MIRA INFORM REPORT
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Report Date : |
27.01.2014 |
IDENTIFICATION DETAILS
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Name : |
OG CORPORATION |
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Registered Office : |
4-1-43 Miyahara
Yodogawaku |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
January 1923 |
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Com. Reg. No.: |
1200-01-054400 ( |
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Legal Form : |
Limited Company (Kanushiki Kaisha) |
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Line of Business : |
Trading house specializing in Industrial Chemicals. |
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No. of Employees : |
471 |
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 |
COMPANY NAME
OG CORPORATION
REGD NAME
O. G. KK
MAIN OFFICE
4-1-43 Miyahara
Yodogawaku Osaka 532-0003 JAPAN
Tel:
06-6395-5100
Fax: 06-6395-5115
*.. The is its
Tokyo Head Office at: 2-8-7 Nihombashi-Honcho Chuoku Tokyo, as given
URL: Error! Hyperlink reference not valid.
E-Mail address: honsha@ogcorp.co.jp/ (each division has its
own E-mail address)
ACTIVITIES
Import, export,
wholesale of industrial chemicals
BRANCHES
Tokyo, Sapporo,
Nagoya, Takamatsu, Fuji, Hiroshima, Fukuoka, other (Tot 14)
OVERSEAS
Mumbai, Shanghai (Affiliates): China (4,
including one in Hong Kong), USA (2), Taiwan, Korea, UK, Dubai, Thailand
OFFICERS
FUKUI EIJI, PRES Hiroyuki Takano, ch
Norio Katoh, s/mgn dir Junzo Takahashi, mgn dir
Takeyasu Yasuda, mgn dir Tetsuya Fukuda, mgn dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 104,017 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
1,110 M
TREND SLOW WORTH Yen
10,755 M
STARTED 1923 EMPLOYES 471
COMMENT
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ODINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
This is an old-established
trading house founded on the basis of the merger of 5 local dye-trading houses,
as Osaka Godo Co Ltd. In Jul 1991
renamed as captioned. Specializes in
import, export and wholesale of industrial chemicals, such as pigments,
dyestuff, paints, resins, pharmaceutical ingredients, food additives, and
others. The firm operates 6 core
business divisions: color & fine chemicals, paper & pulps, chemicals,
plastics, electronic materials, and R&D divisions (See OPERATION for details & products). Top-ranked in dyestuffs & pigments. Goods are imported from and exported to
India, Taiwan, China, USA, etc. Domestic
clients total 3,300 nationwide.
Brief history: Jun 1958, founded Daiwa Chemical Ind (mfr
of textile chemicals & industrial chemicals; Mar 1963, capital
participation in Nitto Plastics Co (synthetic resign molding); Apr 1987,
founded Suzukawa Chemical Ind (mfr of industrial chemicals); Dec 1971, founded
Toa Kasei Co (mfr of industrial chemicals); Jul 1980, founded OG Chemical Ind
(mfr of industrial chemicals); Sept 1982, moved the head office to the caption
address; Aug 1983, opened Osakagodo America Inc; Sept 1985, capital
participation in Yamago Kasei Ind (synthetic resin molding); Oct 1990, founded
ICG Co Ltd (import/export of chemical products); Jul 1991, renamed as
captioned; Sept 1995, founded FO Tec Co (mfr of industrial chemicals); Oct
1995, founded OG Asia (Taiwan) Corp (import/export of chemical products); Dec
1995, founded Qingdao OG Plastic Products Co (mfr of synthetic resin products);
Apr 1996, founded OG Wakayama Co (wholesale of chemicals); Oct 1997, capital
participation in Daido Sangyo Co (wholesale of chemicals); Dec 1997, founded
Shanghai OG Trading Co (import/export of chemical products); Apr 1999, founded
NOAC Co Ltd (design/plan/development of computer software); Apr 2002, founded
OG Film Co (film mfr, product processing & sales); Oct 2002, founded
Shanghai OG T&D Techno Co (laboratory center, mfr of dyestuff & dyeing
auxiliaries); Aug 2003, capital participation in Ike Trading Co.
FINANCIAL INFORMATION
The sales volume
for Mar/2013 fiscal term amounted to Yen 104,017 million, a 10% down from Yen
115,011 million in the previous term.
Exports into China decreased due to the economic slowdown in the
country. High Yen also hurt sales for
imports & exports, decreasing revenues in Yen terms. The recurring profit was posted at Yen 460
million and the net profit at Yen 436 million, respectively, compared with Yen
650 million and Yen 284 million net profit, respectively, a year ago.
