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Report Date : |
11.12.2012 |
IDENTIFICATION DETAILS
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Name : |
kenko corporation |
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Registered Office : |
Mizushima Bldg 3F, 3-2-11 Uchikanda Chiyodaku Tokyo 101-0047 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
December 1965 |
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Com. Reg. No.: |
(Tokyo-Chiyodaku)
094552 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale
of industrial chemicals |
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No. of Employees : |
54 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 a technologically 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. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. For three decades, overall real economic growth had been spectacular - 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 after effects of inefficient investment 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. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further into recession. 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 in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
|
Source : CIA |
Company name and address
KENKO CORPORATION
REGD NAME: KK
Kenko Tsusho
MAIN OFFICE: Mizushima
Bldg 3F, 3-2-11 Uchikanda Chiyodaku Tokyo 101-0047 JAPAN
Tel:
03-3258-8061 Fax: 03-3258-8060
Head Office: Iwamotu-Cho Toyo Building 4th Floor 3-1-2 Iwamoto-Cho, Chiyoda-Ku, Tokyo
101-0032, Japan
E-Mail address: contact@kenkoco.com
Import, export,
wholesale of industrial chemicals
Osaka, Nagoya
Beijing, Shanghai, Mumbai, Moscow, Korea, Germany, Cairo (Affiliates): Soft Gel Technologies Inc (USA); Chemco Industries Inc (USA, with branches in New York, Los Angeles, Fresco, Utah); Ski Plastic Co (China);
Kenko-Balley Enterprises (Shenzhen) Ltd (China); Kenko Holding Co Inc (USA)
SATOMI TSUCHIBE,
PRES & CEO Yasushi Nakai,
s/mgn dir
Masahiro Sasaki,
mgn dir Tateo
Kurusu, mgn dir
Yoshifumi Bohno, dir Shunji Ohtaki, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 13,524 M
PAYMENTS REGULAR CAPITAL Yen 195 M
TREND SLOW WORTH Yen
1,214 M
STARTED 1965 EMPLOYES 54
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Satomi Tsuchibe in order to make most of his experience in the subject line of business. This is a trading house for import, export and wholesale of food additives, synthetic dyestuffs, organic pigments, fertilizing chemicals, seeds and other industrial chemicals. The firm has 6 divisions: Health-care Div; Food Additive Div; Fine Chemicals Div; Feed Additive Div; Agricultural Div; Mfg/R&D Div. Strong business ties with domestic major chemical firms, such as Nisshin Pharma Inc, a major mfr of chemicals, and Chisso Corp, a leading mfr of fine chemicals, both having shares in the subject. Actively engaged in overseas operations with offices in Beijing, Shanghai, Mumbai, Moscow and Cairo. Also overseas affiliates: USA (4), China (5), Germany (1).
The sales volume for Mar/2011 fiscal term amounted to Yen 13,524 million, a 9% down from Yen 12,373 million in the previous term, as substantially affected by the global economic downturn. Imports/exports revenues were hurt by the high Yen, reducing considerably in Yen terms. The operations plunged into the red to post Yen 998 million net losses for the term, compared with Yen 160 million recurring profit and Yen 82 million net profit, respectively, a year ago.
For the current term ending Mar 2012 the recurring profit is projected at Yen 260 million and the net profit at Yen 100 million, respectively, on a 5% rise in turnover, to Yen 14,200 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec
1965
Regd No.:
(Tokyo-Chiyodaku) 094552
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.3 million shares
Issued:
390,500 shares
Sum: Yen 195.25 million
Major
shareholders (%): Satomi Tsuchibe (31.0)), Yoko Tsuchibe (7.3), Chisso Corp (2.5),
Nisshin Pharma
(2.5), MJ Investment Fund (2.0)
No. of shareholders: 45
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading house for import, export
and wholesale of industrial chemicals (--100%):
(Handling items by Divisions):
Fine Chemicals Div: aliphatic organic
chemicals, aromatic organic chemicals, oil & fats, plastic additives, industrial additives, natural
chemicals, rare earth chemicals, drug & pharmaceutical intermediates,
materials for electronics industries;
Feed Additives Div: chlorine chloride,
DI-Methionine, calcium L-acerbate, vitamin AD3, amino acid, minerals;
Fertilizer Div: seaweed origin fertilizer, soil conditioner,
fermented soil, perennial rye grass, tall fescue, zoysia Japonica, turf-grass
mixture;
Health-care Div: plant extract, powder & liquid;
Food Additives Div: guar gum, ascorbic
acid, monosodium glutamate, sorbet, other;
Agriculture Div: Exclusive agent for Seed Research of Oregon
Inc, USA.
Export Agent for: Nisshin Pharma for exporting
their principal product, Co-enzyme Q10 mainly to US market;
Chisso Corporation for exporting
their fine & organic chemicals mainly to US &
European markets.
Clients: [Chemical mfrs, wholesalers] BASF Japan,
Soft Gel Technology, Fujikawa Pharmaceutical, Sakata Seeds, Ashland Chemical,
Chemco Ind, Nippon Kayaku Co, Maruzen Yuka Shoji, Shiratori Pharmaceutical,
Tokiwa Photochemical Co, other. Exports
to USA, Europe, Russia, China, India, etc.
No. of accounts:
2,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kaneka Corp,
Mitsubishi Corp, Nisshin Pharma, Chisso Corp, Ube Ind, Mitsui Chemical, Tokiwa
Photochemical, other.
Imports from Seed Research of Oregon Inc
(USA), other from USA, Europe, Asia, etc.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Nihombashi)
MUFG (Kanda-Ekimae)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
|
|
Annual
Sales |
|
14,200 |
13,524 |
12,373 |
15,330 |
|
Recur.
Profit |
|
260 |
252 |
160 |
218 |
|
Net
Profit |
|
100 |
-998 |
82 |
91 |
|
Total
Assets |
|
|
6,547 |
9,118 |
9,390 |
|
Current
Assets |
|
|
4,329 |
6,567 |
8,758 |
|
Current
Liabs |
|
|
4,879 |
6,072 |
6,159 |
|
Net
Worth |
|
|
1,214 |
2,167 |
2,088 |
|
Capital,
Paid-Up |
|
|
195 |
195 |
195 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.00 |
9.30 |
-19.29 |
19.77 |
|
|
Current Ratio |
.. |
88.73 |
108.15 |
142.20 |
|
|
N.Worth Ratio |
.. |
18.54 |
23.77 |
22.24 |
|
|
R.Profit/Sales |
1.83 |
1.86 |
1.29 |
1.42 |
|
|
N.Profit/Sales |
0.70 |
-7.38 |
0.66 |
0.59 |
|
|
Return On Equity |
.. |
-82.21 |
3.78 |
4.36 |
|
Notes: Forecast (or
estimated) for the 31/03/2012 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
UK Pound |
1 |
Rs.87.89 |
|
Euro |
1 |
Rs.70.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.