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Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
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Name : |
MALROB-CHEMIPLUS LIMITED |
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Registered Office : |
Nihombashi Kakigaracho Tokyu Bldg 2F, 1-29-4 Nihombashi-Kakigaracho Chuoku Tokyo 103-0014 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
May 2007 |
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Com. Reg. No.: |
0100-01-142864 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of
industrial chemicals, fine chemicals |
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No. of Employees : |
07 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Usually Correct |
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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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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.
|
Source : CIA |
MALROB-CHEMIPLUS LIMITED
KK Melrob Chmiplus
Nihombashi Kakigaracho Tokyu Bldg 2F, 1-29-4
Nihombashi-Kakigaracho, Chuoku Tokyo 103-0014 JAPAN
Tel:
03-6231-1361 Fax: 03-6231-1368
*.. Moved to the caption address in July 2012 from the former as given
URL: http://www.melrob-chemiplus.com
E-Mail address: info@melrob-chemiplus.com
Import,
export, wholesale of industrial chemicals, fine chemicals
Nil
China,
Singapore
SATOSHI
KATO, PRES
Hiroshi
Hibino, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 2,781 M
PAYMENTSUsually Correct CAPITAL Yen 10 M
TREND UP WORTH Yen 12 M
STARTED 2007 EMPLOYES 7
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS,
WHOLLY OWNED BY MELROB LIMITED UK.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established originally in 2006 by Melrob Limited UK as its Japan marketing office, as Melrob Japan Ltd. In 2007 merged a part of operations with Chemiplus Corp and renamed as captioned. The merger was intended to streamline their operations into one entity: Melrob Japan was expert in industrial chemicals, while Chemiplus in fine chemicals. In Oct 2011 the integration of the two was complete; and from 1st Oct 2011 the distribution activities of both companies traded as Melrob-Chemiplus Ltd. Operations cover Europe, USA, China, Mid/Near East, other.
The sales volume for Sept 2012 fiscal term amounted to Yen 2,781 million, an 84% up from Yen 1,513 million in the previous term. This is attributed to the said merger completion and sales expanded. The operations returned to profitability to post Yen 19 million recurring profit and Yen 16 million net profit, respectively, compared with Yen 13 million recurring loss and Yen 13 million net losses, respectively, a year ago.
For the current term ending Sept 2013 the recurring profit is projected at Yen 20 million and the net profit at Yen 20 million, respectively, on a 3% rise in turnover, to Yen 2,850 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.
Date Registered: May
2007
Regd No.: 0100-01-142864 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Melrob Limited UK (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales industrial chemicals, fine chemicals, other
(--100%)
(Handling Items): Fine chemicals (intermediates, chiral compounds, amino acids); industrial & specialty (inorganic, intermediates, metal compounds); bio materials (monomers, silicone, hydrogen monomers, UV blockers); monomers (metacrylates & acryl ate monomers); lubricants (oil additives, polybutene & sulphonates); tobacco (triacetin, acetate tow, BOPP film, papers); other
Clients: [Mfrs, wholesalers] Melrob Limited, PPG Industries, Melrob Europe, other to China, Mid/Near East, S/E Asia, other.
Domestically: Nihon Kohsakuyu Co, other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Melrob Limited, Mitsubishi Gas Chemical, Nippon Shokubai Co, Ryoko Co, other
Payment record: Usually Correct
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Ogikubo)
Hong
Kong & Shanghai Bank (Tokyo)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
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Annual
Sales |
|
2,850 |
2,781 |
1,513 |
1,212 |
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Recur.
Profit |
|
20 |
19 |
-13 |
15 |
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Net
Profit |
|
20 |
16 |
-13 |
15 |
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Total
Assets |
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|
615 |
365 |
179 |
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Current
Assets |
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|
388 |
193 |
171 |
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Current
Liabs |
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|
363 |
145 |
113 |
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Net
Worth |
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|
12 |
-5 |
9 |
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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 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.48 |
83.81 |
24.83 |
119.96 |
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Current Ratio |
|
.. |
106.89 |
133.10 |
151.33 |
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N.Worth Ratio |
.. |
1.95 |
-1.37 |
5.03 |
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R.Profit/Sales |
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0.70 |
0.68 |
-0.86 |
1.24 |
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N.Profit/Sales |
0.70 |
0.58 |
-0.86 |
1.24 |
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Return On Equity |
.. |
133.33 |
-260.00 |
166.66 |
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Notes:
Forecast (or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
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UK Pound |
1 |
Rs.81.33 |
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Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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.