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Report Date : |
14.11.2013 |
IDENTIFICATION DETAILS
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Name : |
UBE MATERIAL INDUSTRIES LTD |
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Registered Office : |
Ube Kosan Bldg 5F, Aioicho Ube Yamaguchi-Pref 755-0043 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
September, 1949 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Mfg of industrial chemicals |
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No. of Employees : |
660 |
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 |
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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 |
|
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
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 |
UBE
MATERIAL INDUSTRIES LTD
Ube materials KK
Ube Kosan Bldg 5F, Aioicho Ube
Yamaguchi-Pref 755-0043 JAPAN
Tel: 0836-31-0156 Fax: 0836-21-9778
URL: http//:www.ubematerials.co.jp
E-mail: info@ubematerials.co.jp
Mfg of industrial chemicals
Tokyo
Yamaguchi (2), Chiba
KEN’ICHI ABE, PRES Yasunobu Nawata, mgn dir
Akio Ishida, mgn dir Shozo Yoshitake, mgn dir
Shuhei Shirai, dir Tadashi Matsunami, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 38,269 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 4,047 M
TREND SLOW WORTH Yen 28,439 M
STARTED 1949 EMPLOYES 660
MFR OF INDUSTRIAL CHEMICALS,
OWNED BY UBE INDUSTRIES LTD
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was
established on the basis of a chemical mfg division separated from Ube
Industries Ltd (See REGISTRATION). Originally shareholders included Yamaguchi
Bank but in Aug 2013 Ube Industries bought the whole share and the firm became
a wholly owned subsidiary. The firm
specializes in mfg calsia products, magnesium clinker, magnesium oxide,
other. Products are exported.
The sales volume for Mar/2013 fiscal
term amounted to Yen 38,269 million, a 6% down from Yen 90,916 million in the
previous term. The recurring profit was
posted at Yen 1,815 million and the net profit at Yen 1,153 million,
respectively, compared with Yen 2,421 million recurring profit and Yen 1,253
million net profit, respectively, a year ago.
.
For the current term ending
Mar/2014 the recurring profit is projected at Yen 1,950 million and the net
profit at Yen 1,200, million, respectively, on a 5% rise in turnover, to Yen
40,100 million.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered:
Sept 1949
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
32 million
shares
Issued: 8,094,814
shares
Sum: Yen
4,047.407 million
Major shareholders (%): Ube Industries Ltd* (100)
*.. Diversified mfr of chemicals & cement, Yamaguchi,
founded 1942, listed Tokyo, Fukuoka S/E’s, capital Yen 58,435 million, sales
Yen 626,022 million, operating profit Yen 29,962 million, recurring profit Yen
28,045 million, net profit yen 8,265 million, total assets Yen 207,112 million
net worth Yen 218,131 million, employees 11,397, pres Michio Takeshita
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Manufactures industrial chemicals,
magnesium oxide, hydraulic magnesium, Magnesia Clinker, calcia products, Fine
materials products, other (--100%).
Clients: [Mfrs, wholesalers] Nippon Steel
Sumikin, Shinagawa Factories, JFE Trading, Mitsui & Co, Mintec Japan, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Ube Industries,
JFE Trading Seibu Oil, other,
Payment record: No Complaints
Location: Business area in Yamaguchi. Office premises at the caption address are
owned by the parent and maintained satisfactorily.
Bank References:
Yamaguchi Bank (Ube)
SMBC (Shimonoseki)
Relations: Satisfactory
(In Million Yen)
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
||
|
Annual
Sales |
40,100 |
38,269 |
40,916 |
42,550 |
|
|
Recur.
Profit |
1,950 |
1,815 |
2,421 |
3,270 |
|
|
Net
Profit |
1,200 |
1,153 |
1,253 |
1,253 |
|
|
Total
Assets |
40,395 |
40,316 |
41,765 |
||
|
Current
Assets |
10,673 |
11,114 |
24,551 |
||
|
Current
Liabs |
16,556 |
16,831 |
13,020 |
||
|
Net
Worth |
28,439 |
27,805 |
27,228 |
||
|
Capital,
Paid-Up |
4,047 |
4,047 |
4,047 |
||
|
Div.Ttl
in Million ¥) |
566 |
647 |
404 |
||
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth
Rate |
4.78 |
-6.47 |
-3.84 |
13.23 |
|
|
Current
Ratio |
.. |
64.47 |
66.03 |
188.56 |
|
|
N.Worth
Ratio |
.. |
70.40 |
68.97 |
65.19 |
|
|
R.Profit/Sales |
4.86 |
4.74 |
5.92 |
7.69 |
|
|
N.Profit/Sales |
2.99 |
3.01 |
3.06 |
2.94 |
|
|
Return
On Equity |
.. |
4.05 |
4.51 |
4.60 |
|
Notes: Forecast (or estimated)
figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.45 |
|
|
1 |
Rs.101.17 |
|
Euro |
1 |
Rs.85.55 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.