MIRA
INFORM REPORT
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Report Date : |
20.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
ARKEMA KK |
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Registered Office : |
Fukoku Seimei Bldg 15F, 2-2-2 Uchisaiwaicho Chiyodaku
Tokyo 100-0011 |
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Country : |
Japan |
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Date of Incorporation : |
Jan 1981 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of
industrial chemicals |
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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Maximum Credit Limit : |
Yen 297.6 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
ARKEMA KK
REGD NAME
Arkema KK
MAIN OFFICE
Fukoku Seimei Bldg 15F, 2-2-2 Uchisaiwaicho Chiyodaku Tokyo
100-0011 JAPAN
Tel: 03-5251-9917
Fax: 03-5251-9930
URL: http://www.arkemagroup.com
E-Mail address: (thru
the URL)
ACTIVITIES
Import, export, wholesale of industrial chemicals
BRANCHES
Kyoto (Technical Center)
FACTORY(IES)
(subcontracted)
OFFICERS
JEAN PIERRE AUVIGNE, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 16,600 M
PAYMENTS REGULAR CAPITAL Yen 1,704 M
TREND STEADY WORTH Yen 1,704 M*
STARTED 1981 EMPLOYES 54
*..
Expressed by the paid-up capital
COMMENT
TRADING FIRM SPECIALIZING IN CHEMICALS, WHOLLY OWNED BY ARKEMA
GROUP, FRANCE. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 297.6 MILLION, 30 DAYS NORMAL
TERMS. .
HIGHLIGHTS
The subject company was established originally in 1974 as a
representative office in Japan by Total Group, France for marketing industrial
chemicals. Incorporated in 1981 as
Atofina Japan. In Jan 2004, when JV
between Sumitomo Chemical & Atofina, France withdrew from special resin
(ethylene-based), succeeded the business.
In Nov 2004, when the chemical operations of Total group, France, the
firm reorganized operations and renamed as captioned.
Arkema Yoshitomi Ltd:
JV with API Corp 51% (Mitsubishi Chemical Holdings Group) & Arkema KK 49%,
founded 1990, Osaka, mfr of organic peroxides, capital Yen 100 million, turnover Yen 2,000 million,
employees 32, pres Norio Kakinuma; Jean Pierre Auvigne is registered as
director.
FINANCIAL INFORMATION
Financials
are only partially disclosed.
The sales volume for Dec/2005 fiscal term amounted to Yen 16,600 million, an 8% up from Yen 15,410 million in the previous term. This is thanks to the rise in material prices, added to increase in imports. The net profit is reportedly posted at Yen 830 million, but not confirmed, as the firm does not disclose net profits. The net worth is expressed by the paid-in capital as the reorganization was conducted in Nov 2004.
For the term ended Dec 2006 the net profit is reported posted
at Yen 850 million, on a 2% rise in turnover, to Yen 17,000 million. Final results have not been made available.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 297.6 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan
1981
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4,600
shares
Issued: 4,600
shares
Sum: Yen
1,706 million
Major shareholders (%): Arkema
(France) (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, exports and wholesales industrial
chemicals, petrochemicals, such as: fluorine, chlorine, bromine, oxides,
plastic products (films), others, the products of Arkema, France and its group
firms (--100%).
Clients: [Mfrs, wholesalers] Marubeni Corp, Mitsui & Co, Mitsubishi Chemical, Showa Denko, Asahi Glass, Daikin Ind, Toa Gosei Co, Kohyei Trading, Tokyo Zairyo, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Supplied wholly from Arkema
(France) and its group firms
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Shinjuku-Chuo)
PNP Paribas Bank (Tokyo)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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Annual
Sales |
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17,000 |
16,600 |
15,410 |
15,194 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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850 |
830 |
770 |
760 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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1,706 |
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Capital,
Paid-Up |
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1,706 |
1,706 |
1,406 |
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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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S.Growth Rate |
2.41 |
7.72 |
1.42 |
10.77 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
5.00 |
5.00 |
5.00 |
5.00 |
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Note: Financials are only partially disclosed.
After reorganization in Nov 2004, the firm newly started
operations. Financials prior to that
term refers to Atofina Japan, the former body of the subject.
Forecast (or estimated) for the 31/12/2006 fiscal term.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)