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Report Date : |
09.08.2013 |
IDENTIFICATION DETAILS
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Name : |
KOKUSAI PULP & PAPER CO LTD |
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Registered Office : |
16-24 Akashicho Chuoku Tokyo 104-0044 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
Dec 1924 |
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Com. Reg. No.: |
0100-01-048806 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports, exports and
wholesales pulp & paper, paper products |
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No. of Employees : |
971 |
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 – March 31st,
2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
KOKUSAI PULP & PAPER CO LTD
Kokusai Kami Pulp
Shoji KK
16-24 Akashicho Chuoku
Tokyo 104-0044 JAPAN
Tel:
03-3542-4111 Fax: 03-3542-4282
E-Mail
address: (thru the URL)
Import,
export, wholesale of pulps & paper, paper products
Osaka,
Nagoya, Kyoto, Sendai, Sapporo, Fukuoka
USA
(2), China (3), Korea, Brazil, Indonesia, Vietnam, Australia (2),
Singapore
(8), India (4), other (Tot 23)
MADOKA
TANABE, PRES Yasuo Akamatsu, ch
Munetaka
Hioki, s/mgn dir Akira Imahori, s/mgn
dir
Masahiro
Takada, mgn dir Masahiro Kakitsu,
mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 327,512 M
PAYMENTSREGULAR CAPITAL Yen
3,442 M
TREND SLOW WORTH Yen 34,132 M
STARTED 1924 EMPLOYES 971
TRADING FIRM SPECIALIZING IN PULP & PAPER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established in 1924 as KK Daido Yoshiten,
and in 1999 merged with Nichia Corp and renamed as captioned. This is a trading firm specializing in
import, export and wholesale of pulp & paper, paper products, others (See OPERATION). In Jan 2013 merged with Sumisho Pulp &
Paper Shoji KK. Major clients are Oji
Paper and Nippon Paper Co. Clients
include government agencies, newspaper publishing companies, publishers,
printing houses, other.
The sales volume for Mar/2013 fiscal term amounted to Yen
327,512 million, a 4% down from Yen 340,503 million in the previous term. Exports were hurt by the high Yen, decreasing
revenues and profits in Yen terms.
Exports to China decreased. The
recurring profit was posted at Yen 2,147 million and the net profit at Yen 5
million, respectively, compared with Yen 2,152 million recurring profit and Yen
1,368 million net profit, respectively, a year ago. The net profit decrease for the term is
referred to the extraordinary losses of Yen 5,049 million coming from the loss
in securities sales.
For the current term ending Mar 2014 the recurring profit is
projected at Yen 2,700 million and the net profit at Yen 1,700 million,
respectively, on a 15% rise in turnover, to Yen 376,000 million. The said merger will contribute for the full
term.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1924
Regd No.: 0100-01-048806
(Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 180 million shares
Issued:
67.02 million shares
Sum: Yen
3,442 million
Major shareholders
(%): Oji Paper (19.5), Nippon Paper (9.2), Mizuho Corporate Bank
(4.3), MUFG (4.0), SMBC (4.0), Norin Chukin Bank (4.0), others
No. of shareholders: 1,021
Nothing
detrimental is known as to the commercial morality of executives.
Group & subsidiary companies: Daiei Papers International
Corp, Daido Kami Hambai Corp, Narumiya Kami Shoji KK, other
Activities: Imports, exports and wholesales pulp
& paper, paper products (--100%)
(Handling products): paper, paperboard, pulp, used
paper, carbonless paper, thermal paper, tuck paper, plastic, crossing, aluminum
foil, cellophane, wrapping materials, machinery, office supplies, industrial
medicine, daily necessities & miscellaneous goods, others
Clients: [Government Agencies, newspaper
offices, publishers, printing houses, wholesalers, business firms] Toppan
Printing, Toppan Forms, Dainippon Printing, Sony Chemical & Information
Device, Japan Consumers’ Coops, Shueisha, Angel Playing Card Mfg, Shogakukan,
other.
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Oji Paper, Nippon
paper, Hokuetsu Kishu Paper, Chuetsu Pulp & Paper, Oji Specialty Paper Co,
Oji Paperboard Co, Nippon Daishowa Paperboard Co, Oji Tac Co, Marubeni Corp,
other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho
Corporate Bank (H/O)
MUFG
(Kyobashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
376,000 |
327,512 |
340,503 |
351,981 |
|
Recur.
Profit |
|
2,900 |
2,147 |
2,152 |
2,456 |
|
Net
Profit |
|
1,700 |
5 |
1,368 |
763 |
|
Total
Assets |
|
|
176,125 |
177,659 |
172,378 |
|
Current
Assets |
|
|
112,063 |
110,550 |
130,052 |
|
Current
Liabs |
|
|
14,947 |
16,101 |
123,136 |
|
Net
Worth |
|
|
34,132 |
30,574 |
29,343 |
|
Capital,
Paid-Up |
|
|
3,442 |
3,442 |
3,442 |
|
Div.P.Share(¥) |
|
|
6.00 |
6.00 |
6.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
14.80 |
-3.82 |
-3.26 |
-1.20 |
|
|
Current Ratio |
|
.. |
749.74 |
686.60 |
105.62 |
|
N.Worth Ratio |
.. |
19.38 |
17.21 |
17.02 |
|
|
R.Profit/Sales |
|
0.77 |
0.66 |
0.63 |
0.70 |
|
N.Profit/Sales |
0.45 |
0.00 |
0.40 |
0.22 |
|
|
Return On Equity |
.. |
0.01 |
4.47 |
2.60 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
UK Pound |
1 |
Rs.94.77 |
|
Euro |
1 |
Rs.81.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.