MIRA INFORM REPORT
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Report Date : |
04.03.2011 |
IDENTIFICATION DETAILS
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Name : |
OG CORPORATION |
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Registered Office : |
4-1-43 Miyahara Yodogawaku |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
January
1923 |
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Legal Form : |
Limited Company |
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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 1,518.2 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
Company name
OG CORPORATION
REGD NAME
O. G. KK
MAIN OFFICE
4-1-43 Miyahara
Yodogawaku
Tel:
06-6395-5100 Fax: 06-6395-5115
E-Mail
address: honsha@ogcorp.co.jp/ (each division has
its own E-mail address)
ACTIVITIES
Import,
export, wholesale of industrial chemicals
BRANCHES
OVERSEAS
Mumbai,
(Affiliates):
(See
REGISTRATION for related companies)
OFFICERS
HIROYUKI
TAKINO, PRES Muneaki
Yoshitake, mgn dir
Norio
Katoh, mgn dir Eigoro
Kuniyoshi, mgn dir
Kazuo
Nakaue, dir Tsuneo
Sugimoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 110,154 M
PAYMENTS REGULAR CAPITAL Yen 1,110 M
TREND SLOW WORTH Yen
9,636 M
STARTED 1923 EMPLOYES 415
COMMENT
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT
LIMIT: YEN 1,518.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
This is an
old-established trading house founded on the basis of the merger of 5 local
dye-trading houses, as Osaka Godo Co Ltd.
In Jul 1991 renamed as captioned.
Specializes in import, export and wholesale of industrial chemicals,
such as pigments, dyestuff, paints, resins, pharmaceutical ingredients, food
additives, and others. The firm operates
6 core business divisions: color & fine chemicals, paper & pulps,
chemicals, plastics, electronic materials, and R&D divisions (See OPERATION
for details & products). Top-ranked
in dyestuffs & pigments. Goods are
imported from and exported to
Brief history: Jun
1958, founded Daiwa Chemical Ind (mfr of textile chemicals & industrial
chemicals; Mar 1963, capital participation in Nitto Plastics Co (synthetic
resign molding); Apr 1987, founded Suzukawa Chemical Ind (mfr of industrial
chemicals); Dec 1971, founded Toa Kasei Co (mfr of industrial chemicals); Jul
1980, founded OG Chemical Ind (mfr of industrial chemicals); Sept 1982, moved
the head office to the caption address; Aug 1983, opened Osakagodo America Inc;
Sept 1985, capital participation in Yamago Kasei Ind (synthetic resin molding);
Oct 1990, founded ICG Co Ltd (import/export of chemical products); Jul 1991,
renamed as captioned; Sept 1995, founded FO Tec Co (mfr of industrial
chemicals); Oct 1995, founded OG Asia (Taiwan) Corp (import/export of chemical
products); Dec 1995, founded Qingdao OG Plastic Products Co (mfr of synthetic
resin products); Apr 1996, founded OG Wakayama Co (wholesale of chemicals); Oct
1997, capital participation in Daido Sangyo Co (wholesale of chemicals); Dec
1997, founded Shanghai OG Trading Co (import/export of chemical products); Apr
1999, founded NOAC Co Ltd (design/plan/development of computer software); Apr
2002, founded OG Film Co (film mfr, product processing & sales); Oct 2002,
founded Shanghai OG T&D Techno Co (laboratory center, mfr of dyestuff &
dyeing auxiliaries); Aug 2003, capital participation in Ike Trading Co.
FINANCIAL INFORMATION
The sales volume for
Mar/2010 fiscal term amounted to Yen 110,154 million, a 7% down from Yen
118,298 million in the previous term, as affected substantially by the global
economic downturn. Exports were hurt by
the high Yen. The recurring profit was
posted at Yen 600 million and the net profit at Yen 318 million, respectively,
compared with Yen 591 million and Yen 47 million net profit, respectively, a
year ago.
For the current term
ending Mar 2011 the recurring profit is projected at Yen 630 million and the
net profit at Yen 320 million, on a 9% rise in turnover, to Yen 120,000
million. Demand for industrial chemicals
will continue rising from auto & electronics industries.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,518.2
million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 1923
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 60 million shares
Issued: 15 million shares
Sum: Yen
1,110 million
Major shareholders (%): Company’s Treasury Stock (22.3), Employees’
S/Holding Assn (6.5), Mizuho Bank (3.6)), MUFG (3.6), SMBC (3.6), Ikeda
Fukusuke KK (3.3)
No. of shareholders: 378
Nothing detrimental
is known as to the commercial morality of executives.
