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Report Date : |
05.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SUMITOMO SHOJI CHEMICALS CO LTD |
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Registered Office : |
Harumi Island Triton Square Office Tower Z 23/24 F’s,
1-8-12 Harumi Chuoku |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
February 1998 |
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Com. Reg. No.: |
0100-01-020579 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of plastics, industrial chemicals. |
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No. of Employees : |
258 |
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 : |
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 |
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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
SUMITOMO SHOJI CHEMICALS CO LTD
REGD NAME: Sumitomo
Shoji Chemical KK
MAIN OFFICE: Harumi
Island Triton Square Office Tower Z 23/24 F’s, 1-8-12 Harumi Chuoku Tokyo
104-0053 JAPAN
Tel:
03-5166-9300 Fax: 03-5166-9303
URL: http://www.sc-chem.co.jp/
E-Mail address: info@sc-chem.co.jp
Import, export,
wholesale of plastics, industrial chemicals
Osaka, Nagoya
YOSHITO HORIUCHI,
PRES Yukinobu Yokoo, dir
Kenji Shima, dir Tatsuya Katsurada, dir
Hiroshi Hanano,
dir Shunsaku Maekawa,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 147,945 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
900 M
TREND SLOW WORTH Yen
7,655 M
STARTED 1998 EMPLOYES 258
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS, WHOLLY OWNED BY
SUMITOMO CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject
company was established on the basis of Chemical Business Unit Plastic Division
separated from Sumitomo Corp (see REGISTRATION),
named Sumitomo Shoji Plastics Co Ltd, dealing mainly in construction materials,
industrial & wrapping materials. In
Jul 2004 acquired Organic Chemicals Division from a sister company, Sumitomo
Shoji Chemicals Co Ltd, handling functional chemical products. In Oct 2005, merged with Sumitomo Shoji
Chemicals Co Ltd and Sumitomo Chemicals & Plastics Nagoya Co Ltd, with
Sumitomo Shoji Plastics Co Ltd as a surviving entity and then renamed as
captioned. This is a specialized trader
for import, export and wholesale of plastics and chemicals (see OPERATION). The merger was conducted in order to
integrate and streamline chemicals & plastics operations of the Sumitomo
Group.
The sales volume for Mar/2012 fiscal term
amounted to Yen 147,945 million, a 7% down from Yen 159,673 million in the
previous term. This is referred to the high
Yen, decreasing export revenues and profits in Yen terms. The recurring profit was posted at Yen 2,987
million and the net profit at Yen 1,467 million, respectively, compared with
Yen 2,505 million recurring profit and Yen 1,385 million net profit, respectively,
a year ago.
For the term that ended
Mar 2013 the recurring profit was projected at Yen 2,500 million and the net
profit at Yen 1,600 million, respectively, on a 5% rise in turnover, to Yen
155,000 million. Final results are yet
to be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Feb
1998
Regd No.:
0100-01-020579 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 36,000 shares
Issued: 9,000 shares
Sum: Yen 900 million
Major shareholders (%): Sumitomo
Corp*(100)
*.. One of leading general trading houses,
nucleus of Sumitomo group, founded 1919, listed Tokyo, Osaka, Nagoya, Fukuoka S/E’s,
capital Yen 219,279 million, turnover Yen 7,502,724
million, operating profit Yen 162,451 million, recurring profit Yen 243,695
million, net profit Yen 243,695 million, total assets Yen 7,832,757 million,
net worth Yen 2,175,882 million, employees 71,087, pres Kuniharu Nakamura
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Import, export, wholesale of plastics
& industrial chemicals:
(Sales
Breakdown by Divisions):
Plastic
Division (48%): resin materials & subsidiary materials, plastic film/sheet molding,
FRP products, packaging materials, agricultural materials, plastic processing
machinery, metal molds, other;
Organic
Chemicals Division (16%): aromatics & organic solvents, industrial
organic chemicals, resin/rubber materials & fibers, coat chemical products,
organic halides, resin additives, catalytic agents;
Functional
Chemicals Division (36%): fine chemicals, polyurethane raw materials, epoxy
resin, food chemicals, health foods, base materials for cosmetics, dye, textile
chemicals, cosmetic & toiletry materials, fine chemical products, inorganic
chemicals, resource products, other;
Import/Export
(36%)
Clients: [Mfrs,
wholesalers] Sumitomo Corp, Sumitomo Corp (Hong Kong), Lilycolor Co, Sumitomo Electric Ind, Sumitomo Chemical,
Interflex, Dainippon Ink & Chemicals,
Samsung Japan, Mitsubishi Electric, Taoka
Chemical, Tenma Corp, other.
No. of accounts:
1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sumitomo Corp, Sumitomo Chemical, Daikin Ind, Arisawa Mfg, Sumitomo Bakelite, Takeda Chemical Ind,
Toyobo Co, Asahi Kasei Chemicals, Sumika Bayer
Urethane, Sumitomo Mitsubishi Silicon Corp, Asahi Glass, Sumitomo Metal Ind,
Sumitomo Metal Mining, Sumitomo Seika Chemicals, Toyo Styrene, Japan
Polypropylene Corp, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned by the parent, Sumitomo Corp, and maintained satisfactorily.
Bank References:
SMBC (Tokyo)
Sumitomo Trust
Bank (Tokyo)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
155,000 |
147,945 |
159,673 |
158,054 |
|
Recur.
Profit |
|
2,500 |
2,387 |
2,505 |
1,716 |
|
Net
Profit |
|
1,600 |
1,467 |
1,385 |
1,006 |
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Total
Assets |
|
|
47,445 |
54,326 |
58,522 |
|
Current
Assets |
|
|
43,196 |
49,600 |
53,080 |
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Current
Liabs |
|
|
38,010 |
45,040 |
50,489 |
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Net
Worth |
|
|
7,655 |
7,182 |
5,811 |
|
Capital,
Paid-Up |
|
|
900 |
900 |
900 |
|
Div.P.Share(¥) |
|
|
54,500.00 |
50,200.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.77 |
-7.35 |
1.02 |
-21.21 |
|
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Current Ratio |
|
.. |
113.64 |
110.12 |
105.13 |
|
N.Worth Ratio |
.. |
16.13 |
13.22 |
9.93 |
|
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R.Profit/Sales |
|
1.61 |
1.61 |
1.57 |
1.09 |
|
N.Profit/Sales |
1.03 |
0.99 |
0.87 |
0.64 |
|
|
Return On Equity |
.. |
19.16 |
19.28 |
17.31 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.64 |
|
|
1 |
Rs.86.68 |
|
Euro |
1 |
Rs.73.97 |
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.