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Report Date : |
24.02.2014 |
IDENTIFICATION DETAILS
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Name : |
CLARIANT ( |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
September 1966 |
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Com. Reg. No.: |
0100-01-002343
(Tokyo-Bunkyoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of specialty chemicals including textiles,
leather & paper chemicals, pigments & additives, functional
chemicals, emulsion, detergents & intermediates, functional materials, pigments, coatings
& coloring agents |
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No. of Employees |
182 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 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.
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Source : CIA |
CLARIANT (JAPAN) KK
Clariant Japan KK
Bunkyo Green Court
9F, 2-28-8 Honkomagome Bunkyoku Tokyo 113-8662 JAPAN
Tel:
03-5977-7880 Fax: 03-5977-7883
URL: http://www.clariant.co.jp/
E-Mail address: recuitCJ@clariant.co.jp
Mfg of
specialty chemicals
Osaka
Shizuoka
NORIO MITSUNARI,
PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 21,218 M
PAYMENTSNo Complaints
CAPITAL Yen 450 M
TREND SLOW WORTH Yen 4,915 M
STARTED 1966 EMPLOYES 182
MFR SPECIALIZING IN SPECIALTY CHEMICALS, WHOLLY OWNED BY
CLARIANT PARTIPATIONS
BV, SWITZ.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUISNESS ENGAGEMENTS
The subject company was established by Clariant BV, Switz as its mfg
& marketing base in Japan. The firm
specializes in mfg specialty chemicals, pigments & additives, leather &
paper chemicals, textiles & plastics.
Materials are supplied from the Switz parent and its group firms. Clients are major chemicals mfrs, wholesalers,
other.
The sales volume for Dec/2012 fiscal term amounted to Yen 21,218
million, a 10% down from Yen 23,644 million in the previous term. The recurring profit was posted at Yen 1,855
million and the net profit at Yen 1,071 million, respectively, compared with
Yen 2,823 million recurring profit and Yen 1,677 million net profit,
respectively, a year ago.
For the term that ended Dec 2013 the recurring profit was projected at
Yen 1,900 and the net profit at Yen 1,100 million, respectively, on a 1% rise
in turnover, to Yen 21,500 million.
Final results are yet to be produced.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Sept 1966
Regd No.: 0100-01-002343 (Tokyo-Bunkyoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 2
million shares
Issued:
2 million shares
Sum: Yen 450 million
Major shareholders (%): Clariant Participations BV
(Switz) (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
specialty chemicals: textiles, leather & paper chemicals, pigments &
additives, functional chemicals, emulsion, detergents & intermediates, functional materials, pigments, coatings,
coloring agents, others (--100%).
Materials and products are supplied from the Switz parent and its group
firms.
Clients: [Mfrs,
wholesalers] OG Corp, Morishita & Co, Dainichiseika Color & Chemicals,
Yamamoto Trading, Miki & Co, DIC Corp, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Supplied from Clariant and group firms, Wacker-Chemie AG, Huayi
Trading Hong Kong Ltd, other.
Domestically supplied from: Mitsui Chemical, Aoki Oil Ind, Nippon
Peroxide, Kao Corp, Fuso Chemical, OG Corp, other.
Payment record: No
Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
SMBC (Akasaka-Sanno)
MUFG (Aoyamadori)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
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Annual
Sales |
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21,500 |
21,218 |
23,644 |
23,630 |
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Recur.
Profit |
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1,900 |
1,855 |
2,823 |
2,980 |
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Net
Profit |
|
1,100 |
1,071 |
1,677 |
1,758 |
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Total
Assets |
|
|
11,642 |
12,298 |
12,930 |
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Current
Assets |
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|
7,671 |
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8,999 |
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Current
Liabs |
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6,093 |
|
6,093 |
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Net
Worth |
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4,915 |
6,790 |
5,617 |
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Capital,
Paid-Up |
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|
450 |
450 |
450 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.33 |
-10.26 |
0.06 |
15.88 |
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Current Ratio |
|
.. |
125.90 |
.. |
147.69 |
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N.Worth Ratio |
.. |
42.22 |
55.21 |
43.44 |
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R.Profit/Sales |
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8.84 |
8.74 |
11.94 |
12.61 |
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N.Profit/Sales |
5.12 |
5.05 |
7.09 |
7.44 |
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Return On Equity |
.. |
21.79 |
24.70 |
31.30 |
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Notes:
Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
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UK Pound |
1 |
Rs.103.44 |
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Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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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 |
-- |
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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.