION.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
HIGHLIGHTS
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
FINANCIAL
INFORMATION
Financials are consolidated by the parent, Marubeni Corp, and disclosed
in digested form. Sales figures for the Mar/2017
fiscal term are not precisely disclosed and only estimated.
The sales volume for Mar/2017 fiscal term is estimated amounted to Yen
59,950 million, a 3% up from Yen 58,200 million in the previous term. The net profit was posted at Yen 921 million,
compared with Yen 528 million a year ago.
.
For the current term ending Mar 2018 the net profit is projected at Yen
930 million, on a 3% rise in turnover, to Yen 61,750 million.
The financial situation is considered FAIR and good for ORDINARY business
engagements.
REGISTRATION
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 7,128,805 million, operating
loss Yen 74,137 million, recurring profit Yen 200,371 million, net profit Yen
155350 million, total assets Yen 5,866,555 million, net worth Yen 11,799,950
million, employees 39,914, pres Fumiya Kokubu
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
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 Inc, Liba Corp, Techno
Smart 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 (Iidabashi)
SMBC
(Asakusabashi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2018 |
31/03/2017 |
31/03/2016 |
31/03/2015 |
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Annual
Sales |
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61,750 |
59,950 |
58,200 |
62,700 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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930 |
921 |
528 |
1,092 |
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Total
Assets |
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8,032 |
6,735 |
13,947 |
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Net
Worth |
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1,823 |
1,194 |
4,098 |
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Capital,
Paid-Up |
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480 |
480 |
480 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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3.00 |
3.01 |
-7.18 |
-0.35 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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22.70 |
17.73 |
29.38 |
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N.Profit/Sales |
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1.51 |
1.54 |
0.91 |
1.74 |
Notes: Sales
figures for the 31/03/2017 fiscal term are not precisely disclosed and only
estimated.
Forecast (or estimated)
figures for the 31/03/2018 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.02 |
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1 |
INR 92.73 |
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Euro |
1 |
INR 81.46 |
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Yen |
1 |
INR 0.61 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
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Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.