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Report Date : |
05.11.2012 |
IDENTIFICATION DETAILS
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Name : |
AKROS TRADING CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April 1932 |
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Com. Reg. No.: |
0104-01-031626 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of steel materials, building materials, electronics |
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No. of Employees : |
112 |
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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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
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 |
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
AKROS TRADING CO LTD
REGD NAME: KK
Akros Shoji
MAIN OFFICE: Shiba
Park Bldg 14F, 2-4-1 Shibakoen Minatoku Tokyo 105-8508 JAPAN
Tel: 03-5405-6000 Fax:
03-5405-6034
URL: http//:www.akros-trading.com
E-mail: (thru the URL)
Import, export,
wholesale of steel materials, building materials, electronics
Sapporo, Osaka,
Nagoya, Fukuoka, Oita, other (Tot 11)
Taiwan, Shanghai,
Hong Kong, Singapore, India, Korea
MAMORU HOSHI, PRES Fusaharu Honma, s/mgn dir
Takeshi Okada, mgn dir Shigeru Matsumoto, mgn dir
Shoji Okabe, mgn dir Hsu Tzyh Lih, mgn dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 45,218 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
1,200 M
TREND UP WORTH Yen 2,465 M
STARTED 1932 EMPLOYES 112
TRADING FIRM
SPECIALIZING IN CHEMICALS, STEEL MATERIALS, OTHER,
AFFILIATED WITH
DENKI KAGAKU KOGYO KK
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established
by a local entrepreneur in order to wholesale chemicals and steel products, names
as Hissan Trading Co Ltd. Incorporated
in 1932 and the firm became a subsidiary of Denki Kagaku Kogyo KK (See REGISTRATION). In Aug 2010, transferred the business
operations from a subsidiary, Aiko Chemical Co Ltd. In Oct 2012, merged with Rokko Shoji KK and
renamed as captioned. This is a trading
firm specializing in import, export and wholesale of industrial chemicals,
steel mfg materials, paper-related products, electronics, other. Has six overseas subsidiaries in Hong Kong,
Taiwan, Singapore, India, Korea and China.
The sales volume for Mar/2012 fiscal
term amounted to Yen 45,218 million, a 6% down from Yen 48,190 million in the
previous term. This is referred to the
high Yen, reducing export revenues & profits in Yen terms. The recurring profit was posted at Yen 258
million and the net profit at Yen 160 million, respectively, compared with Yen
318 million recurring profit and Yen 178 million net profit, respectively, a
year ago. .
For the current term ending Mar 2013 the
recurring profit is projected at Yen 300 million and the net profit at Yen 180
million, respectively, on a 15% rise in turnover, to Yen 52,000 million. The said merger will contribute to the sales
growth for the second half year.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr
1932
Regd No.:
0104-01-031626 (Tokyo-Minatoku)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 96 million shares
Issued: 24 million shares
Sum: Yen 1,200 million
Major
shareholders (%): Denki Kagaku Kogyo KK* (65.6), Japan Pulp & Paper (14.4), Mizuho
Corporate Bank (4.3)
No. of shareholders: 74
* Leading second-tier comprehensive chemical
mfr, Tokyo, founded 1915, listed Tokyo S/E, capital Yen 36,998 million, sales
Yen 364,712 million, operating profit Yen 20,713 million, recurring profit Yen
18,996 million, net profit Yen 11,330 million, total assets Yen 401,269
million, net worth Yen 168,857 million, employees 4,921, pres Shinsuke
Yoshitaka
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of:
Chemicals
& Plastics (25%): inorganic chemicals, solvents, monomers, adhesives,
synthetic resins, plastics, packaging materials, plastic films, plastic sheets;
Steel
& Iron Materials & Welding Materials (24%): ferroalloys,
stainless scraps, refractory metals, stainless steel plates, pipes, titanium,
welding materials, high-pressure gases, fire-proof cement, high-pressure gas
vessels, waste water disposal facilities;
Paper-Related
Products (13%): paper-related chemicals, silicon, adhesives, pulps, waste paper, other;
Building
Materials (11%): cement, admixtures, water-proof materials, construction & building
materials, water-proof works, floorings, others;
High-Functional Chemicals (18%): synthetic
rubber, conveyor belts, adhesives, sponge wet suits, cables, gloves, wipers,
air suspensions, car motor cycle parts, hoses, boots;
Electronics
Materials (9%): semiconductor related materials, LCD-related materials, photo-resist
materials, other.
Others
(3%)
Clients: [Mfrs,
wholesalers] Oji Paper Ind, Itochu Plastics, Denki Kagaku Kogyo, NEC Semiconductors
Kansai, Nippon Steel Sumikin Stainless Corp, Sanyo Chemical Ind, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Denki Kagaku Kogyo, BASF Catalysts LLC, Toagosei Co, Tokyo Ohka
Kogyo, Nippon Steel & Sumikin Welding Co, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Corporate
Bank (Uchisaiwaicho)
SMBC (Kyobashi)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
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52,000 |
45,218 |
48,190 |
44,545 |
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Recur.
Profit |
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300 |
258 |
318 |
249 |
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Net Profit |
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180 |
160 |
178 |
194 |
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Total
Assets |
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16,713 |
16,939 |
17,244 |
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Current
Assets |
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14,669 |
14,877 |
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Current
Liabs |
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13,683 |
13,992 |
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Net
Worth |
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2,465 |
2,416 |
2,279 |
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Capital,
Paid-Up |
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1,200 |
1,200 |
1,200 |
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Div.P.Share(¥) |
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3.00 |
3.00 |
3.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
15.00 |
-6.17 |
8.18 |
0.77 |
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Current Ratio |
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.. |
107.21 |
106.33 |
.. |
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N.Worth Ratio |
.. |
14.75 |
14.26 |
13.22 |
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R.Profit/Sales |
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0.58 |
0.57 |
0.66 |
0.56 |
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N.Profit/Sales |
0.35 |
0.35 |
0.37 |
0.44 |
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Return On Equity |
.. |
6.49 |
7.37 |
8.51 |
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Notes: Forecast (or
estimated) figures for the 31/03/2013 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.53.66 |
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1 |
Rs.86.37 |
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Euro |
1 |
Rs.69.24 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.