MIRA INFORM REPORT

 

 

Report Date :

29.11.2012

 

IDENTIFICATION DETAILS

 

Name :

TOKYO ZAIRYO CO LTD

 

 

Registered Office :

Shin-Marunouchi Center Bldg 12F, 1-6-2 Marunouchi Chiyodaku Tokyo 100-0005

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

December, 1947

 

 

Reg. No.:

9100-01-092757

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Trading Firm Specializing in Synthetic Rubber & Chemicals.

 

 

No. of Employees :

130

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

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

 

TOKYO ZAIRYO CO LTD

 

 

REGD NAME 

 

Tokyo Zairyo KK

 

 

MAIN OFFICE

 

Shin-Marunouchi Center Bldg 12F, 1-6-2 Marunouchi Chiyodaku Tokyo 100-0005, JAPAN

Tel: 03-5219-2171      Fax: 03-5219-2201

 

URL:                             http://www.tokyozairyo.co.jp

E-Mail address:            (thru the URL)

 

 

ACTIVITIES  

 

Import, export, wholesale of synthetic rubber, plastics, chemical products

 

 

BRANCHES

 

Osaka, Nagoya, Okayama

 

 

OVERSEAS

 

USA, Vietnam, Thailand, Indonesia, Singapore, India, China (4)

 

 

OFFICERS

 

SHUICHI KAKINUMA, PRES      Seibun Itoh, mgn dir

Kenji Sasaki, mgn dir                 Noriaki Wakamatsu, mgn dir

Takanori Sakurai, dir                                         

           

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 83,104 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 227 M

TREND             STEADY                       WORTH            Yen 7,453 M

STARTED         1947                             EMPLOYES      130

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN SYNTHETIC RUBBER & CHEMICALS.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

The subject company was established as Rubber materials Co Ltd, and in 1949 changed the name as captioned.  In 1959, started to handle domestic synthetic rubber made by Nippon Zeon.  This is a trading firm specializing in import, export and wholesale of synthetic rubber, plastics, chemicals, other.  Has business tie-up with Lanxess Germany in rubber chemicals.  Operates overseas offices in USA, Vietnam, India, Indonesia, Singapore, China, Thailand, other.

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2012 fiscal term amounted to Yen 83,104 million, a 1% down from Yen 83,974 million in the previous term.  The recurring profit was posted at Yen 1,617 million and the net profit at Yen 984 million, respectively, compared with Yen 1,320 million recurring profit and yen 754 million net profit, respectively, a year ago.

 

For the current term ending Mar 2013 the recurring profit is projected at Yen 1,650 million and the net profit at Yen 995 million, respectively, on a 2% rise in turnover, to Yen 84,700 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 1,556.2 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:          Dec 1947

Regd No.:                                 9100-01-092757 (Tokyo-Chiyodaku)

Legal Status:               Limited Company (Kabushiki Kaisha)

Authorized:                  16 million shares

Issued:                          4.55 million shares

Sum:                            Yen 227 million

Major shareholders (%):           Zeon Corp* (41.3), Zeon Kasei Co (34.1)

No. of shareholders:                82

 

*.. Mfr of specialty synthetic rubber, Tokyo, founded 1950, listed Tokyo S/E, capital Yen  24,211 million, sales Yen 262,842 million, operating profit Yen 32,123 million, recurring profit Yen 31,487 million, recurring profit Yen 31,487 million, net profit Yen 19,127 million, total assets Yen 121,320 million net worth Yen 134,824 million, employees 2,920, pres Naozumi Furukawa

 

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

 

 

OPERATION

           

Activities:                     Import, export and wholesale of synthetic rubber (40%), chemicals (25%), carbon black (15%), synthetic resin (17%), others (3%).

 

(Handling Items):

Rubber:                        synthetic rubber, synthetic latex, compound rubber products, reclaimed rubber;

Plastics:                       plastic commonly used, engineering plastics, plastic additives;

Thermo Plastic Elastomers): olefin type, styrene type;

Chemicals:                   rubber chemicals, carbon black, mold releases, others

 

Clients:                        [Mfrs, wholesalers] Zeon Corp, Yokohama Rubber Co, Toyoda Gosei Co, NOK, Tokai Rubber Ind, Sumitomo Rubber Ind, other 

No. of accounts: 300

Domestic areas of activities: Nationwide

Suppliers:                    [Mfrs, wholesalers] Zeon Corp, Dow Chemical Japan Ltd, DuPont Elastomers, Optes Inc, Tokai Carbon Co, Zeon Polymix Inc, DIC Corp, other

 

Payment record:          No Complaints

 

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

 

Bank References:

MUFG (Shimbashi)

Mizuho Bank (Ginzadori)

Relations: Satisfactory

 

 

 

 

 

 

 

 

 

 

 

 

FINANCES

 

 (In Million Yen)

       Terms Ending:

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

　

84,700

83,104

83,974

69,027

Recur. Profit

　

1,650

1,617

1,320

872

Net Profit

　

995

984

754

485

Total Assets

　

　

31,928

28,821

28,151

Current Assets

　

　

29,638

26,710

　

Current Liabs

　

　

23,231

21,941

　

Net Worth

　

　

7,453

6,365

5,696

Capital, Paid-Up

　

　

227

227

227

Div.P.Share(¥)

　

　

5.00

5.00

5.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

1.92

-1.04

21.65

-11.89

    Current Ratio

 

..

127.58

121.74

..

    N.Worth Ratio

..

23.34

22.08

20.23

    R.Profit/Sales

 

1.95

1.95

1.57

1.26

    N.Profit/Sales

1.17

1.18

0.90

0.70

    Return On Equity

..

13.20

11.85

8.51

 

Notes: Forecast (or estimated) figures for the 31/03/2013 fiscal term.

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.89.34

Euro

1

Rs.72.35

 

 

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

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.