MIRA INFORM REPORT

 

 

Report Date :

29.01.2011

 

IDENTIFICATION DETAILS

 

Name :

DKSH Japan KK

 

 

Registered Office :

3-4-19 Mita Minatoku Tokyo 108-0073, Japan

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

September 1965

 

 

Com. Reg. No.:

(Tokyo-Minatoku) 110147

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of Machines, Foods, Pharmaceuticals, Textiles, other

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 533.6 Million

Status :

Moderate

Payment Behaviour :

Regular

Litigation :

--

 

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 – June 30, 2010

 

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

COMPANY NAME

 

DKSH JAPAN KK

 

 

REGD NAME

 

DKSH Japan KK

 

 

MAIN OFFICE

 

3-4-19 Mita Minatoku Tokyo 108-0073JAPAN

Tel: 03-5441-4511     Fax: 03-5441-4588

URL:                 http://www.dksh.jp

E-Mail address: webnsh.tyo@dksh.jp

 

 

ACTIVITIES

 

Import, export, wholesale of machines, foods, pharmaceuticals, textiles, other

 

 

BRANCHES

 

Yokohama, Osaka, Nagoya, Sapporo, Fukuoka; Fukuroi (logistics center)

 

 

OFFICERS

 

JOERG W WOLLE, PRESH/CH  Stephan Ritzmann, mgn dir        

Michio Watanabe, mgn dir          Yoshiyuki Shirakawa, mgn dir    

Armin Radzwill, mgn dir              Kenya Ohnuma, mgn dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 30,080 M

PAYMENTS      REGULAR                     CAPITAL           Yen 1,600 M

TREND             SLOW                          WORTH            Yen 4,183 M

STARTED         1965                             EMPLOYES      320

 

COMMENT

 

TRADING HOUSE OF SWISS CAPITAL.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                                               

MAX CREDIT LIMIT: YEN 533.6 MILLION, 30 DAYS NORMAL TERMS.  .

 

 

HIGHLIGHTS

           

This an old-established trading firm of Swiss origin dating back to 1865 when the firm of Siber & Brennwald entered the raw silk trade in Yokohama.  The firm built Japan’s first gas plants for the first gas light in Yokohama & Ginza, Tokyo.  Also, began importing watches and machinery from Switz.  The firm was formally incorporated as Siebel Hegner Japan KK in 1965 to commemorate its 100th anniversary in Japan.  Renamed as captioned in Apr 2009.  The firm has since developed into a general trading house with handling items expanded, ranging from industrial chemicals, industrial machinery to watches, textiles, healthcare and other consumer goods.  The firm has three main divisions: Luxury & Life Style, Performance Materials and Technology (details see OPERATION). 

 

 

FINANCIAL INFORMATION

           

The sales volume for Dec/2009 fiscal term amounted to Yen 30,080 million, a 16% down from Yen 35,698 million in the previous term.  The global economic downturn that erupted in Nov 2008 affected the sales.  Consumer spending was sluggish.  Department store sales in Dec 2009 fell 10%.  Hit by slumping sales, major department store operators were being forced to close unprofitable sites  The recurring profit was posted at Yen 1,107 million and the net profit at Yen 408 million, respectively, compared with Yen 1,123 million recurring profit and Yen 819 million net profit, respectively, a year ago.

 

For the term that just ended Dec 2010 the recurring profit was projected at Yen 1,100 million and the net profit at Yen 410 million, respectively, on an 8% rise in turnover, to Yen 32,500 million.ion.  Final results are yet to be released.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 533.6 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:                      Sept 1965

Regd No.:                                             (Tokyo-Minatoku) 110147

Legal Status:                           Limited Company (Kabushiki Kaisha)

Authorized:                               160,000 shares

Issued:                                      160,000 shares

Sum:                                          Yen 1,600 million

Major shareholders (%):           DKSH Holding Ltd (Zurich, Switz) (100)

           

Nothing detrimental is known as to the commercial morality of executives.

 

OPERATION

 

Activities: A general trading house of Swiss origin, with the following four core business      divisions (100%)

 

(Three core sales divisions):

 

Luxury & Lifestyle Div: watches, accessories & apparel, household luxury, consumer health;

 

Performance Materials Div: specialty-chemicals & ingredients for Food & Beverage Industry, for Personal Care & Cosmetics Industry, for Specialty Chemicals Industry, for Pharmaceutical Industry, other;

 

Technology Div: technical solutions for Food & Beverages, Research, advanced metals, other

     

Clients: [Food processors, mfrs, wholesalers] Merck Japan, Kagome, Morinaga & Co,

Morinaga Milk Ind, Dainippon Ink & Chemicals, Oji Paper, Toyo Kasei Kogyo,

DKSH group firms, Nichi-Iko Pharmaceuticals, other. 

Exports to S/E Asia. 

 

No. of accounts: 2,000

 

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Givaudan Japan, Leica Camera Japan, Darst PhotoTechnique,

Leitz (Germany), DKSH group firms, Merck KAGG, Daido Steel, Toyo Kasei Kogyo,

Sumitomo Light Metal Ind, other.

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

Mizuho Corporate Bank (Yokohama)

MUFJ (Yokohama)

Relations: Satisfactory

 

 

FINANCES

 (In Million Yen)

 

       Terms Ending:

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Annual Sales

　

32,500

30,080

35,698

36,793

Recur. Profit

　

1,100

1,017

1,123

1,284

Net Profit

　

410

408

819

610

Total Assets

　

 

15,954

19,543

19,538

Current Assets

　

 

13,319

16,310

16,277

Current Liabs

　

 

10,757

11,409

12,283

Net Worth

　

　

4,183

4,325

4,252

Capital, Paid-Up

　

　

1,500

1,500

1,500

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

8.05

-15.74

-2.98

6.45

    Current Ratio

 

..

123.82

142.96

132.52

    N.Worth Ratio

..

26.22

22.13

21.76

    R.Profit/Sales

 

3.38

3.38

3.15

3.49

    N.Profit/Sales

1.26

1.36

2.29

1.66

    Return On Equity

..

9.75

18.94

14.35

 

Notes: Forecast (or estimated) figures for the 31/12/2010 fiscal term. 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.74

UK Pound

1

Rs.72.73

Euro

1

Rs.62.73

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.