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Report Date : |
04.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SHIRAISHI CALCIUM KAISHA LTD |
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Registered Office : |
2-10-5 Doshin Kitaku Osaka 530-0035 |
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Country : |
Japan |
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Financial as on: |
31.03.2012 |
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Date of Incorporation : |
November, 1937 |
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Reg. No.: |
w200-01-059647 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of industrial chemicals |
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No. of Employees : |
194 |
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 : |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 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.
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Source : CIA |
SHIRAISHI CALCIUM KAISHA LTD
Shiraishi Calcium KK
2-10-5 Doshin Kitaku Osaka 530-0035 JAPAN
Tel: 06-6358-1181 Fax:
06-5358-9036
URL: http://www.shiraishi.co.jp/
E-Mail address: international@shiraishi.co.jp
Import, export, wholesale of industrial chemicals
Tokyo, Sapporo, Sendai, Shizuoka, Nagoya, Hiroshima, Kumamoto
13 overseas affiliates & group companies in: China (4), Korea, Thailand,
Malaysia, Singapore, Taiwan, Hong Kong, Philippines, Vietnam, Indonesia, and
India
(Sales agents): covering 58 countries worldwide
TSUNEHIRO SHIRAISHI, PRES Noriaki
Kitagawa, s/mgn dir
Isao Nojima, s/mgn dir Takeshi
Tanaka, mgn dir
Toshiya Itoh, mgn dir Masaoki
Nambara, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 64,312 M
PAYMENTS REGULAR CAPITAL Yen
231 M
TREND STEADY WORTH Yen
10,655 M
STARTED 1937 EMPLOYES 194
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR TO GOOD AND RESPONSIBLE FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established as a trading division by Shiraishi Kogyo
KK (see REGISTRATION), in order to export calcium carbonate, manufactured by
the parent, for supply to rubber industries.
The firm has since expanded handling items for supply to such industries
as: rubber, plastics, sealants & adhesives, paper, paints & coatings,
industrial textiles, food & pharmaceuticals, agriculture &
stockbreeding, with recent expansion into optical lenses and cosmetic
industries. Calcium carbonate &
carbon black are major items. Present
executives are the founder’s descendants.
Operations cover 58 countries worldwide through 10 overseas affiliates
and group firms in China, Singapore, Thailand, other.
The sales volume for Mar/2012 fiscal term amounted to Yen 64,312
million, a 3% down from Yen 66,217 million in the previous term. High Yen hurt export revenues in Yen
terms The recurring profit was posted at
Yen 574 million and the net profit at Yen 772 million, respectively, compared
with Yen 767 million recurring profit and Yen 322 million net profit,
respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 600 million and the net profit at Yen 800 million, respectively, on a 3%
rise in turnover, to Yen 66,200 million.
Sales of functional materials & base chemicals will grow, fueled by
brisk demand in China.
The financial situation is considered FAIR to GOOD and responsible for
ORDINARY business engagements.
Date Registered: Nov 1937
Regd No.: w200-01-059647 (Osaka-Kitaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 18.48 million shares
Issued: 4.62 million shares
Sum: Yen
231 million
Major shareholders (%): Shiraishi Kogyo Kaisha Ltd*(88.2)
No. of shareholders: 57
*.. Mfr of calcium carbonate, Hyogo-Pref, founded 1919, capital Yen 550
million, turnover Yen 15,030 million, net profit Yen 201 million, employees
161, pres Tsunehiro Shiraishi, concurrently.
Nothing detrimental is known as to the commercial morality of
executives.
Activities: A trading house for import, export and wholesale of calcium
carbonate (16%), reinforcing
agents & fillers (22%), synthetic rubber & resin (30%), rubber
chemicals & plastic additives
(15%), food additives, agriculture & livestock breeding materials (7%),
industrial textile materials,
others (10%), covering 58 countries worldwide.
(Import 50%, export 50%)
Clients: [Mfrs, wholesalers] Oji Paper, Daio
Paper, Chuetsu Pulp & Paper, Toyoda Gosei, Hoya Corp, Tokai Rubber Ind,
Hokuetsu Kishu Paper, Elastomix Co, Toray Dow Corning, Asahi Carbon, Tajima
Inc, other
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Tosoh Corp,
Asahi Carbon, Shiraishi Kogyo KK, Tokuyama Corp, Bihoku Funka Kogyo, JSR, Tosoh
Corp, Elastomix, Shipro Kasei, Ohmi Chemical Ind,
other
Payment record: Regular
Location: Business area in Osaka.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
Mizuho Bank (Namba)
MUFG (Umeda)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
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Annual Sales |
|
66,200 |
64,312 |
66,217 |
60,838 |
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Recur. Profit |
|
600 |
574 |
767 |
604 |
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Net Profit |
|
800 |
772 |
322 |
323 |
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Total Assets |
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29,249 |
27,187 |
27,221 |
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Current Assets |
|
|
24,879 |
21,711 |
21,680 |
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Current Liabs |
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|
17,718 |
15,058 |
14,934 |
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Net Worth |
|
|
10,655 |
10,167 |
9,971 |
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Capital, Paid-Up |
|
|
231 |
231 |
231 |
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Div.P.Share(¥) |
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|
15.00 |
15.00 |
15.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.94 |
-2.88 |
8.84 |
-9.52 |
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Current Ratio |
|
.. |
140.42 |
144.18 |
145.17 |
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N.Worth Ratio |
.. |
36.43 |
37.40 |
36.63 |
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R.Profit/Sales |
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0.91 |
0.89 |
1.16 |
0.99 |
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N.Profit/Sales |
1.21 |
1.20 |
0.49 |
0.53 |
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Return On Equity |
.. |
7.25 |
3.17 |
3.24 |
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Notes: Forecast (or estimated) for the 31/03/2013 fiscal term
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.56.57 |
|
|
1 |
Rs.86.15 |
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Euro |
1 |
Rs.73.64 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.