|
Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
AKI SHOKAI CO LTD |
|
|
|
|
Registered Office : |
#205 Freedio-Shibakoen, 2-8-11 Shibadaimon Minatoku Tokyo
105-0012 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.05.2013 |
|
|
|
|
Date of Incorporation : |
April 1991 |
|
|
|
|
Com. Reg. No.: |
001100 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Export of industrial chemicals
& intermediates |
|
|
|
|
No. of Employees : |
04 |
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 : |
No complaints |
|
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
AKI SHOKAI CO LTD
REGD NAME: Aki Shokai KK
MAIN OFFICE: #205 Freedio-Shibakoen, 2-8-11 Shibadaimon Minatoku Tokyo 105-0012 JAPAN
Tel: 03-5425-6822
Fax: 03-5425-6833
URL: N/A
E-mail address:
akicoltd@s6.dion.ne.jp
Export of industrial chemicals
& intermediates
Nil
SHIGEAKI MORI, PRES
Junko Mori, dir
Ken’ichi Mori, dir
In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 1,488 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 10 M
TREND SLOW WORTH Yen 197 M
STARTED 1991 EMPLOYES 4
TRADING HOUSE SPECIALIZING IN
EXPORTING INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was
established by Shigeaki Mori in order to make most of his experience in the
subject line of business. This is a
small-sized trading house, owned and managed by the Mori family, specializing
in exporting industrial chemicals, their intermediates & ingredients. Destinations are centered in Asia-Pacific
region: India, Pakistan, Thailand, Singapore, Korea, Hong Kong, Australia,
China, etc. 70% of the products are
exported to India. Goods are supplied
from domestic major industrial chemical mfrs.
Also imports chemicals from India, other.
The sales volume for May/2013
fiscal term amounted to Yen 1,488 million, a 9% down from Yen 1,638 million in
the previous term. Export volumes were
decreased due to the fire at some of the client’s factories, as reported The recurring profit was posted at Yen 76
million and the net profit at Yen 46 million, respectively, compared with Yen
36 million recurring profit and Yen 20 million net profit, respectively, a year
ago.
For the current term ending May
2014 the recurring profit is projected at Yen 80 million and the net profit at
Yen 50 million, respectively, on an 8% rise in turnover, to Yen 1,600
million.
The financial situation is
considered maintained FAIR and good for ORDINARY business engagements.
Date Registered: Apr 1991
Regd No.: (Tokyo-Minatoku) 001100
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued:
200 shares
Sum: Yen
10 million
Major shareholders (%): Shigeaki Mori (99), Junko Mori (1)
No. of Shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading
house specializing in exporting industrial chemicals, intermediates &
ingredients (--100%).
Exports to: India, Thailand, Hong
Kong, Australia, Pakistan, Korea, Singapore, China, and other S/E Asian
countries.
Clients: [Chemical
mfrs, wholesalers] Exports to India (70%), China (20%), Thailand, Pakistan,
Australia, Singapore, Hong Kong, Korea, other.
Also shipped to domestic chemical
mfrs.
No. of accounts: 100 (Domestic
clients only)
Domestic areas of activities:
Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Daicel Chemical Ind, Mitsui Chemicals, Sumitomo Seika Chemicals, Air Water Inc, Nippon Carbide
Ind, other.
Also imports from India, etc.
Payment record: No
complaints
Location: Business area
in Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References: MUFG (Hamamatsucho)
Mizuho
Bank (Hamamatsucho)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/05/2014 |
31/05/2013 |
31/05/2012 |
31/05/2011 |
|
|
Annual
Sales |
|
1,600 |
1,488 |
1,638 |
1,567 |
|
Recur.
Profit |
|
80 |
76 |
36 |
31 |
|
Net
Profit |
|
50 |
46 |
20 |
20 |
|
Total
Assets |
|
|
641 |
382 |
406 |
|
Current
Assets |
|
|
383 |
267 |
336 |
|
Current
Liabs |
|
|
223 |
111 |
136 |
|
Net
Worth |
|
|
197 |
150 |
130 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
7.53 |
-9.16 |
4.53 |
5.24 |
|
|
Current Ratio |
|
.. |
171.75 |
240.54 |
247.06 |
|
N.Worth Ratio |
.. |
30.73 |
39.27 |
32.02 |
|
|
R.Profit/Sales |
|
5.00 |
5.11 |
2.20 |
1.98 |
|
N.Profit/Sales |
3.13 |
3.09 |
1.22 |
1.28 |
|
|
Return On Equity |
.. |
23.35 |
13.33 |
15.38 |
|
Notes: Forecast (or estimated)
figures for the 31/05/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.30 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.83.15 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.