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Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
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Name : |
RYOYO TRADING CO LTD |
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Registered Office : |
Tokyo Sakurada Bldg 6F, 1-1-3 Nishi-Shimbashi Minatoku Tokyo 103-0003 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
February 1956 |
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Com. Reg. No.: |
0104-01-074051 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports, exports and
wholesales commodity chemicals, functional chemicals, engineering chemicals,
others (99%), insurance broking (1%) |
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No. of Employees : |
52 |
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 |
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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 |
RYOYO TRADING CO LTD
REGD NAME: Ryoyo
Shoji KK
MAIN OFFICE: Tokyo
Sakurada Bldg 6F, 1-1-3 Nishi-Shimbashi Minatoku Tokyo 103-0003
JAPAN
Tel:
03-3506-3750 Fax: 03-3580-8615
URL: http://www.ryoyotrading.com
E-Mail
address: info-chem@ryoyotrading.com
Import,
export, wholesale of chemicals, chemical products, insurance broking
Osaka,
Okayama, Niigata
China
(4)
YOSHISHIGE
YAMAZAKI, PRES
Ryoichi
Oda, dir Hiroaki
Nishijima, dir
Akio
Yamada, dir Kazuaki
Ishihara, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 40,903 M
PAYMENTSNo complaints CAPITAL Yen 90 M
TREND UP WORTH Yen 2,987 M
STARTED 1956 EMPLOYES 52
TRADING FIRM SPECIALIZING CHEMICALS, PETROCHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established originally as an insurance broking company affiliated
to Mitsubishi Gas Chemical Co Inc, as Yuriga Trading Co Ltd. In 1979 renamed as captioned when the firm
expanded operations to import, export and wholesale of organic chemicals,
chemical products, petrochemicals, etc.
It has grown into a core chemical trading firm of the Mitsubishi
Chemical group. Goods are exported
actively to China, Taiwan, Korea, other.
About 20% of the sales are for exports.
Operates four subsidiaries in China.
Clients are chemical mfrs, wholesalers, other.
The sales
volume for Mar/2012 fiscal term amounted to Yen 40,903 million, a 4% up from
Yen 39,285 million in the previous term.
Exports were robust into China, Taiwan, other. Industrial chemical business was steady. Sales of electric industrial materials and
functional chemicals rebounded in the second half of the term. Operating profit grew. The recurring profit was posted at Yen 518
million and the net profit at Yen 345 million, respectively, compared with Yen
429 million recurring profit and Yen 31 million net losses, respectively, a
year ago.
(Apr/Sept/2012
results): Sales Yen 19,206 million, operating profit Yen 186 million, recurring
profit Yen 215 million, net profit Yen 131 million.
For the
term that ended Mar 2013 the recurring profit was projected at Yen 530 million
and the net profit at Yen 360 million, respectively, on a 3% rise in turnover,
to Yen 42,100 million.. Final results
are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Feb
1956
Regd No.: 0104-01-074051
(Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 720,000 shares
Issued:
180,000 shares
Sum: Yen
90 million
Major shareholders (%): Mitsubishi Gas Chemical Co Inc*
(19.0), Ryoyu Industrial Corp (18.0),
U-PICA Co (15.0), Kagaku Unyu Ltd (15.0), Nisshin Unyu Co (15.0), ISP (11.0)
(--all group firms)
No. of shareholders: 7
*.. Major mfr of xylene &
methanol, Tokyo, founded 1951, listed Tokyo S/E, capital Yen 41,970 million,
sales Yen 467,979 million, operating profit Yen 11,421 million, recurring
profit Yen 27,651 million, net losses Yen 7,793 million, total assets Yen
613,908 million, net worth Yen 294,895 million, employees 5,376, pres Kazuo
Sakai
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales
commodity chemicals, functional chemicals, engineering chemicals, others (99%),
insurance broking (1%)
Overseas Sales Ratio (21%)
(Handling Items):
Commodity Chemicals: paints, paint materials,
methanol, formalin, methanol, ethylamine, xylene, urea, styrene monomer,
others;
Functional Chemicals: neopal, purified terephthalic
acid, maleic anhydride, pure isophthalic acid, phthalic acid anhydride,
dimethyl telephtalate, other.
Engineering Plastics: polycarbonate resin lupion,
reny, lupital, novamid, other
Clients: [Mfrs, wholesalers] Mitsubishi Gas
Chemical Co, U-PICA Co, Japan Finechem Co Ind, Agic Yuan Jen Enterprise, other
Exports to China, Taiwan, Korea,
other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Gas
Chemical Co, Itochu Corp, CGC Japan Co, Mitsui Bussan Chemicals Co, Fudow Co,
Asahi Kasei Chemicals, Nagase & Co, other
Payment record: No complaintsp
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Toranomon)
Daishi
Bank (Hamamatsu)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
42,100 |
40,903 |
39,285 |
32,531 |
|
Recur.
Profit |
|
530 |
518 |
429 |
286 |
|
Net
Profit |
|
360 |
345 |
-31 |
147 |
|
Total
Assets |
|
|
16,996 |
14,356 |
13,792 |
|
Current
Assets |
|
|
16,026 |
13,455 |
|
|
Current
Liabs |
|
|
23,880 |
11,551 |
|
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Net
Worth |
|
|
2,987 |
2,687 |
2,744 |
|
Capital,
Paid-Up |
|
|
90 |
90 |
90 |
|
Div.P.Share(¥) |
|
|
580.00 |
290.00 |
300.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.93 |
4.12 |
20.76 |
-14.53 |
|
|
Current Ratio |
|
.. |
67.11 |
116.48 |
.. |
|
N.Worth Ratio |
.. |
17.57 |
18.72 |
19.90 |
|
|
R.Profit/Sales |
|
1.26 |
1.27 |
1.09 |
0.88 |
|
N.Profit/Sales |
0.86 |
0.84 |
-0.08 |
0.45 |
|
|
Return On Equity |
.. |
11.55 |
-1.15 |
5.36 |
|
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 : |
PDT |
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 |
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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 |
|
-- |
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.