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Report Date : |
09.07.2013 |
IDENTIFICATION DETAILS
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Name : |
SENSHO CHEMICAL CO LTD |
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Registered Office : |
9-2 Miyanishi Shinmei Uji City Kyoto-Pref 011- |
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Country : |
Japan |
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Financials (as on) : |
31.08.2012 |
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Date of Incorporation : |
April, 1982 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of specialty paints/ coatings |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
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 |
SENSHO CHEMICAL CO LTD
Sensho Kagaku KK
9-2 Miyanishi Shinmei Uji City Kyoto-Pref 011-0025 JAPAN
Tel: 0774-22-7146
*.. Registered at: 1-15-13 Biwadai Uji City Kyoto-Pref
URL: N/A
Mfg of specialty paints/ coatings
Nil
At the caption address
NOBORU AKIYAMA, PRES
Mitsue Akiyama, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen
494 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 10 M
TREND SLOW WORTH Yen 423 M
STARTED 1982 EMPLOYES 2
MFR OF SPECIALTY PAINTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Noboru Akiyama in order to make
most of his experience in the subject line of business. This is a family-based mfr specializing in
specific paints & coatings. Goods
are exported to India, China, Korea, Taiwan, UAE, Thailand, Turkey, other.
Financial are only partially disclosed as is the case with family-based
companies.
The sales volume for Aug/2012 fiscal term amounted to Yen 494 million, a
20% down from Yen 616 million in the previous term. The net profit was posted at Yen 16 million,
compared with Yen 48 million a year ago.
For the current term ending Aug 2013 the net profit is projected at Yen
20 million, on a 5% rise in turnover, to Yen 520 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr
1982
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 800
shares
Issued:
200 shares
Sum: Yen
10 million
Major shareholders
(%): Noboru Akiyama (75), and
families (25)
No. of
shareholders: 2
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures and
exports specialty paints & coatings (--100%)
Clients: [Mfrs,
wholesalers] Toray Advanced Film Co, Fujicopian Co, Oike & Co, San-I Co,
Cotec Co, I-Coating Co, other
Exports to India, China, UAE, Turkey, Korea, Taiwan, Thailand,
other
No. of accounts: 100
(Domestic only)
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hodogaya Chemical Co, Kinki Tar Seihin, Yamamoto Trading Co, Nikko
Kagaku Kenkyusho, Kobayashi Engineering Works, Nippon Polyurethane Ind, Japan
Adhesive Tape Ind, other
Payment record: No Complaints
Location: Business area in
Uji City. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Bank of Kyoto (Iseta)
Resona Bank (Isogo)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
|
31/08/2013 |
31/08/2012 |
31/08/2011 |
31/08/2010 |
|
Annual Sales |
|
520 |
494 |
616 |
590 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
20 |
16 |
48 |
53 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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|
423 |
407 |
359 |
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Capital, Paid-Up |
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|
10 |
10 |
10 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
5.26 |
-19.81 |
4.41 |
21.40 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
3.85 |
3.24 |
7.79 |
8.98 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/05/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.04 |
|
|
1 |
Rs.90.89 |
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Euro |
1 |
Rs.78.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
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 |
|
---- |
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.