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Report Date : |
01.04.2014 |
IDENTIFICATION DETAILS
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Name : |
NAGASE-OG COLOR & CHEMICALS CO LTD |
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Registered Office : |
Nagase Sangyo Bldg 8F, 1-1-17 Shinmachi Nishiku Osaka 550-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
January, 1957 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of textiles, industrial chemicals,
dyestuffs, direct color |
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No. of Employees : |
149 |
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 : |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
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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 2013 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 225% 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 |
NAGASE-OG COLOR
& CHEMICALS CO LTD
REGD NAME: OG Nagase Color Chemical KK
MAIN OFFICE: Nagase Sangyo Bldg 8F, 1-1-17 Shinmachi
Nishiku Osaka 550-0013 JAPAN
Tel:
06-6535-2206
Fax: 06-6535-2054
URL: http://www.ognagase.co.jp
E-Mail address: (thru the URL)
Import, export, wholesale of textiles, industrial chemicals, dyestuffs,
direct color, other
Tokyo, Nagoya, Osaka, Fukui
China (2)
YASUHIRO YAMAZAKI, PRES Kenji
Kobayashi, v pres
Teisaku Sumasu, dir Seiichi
Hikari, dir
Hiroshi Hanamoto, dir Eigoro
Kunimoto, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen
12,900 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
100 M
TREND SLOW WORTH Yen 776 M
STARTED 1957 EMPLOYES 149
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS, JOINTLY
OWNED BY NAGASE & CO LTD AND .OG CORPORATION
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established jointly by Nagase & Co Ltd and
OG Corporation (See REGISTRATION). This is a trading firm specializing in
import, export and wholesale of industrial chemicals: textiles, dyes, pigments,
dyeing chemicals, other. Goods are
supplied by the joint parents for export.
Clients include major textile mfrs, chemical makers, other.
The sales volume for Mar/2012 fiscal term amounted to Yen 12,900
million, a 14% down from Yen 14,955 million in the previous term. Sales were hit by the Great East Japan
Earthquake . The net profit was posted
at Yen 55 million, compared with Yen 150 million a year ago.
For the current term ending Mar 2013 the net profit is projected at Yen
60 million, on a 4% rise in turnover, to Yen 13,500 million. Automobile-use synthetic resins will
grow.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jan 1957
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued:
200,000 shares
Sum: Yen 100 million
Major shareholders
(%): Nagase & Co Ltd* (50), OG Corporation** (50)
No. of
shareholders: 2
Nothing detrimental is known as to the commercial morality of executives.
*.. Top-ranked trader of chemical products, Tokyo, founded 1917, listed
Tokyo, Osaka S/E’s, capital Yen 9,699 million, sales Yen 631,853 million,
operating profit Yen 13,427 million, recurring profit Yen 18,670 million, net
profit Yen 8,570 million, total assets Yen 50,742 million, net worth Yen
212,744 million, employees 5,694, pres Hirose Nagase
Consolidated Financials
are attached (See SUPPLEMENTS)
**.Trading firm specializing in industrial chemicals, Osaka, founded
1923, capital Yen 111 million, sales Yen 140,138 million, recurring profit Yen
1,338 million, net profit Yen 825 million, total assets Yen 67,733 million, net
worth Yen 12,827 million, employees 475, pres Hiroyuki Takino
Activities: Trading firm for
import, export and wholesale of industrial chemicals: textiles, dyes, pigments,
dyeing chemicals, paints, automobile-use synthetic resins, functional
materials, other (--100%)
Clients: [Mfrs,
wholesalers] Toyota Tsusho Corp, Emori & Co, Komatsu Seiki Seisakusho,
Gunze Ltd, Tokai Senko KK, Mizutani Shoten, KB Seiren Ltd, Kureha Tech, Kurabo
Ind, Suminoe Textile Co, Japan Wool Textile Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nagase & Co, OG Corp, Dyestar Japan, Clariant Japan, Nikka
Chemical, Nippon Kayaku Ltd, Japan Carlit Co, other
Payment record: No complaints
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Osaka-Nishi)
MUFG
(Otsucho)
Relations:
Satisfactory
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual Sales |
|
13,500 |
12,900 |
14,955 |
12,961 |
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Recur. Profit |
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Net Profit |
|
60 |
55 |
150 |
90 |
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Total Assets |
|
|
5,889 |
5,940 |
5,392 |
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Current Assets |
|
|
5,744 |
5,765 |
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Current Liabs |
|
|
5,045 |
5,143 |
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Net Worth |
|
|
776 |
721 |
571 |
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Capital, Paid-Up |
|
|
100 |
100 |
100 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.65 |
-13.74 |
15.38 |
-4.64 |
|
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Current Ratio |
.. |
113.86 |
112.09 |
.. |
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N.Worth Ratio |
.. |
13.18 |
12.14 |
10.59 |
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R.Profit/Sales |
.. |
.. |
.. |
.. |
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N.Profit/Sales |
0.44 |
0.43 |
1.00 |
0.69 |
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Return On Equity |
.. |
7.09 |
20.80 |
15.76 |
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Notes: Forecast (or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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 |
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<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.