|
Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
MEISEI & CO LTD |
|
|
|
|
Registered Office : |
Tokyo Tatemono Daisan Muromachi Bldg 4F,
4-8-14 Nihombashi-Honcho Chuoku Tokyo 103-0023 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
October 1947 |
|
|
|
|
Com. Reg. No.: |
0100-01-124279 (Osaka-Chuoku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Import, export and wholesale
of industrial chemicals, electronics materials |
|
|
|
|
No. of Employees : |
140 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Regular |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 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 |
MEISEI & CO LTD
REGD NAME: Meisei
Shokai KK
MAIN OFFICE: Tokyo
Tatemono Daisan Muromachi Bldg 4F, 4-8-14 Nihombashi-Honcho
Chuoku Tokyo
103-0023 JAPAN
Tel:
03-5299-6211 Fax: 03-3245-2554
URL: http://www.meisei-shokai.co.jp/
E-Mail
address: info@meisei-shokai.co.jp
Import,
export and wholesale of industrial chemicals, electronics materials
Osaka,
Akita, Nagoya, Toyama, Fukuyama, Fukuoka, Fuji
China (4),
Singapore, USA, Malaysia, India, Taiwan, Singapore, Hong Kong
(subcontracted)
MASANORI
TAKAYAMA, PRES Nobunari Kunimine, s/mgn
dir
Hidekazu
Daito, mgn dir Yasunori
Tokuno, dir
Yoichi Abe, dir Yoshiyuki Takayama, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 30,554 M
PAYMENTSREGULAR CAPITAL Yen
262 M
TREND SLOW WORTH Yen 2,110 M
STARTED 1947 EMPLOYES 140
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS, UNDER HOLDING COMPANY OF TCS HOLDING CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by father of Masanori Takayama in order to make most of
his experience in the subject line of business.
This is a trading firm for import, export and wholesale of industrial
chemicals as a mainstay, electronics products, pulp & paper, other. Goods are imported from China, India,
Malaysia, Philippines, Hong Kong, USA, other.
Most of the products are subcontracted mfg overseas. Clients include major electronics mfrs,
chemical mfrs, other, nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen
30,554 million, a 6% down from Yen 32,468 million in the previous term. The business was affected in the first 3
months by the Great East Japan Earthquake that occurred in March 2011. Exports increased but hurt by the high Yen,
reducing earnings & profits in Yen terms.
The recurring profit was posted at Yen 61 million and the net profit at
Yen 19 million, respectively, compared with Yen 299 million recurring profit
and Yen 180 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is
projected at Yen 70 million and the net profit at Yen 30 million, respectively,
on a 5% rise in turnover, to Yen 32,000 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Oct 1947
Regd No.: 0100-01-124279 (Osaka-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 40
million shares
Issued: 10,240,000
shares
Sum: Yen 262 million
Major shareholders (%): TCS Holdings Co Ltd*(97.7),
Meisei Chemical Works (0.8),
Yoshiyuki Takayama (0.8),
Masahiro Takayama (0.7)
No. of shareholders: 4
* Group holding company of the
subject, Tokyo Computer Service, other, and owner/manager of the caption bldg,
at the caption address, founded 1971, capital Yen 225 million, pres Masanori
Takayama, concurrently.
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales
industrial chemicals (35%), synthetic resins (18%), fine chemicals, functional
chemicals (15%), electronic materials (FPC products, printed circuits, etc)
(11%), dyestuffs, auxiliary agents (4%), others (17%).
Goods are imported from China,
India, Malaysia, Thailand, Philippines, Hong Kong, USA, etc.
Clients: [Mfrs, wholesalers] Panasonic Corp,
Panasonic Device Yokkaichi, Ouchi Shinko Chemical Ind, Murata Mfg Co, Sanwa
Electric Circuits Co, TDK, Clariant Japan, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers].Panasonic Corp,
NOF Corp, Lintec Corp, Meisei Chemical Ind, Sumitomo Chemical Ind, other
Imports from China, India,
Philippines, Malaysia, Hong Kong, USA, other
Payment record:
Regular
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(Kanda)
Mizuho
Bank (Kudan)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
32,000 |
30,554 |
32,468 |
31,172 |
|
Recur.
Profit |
|
70 |
61 |
299 |
270 |
|
Net
Profit |
|
30 |
19 |
180 |
121 |
|
Total
Assets |
|
|
12,629 |
12,355 |
12,743 |
|
Current
Assets |
|
|
10,522 |
10,376 |
|
|
Current
Liabs |
|
|
9,892 |
9,062 |
|
|
Net
Worth |
|
|
2,110 |
2,131 |
1,965 |
|
Capital,
Paid-Up |
|
|
262 |
262 |
262 |
|
Div.P.Share(¥) |
|
|
0.00 |
1.80 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.73 |
-5.90 |
4.16 |
-9.03 |
|
|
Current Ratio |
|
.. |
106.37 |
114.50 |
.. |
|
N.Worth Ratio |
.. |
16.71 |
17.25 |
15.42 |
|
|
R.Profit/Sales |
|
0.22 |
0.20 |
0.92 |
0.87 |
|
N.Profit/Sales |
0.09 |
0.06 |
0.55 |
0.39 |
|
|
Return On Equity |
.. |
0.90 |
8.45 |
6.16 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
|
1 |
Rs.82.49 |
|
Euro |
1 |
Rs.69.88 |
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 |
|
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 |
|
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.