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Report Date : |
07.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUNSTAR INC |
|
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|
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Registered Office : |
3-1 Asahimachi Takatsuki City Osaka-Pref 569-1134 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
Nov 1950 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures oral care goods: tooth brushes, tooth pastes,
shampoos, toiletries, cosmetics (skin care) |
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No. of Employees : |
900 |
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 |
|
Maximum Credit Limit : |
YEN 1,627.4 MILLION |
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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 |
|
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 |
SUNSTAR INC
Sunstar KK
3-1 Asahimachi
Takatsuki City Osaka-Pref 569-1134 JAPAN
Tel:
072-682-5541 Fax: 072-682-8162
URL: http://www.jp.sunstar.com
E-Mail
address: (thru the URL)
Mfg of
tooth brushes, tooth paste, cosmetics, shampoo
Osaka,
Sendai, Tokyo, Nagoya, Sapporo, Kanazawa, Fukuoka, other (Tot 13)
At the
caption address, subcontracted (subsidiaries)
TAKASHI
YOSHIOKA, PRES Kazuo Hamada, ch
Yoshiyuki
Nomi, dir Atsushi Kinoshita, dir
Tomonori
Hori, dir Mitsuru Tamai, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 58,922 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 10,000 M
TREND UP WORTH Yen 18,030 M
STARTED 1950 EMPLOYES 900
MFR OF ORAL CARE GOODS & COSMETICS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1,627.4 MILLION, 30 DAYS NORMAL TERMS
This is the
major mfr of oral care goods & cosmetics.
Manufactures tooth brushes, tooth pastes, shampoos, toiletries,
other. Goods are exported. Clients include supermarkets, department
stores, other, nationwide
The sales
volume for Mar/2013 fiscal term amounted to Yen 58,922 million, a 2% up from
Yen 57,539 million in the previous term.
The recurring profit was posted at Yen 7,981 million and the net profit
at Yen 3,541 million, respectively, compared with Yen 7,453 million recurring
profit and Yen 4,339 million net profit, respectively, a year ago.
For the
current term ending Mar 2014 the recurring profit is projected at Yen 8,500
million and the net profit at Yen 3,700 million, respectively, on a 4% rise in
turnover, to Yen 61,500 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 1,627 million, on 30 days normal terms.
Date Registered: Nov 1950
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80 million shares
Issued:
20 million shares
Sum: Yen
10,000 million
Major shareholders
(%): SSSA, Employees’ S/Holding Assn, Company’s Treasury Stock
(--100)
No. of shareholders: 300
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures oral care goods: tooth
brushes, tooth pastes, shampoos, toiletries, cosmetics (skin care), others
(--100%)
Clients: [Mfrs, wholesalers] Paltac, Japan
Consumer Coop’s, JTB Shoji, Tokyodo Co, Shiraishi Yakuhin, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Toyota Tsusho
Corp, Mitsui & Co, Inabata & Co, Yoshino Kogyosho, Daiwa Can Co,
Yamato-Esulon Co, other
Payment record: No
Complaints
Location:
Business area in Takatsuki City, Osaka-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
MUFG
(Dojima)
Mizuho
Corporate Bank (Osaka)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
61,500 |
58,922 |
57,539 |
53,914 |
|
Recur.
Profit |
|
8,500 |
7,981 |
7,453 |
6,758 |
|
Net
Profit |
|
3,700 |
3,541 |
4,339 |
3,828 |
|
Total
Assets |
|
|
39,747 |
41,540 |
43,738 |
|
Current
Assets |
|
|
11,849 |
12,257 |
13,999 |
|
Current
Liabs |
|
|
15,683 |
18,832 |
15,368 |
|
Net
Worth |
|
|
18,030 |
14,611 |
16,475 |
|
Capital,
Paid-Up |
|
|
10,000 |
10,000 |
10,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.38 |
2.40 |
6.72 |
7.35 |
|
|
Current Ratio |
|
.. |
75.55 |
65.09 |
91.09 |
|
N.Worth Ratio |
.. |
45.36 |
35.17 |
37.67 |
|
|
R.Profit/Sales |
|
13.82 |
13.55 |
12.95 |
12.53 |
|
N.Profit/Sales |
6.02 |
6.01 |
7.54 |
7.10 |
|
|
Return On Equity |
.. |
19.64 |
29.70 |
23.24 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.65.96 |
|
UK Pound |
1 |
Rs.102.91 |
|
Euro |
1 |
Rs.86.58 |
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 |
|
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.