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Report Date : |
19.03.2013 |
IDENTIFICATION DETAILS
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Name : |
UENO FINE CHEMICALS INDUSTRY LTD |
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Registered Office : |
2-4-8 Koraibashi Chuoku Osaka 541-0043 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
October 1945 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of fine chemicals, food additives, cosmetic
additives |
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No. of Employees : |
470 |
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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Maximum Credit Limit : |
Yen 719.3 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
--- |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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 |
UENO FINE CHEMICALS INDUSTRY LTD
Ueno Seiyaku KK
2-4-8 Koraibashi
Chuoku Osaka 541-0043 JAPAN
Tel:
06-6203-0761
Fax: 06-6222-2413
*.. The is its Yokkaichi Factory
URL: http://www.ueno-fc.co.jp/
E-mail: info@ueno-fc.co.jp
Mfg of fine chemicals, food additives, cosmetic additives
Tokyo,
Fukuoka, Sapporo
Yokkaichi, Sanda, Itami, Wakkanai
Bangkok (Factory)
MASAYA
UENO, PRES Kazuhiro Miki, dir
Yuji
Hirahisa, dir Yoshihiko
Katsuyama, dir
Masaya
Kitayama, dir Ryoichi Hitotsuya,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 29,691 M
PAYMENTS REGULAR CAPITAL Yen 1,010 M
TREND SLOW WORTH Yen 10,512 M
STARTED 1945 EMPLOYES 470
MFR OF
FINE CHEMICALS
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 719.3 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Seijiro Ueno in order to make most of his experience in the subject line of business, and has been succeeded by his descendants. Masaya took the pres office in 2003. Specializes in mfg fine chemicals: cosmetic additives, pigment intermediates, food additives, plastic engineering, other. Tops in fungicide for cosmetics, having 80% of the domestic share. Also high share for dyestuffs, pigments and high-functional resins. Has a factory in Thailand.
The sales volume for May/2012 fiscal term amounted to Yen 29,691 million, an 11% down from Yen 33,267 million in the previous term. This is referred to the Thai floods and production in Thailand was suspended. The high Yen reduced export revenues in Yen terms, too. The recurring profit was posted at Yen 822 million and the net profit at Yen 644 million, respectively, compared with Yen 1,638 million recurring profit and Yen 1659 million net profit, respectively, a year ago.
For the current term ending May 2013 the recurring profit is projected at Yen 830 million and the net profit at Yen 650 million, respectively, on a 3% rise in turnover, to Yen 30,500 million. Fungicides &pigments intermediates will grow, the firm says.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 719.3 million, on 30 days normal terms.
Date Registered: Oct 1945
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8 million shares
Issued: 2.02 million shares
Sum: Yen 1,010 million
Major shareholders (%): Ueno Technology, Ueno Kogyo,
Ueno Kasei, other (--all Ueno family companies)
No. of shareholders: 10 (about)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
fine chemicals: industrial chemicals (43%), animal drugs/chemicals, food
chemicals, others (57%).
Clients: [Mfrs,
wholesalers] Ueno USA, Mitsubishi Chemical, Mitsubishi Corp, Nagase Corp,
Sumitomo Chemical Ind, Tosoh Corp, SMC Food, Marubeni Corp, Meiji Food Materia,
Polyplastics Co, Toyochem Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers [Mfrs,
wholesalers] Ueno Thailand, Mitsubishi Chemical, Nagase Corp, SMC Food,
Mitsubishi Corp, Mitsui & Co, Dia Chemical, Nippon Alcohol Hambai, Nippon Synthetic
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
Corporate Bank (Osaka)
MUFG
(Osaka)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/05/2013 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
|
|
Annual
Sales |
|
30,500 |
29,691 |
33,267 |
31,688 |
|
Recur.
Profit |
|
830 |
822 |
1,638 |
1,969 |
|
Net
Profit |
|
650 |
644 |
659 |
712 |
|
Total
Assets |
|
|
28,862 |
28,955 |
27,830 |
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Current
Assets |
|
|
13,601 |
14,933 |
|
|
Current
Liabs |
|
|
10,170 |
11,038 |
|
|
Net
Worth |
|
|
10,512 |
9,938 |
9,317 |
|
Capital,
Paid-Up |
|
|
1,010 |
1,010 |
1,010 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.72 |
-10.75 |
4.98 |
-2.12 |
|
|
Current Ratio |
|
.. |
133.74 |
135.29 |
.. |
|
N.Worth Ratio |
.. |
36.42 |
34.32 |
33.48 |
|
|
R.Profit/Sales |
|
2.72 |
2.77 |
4.92 |
6.21 |
|
N.Profit/Sales |
2.13 |
2.17 |
1.98 |
2.25 |
|
|
Return On Equity |
.. |
6.13 |
6.63 |
7.64 |
|
Notes:
Forecast (or estimated) figures for the 31/05/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.70.01 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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.