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Report Date : |
26.10.2012 |
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 : |
Apr 1932 |
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Com. Reg. No.: |
0104-01-031626
(Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, export, wholesale of
steel materials, building materials, electronics |
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No. of Employees : |
112 |
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 : |
Regular |
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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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 REGULAR 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:
Regular
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)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
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Annual
Sales |
|
52,000 |
45,218 |
48,190 |
44,545 |
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Recur.
Profit |
|
300 |
258 |
318 |
249 |
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Net
Profit |
|
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 |
|
|
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 |
|
|
1,200 |
1,200 |
1,200 |
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Div.P.Share(¥) |
|
|
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 |
|
.. |
107.21 |
106.33 |
.. |
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N.Worth Ratio |
.. |
14.75 |
14.26 |
13.22 |
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R.Profit/Sales |
|
0.58 |
0.57 |
0.66 |
0.56 |
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N.Profit/Sales |
0.35 |
0.35 |
0.37 |
0.44 |
|
|
Return On Equity |
.. |
6.49 |
7.37 |
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.53.63 |
|
|
1 |
Rs.86.17 |
|
Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
-- |
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.