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Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
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Name : |
YOKOHAMA CHEMICALS CO LTD |
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Registered Office : |
YCC Takanawa Bldg, 2-21-43 Shiba Minatoku Tokyo 108-8388 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
January, 1947 |
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Com. Reg. No.: |
0104-01-030576 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale of paints & coatings; import, export of industrial chemicals, machinery |
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No. of Employees : |
44 |
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 : |
No Complaints |
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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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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.
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Source : CIA |
YOKOHAMA CHEMICALS CO LTD
Yokohama Kasei KK
YCC Takanawa Bldg,
2-21-43 Shiba Minatoku Tokyo 108-8388 JAPAN
Tel:
03-3451-7771 Fax: 03-3451-7773
*.. Moved to the
caption address in 2011 from the former as given
*.. Registered at:
5-31-16 Shiba Minatoku Tokyo
URL: http://www.yokohamakasei.com
E-Mail address: ycc@yokohamakasei.com
Wholesale of
paints & coatings; import, export of industrial chemicals, machinery
Osaka (as given),
Chiba, Shizuoka
Beijing, Shenzhen
(China)
SHIN’ICHIRO OZAWA,
PRES Hidetaka Isono, dir
Kazukiyo Kasahara,
dir Masashi Inoue, dir
Morito Fujimoto,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,762 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
30 M
TREND STEADY WORTH Yen
982 M
STARTED 1947 EMPLOYES 44
TRADING FIRM SPECIALIZING IN PAINTS, COATINGS, INDUSTRIAL CHEMICALS,
MACHINERY, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
This is a trading firm originally started as a wholesaler of paints and coatings and later diversified into a trading firm handling industrial chemicals, as sole import agent for DSM Resins International BV, Netherlands for chemical products, such as additives, alkyd emulsion, and others. The subject firm wholesales paints & coatings, solvents, sealing agents, industrial machinery, chemicals, surfactant, other. Clients include electric appliances mfrs, heavy machinery mfrs, others, nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen 3,762 million, a 7% up from Yen 3,500 million in the previous term. Brisk exports into China contributed. The recurring profit, was posted at Yen 67 million and the net profit at Yen 17 million, respectively, compared with Yen 11 million recurring profit and Yen 9 million net profit, respectively, a year ago.
For the term that ended Mar 2013 the recurring profit was projected at Yen 70 million and the net profit at Yen 20 million, respectively, on a 4% rise in turnover, to Yen 3,900 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jan 1947
Regd No.:
0104-01-030576 (Tokyo-Minatoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2.4
million shares
Issued: 600,000 shares
Sum: Yen
30 million
Major shareholders
(%):
Shin’ichiro Ozawa (28), Teruko
Ozawa (22), Employees’ S/Holding Assn (17), Hajime Ozawa (8)
No.
of shareholders: 24
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales paints &
coatings, adhesives, sealing agents, adhesives, painting machinery &
equipment, others (--100%).
(Handling items):
Paints & Coatings: paints &
coatings for buildings, for industrial machinery, for plants, specialty paints,
heavy duty anti-corrosive paints, solvents, insulating paints, others;
Chemical
Products: adhesives, adhesive tapes, sealing agents, paint raw materials &
intermediates, aircraft parts, abrasives, others;
Machinery
& Equipment: painting machinery & tools, painting facilities, surface treatment
agents, pollution control equipment, others;
Imports/Exports
as Agent for DSM (Netherlands): Additives, powdered paints, synthetic
resins, alkyd emulsion, others.
Clients: [Mfrs, housing
ind, wholesalers] Mitsubishi Electric, Topre Corp, Toshiba Corp, Nitto Boseki
Corp, Daiwa House Inc, JFE Container, other.
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsubishi Corp, Tokyo Chemical, Toyota Tsusho Corp, Sumitomo 3M,
Nihon Tokushu Toryo, DIC, other.
Imports from DSM, Netherlands, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Mizuho Bank
(Shiba)
Resona Bank
(Tamachi)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/01/2011 |
31/01/2010 |
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Annual
Sales |
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3,900 |
3,762 |
3,500 |
3,344 |
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Recur.
Profit |
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70 |
67 |
11 |
3 |
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Net
Profit |
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20 |
17 |
9 |
-25 |
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Total
Assets |
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2,804 |
3,500 |
2,952 |
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Current
Assets |
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1,963 |
2,054 |
2,010 |
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Current
Liabs |
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1,257 |
1,327 |
1,189 |
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Net
Worth |
|
|
982 |
970 |
968 |
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Capital,
Paid-Up |
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|
30 |
30 |
30 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.67 |
7.49 |
4.67 |
-12.71 |
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Current Ratio |
|
.. |
156.17 |
154.79 |
169.05 |
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N.Worth Ratio |
.. |
35.02 |
27.71 |
32.79 |
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R.Profit/Sales |
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1.79 |
1.78 |
0.31 |
0.09 |
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N.Profit/Sales |
0.51 |
0.45 |
0.26 |
-0.75 |
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Return On Equity |
.. |
1.73 |
0.93 |
-2.58 |
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Notes: Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
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|
1 |
Rs.83.77 |
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Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.