MIRA INFORM REPORT
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Report Date : |
25.05.2013 |
IDENTIFICATION DETAILS
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Name : |
OG CORPORATION |
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Registered Office : |
4-1-43 Miyahara Yodogawaku Osaka 532-0003 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
January, 1923 |
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Com. Reg. No.: |
1200-01-054400 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of industrial chemicals |
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No. of Employees : |
469 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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 |
Company NAME
OG CORPORATION
REGD NAME
O. G. KK
MAIN OFFICE
4-1-43 Miyahara Yodogawaku Osaka 532-0003 JAPAN
Tel: 06-6395-5100 Fax:
06-6395-5115
*.. The is its Tokyo Head Office at: 2-8-7 Nihombashi-Honcho Chuoku
Tokyo, as given
URL: Error!
Hyperlink reference not valid.
E-Mail address: honsha@ogcorp.co.jp/
(each division has its own E-mail address)
ACTIVITIES
Import, export, wholesale of industrial chemicals
BRANCHES
Tokyo, Sapporo, Nagoya, Takamatsu, Fuji, Hiroshima, Fukuoka, other (Tot
14)
OVERSEAS
Mumbai, Shanghai
(Affiliates): China (4, including one in Hong Kong), USA (2), Taiwan,
Korea
(See REGISTRATION for related
companies)
OFFICERS
HIROYUKI TAKINO, PRES Muneaki
Yoshitake, s/mgn dir
Norio Katoh, s/mgn dir Eigoro
Kuniyoshi, s/mgn dir
Junzo Takahashi, mgn dir Takeyasu
Yasuda, mgn dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 115,011 M
PAYMENTS REGULAR CAPITAL Yen
1,110 M
TREND SLOW WORTH Yen 10,040 M
STARTED 1923 EMPLOYES 469
COMMENT
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ODINARY BUSINESS
ENGAGEMENTS.
HIGHLIGHTS
This is an old-established trading house founded on the basis of the
merger of 5 local dye-trading houses, as Osaka Godo Co Ltd. In Jul 1991 renamed as captioned. Specializes in import, export and wholesale
of industrial chemicals, such as pigments, dyestuff, paints, resins, pharmaceutical
ingredients, food additives, and others.
The firm operates 6 core business divisions: color & fine chemicals,
paper & pulps, chemicals, plastics, electronic materials, and R&D
divisions (See OPERATION for details
& products). Top-ranked in dyestuffs
& pigments. Goods are imported from
and exported to India, Taiwan, China, USA, etc.
Brief history: Jun 1958,
founded Daiwa Chemical Ind (mfr of textile chemicals & industrial
chemicals; Mar 1963, capital participation in Nitto Plastics Co (synthetic
resign molding); Apr 1987, founded Suzukawa Chemical Ind (mfr of industrial chemicals);
Dec 1971, founded Toa Kasei Co (mfr of industrial chemicals); Jul 1980, founded
OG Chemical Ind (mfr of industrial chemicals); Sept 1982, moved the head office
to the caption address; Aug 1983, opened Osakagodo America Inc; Sept 1985,
capital participation in Yamago Kasei Ind (synthetic resin molding); Oct 1990,
founded ICG Co Ltd (import/export of chemical products); Jul 1991, renamed as
captioned; Sept 1995, founded FO Tec Co (mfr of industrial chemicals); Oct
1995, founded OG Asia (Taiwan) Corp (import/export of chemical products); Dec
1995, founded Qingdao OG Plastic Products Co (mfr of synthetic resin products);
Apr 1996, founded OG Wakayama Co (wholesale of chemicals); Oct 1997, capital
participation in Daido Sangyo Co (wholesale of chemicals); Dec 1997, founded
Shanghai OG Trading Co (import/export of chemical products); Apr 1999, founded
NOAC Co Ltd (design/plan/development of computer software); Apr 2002, founded
OG Film Co (film mfr, product processing & sales); Oct 2002, founded Shanghai
OG T&D Techno Co (laboratory center, mfr of dyestuff & dyeing
auxiliaries); Aug 2003, capital participation in Ike Trading Co.
FINANCIAL INFORMATION
The sales volume for Mar/2012 fiscal term amounted to Yen 115,011
million, a 2% down from Yen 117,454 million in the previous term. High Yen hurt sales for imports &
exports, decreasing revenues in Yen terms.
The recurring profit was posted at Yen 630 million and the net profit at
Yen 284 million, respectively, compared with Yen 901 million and Yen 407 million
net profit, respectively, a year ago.
For the term that ended Mar 2013 the recurring profit was projected at
Yen 670 million and the net profit at Yen 300 million, on a 4% rise in
turnover, to Yen 120,000 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
REGISTRATION
Date Registered: Jan 1923
Regd No.: 1200-01-054400
(Osaka-Yodogawaku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 60 million shares
Issued:
15 million
shares
Sum: Yen
1,110 million
Major shareholders (%): Company’s Treasury Stock (22.6),
Employees’ S/Holding Assn (7.4), Mizuho Bank (3.6)), MUFG (3.6), SMBC (3.6),
Ikeda Fukusuke KK (3.3)
No. of
shareholders: 317
Nothing detrimental is known as to the commercial morality of
executives.
