|
Report Date : |
09.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
INCHEMY CHIBA IND LTD |
|
|
|
|
Registered Office : |
1-24-7 Satsukigaoka Hanamigawaku Chiba
262-0014 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
October 1988 |
|
|
|
|
Com. Reg. No.: |
0400-01-000507
(Chiba-Hanamigawaku) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, export, wholesale of
chemicals, water treatment systems |
|
|
|
|
No. of Employees : |
05 |
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 : |
Slow but Correct |
|
|
|
|
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 |
INCHEMY CHIBA IND LTD
KK Inchemy Chiba
1-24-7
Satsukigaoka Hanamigawaku Chiba 262-0014 JAPAN
Tel:
043-257-3918 Fax: 043-257-3951
URL: N/A
E-Mail address: inchemy@mbc.ocn.ne.jp
Import,
export, wholesale of chemicals, water treatment systems, other
Nil
SHOICHI
SOH, PRES
Hiromasa
Ohta, ch
Sonoko
Tanaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 180 M
PAYMENTSSlow but Correct CAPITAL Yen 10 M
TREND UP WORTH Yen 27 M
STARTED 1988 EMPLOYES 5
TRADING COMPANY SPECIALIZING IN CHEMICALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Hiromasa Ohta in order to make most of his experience in the subject line of business. Shoichi Soh took the pres office in May 2009. This is a trading firm for import, export and wholesale of chemicals (dyestuffs, pigment), functional chemicals, water treatment systems, other. Exports to China, Korea, Taiwan, India, Thailand, Indonesia, Vietnam, other S/E Asian countries.
Financials are only partially disclosed.
The sales volume for Mar/2012 fiscal term amounted to Yen 180 million, a
sharp 50% up from Yen 120 million in the previous term. Newly introduced functional chemicals and
water treatment systems were in good demand.
The net profit was posted at Yen 1 million, similarly in the previous
term.
For the term that ended Mar 2013 the net profit was projected at Yen 1
million, on a 6% rise in turnover, to Yen 190 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Oct 1988
Regd No.: 0400-01-000507 (Chiba-Hanamigawaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Hiromasa Ohta (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales chemicals: synthetic dyestuffs, natural dyestuffs, pigments,
resin additives; water treatment systems, plane water making equipment, others
(--100%)
Clients: [Mfrs,
wholesalers] DIC, Toagosei Co, Nippon Steel & Sumitomo Metal Corp, Kyoshin Trading,
Shin-Etsu Chemical Ind, Nippon Steel Trading, LG Chem Ltd, Nippon Formula Feed
Mfg, other
Exports to China, Taiwan, Korea, India, Indonesia, Thailand, Vietnam,
other
No. of accounts: 200
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nitto Denko Corp, Wide Techs, Kyungin Synthetic Corp, Emori &
Co Ltd, Toyo Glass Co, other.
Imports from China, Taiwan, India, Korea, other S/E Asian countries
Payment record: Slow but
Correct
Location: Business area in
CIBA. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Mizuho Bank (Chiba)
Keiyo Bank (Satsukigaoka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Annual
Sales |
|
190 |
180 |
120 |
121 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
1 |
1 |
1 |
1 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
27 |
26 |
25 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.56 |
50.00 |
-0.83 |
0.83 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.53 |
0.56 |
0.83 |
0.83 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
UK Pound |
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.83.69 |
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.