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Report Date : |
28.11.2013 |
IDENTIFICATION DETAILS
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Name : |
SOJITZ PLA-NET CORPORATION |
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Registered Office : |
Iino Bldg 20F, 2-1-1 Uchisaiwaicho Chiyodaku Tokyo 100-0011 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
Jan 2004 |
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Com. Reg. No.: |
0100-01-148277
(Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports, exports and wholesales plastic resins,
engineering plastics, plastic compounds |
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No. of Employees : |
254 |
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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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 |
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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 |
SOJITZ PLA-NET CORPORATION
REGD NAME: Sojitz
Planet KK
MAIN OFFICE: Iino
Bldg 20F, 2-1-1 Uchisaiwaicho Chiyodaku Tokyo 100-0011 JAPAN
Tel:
03-6871-3000 Fax: 03-6858-7255
URL: http://www.sojitz-planet.com
E-Mail
address: (thru the URL)
Import,
export, wholesale of synthetic resins, plastic compounds, other
Osaka,
Fukuoka, Miyazaki, Sapporo
China,
Hong Kong, USA, Canada, Finland (--group firms)
KOJI
IZUTANI, PRES: Susumu
Kifune, dir
Tsutomu
Tanaka, dir Kyosuke Sasaki, dir
Hisashi
Sakane, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 127,605 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
3,000 M
TREND UP WORTH Yen 27,137 M
STARTED 2004 EMPLOYES 254
TRADING FIRM SPECIALIZING IN SYNTHETIC RESINS &
PLASTICS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company is a core subsidiary of the Chemicals Division of Sojitz Corporation, a
general trading company, and acts as a trading company handling primarily
plastic materials and products. The
company was established in Jan 2004 thru the merger of the plastic divisions of
Nichimen Corp, Nissho Iwai Plastics, and Chori Pla-Techno, as Pla-Net
Corporation. Name changed in Apr 2007 to
Sojitz Pla-Net Corporation. The Sojitz
Pla-Net group was created by succeeding the strengths of each company, and the
company has grown to become the leading trading company in the plastics
industry. The network of customer and
trading partners built on experience and traditions is expanded globally. The firm has three business activity areas:
plastic resins, packaging materials, and electronics materials.
The sales
volume for Mar/2013 fiscal term amounted to Yen 127,605 million, a 13% down
from Yen 145,841 million in the previous term.
High Yen hurt imports/exports, reducing earnings in Yen terms. Price decline of some of the products also
affected. The recurring profit was
posted at Yen 1,523 million and the net profit at Yen 1,423 million,
respectively, compared with Yen 1,513 million recurring profit and yen 997
million net profit, respectively, a year ago.
For the
current term ending Mar 2014 the recurring profit is projected at Yen 1,600
million and the net profit at Yen 1,500 million, respectively, on a 5% rise in
turnover, to Yen 134,000 million.
Business is observed expanding steadily.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Jan 2004
Regd No.: 0100-01-148277
(Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000 shares
Issued:
60,000 shares
Sum: Yen
3,000 million
Major shareholders (%): Sojitz Pla-Net Holdings* (100)
*..
Holding company of the Sojitz Pla-Net group firms, owned by Sojitz Corp.
Sojitz Corp, semi-major trading house, Tokyo,
founded 2003, listed Tokyo S/E, capital Yen 160,339 million, sales Yen
1,955,907 million, operating profit Yen 33,305 million, recurring profit Yen
34,478 million, net profit Yen 14,263 million, total assets Yen 2,183,114
million, net worth Yen 407,498 million, employees 16,273, pres Yoji Sato
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales
plastic resins, engineering plastics, plastic compounds, other (--100%).
(Products by Divisions):
Plastic Resin Materials: resins for molding, products
related to plastics;
Packaging Materials: plastic packaging materials,
food & pharmaceutical packaging materials, commodities packaging materials,
industrial films & sheets;
Electronics materials: electronics materials, CCL
& PCB mounting, LCD panel products.
Clients: [Mfrs, wholesalers] Panasonic Corp,
DNP Techno Pack, MRD, Plamatels Corp, Fuji Seal Co, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Asahi Kasei
Chemicals, Toray, Mitsubishi Engineering Plastics, Polyplastics Co, Japan Poly
Propylene Corp, other.
Payment record: No
Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Tokyo)
Aozora
Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
134,000 |
127,605 |
145,841 |
151,993 |
|
Recur.
Profit |
|
1,600 |
1,523 |
1,513 |
|
|
Net
Profit |
|
1,500 |
1,423 |
997 |
1,171 |
|
Total
Assets |
|
|
64,492 |
69,799 |
67,886 |
|
Current
Assets |
|
|
56,094 |
60,088 |
|
|
Current
Liabs |
|
|
31,275 |
38,319 |
|
|
Net
Worth |
|
|
27,137 |
25,582 |
24,656 |
|
Capital,
Paid-Up |
|
|
3,000 |
3,000 |
3,000 |
|
Div.P.Share(¥) |
|
|
|
|
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|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.01 |
-12.50 |
-4.05 |
7.01 |
|
|
Current Ratio |
|
.. |
179.36 |
156.81 |
.. |
|
N.Worth Ratio |
.. |
42.08 |
36.65 |
36.32 |
|
|
R.Profit/Sales |
|
1.19 |
1.19 |
1.04 |
.. |
|
N.Profit/Sales |
1.12 |
1.12 |
0.68 |
0.77 |
|
|
Return On Equity |
.. |
5.24 |
3.90 |
4.75 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.62.36 |
|
UK Pound |
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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 |
|
---- |
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.