Related companies:
(Domestic): Daiwa Chemical Ind, Yamago Kasei Ind, OG Chemical Ind, Toa Kasei Co, Suzukawa Chemical Ind, Nitto Plastics Co, OG Wakayama Co, Daido Sangyo Co, FO TEC Co, OG Film Co, other (Tot 12);
(Overseas): Osakagodo America Inc, OG Asia (Taiwan) Corp, Qingdao OG Plastic Products, ICG Co (Hong Kong), Shanghai OG Trading Co, Ike Trading Co (USA), Shanghai OG T&D Techno Co, Osakagodo Korea Corp (Tot 8).
OPERATION
Activities: A trading house
for import, export and wholesale of dyestuffs, pigments, tex- tile chemicals, industrial &
fine chemicals, paints, raw resins, and their finished products, pharmaceutical ingredients, reprographic materials,
food additives, other industrial chemicals (--100%)
Overseas trading
ratio (22%) covering Asia, USA, etc).
BUSINESS DIVISIONS (major handling
products):
Color & fine
chemicals: Dyestuffs, Pigments, Textile auxiliaries, Antibacterial agent, Germicide,
Flame retardant, Non-woven fabric, CCM, Colorimeters, Automatic color matching
devices, Raw material for medicine and agricultural chemicals, Organic
intermediates and Fragrant materials.
Paper & pulps: All sorts of
chemicals used in every process of paper mfg, non-wood pulp, such as kenaf
& bamboo, used paper recycling
Chemicals: Organic
chemicals, Industrial chemicals, Inorganic chemicals, Acrylic resins, Epoxy
resins and basic ingredients of the following items- Paint/Ink, Electronic
components, Urethane and other resins, Transport equipment accessories,
Synthetic leathers, Surfactants, Food related materials, Building materials,
Acrylic resins and Epoxy resins.
Plastic: Raw resins, resin additives, films, sheets, laminated
manufactured products, injection-molded parts, extrusion-molded parts,
blow-molded parts, packaging-related machines, bolding-related machines
Electronic
Materials: Color filters, Pigment dispersing agents, Overcoat materials,
Anti-reflection materials, Toner binder resins, Charge control agents, Ink,
Image receiving sheets, Dyestuffs, Pigments, Base film sheets, Insulation
sheets, Electrode materials, Resist solvents, Sensitizers, Near-infrared ray
absorbents, Ultraviolet absorbents
R&D Division
(projects): Specialty chemicals, pharmaceuticals, China projects, specialty films,
new materials, etc.
Clients: [Chemical mfrs,
wholesalers, specialty traders] Ikeuchi Veneer, Dainippon Ink & Chemicals, JSR, OG Wakayama, OG Taiwan, Nippon
Paper Ind, Dynic Corp, JSR Micro Kyushu, Fukusuke
Kogyo, Teijin Ltd, other
No. of accounts: 2,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui & Co, Dainippon Ink & Chemicals, Apollo Investment,
Toa Gosei, Mitsubishi Gas Chemicals, Nissan Chemical Ind, Mitsui Chemical, Clariant Japan, Sanyo Chemical Ind,
Nippon Kayaku, Tokushiki Co, Daiwa 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 Bank (Minamisemba)
MUFG (Semba-Chuo)
Relations: Satisfactory.
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual Sales |
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120,000 |
115,011 |
117,454 |
110,154 |
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Recur. Profit |
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670 |
650 |
901 |
600 |
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Net Profit |
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300 |
284 |
407 |
318 |
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Total Assets |
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61,421 |
62,699 |
59,571 |
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Current Assets |
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46,717 |
47,162 |
43,643 |
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Current Liabs |
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40,047 |
47,266 |
41,914 |
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Net Worth |
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10,040 |
9,769 |
9,636 |
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Capital, Paid-Up |
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1,110 |
1,110 |
1,110 |
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Div.P.Share(¥) |
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11.00 |
10.00 |
10.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.34 |
-2.08 |
6.63 |
-6.88 |
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Current Ratio |
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.. |
116.66 |
99.78 |
104.13 |
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N.Worth Ratio |
.. |
16.35 |
15.58 |
16.18 |
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R.Profit/Sales |
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0.56 |
0.57 |
0.77 |
0.54 |
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N.Profit/Sales |
0.25 |
0.25 |
0.35 |
0.29 |
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Return On Equity |
.. |
2.83 |
4.17 |
3.30 |
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Notes: Forecast figures for the
31/03/2013 fiscal term.
^
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.61 |
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1 |
Rs.83.98 |
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Euro |
1 |
Rs.71.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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.