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Report Date : |
25.04.2014 |
IDENTIFICATION DETAILS
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Name : |
DYSTAR JAPAN LTD |
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Registered Office : |
Shin-Toyama Bldg 5F, 1-7-20 Azuchimachi Chuoku Osaka 541-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
July, 1995 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of dyestuffs such as disperse dyes, reactive dyes, indigo dyes, direct dyes, chrome dyes, vat dyes, sulfur dyes, basis dyes, acid dyes, azoic dyes & pigment resin colors |
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No. of Employees : |
55 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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. 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 |
DYSTAR JAPAN LTD
REGD NAME: Dystar Japan KK
MAIN OFFICE: Shin-Toyama Bldg 5F, 1-7-20 Azuchimachi Chuoku
Osaka 541-0052 JAPAN
Tel:
06-6263-6673 Fax: 06-6263-6690
E-Mail address: DyStar.Japan@DyStar.com
Manufacturer of dyestuffs such as disperse dyes, reactive
dyes, indigo dyes, direct dyes, chrome dyes, vat dyes, sulfur dyes, basis dyes,
acid dyes, azoic dyes & pigment
resin colors
Omuta (Fukuoka-Pref)
Omuta (Fukuoka-Pref)
KOJI TAKASE, PRES
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 5,272 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 4,730 M
TREND UP WORTH Yen 2,682 M
STARTED 1995 EMPLOYES 55
MFR OF DYESTUFFS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established as a JV by Hoechst Ag & Bayer
(--Germany). Succeeded the dyestuffs operations
of Bayer KK, Bayer Chemicals and Mitsubishi Kasei Bayer KK and started
producing dyestuffs. In Oct 2002,
integrated Mitsui BASF Dyestuff KK.
Materials are supplied from DyStar group firms. In 2013 launched
producing dyestuffs/chemicals for foreman uniforms. Clients include major apparel mfrs,
wholesalers, other, nationwide.
The sales volume for Dec/2012 fiscal term amounted to Yen 5,270 million,
a 15% up from Yen 4,583 million in the previous term. Newly produced dyestuffs for fireman uniforms
fared well and contributed to sales growth.
The recurring profit was posted at Yen387 million and net profit at Yen
446 million, respectively, compared with Yen 93 million recurring profit and
Yen 52 million net losses, respectively, a year ago.
For the term that ended Dec 2013 the recurring profit was projected at
Yen 500 million and the net profit at Yen 450 million, respectively, on a 4%
rise in turnover, to Yen 5,500 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date
Registered: Jul 1995
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 94,600
shares
Issued: 94,600
shares
Sum:
Yen
4,730 million
Major
shareholders (%): Longchamp China (62)
Kiri Industries India (38)
No. of shareholders: 2
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Manufactures dyestuffs:
disperse dyes, reactive dyes, indigo dyes, direct dyes, chrome dyes, vat dyes,
sulfur dyes, basis dyes, acid dyes, azoic
dyes, pigment resin colors, other (--100%).
Goods are both imported and exported.
Clients: [Mfrs,
wholesalers] Nagase & Co, MK Dyes, Indigo Dyestuffs, MK Dyestuffs, Kinryo
Co, Soryu Co, Miki & Co, Maeda Industrial Chemicals, Nippon Shizai Co,
Okamoto Dyestuff Co, other
No. of accounts: 500
Domestic areas of activities: nationwide
Suppliers: [Mfrs,
wholesalers] DyStar Group firms
Payment
record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Mizuho Bank (Semba)
MUFG (Kawaramachi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual Sales |
|
5,500 |
5,272 |
4,583 |
5,527 |
|
Recur. Profit |
|
500 |
387 |
93 |
221 |
|
Net Profit |
|
450 |
93 |
-52 |
914 |
|
Total Assets |
|
|
5,348 |
3,864 |
4,343 |
|
Current Assets |
|
|
4,686 |
3,096 |
3,357 |
|
Current Liabs |
|
|
1,935 |
1,127 |
1,684 |
|
Net Worth |
|
|
2,682 |
2,235 |
2,287 |
|
Capital, Paid-Up |
|
|
4,730 |
4,730 |
4,730 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.32 |
15.03 |
-17.08 |
20.60 |
|
|
Current Ratio |
.. |
242.17 |
274.71 |
199.35 |
|
|
N.Worth Ratio |
.. |
50.15 |
57.84 |
52.66 |
|
|
R.Profit/Sales |
9.09 |
7.34 |
2.03 |
4.00 |
|
|
N.Profit/Sales |
8.18 |
1.76 |
-1.13 |
16.54 |
|
Notes: Forecast (or estimated) figures for the 31/12/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.