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Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
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Name : |
DAIICHI KASEI CO LTD |
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Registered Office : |
7-1 Kawada-Okanonishicho Yamashinaku Kyoto 607-8323 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
January, 1955 |
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Com. Reg. No.: |
1300-01-012895 (Kyoto-Yamashinaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of food materials, food additives, food products, other |
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No. of Employees : |
165 |
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 : |
Satisfactory |
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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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
DAIICHI KASEI CO
LTD
KK Daiichi Kasei
7-1 Kawada-Okanonishicho Yamashinaku Kyoto 607-8323 JAPAN
Tel: 075-581-4126 Fax:
075-581-7990
URL: http://www.daiichi-kasei.co.jp
E-Mail address: sales@daiichi-kasei.co.jp
Mfg of food materials, food additives, food products, other
Sapporo, Sendai, Tokyo, Nagano, Fukuoka
At the caption address, Kyoto (5) (including R&D Center)
YOICHI KINEKAWA, PRES Taku
Karanihara, dir
Shinobu Kubo, dir Masaaki
Ueki, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FARI A/SALES Yen 9,202 M
PAYMENTS REGULAR CAPITAL Yen
180 M
TREND UP WORTH Yen 4,522 M
STARTED 1955 EMPLOYES 165
MFR OF FOOD MATERIALS, INGREDIENTS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 448.2 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by
father of Yoichi Kinekawa in order to make most of his experience in the
subject line of business. Yoichi took
the pres office in Aug/2010. This is a
specialized mfr of food materials, ingredients, products, other (See OPERATION). Products are imported and exported. Clients include meat packers, food
processors, other
The sales volume for Jun/2012 fiscal term
amounted to Yen 9,202 million, a 2% up from Yen 8,983 million in the previous
term. The recurring profit was posted at
Yen 524 million and the net profit at Yen 308 million, respectively, compared
with Yen 542 million recurring profit and Yen 286 million net profit,
respectively, a year ago.
For the term that ended Jun 2013 the recurring
profit is projected at Yen 530 million and the net profit at Yen 315 million,
respectively, on a 3% rise in turnover, to Yen 9,500 million. Final results are yet to be released.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date
Registered: Jan 1955
Regd
No.: 1300-01-012895
(Kyoto-Yamashinaku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1.44 million shares
Issued:
360,000 shares
Sum:
Yen
180 million
Major
shareholders (%): Employs’ S/Holding Assn
(41.3), Executives’ S/Holding Assn (11.4)
No.
of shareholders: 12
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Manufactures food
materials: food materials (SLAWP, soluble linear aggregated whey protein,
genesis, high functional proteins (milk, egg, meat and vegetables) sugar group;
food products (sauce, seasoning, dressing. Sauces, other (--100%)
Clients: [Mfrs,
wholesalers] Nippon Meat Packers Inc, Marudai Food Co, Prima Meat Packers,
Yonekyu Corp, Takizawa Ham Co, JA Takasaki Ham, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Arla Foods Japan, Chori Co, Morinaga Dairy Milk, Rinka Ind Inc,
Matsutani Chemical Ind, Takada Koryo Co, other
Payment
record: Regular
Location: Business area in
Kyoto. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Bank of Kyoto (Yamashina-Chuo)
Mizuho Bank (Kyoto-Chuo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
|
Annual Sales |
|
9,500 |
9,202 |
8,983 |
8,473 |
|
Recur. Profit |
|
530 |
524 |
542 |
|
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Net Profit |
|
315 |
308 |
286 |
115 |
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Total Assets |
|
|
6,700 |
6,544 |
6,124 |
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Current Assets |
|
|
4,763 |
4,577 |
|
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Current Liabs |
|
|
1,967 |
2,036 |
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Net Worth |
|
|
4,522 |
4,227 |
3,966 |
|
Capital, Paid-Up |
|
|
180 |
180 |
180 |
|
Div.Ttl in Million (¥) |
|
|
28.8 |
25.9 |
25.9 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.24 |
2.44 |
6.02 |
-3.97 |
|
|
Current Ratio |
|
.. |
242.15 |
224.80 |
.. |
|
N.Worth Ratio |
.. |
67.49 |
64.59 |
64.76 |
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R.Profit/Sales |
|
5.58 |
5.69 |
6.03 |
.. |
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N.Profit/Sales |
3.32 |
3.35 |
3.18 |
1.36 |
|
|
Return On Equity |
.. |
6.81 |
6.77 |
2.90 |
|
Notes: Forecast (or estimated) figures for the 30/06/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
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 |
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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 |
|
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.