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Report Date : |
17.08.2013 |
IDENTIFICATION DETAILS
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Name : |
KUSUMOTO CHEMICALS LTD |
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Registered Office : |
Kusumoto No. 18 Bldg, 1-2-7 Uchikanda
Chiyodaku Tokyo 101-0047 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
June 1972 |
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Com. Reg. No.: |
0100-01-015054
(Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of
industrial chemicals, synthetic resins. |
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|
No. of Employees : |
250 |
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 |
|
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 |
|
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
KUSUMOTO CHEMICALS LTD
REGD NAME: Kusumoto
Kasei KK
MAIN OFFICE: Kusumoto
No. 18 Bldg, 1-2-7 Uchikanda Chiyodaku Tokyo 101-0047 JAPAN
Tel:
03-3292-8681 Fax: 03-3291-6780
*.. The is its
registered address, and the Headquarters are
located at the caption
address
URL: http://www.kusumoto.co.jp
E-Mail
address: (thru the URL)
Import,
wholesale of industrial chemicals, synthetic resins
Osaka,
Nagoya, Sapporo, Fukuoka, Akita
China,
Thailand, Malaysia, Indonesia, Philippines
Koshigaya,
Soka, Kashima (--Processing)
KEITA
KUSUMOTO, PRES Hiroji Kusumoto, ch
Yutaka
Oyama, mgn dir Shingo
Ishikawa, dir
Manami
Kusumoto, dir
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 20,732 M
PAYMENTSREGULAR CAPITAL Yen
450 M
TREND SLOW WORTH Yen 8,575 M
STARTED 1972 EMPLOYES 250
TRADING FIRM SPECIALIZING IN
INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1926 by
Jiroh Kusumoto for importing industrial chemicals, on his account. In 1948 started mfg paint additives. Incorporated in 1972 the firm has been
succeeded by his descendants. This is a
trading firm, with mfg/processing division, for import and wholesale of
industrial chemicals, additives, other.
It has three business units: chemicals, additives and BTAC
(environmental test chamber). Goods are
imported from USA, Spain, Netherlands, other.
Clients include major paint mfrs, other.
The sales volume for Dec/2012 fiscal term amounted to Yen
20,732 million, a 3% down from Yen 21,283 million in the previous term. High Yen eroded earnings and profits in Yen
terms. The net profit was posted at Yen
424 million, compared with Yen 339 million a year ago.
For the current term ending Dec 2013 the net profit is projected at Yen 450 million, on a recurring 5% rise in turnover, to Yen 21,700 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Jun 1972
Regd No.: 0100-01-015054 (Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 3.6 million shares
Issued:
900,000 shares
Sum: Yen
450 million
Major shareholders (%): Kusumoto KK* (100)
*..
Holding company owned by the Kusumoto family.
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales
industrial chemicals, additives, other (--100%)
(Handling items):
Chemicals Unit: synthetic, plastic molding resins,
plasticizers, organic & inorganic extender pigments. Glass fibers,
non-woven cloth, Butyral resin, PET films, metal surface treating agents, water
treatment chemicals, rust preventives, solvents, metal containers, metal soaps,
hardening agents, UV absorbents, sepiolite, silicone products, binder for
paste, meso-porous silica, LED related products, other;
Additives Unit: thyrotrophic agents, dispersants,
anti-foaming agents, anti-popping agents, anti-catering agents, leveling
agents, electrostatic assistants, powder, non-VOC and UV hardening systems,
other.
Clients: [Mfrs, wholesalers] TDK, Kansai Paint
Co, Nippon Paint Co, Atomix Co, Origin Electric Co, King, JFE Kozai Co, Mac
Systems, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] DIC, Daiwa Co,
BASF Japan, Teijin DuPont Films Japan,
Ube Ind, Owens Corning Japan,
Itochu Chemical Frontier, Toyotsu Chemiplas Co, other.
Imports from King Industries Inc
(USA), Tolsa SA (Spain), DSM Neo Resins (Netherlands), other.
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References: SMBC
(Kanda)
MUFG (Kanda)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual
Sales |
|
21,700 |
20,732 |
21,283 |
22,249 |
|
Recur.
Profit |
|
|
|
377 |
714 |
|
Net
Profit |
|
450 |
424 |
339 |
528 |
|
Total
Assets |
|
|
19,077 |
19,030 |
20,109 |
|
Current
Assets |
|
|
13,522 |
13,339 |
14,283 |
|
Current
Liabs |
|
|
8,215 |
8,432 |
9,808 |
|
Net
Worth |
|
|
8,575 |
8,196 |
7,902 |
|
Capital,
Paid-Up |
|
|
450 |
450 |
450 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.67 |
-2.59 |
-4.34 |
16.10 |
|
|
Current Ratio |
|
.. |
164.60 |
158.19 |
145.63 |
|
N.Worth Ratio |
.. |
44.95 |
43.07 |
39.30 |
|
|
R.Profit/Sales |
|
.. |
.. |
1.77 |
3.21 |
|
N.Profit/Sales |
2.07 |
2.05 |
1.59 |
2.37 |
|
|
Return On Equity |
.. |
4.94 |
4.14 |
6.68 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.82 |
|
|
1 |
Rs. 96.57 |
|
Euro |
1 |
Rs. 82.45 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.