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Report Date : |
21.04.2014 |
IDENTIFICATION DETAILS
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Name : |
RYOKO CHEMICAL C LTD |
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Registered Office : |
PMO Nihombashi-Honcho Bldg, 4-12-20
Nihombashi-Honcho Chuoku Tokyo 103-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
August 1953 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of industrial fine chemicals |
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No. of Employees |
145 |
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 |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Prime Minister Shinzo ABE has declared the economy his government's top priority; he has overturned his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans Pacific Partnership negotiations in 2013, a pact that would open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. 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 is exceeding 230% of GDP. To help raise government revenue and reduce public debt, Japan decided in 2013 to gradually increase the consumption tax to a total of 10% by the year 2015. Japan is making progress on ending deflation due to a weaker yen and higher energy costs, but reliance on exports to drive growth and an aging, shrinking population pose other major long-term challenges for the economy
|
Source
: CIA |
RYOKO CHEMICAL C LTD
REGD NAME: Ryoko
Kagaku KK
MAIN OFFICE: PMO
Nihombashi-Honcho Bldg, 4-12-20 Nihombashi-Honcho Chuoku Tokyo
103-0023JAPAN
Tel:
03-6861-0050 Fax: 03-6861-0032
*.. Registered at:
1-2-18 Iwamotocho Chiyodaku Tokyo
E-Mail address: (thru the URL)
Import, export,
wholesale of industrial fine chemicals
Osaka, Fukuoka,
Sendai, Nagoya
China (2),
Singapore, Taiwan, Hong Kong, Thailand
HIDEYUKI
TAKAHASHI, PRES Shingo Hagiwara, mgn dir
Naoto Kidahashi,
mgn dir Toshikazu
Umemura, adviser
Makoto Kai, dir Seiji Ymada, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 26,161 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
100 M
TREND SLOW WORTH Yen
2,912 M
STARTED 1953 EMPLOYES 145
TRADING FIRM SPECIALIZING IN INDUSTRIAL FINE CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a trading division
separated from Mitsubishi Gas chemical Co Inc (See REGISTRATION). This is a
trading firm for import, export and wholesale of industrial fine chemicals (See
OPERATION). Exports to centrally China and S/E Asian
countries. Has six overseas offices:
China (2), Taiwan, Singapore, Thailand, and Hong Kong.
The sales volume for Mar/2013 fiscal term amounted to Yen 26,161 million,
a shade down from Yen 26,276 million in the previous term. Prices were down and demand was
sluggish. The recurring profit was
posted at Yen 123 million and the net profit at Yen 67 million, respectively,
compared with Yen 177 million recurring profit and Yen 91 million net profit,
respectively, a year ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 135 million and the net profit at Yen 80 million, respectively, on a32%
rise in turnover, to Yen 27,000 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Aug
1953
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued: 200,000 shares
Sum: Yen 100 million
Major
shareholders (%): Mitsubishi Gas Chemical Co Inc* (97.5), Tokyo Shokai (2.5)
No. of shareholders: 2
*.. Major mfr of
xylene & methanol, Tokyo, founded 1951, listed Tokyo S/E, capital
Yen 41,970, sales Yen 467,979 million,
operating profit Yen 11,421 million, recurring profit Yen 27,651 million, net
losses Yen 7,793 million, total assets Yen 663,114 million, net worth Yen
306,953 million, employees 5,460, pres Toshikiyo Kurai
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of: chemicals for semiconductor devices, chemicals
for electronic devices, chemicals for general industry use, rust or oxygen
control agents, other (--100%).
Clients: [Mfrs,
wholesalers] Mitsubishi Gas Chemical Co, Ibiden, Toray/Dow Corning, Sankei
Chemical other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsubishi Gas Chemical Co, Chung Chun Plastics Co, Mitsubishi
Corp, other
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Ohdenmacho)
SMBC (Nihombashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
27,000 |
26,161 |
26,276 |
27,925 |
|
Recur.
Profit |
|
135 |
123 |
177 |
443 |
|
Net
Profit |
|
80 |
67 |
91 |
273 |
|
Total
Assets |
|
|
12,161 |
12,425 |
12,166 |
|
Current
Assets |
|
|
11,058 |
11,323 |
11,003 |
|
Current
Liabs |
|
|
8,982 |
9,261 |
8,985 |
|
Net
Worth |
|
|
2,912 |
2,892 |
2,885 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.Ttl
in Million (¥) |
|
|
57.85 |
81.92 |
53.40 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.21 |
-0.44 |
-5.91 |
12.52 |
|
|
Current Ratio |
.. |
123.11 |
122.27 |
122.46 |
|
|
N.Worth Ratio |
.. |
23.95 |
23.28 |
23.71 |
|
|
R.Profit/Sales |
0.50 |
0.47 |
0.67 |
1.59 |
|
|
N.Profit/Sales |
0.30 |
0.26 |
0.35 |
0.98 |
|
|
Return On Equity |
.. |
2.30 |
3.15 |
9.46 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
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 |
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|
-- |
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.