|
Report Date : |
17.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
DAINIKKA CO LTD |
|
|
|
|
Registered Office : |
1-9-5 Hatchobori Chuoku Tokyo 104-0032 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
December 1967 |
|
|
|
|
Com. Reg. No.: |
0100-01-049774
(Tokyo-Bunkyoku) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, export, wholesale of paints/coatings, industrial
chemicals, painting works |
|
|
|
|
No. of Employees : |
153 employees |
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 (31.03.2012) |
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 |
DAINIKKA CO LTD
Dainikka KK
1-9-5 Hatchobori
Chuoku Tokyo 104-0032 JAPAN
Tel: 03-3552-3151 Fax: 03-3297-0672
*.. The is its Sasebo Branch Office
URL: http://www.dainikka.co.jp
E-Mail address: mntmaster@star.dainikka.com
Import,
export, wholesale of paints/coatings, industrial chemicals, painting works
Tokyo,
Osaka, Kobe, Nagoya, Fukuoka, other (Tot 36)
China
MASAO
YOKOCHI, PRES Kazutoyo Kanamaru, v
pres
Naoyuki
Shimada, mgn dir Mikio Hara, dir
Hiroyuki
Kuwata, dir Shoji Okabe,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 20,759 M
PAYMENTS No Complaints CAPITAL Yen
657.4 M
TREND SLOW WORTH Yen 6,998 M
STARTED 1967 EMPLOYES 153
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Haruo Yokochi in order to make most o his experience in the subject line of business. Masao is his son. This is a trading firm specializing in import, export and wholesale of industrial chemicals: paints/coatings, other, also offering painting works. Goods are exported. Clients include heavy machinery mfrs, chemical makers, other, nationwide. Goods are distributed nationwide thru 36 branch offices.
The sales volume for Mar/2012 fiscal term amounted to Yen 20,759 million, a 3% up from Yen 20,127 million in the previous term. The recurring profit was posted at Yen 787 million and the net profit at Yen 381 million, respectively, compared with Yen 508 million recurring profit and Yen 617 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 800 million and the net profit at Yen 400 million, respectively, on a 4% rise in turnover, to Yen 20,500 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1967
Regd No.: 0100-01-049774 (Tokyo-Bunkyoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
6.5 million shares
Issued:
1,634,500 shares
Sum: Yen 657.4 million
Major shareholders (%): Haruo Yokochi (60.3), Dai
Nippon Toryo Co Ltd (13.2), Masao Yokochi (8.5), MUFG (5), SMBC (4.7)
No. of shareholders: 27
Nothing
detrimental is known as to the commercial morality of executives.
Activities: This is a trading firm for import, export and wholesale of industrial chemicals: paints & coatings (65%), painting works (21%), industrial chemicals (resins, pigments, solvents, plasticizers, other) (7%), office interiors (5%), others (2%).
Clients: [Mfrs, wholesalers] Toray ACE, Kawasaki Heavy Ind, Mitsubishi Heavy Ind, Komatsu Wall Ind, KCM, Sekisui Corp, SK Kaken Co, NHK Spring Co, Fuji Corp, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Dai Nippon Toryo Hambai, Dai Nippon Toryo Co, SK Kaken Co, AGC Polymer Material Co, Sunday Paint, Ohtsuka Brush Mfg Co, Kikusui Chemical Ind, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
(Shintomicho)
SMBC
(Koishikawa)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
21,500 |
20,759 |
20,127 |
20,477 |
|
Recur.
Profit |
|
800 |
787 |
508 |
611 |
|
Net
Profit |
|
400 |
381 |
617 |
319 |
|
Total
Assets |
|
|
15,779 |
13,816 |
13,360 |
|
Current
Assets |
|
|
11,557 |
9,471 |
8,653 |
|
Current
Liabs |
|
|
8,201 |
6,624 |
6,501 |
|
Net
Worth |
|
|
6,998 |
6,594 |
5,975 |
|
Capital,
Paid-Up |
|
|
657 |
657 |
657 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.57 |
3.14 |
-1.71 |
-17.30 |
|
|
Current Ratio |
|
.. |
140.92 |
142.98 |
133.10 |
|
N.Worth Ratio |
.. |
44.35 |
47.73 |
44.72 |
|
|
R.Profit/Sales |
|
3.72 |
3.79 |
2.52 |
2.98 |
|
N.Profit/Sales |
1.86 |
1.84 |
3.07 |
1.56 |
|
|
Return On Equity |
.. |
5.44 |
9.36 |
5.34 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.82 |
|
UK Pound |
1 |
Rs.84.96 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.