Related companies:
(Domestic): Daiwa Chemical Ind, Yamago Kasei Ind, OG Chemical Ind, Toa Kasei Co,
Suzukawa Chemical Ind, Nitto Plastics Co, OG Wakayama Co, Daido Sangyo Co, FO
TEC Co, OG Film Co, other (Tot 12);
(Overseas): Osakagodo America Inc, OG Asia (Taiwan) Corp, Qingdao OG Plastic
Products, ICG Co (Hong Kong), Shanghai OG Trading Co, Ike Trading Co (USA), Shanghai OG T&D Techno Co,
Osakagodo Korea Corp (Tot 8).
OPERATION
Activities: A trading house for import, export and wholesale of dyestuffs,
pigments, tex-tile chemicals, industrial & fine chemicals, paints, raw resins,
and their finished products, pharmaceutical ingredients, reprographic
materials, food additives, other industrial chemicals (--99.7%), office
building management, leasing, etc (--0.3%).
Overseas trading
ratio 13% covering Asia,
BUSINESS DIVISIONS (major handling products):
Color & fine chemicals: Dyestuffs, Pigments, Textile auxiliaries,
Antibacterial agent, Germicide, Flame retardant, Non-woven fabric, CCM,
Colorimeters, Automatic color matching devices, Raw material for medicine and
agricultural chemicals, Organic intermediates and Fragrant materials.
Paper & pulps: All sorts of chemicals used in every
process of paper mfg, non-wood pulp, such as kenaf & bamboo, used paper
recycling
Chemicals: Organic chemicals, Industrial chemicals, Inorganic chemicals, Acrylic
resins, Epoxy resins and basic ingredients of the following items- Paint/Ink,
Electronic components, Urethane and other resins, Transport equipment
accessories, Synthetic leathers, Surfactants, Food related materials, Building
materials, Acrylic resins and Epoxy resins.
Plastic: Raw resins, resin additives, films, sheets, laminated manufactured
products, injection-molded parts, extrusion-molded parts, blow-molded parts,
packaging-related machines, bolding-related machines
Electronic Materials: Color filters, Pigment dispersing agents,
Overcoat materials, Anti-reflection materials, Toner binder resins, Charge
control agents, Ink, Image receiving sheets, Dyestuffs, Pigments, Base film
sheets, Insulation sheets, Electrode materials, Resist solvents, Sensitizers,
Near-infrared ray absorbents, Ultraviolet absorbents
R&D Division (projects):
Specialty chemicals, pharmaceuticals,
Clients: [Chemical mfrs, wholesalers, specialty traders] Ikeuchi Veneer,
Dainippon Ink & Chemicals, JSR, OG
Wakayama, OG Taiwan, Nippon Paper Ind, Dynic Corp, JSR Micro Kyushu, Fukusuke
Kogyo, Teijin Ltd, other
No. of accounts:
2,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsui & Co,
Dainippon Ink & Chemicals, Apollo Invest-ment, Toa Gosei, Mitsubishi Gas
Chemicals, Nissan Chemical Ind, Mitsui Chemical, Clariant Japan, Sanyo Chemical
Ind, Nippon Kayaku, Tokushiki Co, Daiwa Chemical Ind, other.
Payment record: Regular
Location: Business
area in
Bank References:
Mizuho
Bank (Minamisemba)
MUFG
(Semba-Chuo)
Relations:
Satisfactory.
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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120,000 |
110,154 |
118,298 |
132,460 |
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Recur.
Profit |
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630 |
600 |
591 |
1,115 |
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Net
Profit |
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320 |
318 |
47 |
351 |
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Total
Assets |
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59,571 |
52,695 |
62,449 |
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Current
Assets |
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43,643 |
38,636 |
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Current
Liabs |
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41,914 |
35,727 |
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Net
Worth |
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9,636 |
8,720 |
9,719 |
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Capital,
Paid-Up |
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1,110 |
1,110 |
1,110 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
8.94 |
-6.88 |
-10.69 |
3.21 |
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Current Ratio |
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.. |
104.13 |
108.14 |
.. |
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N.Worth Ratio |
.. |
16.18 |
16.55 |
15.56 |
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R.Profit/Sales |
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0.53 |
0.54 |
0.50 |
0.84 |
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N.Profit/Sales |
0.27 |
0.29 |
0.04 |
0.26 |
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Return On Equity |
.. |
3.30 |
0.54 |
3.61 |
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Notes:
Forecast figures for the 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.96 |
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1 |
Rs.73.37 |
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Euro |
1 |
Rs.62.33 |
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 |
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.