|
Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
FUJI KASEI CO LTD |
|
|
|
|
Registered Office : |
Takasago Bldg 801, 1-13-16 Awaza Nishiku Osaka 550-0011 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
July, 1968 |
|
|
|
|
Com. Reg. No.: |
1200-01-047053 (Osaka-Nishiku) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, export, wholesale of industrial chemicals |
|
|
|
|
No. of Employees : |
7 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 |
FUJI KASEI CO LTD
Fuji Kasei KK
Takasago Bldg 801, 1-13-16 Awaza Nishiku Osaka 550-0011 JAPAN
Tel: 06-6532-7431
Fax: 06-6532-7435
E-Mail address: info@fujikasei.net
Import, export, wholesale of industrial chemicals
Nil
Thailand, Taiwan
YUTAKA WATANABE, PRES
Shuji Watanabe, mgn dir
Yoshiko Watanabe, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES R/WEAK A/SALES Yen 1,298 M
PAYMENTS REGULAR CAPITAL Yen
30 M
TREND SLOW WORTH Yen (-) 373 M
STARTED 1968 EMPLOYES 7
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by Yutaka Watanabe in order to make
most of his experience in the subject line of business. This is a family-based trading firm
specializing in import, export and wholesale of industrial chemicals. Goods are exported widely to S/E Asia:
Bangladesh, Taiwan, Australia, New Zealand, Thailand, other., and imported from
China, Taiwan, Singapore, other
The sales volume for Jun/2013 fiscal term amounted to Yen 1,296 million,
an 11% down from Yen 1,446 million in the previous term. High Yen hurt export revenues in Yen
terms. The operations came back to
profitability to post Yen 115 million recurring profit and Yen 115 million net
profit, respectively, compared with Yen 183 million recurring loss and Yen 184
million net losses, respectively, a year ago.
For the current term ending Jun 2014 the recurring profit is projected
at Yen 120 million and the net profit at Yen 120 million, respectively, on a 5%
rise in turnover, to Yen 1,360 million.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements.
Date
Registered: Jul 1968
Regd
No.: 1200-01-047053
(Osaka-Nishiku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
240,000 shares
Issued:
60,000 shares
Sum:
Yen 30 million
Major
shareholders (%): Yutaka Watanabe (39), Shuji Watanabe (24), Michiko
Watanabe (16), Tadashi Watanabe (9)
No.
of shareholders: 9
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Imports, exports
and wholesales industrial chemicals: calcium chloride, zinc chloride, talc powder,
aluminum oxide, propylene glycol chlorinate, porous sulphate, sodium
hydrosulfate, copper sulphate pent hydrate, ammonium chloride, other (--100%)
Clients: [Mfrs,
wholesalers] Exports to Bangladesh, Taiwan, Australia, New Zealand, Korea,
Thailand, Malaysia, Pakistan, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nippon Light Metal Co, Mitsui Chemical Co, Central Glass, Tokuyama
Corp, Fuji Titanium Ind, Nihon Kagaku Sangyo, Nippon Shokubai Co, other
Imports from China, Taiwan, Singapore, other
Payment record: Slow
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Shinanobashi)
Resona Bank (Osaka-Nishi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2014 |
30/06/2013 |
30/06/2012 |
30/06/2011 |
|
|
Annual Sales |
|
1,360 |
1,296 |
1,446 |
1,459 |
|
Recur. Profit |
|
120 |
115 |
-183 |
-332 |
|
Net Profit |
|
120 |
115 |
-184 |
-327 |
|
Total Assets |
|
|
1,196 |
1,219 |
1,310 |
|
Current Assets |
|
|
1,402 |
1,495 |
559 |
|
Current Liabs |
|
|
492 |
742 |
1,320 |
|
Net Worth |
|
|
-373 |
-489 |
-304 |
|
Capital, Paid-Up |
|
|
30 |
30 |
30 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.94 |
-10.37 |
-0.89 |
-7.19 |
|
|
Current Ratio |
|
.. |
284.96 |
201.48 |
42.35 |
|
N.Worth Ratio |
.. |
-31.19 |
-40.11 |
-23.21 |
|
|
R.Profit/Sales |
|
8.82 |
8.87 |
-12.66 |
-22.76 |
|
N.Profit/Sales |
8.82 |
8.87 |
-12.72 |
-22.41 |
|
Notes: Forecast (or estimated) figures for the 30/06/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
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.