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Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
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Name : |
JAPAN ENVIROCHEMCIALS LIMITED |
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Registered Office : |
Dome City chemicals Bldg, 3-2-37 Chiyozaki Minami Nishiku Osaka
550-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
April 2003 |
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Com. Reg. No.: |
1200-01-103341
(Osaka-Nishiku) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Imports, exports and wholesales industrial chemicals: activated carbon, wood preservatives, |
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No. of Employees : |
150 |
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 |
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High |
B2 |
|
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 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
JAPAN ENVIROCHEMCIALS LTD
REGD NAME: Nippon
Envirochemicals KK
MAIN OFFICE: Dome
City chemicals Bldg, 3-2-37 Chiyozaki Minami Nishiku Osaka 550-0023
JAPAN
Tel:
06-4393-0091
Fax: 06-4393-0092
URL: http://www.jechem.co.jp
E-Mail
address: (thru the URL)
Import,
export, wholesale of chemicals
Tokyo
China
(sub-agent)
Osaka
(R/D Center)
MASATAKA
FUJIWARA, PRES
Kazuhiro
Yoneyama, s/mgn dir Satoshi Nakayasu,
dir
Tetsuya
Ueda, dir Masanobu Michi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 15,478 M
PAYMENTS REGULAR CAPITAL Yen
2,055 M
TREND UP WORTH Yen 10,346 M
STARTED 2003 EMPLOYES 150
TRADING FIRM SPECIALIZING IN INDUSTIRAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by originally in 1937 for selling activated carbon with
Takeda “Shirasagi” brand and was reorganized and incorporated in 2003 as
affiliated with Osaka Gas group. This is
a trading firm for import, export and wholesale of activated carbon, wood
preservatives, industrial chemicals, other.
Clients include industrial chemicals makers, wholesaler, other. In Aug 2012 the firm concluded
supply/distribution agreement for nitrogen carbon molecule sieves with Carbon
Tech AG GmbH, Germany.
The sales volume for Mar/2013 fiscal term amounted to Yen
15,478 million, a 13% up from Yen 13,749 million in the previous term. Sales rose as aided by the said sales
agreement with a Germany partner. The
recurring profit was posted at Yen 1,417 million and the net profit at Yen 908
million, respectively, compared with Yen 1,026 million recurring profit and Yen
631 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is
projected at Yen 1,500 million and the net profit at Yen 930 million,
respectively, on a 5% rise in turnover, to Yen 16,200 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr
2003
Regd No.: 1200-01-103341
(Osaka-Nishiku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 12,000 shares
Issued:
3,000 shares
Sum: Yen
2,055 million
Major shareholders (%): Osaka Gas Chemical Co Ltd* (70%), Osaka Gas Co Ltd (30)
No. of shareholders: 2
*.. Distribution of coax tar,
affiliated with Osaka Gas Co Ltd, Osaka, founded 1949, capital Yen 2,500
million, sales Yen 14,194 million, recurring profit Yen 217 million, net profit
Yen 69 million, employees 280, pres Masataka Fujiwara, concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales industrial
chemicals: activated carbon, wood preservatives, other (--100%)
Clients: [Mfrs, wholesalers] Japan Filter
Technology Co, Watanabe Chemical Co, Koyo Boeki Co, Shoei Yakuhin Co, Kiwa
Chemical Co, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Minabe Chemical
Ind, MC Ind Co, Davao Central Chemical Co, Century Chemicals, Aica Kogyo, other
Payment record: Regular
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References: SMBC (Tokyo)
Resona Bank
(Dojima)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
16,200 |
15,478 |
13,745 |
12,956 |
|
Recur.
Profit |
|
1,500 |
1,417 |
1,036 |
1,495 |
|
Net
Profit |
|
930 |
908 |
631 |
967 |
|
Total
Assets |
|
|
14,987 |
13,282 |
13,209 |
|
Current
Assets |
|
|
10,582 |
9,109 |
9,183 |
|
Current
Liabs |
|
|
3,530 |
2,629 |
3,106 |
|
Net
Worth |
|
|
10,346 |
9,308 |
8,508 |
|
Capital,
Paid-Up |
|
|
2,055 |
2,055 |
2,055 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.66 |
12.61 |
6.09 |
-1.68 |
|
|
Current Ratio |
|
.. |
299.77 |
346.48 |
295.65 |
|
N.Worth Ratio |
.. |
69.03 |
70.08 |
64.41 |
|
|
R.Profit/Sales |
|
9.26 |
9.15 |
7.54 |
11.54 |
|
N.Profit/Sales |
5.74 |
5.87 |
4.59 |
7.46 |
|
|
Return On Equity |
.. |
8.78 |
6.78 |
11.37 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 64.69 |
|
|
1 |
Rs. 100.80 |
|
Euro |
1 |
Rs. 86.30 |
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 |
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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 |
|
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.