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Report Date : |
30.12.2013 |
IDENTIFICATION DETAILS
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Name : |
ASAHI KASEI CHEMICALS CORPORATION |
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Registered Office : |
Jimbocho Mitsui Bldg, 1-105 Kanda-Jimbocho Chiyodaku |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
November
1972 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of petrochemicals/industrial chemicals including
monomers, organic & inorganic chemicals, polyethylene, synthetic resins,
synthetic rubber & elastomers, polymers, cleaners, packaging products,
performance chemicals, systems & membranes, pharmaceuticals & food
additives, explosives, plastic films, storage bags |
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No. of Employees : |
5,400 |
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 : |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 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 |
ASAHI KASEI CHEMICALS CORPORATION
Asahi Kasei Chemicals
KK
Jimbocho Mitsui
Bldg, 1-105 Kanda-Jimbocho Chiyodaku Tokyo 101-8101 JAPAN
Tel:
03-3296-3200 Fax: 03-3296-3438
URL: http://www.asahi-kasei.co.jp/chemicals/
E-Mail address: info@asahi-kasei.co.jp/chemicals
Mfg of
petrochemicals, industrial chemicals
Osaka,
Nagoya, Fukuoka
China, Korea, Singapore, Indonesia, Europe, USA (--subsidiaries)
Mizushima,
Kawasaki, Nobeoka, Fuji, Moriyama, Shizuoka, Oita,
Wakayama, Fukuoka, Chiba; China
YUJI
KOBAYASHI, PRES Yoshio Negishi, dir
Tsuneo
Takemoto, dir Katsuhiko
Yamasoe, dir
kihiro Mori, dir Mutsuo Narita,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 552,198 M
PAYMENTS REGULAR CAPITAL Yen 3,000 M
TREND STEADY WORTH Yen 173,021 M
STARTED 1972 EMPLOYES 5,400
MFR OF INDUSTRIAL CHEMICALS, WHOLLY OWNED BY ASAHI KASEI
CORP
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of 4 Asahi Kasei group
firms merging into one entity. The
subject specializes in mg petrochemicals, polymers, performance chemicals,
other. This is actually mfg division of
Asahi Kasei Corp (See REGISTRATION). It expanded production capacity of
acrylonitril at Korean Plant in Jan 2012, and in Jun 2012 will built a new
factory in Singapore for production of chemicals for supply to automobile tire
industry.
The sales volume for Mar/2013 fiscal term amounted to Yen 552,198 million,
a 0.8% up from Yen 547,382 million in the previous term. Exports were active. The recurring profit was posted at Yen 10,227
million and the net profit at Yen 6,121 million, respectively, compared with
Yen 25,187 million recurring profit and Yen 10,821 million net profit,
respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 11,000 million and the net profit at Yen 6,200 million, respectively, on
a 5% rise in turnover, to Yen 579,000 million.
.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Nov
1972
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
160,000 shares
Issued: 40,000 shares
Sum: Yen 3,000 million
Major shareholders
(%): Asahi Kasei Corp* (100)
*.. Comprehensive chemical firm engaged in diversified businesses of
clothing, membranes and housing, Tokyo, founded 1931, listed Tokyo, Nagoya,
Fukuoka & Sapporo S/E’s, capital Yen 103,389 million, turnover Yen
1,666,640 million, operating profit Yen 91,960 million, recurring profit Yen
95,125 million, net profit Yen 53,712 million, total assets Yen 1,841,946
million, net worth Yen 841,089 million, employees 28,987, pres Taketsugu
Fujiwara.
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
petrochemicals/industrial chemicals: monomers, organic & inorganic
chemicals, polyethylene, synthetic resins, synthetic rubber & elastomers,
polymers, cleaners, packaging products, performance chemicals, systems &
membranes, pharmaceuticals & food additives, explosives, plastic films,
storage bags, other (--100%).
Clients: [Mfrs, wholesalers]
Mitsubishi Corp, Itochu Corp, Bridgestone Corp, Sekisui Chemical Ind, Nippon
Paper Group firms, other
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsubishi Corp, Sanyo Sekiyu Kagaku, JX Nippon Oil & Energy
Corp, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
SMBC (Tokyo)
Mizuho Bank (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
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Annual
Sales |
|
579,000 |
552,198 |
547,382 |
543,666 |
|
Recur.
Profit |
|
11,000 |
10,227 |
25,187 |
34,737 |
|
Net
Profit |
|
6,200 |
6,121 |
10,821 |
15,493 |
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Total
Assets |
|
|
498,949 |
456,120 |
435,679 |
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Current
Assets |
|
|
278,600 |
242,696 |
225,262 |
|
Current
Liabs |
|
|
263,330 |
225,369 |
188,730 |
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Net
Worth |
|
|
173,021 |
167,622 |
175,517 |
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Capital,
Paid-Up |
|
|
3,000 |
3,000 |
3,000 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.85 |
0.88 |
0.68 |
15.70 |
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Current Ratio |
|
.. |
105.80 |
107.69 |
119.36 |
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N.Worth Ratio |
.. |
34.68 |
36.75 |
40.29 |
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R.Profit/Sales |
|
1.90 |
1.85 |
4.60 |
6.39 |
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N.Profit/Sales |
1.07 |
1.11 |
1.98 |
2.85 |
|
|
Return On Equity |
.. |
3.54 |
6.46 |
8.83 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.06 |
|
UK Pound |
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
|
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.