For the current
term ending Mar 2014 the recurring profit is projected at Yen 500 million and
the net profit at Yen 500 million, on a 10% rise in turnover, to Yen 114,500
million. Pharmaceuticals including
generic drugs will grow. Weaker Yen will
contribute to raise earnings in Yen terms.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
REGISTRATION
Date
Registered: Jan 1923
Regd No.:
1200-01-054400 (Osaka-Yodogawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 60 million shares
Issued: 15 million shares
Sum: Yen 1,110 million
Major shareholders
(%): Company’s Treasury Stock (22.7), Employees’ S/Holding Assn (6.7), Mizuho
Bank (3.6)), MUFG (3.6), SMBC (3.5), Fukusuke Ikeda (3.3)
No. of shareholders: 309
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: A trading house for
import, export and wholesale of dyestuffs, pigments, tex-tile chemicals,
industrial & fine chemicals, paints, raw resins, and their finished
products, pharmaceutical ingredients, reprographic materials, food additives,
other industrial chemicals (--100%)
Overseas
trading ratio (22%) covering Asia, USA, etc).
BUSINESS DIVISIONS
(major handling products)
Color & fine
chemicals: Dyestuffs, Pigments, Textile auxiliaries, Antibacterial agent,
Germicide, Flame retardant, Non-woven fabric, CCM, Colorimeters, Automatic
color matching devices, Raw material for medicine and agricultural chemicals,
Organic intermediates and Fragrant materials.
Paper & pulps: All sorts of
chemicals used in every process of paper mfg, non-wood pulp, such as kenaf
& bamboo, used paper recycling
Chemicals: Organic
chemicals, Industrial chemicals, Inorganic chemicals, Acrylic resins, Epoxy
resins and basic ingredients of the following items- Paint/Ink, Electronic
components, Urethane and other resins, Transport equipment accessories,
Synthetic leathers, Surfactants, Food related materials, Building materials,
Acrylic resins and Epoxy resins.
Plastic: Raw resins, resin
additives, films, sheets, laminated manufactured products, injection-molded
parts, extrusion-molded parts, blow-molded parts, packaging-related machines,
bolding-related machines
Electronic
Materials: Color filters, Pigment dispersing agents, Overcoat materials,
Anti-reflection materials, Toner binder resins, Charge control agents, Ink,
Image receiving sheets, Dyestuffs, Pigments, Base film sheets, Insulation
sheets, Electrode materials, Resist solvents, Sensitizers, Near-infrared ray
absorbents, Ultraviolet absorbents
R&D Division
(projects): Specialty chemicals, pharmaceuticals, China projects, specialty films, new
materials, etc.
Clients: [Chemical mfrs,
wholesalers, specialty traders] Nippon Paper Ind, DIC Corp, AICA Inc, Oji Paper
Ind, Fukusuke Kogyo Co, Dynic Corp, Daio Paper Ind, Daiichi Kigenso Kagaku
Kogyo Co, Wako Ind Co, Fujicopian Co, Mitsui Chemical, other
No. of accounts: 3,300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsui & Co, DIC Corp,
Nippon Kayaku, Sanyo Chemical Ind, Fimatec Ltd, Daiwa Chemical Ind, Clariant
Japan, Mitsui Chemicals Tohcello Inc, Prime Polymer, other.
Payment record: No Complaints
Location: Business area in Osaka.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Mizuho Bank (Minamisemba)
MUFG (Semba-Chuo)
Relations: Satisfactory.
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual
Sales |
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114,500 |
104,017 |
115,011 |
117,454 |
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Recur.
Profit |
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500 |
460 |
650 |
901 |
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Net
Profit |
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500 |
436 |
284 |
407 |
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Total
Assets |
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59,823 |
61,421 |
62,699 |
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Current
Assets |
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43,194 |
46,717 |
47,162 |
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Current
Liabs |
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38,714 |
40,047 |
47,266 |
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Net
Worth |
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10,755 |
10,040 |
9,769 |
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Capital,
Paid-Up |
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1,110 |
1,110 |
1,110 |
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Div.P.Share(¥) |
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242.00 |
11.00 |
11.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
10.08 |
-9.56 |
-2.08 |
6.63 |
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Current Ratio |
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111.57 |
116.66 |
99.78 |
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N.Worth Ratio |
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17.98 |
16.35 |
15.58 |
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R.Profit/Sales |
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0.44 |
0.44 |
0.57 |
0.77 |
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N.Profit/Sales |
0.44 |
0.42 |
0.25 |
0.35 |
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Return On Equity |
.. |
4.05 |
2.83 |
4.17 |
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Notes: Forecast figures
for the 31/03/2014 fiscal term.
INFORMATION DETAILS
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Report Prepared
by : |
DPT |
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.