MIRA INFORM REPORT

Report Date :

31.10.2012

IDENTIFICATION DETAILS

Name :	NAGASE-OG COLORS & CHEMICALS CO., LTD
Registered Office :	1-1-17 Shinmachi, Osaka, 550-8668
Country :	Japan
Date of Incorporation :	Not Available
Com. Reg. No.:	Not Available
Legal Form :	Private Subsidiary Company
Line of Business :	Wholesalers of Chemical Products
No. of Employees :	130 employees

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 30^th, 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

Company name & address

NAGASE-OG COLORS & CHEMICALS CO., LTD.

1-1-17 Shinmachi

Osaka, 550-8668

Japan

Tel: 81-6-6535-2200

Fax: 81-6-6535-2215

Synthesis

Employees: 130

Company Type: Private Subsidiary

Corporate Family: 64 Companies

Ultimate Parent: NAGASE & CO., LTD.

Reporting Currency: US Dollar

Annual Sales: NA

Total Assets: NA

Business Description

Chemical Products Wholesaler

Industry

Industry Chemical Manufacturing

ANZSIC 2006: 3323 - Industrial and Agricultural Chemical Product Wholesaling

NACE 2002: 5155 - Wholesale of chemical products

NAICS 2002: 424690 - Other Chemical and Allied Products Merchant Wholesalers

UK SIC 2003: 5155 - Wholesale of chemical products

UK SIC 2007: 4675 - Wholesale of chemical products

US SIC 1987: 5169 - Chemicals and Allied Products, Not Elsewhere Classified

Key Executives

Name Title

Kanji Takahashi Manager-Sales

1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1

2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1

Corporate Overview

Location

1-1-17 Shinmachi

Osaka, 550-8668

Japan

Tel: 81-6-6535-2200

Fax: 81-6-6535-2215

Web: www.nagase.co.jp

Sales USD(mil): NA

Assets USD(mil): NA

Employees: 130

Industry: Chemical Manufacturing

Company Type: Private Subsidiary

Quoted Status: Not Quoted

Manager-Sales : Kanji Takahashi

Contents

Industry Codes

Business Description

Industry Codes

ANZSIC 2006 Codes:

3323 - Industrial and Agricultural Chemical Product Wholesaling

NACE 2002 Codes:

5155 - Wholesale of chemical products

NAICS 2002 Codes:

424690 - Other Chemical and Allied Products Merchant Wholesalers

US SIC 1987:

5169 - Chemicals and Allied Products, Not Elsewhere Classified

UK SIC 2003:

5155 - Wholesale of chemical products

UK SIC 2007:

4675 - Wholesale of chemical products

Business Description

Chemical Products Wholesaler

Corporate Family	Corporate Structure News:
	NAGASE & CO., LTD. NAGASE-OG COLORS & CHEMICALS CO., LTD.
NAGASE-OG COLORS & CHEMICALS CO., LTD. Total Corporate Family Members: 64

