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Report Date : |
02.02.2013 |
IDENTIFICATION DETAILS
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Name : |
DIVERSEY CO LTD |
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Registered Office : |
Yamashitacho SSK Bldg, 22 Yamashitacho Nakaku Yokohama 231-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
March 1995 |
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Com. Reg. No.: |
0100-01-149026 (Yokohama-Nakaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of cleaning waxes, detergents, cleaners for business-use |
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No. of Employees : |
500 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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 |
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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 tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. 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. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 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 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further 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 in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues 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
DIVERSEY CO LTD (Renamed in Jan 2013)
REGD NAME: Diversey
KK.
MAIN OFFICE: Yamashitacho
SSK Bldg, 22 Yamashitacho Nakaku Yokohama 231-0023 JAPAN
Tel:
045-640-2200 Fax: 045-640-2230
URL: http://www.diversey.co.jp
E-Mail address: (thru the URL)
Mfg of cleaning
waxes, detergents, cleaners for business-use
Tokyo, Osaka,
Sendai, Nagoya, Kyoto, Fukuoka, other (Tot 10)
Kakegawa
(Shizuoka)
TOSHIRO MIZUMI,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 28,890 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
490 M
TREND UP WORTH Yen 2,355 M
STARTED 1995 EMPLOYES 500
MFR OF CLEANING WAXES, DETERGENTS FOR BUSINESS-USE.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established originally in 1962 by Sealed Air Corp as Jonson Japan Inc for mfg
cleaning, sanitation & hygiene products and solutions to institutional
customers. In 1995 merged group firms and
restarted. In Oct 2012 Sealed Air Corp
sold the firm to Carlyle Group, and then the firm merged with the Group’s
subsidiary DC Corp. In Jan 2013 the firm
changed the corporate style to Limited Company from the Godo Kaisha (GK), and
renamed as captioned. This is a
specialized mfr of cleaning waxes, cleaners, detergents, others for
business-use. Clients include
supermarkets, carmakers, food stores, other, nationwide.
Financials are only
partially disclosed.
The sales volume for Dec/2011 fiscal term amounted
to Yen 28,890 million, a 3% up from Yen 28,000 million in the previous
term. The net profit was posted at Yen 1
million, compared with Yen 160 million a year ago.
For the term that ended
Dec 2012 the net profit was projected at Yen 180 million, on a 4% rise in
turnover, to Yen 30,000 million. Final
results are yet to be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar
1995
Regd No.:
0100-01-149026 (Yokohama-Nakaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 9,800 shares
Issued: 9,800 shares
Sum: Yen 490 million
Major shareholders (%): Carlyle Group
(100)
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Manufactures
cleaning, sanitation and hygiene products and solutions to institutional
customers: cleaning waxes, cleaners, detergents, others (--100%)
Clients: [Mfrs,
wholesalers, restaurants, hotels] Ito-Yokado, Toyota Motor, Seven & I Food
Systems, Skylark group, Lotteria Co, Hakuyosha Japan, other
No. of accounts:
400
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Solutia Japan, KF Trading, BASF Japan, Shoei Yakuhin Co, Toa Gosei
Co, other
Payment record: No Complaints
Location: Business area in
Yokohama. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Corporate
Bank (Yokohama)
SMBC (Marunouchi)
Relations:
Satisfactory
(In Million Yen)
|
|
|
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Annual
Sales |
|
30,000 |
28,890 |
28,000 |
29,500 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
180 |
1 |
160 |
165 |
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Total
Assets |
|
|
23,021 |
N/A |
N/A |
|
Net
Worth |
|
|
2,355 |
2,354 |
2,194 |
|
Capital,
Paid-Up |
|
|
490 |
490 |
490 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.84 |
3.18 |
-5.08 |
1.72 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
10.23 |
.. |
.. |
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N.Profit/Sales |
0.60 |
0.00 |
0.57 |
0.56 |
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Notes: Financials
are only partially disclosed. Dec/2009
& 2010 figures are estimated as not
precisely
disclosed.
Forecast (or
estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
<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.