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Report Date : |
25.06.2013 |
IDENTIFICATION DETAILS
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Name : |
DAIWA DYESTUFF
MFG CO LTD |
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Registered Office : |
5-7-1 Shinnakazato Chuoku Saitama 338-0011 |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
July 1954 |
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Com. Reg. No.: |
0300-01-005096 (Saitama-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of dyestuffs, synthetic resin coloring |
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No. of Employees : |
100 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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
DAIWA DYESTUFF MFG CO LTD
REGD NAME: Daiwa
Kasei KK
MAIN OFFICE: 5-7-1
Shinnakazato Chuoku Saitama 338-0011
Tel:
048-832-3121 Fax: 048-831-9171
URL: http://www.daiwadyestuff.com
E-Mail address: (thru the URL)
Mfg of dyestuffs,
synthetic resin coloring
Nil
At the caption
address
MAKOTO HOSOI, PRES Keisuke Arai, ch
Takeshi Hasegawa,
s/mgn dir Osamu Inoue, mgn dir
Masatake Tanaka, mgn
dir Ryuichi Masuda, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 5,159 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
30 M
TREND SLOW WORTH Yen
4,820 M
STARTED 1954 EMPLOYES 100
MFR OF DYESTUFFS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established by Keisuke Arai in order to make most of his experience in the
subject line of business. This is a
specialized mfr of dyestuffs, pigments, coloring agents, food additives,
other. Has a trading subsidiary, Daiwa
Kasei Sales Co Ltd, at the caption address to do the trading. Financials are solid with no debt
management. Clients include food makers,
cosmetic makers, other.
The sales volume for
Mar/2012 fiscal term amounted to Yen 5,159 million, a 5% down from Yen 5,413
million in the previous term. Exports
were hurt by the high Yen, reducing earnings & profits in Yen terms. The recurring profit was posted at Yen 431
million and the net profit at Yen 211 million, respectively, compared with Yen
454 million recurring profit and yen 218 million net profit, respectively, a
year ago.
For the term that ended
Mar 2013 the recurring profit was projected at Yen 450 million and the net
profit at Yen 220 million, respectively, on a 5% rise in turnover, to Yen 5,400
million. Final results are yet to be
released. .
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: July 1954
Regd No.: 0300-01-005096 (Saitama-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000 shares
Issued: 60,000 shares
Sum: Yen 30 million
Major shareholders (%): Daiwa Kasei
Sales* (35), other
No. of shareholders: 22
*.. Subsidiary trading firm, at the caption
address, founded 1975, capital Yen 10 million, sales Yen 2,036 million, net
profit Yen 8 million, employees 2, pres Makoto Hosoi, concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
dyestuffs & pigments: food dye, food additives, cosmetic fragrance,
flavors, natural colors, others (--100%)
Clients: [Mfrs, wholesalers]
Daiwa Kasei Sales, Toyota Tsusho Corp, Showa Trading Co, Teramoto Seika Zairyo
(confectionery materials mfr), Kaseihin Shoji Co, Mitsubishi Pencil, Pilot
Corp, other
No. of accounts:
300
Domestic areas of
activities: Centered in the greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Sojitz Planet, Miki & Co Ltd, Mitsubishi Corp, Toyota Tsusho
Corp, Utsu Co, Marubeni Plax, Mitsui & Co, Sumitomo Corp, other
Payment record: No Complaints
Location: Business area in
Saitama. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank
(Omiya)
Saitama Resona
Bank (Yono)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
5,400 |
5,159 |
5,413 |
4,616 |
|
Recur.
Profit |
|
450 |
431 |
454 |
|
|
Net
Profit |
|
220 |
211 |
218 |
183 |
|
Total
Assets |
|
|
6,469 |
6,434 |
5,906 |
|
Current
Assets |
|
|
3,669 |
3,751 |
|
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Current
Liabs |
|
|
1,150 |
1,263 |
|
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Net
Worth |
|
|
4,820 |
4,615 |
4,403 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.67 |
-4.69 |
17.27 |
-4.25 |
|
|
Current Ratio |
|
.. |
319.04 |
296.99 |
.. |
|
N.Worth Ratio |
.. |
74.51 |
71.73 |
74.55 |
|
|
R.Profit/Sales |
|
8.33 |
8.35 |
8.39 |
.. |
|
N.Profit/Sales |
4.07 |
4.09 |
4.03 |
3.96 |
|
|
Return On Equity |
.. |
4.38 |
4.72 |
4.16 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
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 |
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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 |
|
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.