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
NAGASE & CO., LTD.	Parent	Tokyo	Japan	Chemical Manufacturing	8,002.1	5,545
Katolec (Thailand) Co., Ltd.	Subsidiary	Ayutthaya, Amphur Nakornluang	Thailand	Electronic Instruments and Controls	1.0	2,600
Hayashibara Co Ltd	Subsidiary	Okayama-Shi	Japan	Biotechnology and Drugs	250.1	618
Taiyo Shokusan K. K.	Subsidiary	Okayama	Japan	Construction Services	1.0
Totaku Industries, Inc.	Subsidiary	Osaka	Japan	Fabricated Plastic and Rubber	73.4	270
Pac Tech-Packaging Technologies GmbH	Subsidiary	Nauen, Brandenburg	Germany	Containers and Packaging	19.9	150
Nagase Singapore (Pte) Ltd.	Subsidiary	Singapore	Singapore	Fabricated Plastic and Rubber	248.5	130
NAGASE-OG COLORS & CHEMICALS CO., LTD.	Subsidiary	Osaka	Japan	Chemical Manufacturing		130
Hoei Sangyo Co., Ltd.	Subsidiary	Tokyo	Japan	Computer Hardware	92.3	125
Nagase (Thailand) Co., Ltd.	Subsidiary	Bangkok	Thailand	Chemical Manufacturing		120
Shanghai Nagase Trading Co., Ltd.	Subsidiary	Shanghai	China	Chemicals - Plastics and Rubber	1.0	100
Guangzhou Nagase Trading Ltd.	Subsidiary	Guangzhou	China	Chemical Manufacturing		100
Nagase Plastics Co., Ltd.	Subsidiary	Osaka	Japan	Fabricated Plastic and Rubber	343.7	99
Nagase Wahlee Plastics Corp.	Subsidiary	Taipei City, Taipei	Taiwan	Fabricated Plastic and Rubber		74
Nagase Techno-Engineering Co., Ltd	Subsidiary	Osaka	Japan	Semiconductors		70
Nagase (Taiwan) Co., Ltd.	Subsidiary	Taipei	Taiwan	Electronic Instruments and Controls		60
Nagase (Hong Kong) Ltd.	Subsidiary	Kowloon	Hong Kong	Chemical Manufacturing	1.0	50
Nagase (Malaysia) Sdn Bhd	Subsidiary	Kuala Lumpur	Malaysia	Chemical Manufacturing		50
Canada Mold Technology, Inc.	Subsidiary	Woodstock, ON	Canada	Fabricated Plastic and Rubber		50
Sofix Corp.	Subsidiary	Chattanooga, TN	United States	Chemical Manufacturing	18.5	40
Nagase General Service Co., Ltd	Subsidiary	Tokyo	Japan	Real Estate Operations		40
Nagase Philippines International Services Corp	Subsidiary	Makati	Philippines	Chemical Manufacturing		38
Nagase Philippines International Services Corproration	Subsidiary	Binan, Laguna	Philippines	Chemical Manufacturing		38
Nishinihon Nagase Co., Ltd.	Subsidiary	Fukuoka	Japan	Chemical Manufacturing	65.7	30
Nagase California Corporation	Subsidiary	Santa Clara, CA	United States	Electronic Instruments and Controls	5.0	30
P.T. Nagase Impor-Ekspor Indonesia	Subsidiary	Jakarta	Indonesia	Chemical Manufacturing		25
Nagase (Europa) GmbH	Subsidiary	Düsseldorf, Nordrhein-Westfalen	Germany	Chemical Manufacturing	159.5	22
Nagase Finechem Singapore (Pte) Ltd.	Subsidiary	Singapore	Singapore	Chemical Manufacturing		22
Nagase Sanbio Co., Ltd.	Subsidiary	Osaka	Japan	Chemical Manufacturing	53.4	20
Nagase America Corporation	Subsidiary	New York, NY	United States	Chemical Manufacturing	14.2	20
Nagase India Private Ltd.	Subsidiary	Mumbai, Maharashtra	India	Chemical Manufacturing		20
Xiamen Nagase Trading Co., Ltd.	Subsidiary	Xiamen, Fujian	China	Chemical Manufacturing		20
Nagase Korea Corporation	Subsidiary	Seoul	Korea, Republic of	Chemicals - Plastics and Rubber	9.4	16
Nagase Business Management and Planning (Shanghai) Co., Ltd.	Subsidiary	Shanghai	China	Business Services		13
Nagase Philippines Corp	Subsidiary	Salcedo Village, Makati , Metro Manila	Philippines	Chemical Manufacturing	7.6	8
Nagase Engineering Service Korea Co.,Ltd	Subsidiary	Anyang, Kyongki-do	Korea, Republic of	Business Services		8
Shanghai Kincho Chemical Industry Co., Ltd.	Subsidiary	Shanghai	China	Chemical Manufacturing		7
Nagase International Electronics Limited	Subsidiary	Tsim Sha Tsui, Kowloon	Hong Kong	Electronic Instruments and Controls	16.8	6
Nagase Enterprise Mexico S.A.de C.V.	Subsidiary	Mexico	Mexico	Construction Services		4
Nagase Chemtex Corporation	Subsidiary	Osaka, Osaka	Japan	Chemical Manufacturing	251.8
Nagase Chemical Co., Ltd	Subsidiary	Tokyo	Japan	Chemical Manufacturing	170.5
Nagase Elex Co., Ltd.	Subsidiary	Tokyo	Japan	Chemical Manufacturing	82.7
Nagase Beauty Care Co., Ltd.	Subsidiary	Tokyo	Japan	Personal and Household Products	65.7
Nagase Abrasive Materials Co., Ltd.	Subsidiary	Osaka	Japan	Miscellaneous Capital Goods	43.0
Pac Tech Asia Sdn. Bhd.	Subsidiary	Bayan Lepas, Penang	Malaysia	Electronic Instruments and Controls
Yuki Saisei co., ltd.	Subsidiary	Iwata, Shizuoka	Japan	Chemical Manufacturing
Kawai Hiryo Corporation	Subsidiary	Iwata, Shizuoka	Japan	Chemical Manufacturing
Nagase Logistics Co., Ltd.	Subsidiary	Amagasaki, Hyogo	Japan	Business Services
Nagase Chemspec Co., Ltd.	Subsidiary	Tokyo	Japan	Chemical Manufacturing
Nagase CMS Technology (Shanghai) Co., Ltd.	Subsidiary	Shanghai	China	Business Services
Nagase Precision Plastics Shanghai Co., Ltd.	Subsidiary	Shanghai	China	Construction - Supplies and Fixtures
Nagase Information Development, Ltd	Subsidiary	Tokyo	Japan	Software and Programming
CAPTEX Co., Ltd.	Subsidiary	Nagoya, Aichi	Japan	Electronic Instruments and Controls
iGENE Therapeutics, Inc.	Subsidiary	Tokyo	Japan	Biotechnology and Drugs
Kotobuki Kasei Corp.	Subsidiary	Kanuma, Tochigi	Japan	Construction - Supplies and Fixtures
Aikawa Kogyo Co., Ltd.	Subsidiary	Tokyo	Japan	Chemical Manufacturing
Nagase Filters Co., Ltd	Subsidiary	Higashi-osaka, Osaka	Japan	Construction - Supplies and Fixtures
Nagase Trade Management Co., Ltd.	Subsidiary	Tokyo	Japan	Business Services
Totaku Industries Suzhou Co., Ltd	Subsidiary	Suzhou	China	Construction - Supplies and Fixtures
Tianjin Nagase International Trading Co., Ltd.	Subsidiary	Tianjin	China	Chemical Manufacturing
Nagase Kisho Electronics Inc.	Subsidiary	Sunnyvale, CA	United States	Electronic Instruments and Controls
Nagase Medicals Co., Ltd.	Subsidiary	Itami, Hyogo	Japan	Biotechnology and Drugs
Setsunan Kasei Co., Ltd.	Subsidiary	Izumi, Osaka	Japan	Fabricated Plastic and Rubber
NW Consultant Service (Shenzhen) Ltd.	Subsidiary	Shenzhen	China	Business Services

Executive report

Executives

Name	Title	Function
Kanji Takahashi	Manager-Sales	Sales Executive

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.17
UK Pound	1	Rs.86.83
Euro	1	Rs.69.85

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%)

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