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Report Date : |
24.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
Sort Co Ltd |
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Registered Office : |
1-31-42 Tukushino Machida Tokyo-Metrop
194-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
April, 1991 |
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Com. Reg. No.: |
0200-01-002155 (Tokyo-Machida) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Industrial Chemicals. |
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No. of Employees : |
6 |
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 |
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|
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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
|
Country Name |
Previous Rating (31.03.2011) |
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 small agricultural sector is highly subsidized and protected, with
crop yields among the highest in the world. While self-sufficient in rice
production, Japan imports about 60% of its food on a caloric basis. 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. Modest economic growth continued after 2000, but the
economy has fallen into recession three times since 2008. A sharp downturn in
business investment and global demand for Japan's exports in late 2008 pushed
Japan 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 and the ensuing tsunami in March disrupted
manufacturing. The economy has largely recovered in the two years since the
disaster, but reconstruction in the Tohoku region has been uneven.
Newly-elected Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has pledged to reconsider his predecessor's plan
to permanently close nuclear power plants and is pursuing an economic
revitalization agenda of fiscal stimulus and regulatory reform and has said he
will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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
SORT
CO LTD
REGD NAME: KK
Sort
MAIN OFFICE: 1-31-42
Tukushino Machida Tokyo-Metrop 194-0001 JAPAN
Tel: 045-982-0180 Fax: 045-982-0377
E-Mail Address: taro@kksort.com
Import,
wholesale of industrial chemicals
Yokohama
(Subcontracted
– Taiwan, China, other)
REIKO TANABE,
PRES
Masataka
Tanabe, rep dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,421 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 10 M
TREND STEADY WORTH Yen
168 M
STARTED 1991 EMPLOYES 6
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The
subject company was established jointly by H Yamashita (former vice- minister
of International Trade & Commerce) and Tohru Seya (then consultant of
JETRO) in order to make most of their experiences and networks in the subject
line of business. And has been transferred to the present executives. Newly
organized, the firm started on business succession from Johnson Chemical of
urethane-based chemicals. This is a family-based trading firm specializing in
import and wholesale of industrial chemicals: UV absorber (Eversorb), UV
stabilizer, urethane stabilizer, urethane adhesives, other. In May 1998,
started importing products from Shuang-Bang Industrial Corp. In Jan 2000, became sole import agent for
Shuang-Bang Industrial, and in May that year accepted their capital
participation, owning 15% of the subject share.
In addition to import business, the firm is engaged in consignment
production of the products to Taiwan & Chinese factories.
Financials are only partially
disclosed as from the Mar/2006 fiscal term.
The sales volume for Mar/2012 fiscal term amounted to Yen
1,421 million, a 13% up from Yen 1,254 million in the previous term. UV-related products (Eversorb) continued to
grow, according to the firm. Also OEM
production in Taiwan & China continued brisk, says the firm. The net profit was posted at Yen 62 million,
compared with Yen 52 million a year ago.
For the term that ended Mar 2013 the net profit was
projected at Yen 65 million, on a 3% rise in turnover, to Yen 1,460
million. Final results are yet to be
released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr
1991
Regd No.: 0200-01-002155
(Tokyo-Machida)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 800 shares
Issued: 200
shares
Sum: Yen
10 million
Major
shareholders (%): Masataka
Tanabe (32.5), Reiko Tanabe (27.5), Kumiko Sumiyoshi (25), Shuang-Bang
Industrial Corp (Taiwan) (15)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales
industrial chemicals: UV absorber (Eversorb), UV stabilizer, UV cure adhesives,
urethane stabilizer, urethane adhesives, plastics adhesives, other (--100%).
(Import
agent for): Shuang-Bang
Industrial Corp, Everlight Chemical (--Taiwan), other in China.
Clients:
[Mfrs, wholesalers] OG Corp, BASF Coatings Japan, Ricoh Co, Heisen Yoko Co,
T&K Toka Co, JSR, Meisei Co, Toyo Ink & Chemicals, Bridgestone Corp,
other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Shuang-Bang Industrial
Corp, Everlight chemicals (--Taiwan), Sanko Ink, Insight High Technology,
Koshin Chemical, other
Payment record: No Complaints
Location:
Business
area in Yokohama. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References:
Bank of
Yokohama (Nagatsuda)
SMBC
(Aobadai)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Annual
Sales |
|
1,460 |
1,421 |
1,254 |
1,078 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
65 |
64 |
52 |
44 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
168 |
124 |
88 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
2.00 |
2.00 |
2.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.74 |
13.32 |
16.33 |
23.34 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
4.45 |
4.50 |
4.15 |
4.08 |
|
Notes: Financials are only partially disclosed as from the
Mar/2006 fiscal term.
Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.