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Report Date : |
08.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ASAHI KASEI CHEMICALS CORPORATION |
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Registered Office : |
Jimbocho Mitsui Bldg, 1-105 Kanda-Jimbocho Chiyodaku Tokyo 101-8101 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
November, 1972 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of
petrochemicals, industrial chemicals |
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No. of Employees : |
5,400 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
ASAHI
KASEI CHEMICALS CORPORATION
Asahi Kasei Chemicals KK
Jimbocho Mitsui Bldg,
1-105 Kanda-Jimbocho Chiyodaku Tokyo 101-8101 JAPAN
Tel:
033296-3200 Fax: 03-3296-3438
URL: http://www.asahi-kasei.co.jp/chemicals/
E-Mail
address: info@asahi-kasei.co.jp/chemicals
Mfg of
petrochemicals, industrial chemicals
Osaka,
Nagoya, Fukuoka
China,
Korea, Singapore, Indonesia, Europe, USA (--subsidiaries)
Mizushima,
Kawasaki, Nobeoka, Fuji, Moriyama, Shizuoka, Oita, Wakayama, Fukuoka, Chiba
MASAKI
SAKAMOTO, PRES Yuji Kobayashi, s/mgn
dir
Hajime Nagahara, mgn dir Yoshio Negishi, mgn dir
Tsuneo Takemoto, mgn dir Yukihiro Mori, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 547,382 M
PAYMENTSREGULAR CAPITAL Yen
3,000 M
TREND STEADY WORTH Yen 167,622 M
STARTED 1972 EMPLOYES 5,400
MFR OF INDUSTRIAL CHEMICALS, WHOLLY OWNED BY ASAHI KASEI
CORP
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established on the basis of 4 Asahi Kasei group firms
merging into one entity. The subject
specializes in mg petrochemicals, polymers, performance chemicals, other. This is actually mfg division of Asahi Kasei
Corp (See REGISTRATION). It expanded production capacity of
acrylonitril at Korean Plant in Jan 2012, and in Jun 2012 will built a new
factory in Singapore for production of chemicals for supply to automobile tire
industry.
The
sales volume for Mar/2012 fiscal term amounted to Yen 547,382 million, a 0.6%
up from Yen 541,666 million in the previous term. Market recovered. The recurring profit was posted at Yen 25,181
million and the net profit at Yen 10,821 million, respectively, compared with
Yen 34,737 million recurring profit and Yen 15,493 million net profit,
respectively, a year ago.
For
the current term ending Mar 2013 the recurring profit is projected at Yen
26,000 million and the net profit at Yen 11,000 million, respectively, on a 3%
rise in turnover, to Yen 563,000 million.
Newly expanded Korean plant and new plant in Singapore will
contribute. .
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Nov 1972
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued:
40,000 shares
Sum: Yen 3,000 million
Major shareholders (%): Asahi Kasei Corp* (100)
*.. Comprehensive
chemical firm engaged in diversified businesses of clothing, membranes and
housing, Tokyo, founded 1931, listed Tokyo, Osaka, Nagoya, Fukuoka &
Sapporo S/E’s, capital Yen 103,389 million, turnover Yen 1,573,230 million,
operating profit Yen 104,258 million, recurring profit Yen 107,567 million, net
profit Yen 55,766 million, total assets Yen 1,655,659 million, net worth Yen
693,934 million, employees 28,401, pres Taketsugu Fujiwara.
Nothing
detrimental is known as to the commercial morality of executives.
Activities:
Manufactures petrochemicals/industrial chemicals: monomers, organic &
inorganic chemicals, polyethylene, synthetic rubber & elastomers, polymers,
cleaners, packaging products, performance chemicals, systems & membranes,
other (--100%).
Clients:
[Mfrs, wholesalers] Mitsubishi Corp, Itochu Corp, Bridgestone Corp, Sekisui
Chemical Ind, Nippon Paper Group firms, other
No.
of accounts: 1,000
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Mitsubishi Corp, Sanyo Sekiyu Kagaku, JX Nippon Oil & Energy
Corp, other
Payment record: Regular
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(Tokyo)
Mizuho
Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
563,000 |
547,382 |
543,666 |
469,883 |
|
Recur.
Profit |
|
26,000 |
25,187 |
34,737 |
17,061 |
|
Net
Profit |
|
11,000 |
10,821 |
15,493 |
6,392 |
|
Total
Assets |
|
|
456,120 |
435,679 |
420,579 |
|
Current
Assets |
|
|
241,696 |
225,262 |
206,536 |
|
Current
Liabs |
|
|
225,369 |
188,730 |
186,966 |
|
Net
Worth |
|
|
167,622 |
175,517 |
165,969 |
|
Capital,
Paid-Up |
|
|
3,000 |
3,000 |
3,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.85 |
0.68 |
15.70 |
-19.39 |
|
|
Current Ratio |
|
.. |
107.24 |
119.36 |
110.47 |
|
N.Worth Ratio |
.. |
36.75 |
40.29 |
39.46 |
|
|
R.Profit/Sales |
|
4.62 |
4.60 |
6.39 |
3.63 |
|
N.Profit/Sales |
1.95 |
1.98 |
2.85 |
1.36 |
|
|
Return On Equity |
.. |
6.46 |
8.83 |
3.85 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
|
UK Pound |
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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 |
|
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 |
|
<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.