MIRA INFORM REPORT

 

 

Report Date :

16.07.2014

 

IDENTIFICATION DETAILS

 

Name :

ARYSTA LIFE SCIENCE CORPORATION

 

 

Registered Office :

St Luke’s Tower 38/39F, 8-1 Akashicho Chuoku Tokyo 104-0044

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

April, 1977

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, export, wholesale of agrochemicals, pharmaceutical intermediates

 

 

No. of Employees :

100

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Status :

Moderate

Payment Behaviour :

Slow but correct

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

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately 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

 

 

 

 

Company name and address

 

ARYSTA LIFE SCIENCE CORPORATION

 

REGD NAME:    Arysta Life Science KK

MAIN OFFICE:  St Luke’s Tower 38/39F, 8-1 Akashicho Chuoku Tokyo 104-0044 JAPAN

                        Tel: 03-3547-4500    

Fax: 03-3547-4699

                       

URL:                 http://www.arystalifescience.com

E-Mail address: info@arystalifescience.com

 

 

ACTIVITIES  

 

Import, export, wholesale of agrochemicals, pharmaceutical intermediates

 

 

BRANCHES

 

Sapporo, Osaka, Fukuoka

 

 

OVERSEAS   

 

Arysta LifeScience N America, Arysta LifeScience Europe, Africa & Mid East,

Arysta LifeScience S America, Arysta LifeScience Haesom Corp (Korea),

Bloomers Growers (New Zealand), Arysta LifeScience Maqyarorszy Kft

(Hungary), Callivoire (Cote D’ivoir) (--group firms)

 

 

OFFICERS

 

HISAYA KOBAYASHI, PRESS               Rudorf Van Houten, rep dir

Christopher Richards, ch                        John Coyle, dir

Alexander Emery, dir

 

 

Yen Amount

 

In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                                         A/SALES          Yen 15,652 M

PAYMENTS      SLOW BUT CORRECT               CAPITAL           Yen 62,743 M

TREND             UP                                            WORTH            Yen 29,550 M

STARTED         1977                                         EMPLOYES      100

 

 

COMMENT    

 

TRADING HOUSE SPECIALIZING IN AGROCHEMICALS & PHARMACEU-TICAL INTERMEDIATES, OWNED BY IEIL JAPAN.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

           

           

HIGHLIGHTS

           

The subject company was established jointly by Tomen Corp (now Toyota Tsusho

Corp) and Nichimen Corp (now Sojitz Corp) in order to advance into new area of life science: agrochemicals and pharmaceutical chemicals.  This is a trading house for import, export and wholesale of agrochemicals & pharmaceutical intermediates.  Handles a wide range of brands (See OPERATION).  Active in overseas expansion.  The ownership of the firm changed to IEIL (Industrial Equity Investment Limited) Japan Co, a capital fund investor owned by IEIL Ireland (Permira Funds), in Jun/2008.  In Apr 2013 increased the capital to Yen 62,743 million from the previous Yen 59,399 million.  Domestic clients include major pharmaceuticals & chemicals mfrs, nationwide. 

 

 

FINANCIAL INFORMATION

           

The sales volume for Dec/2013 fiscal term amounted to Yen 15,652 million, a 23% up from Yen 12,685 million in the previous term.  The operations continued in the red to register Yen 26,973 million recurring loss and Yen 10,938 million net losses, respectively, compared with Yen 12,017 million recurring loss and Yen 18,108 million net losses, respectively, a year ago.

 

For the current term ending Dec 2014 the operations are projected to come back to profitability but still limited to a minimum amount post-taxes, on a 5% rise in turnover, to Yen 16,500 million.  .

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Apr 1977

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         1,187,986 shares

Issued:                1,187,986 shares

Sum:                   Yen 59,399 million

Major shareholders (%): IEIL Japan Co Ltd* (Industrial Equity Investment Ltd) (100)

* Investment fund company & management, owned by IEIL Ireland (Industrial Equity Investment Ltd), acquired the firm in Jun/2008.

           

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: A trading house for import, export and wholesale of agrochemicals, pharma-ceuticals intermediates & materials, cosmetics raw materials, health foods, organic chemical intermediates, veterinary products including veterinary medicines & feed additives, others (--100%).

 

(Handling Brands)

Select (Registered), Captain, Everest (Registered), Orthene (Registered), Elevate (Registered), Clutch, Eminent, Monitor, CaptEvate, Maestro, other.

 

Clients: [Pharmaceutical mfrs, chemical firms, wholesalers] Takeda Chemical Ind,

Toyota Tsusho Corp, Sojitz Corp, Sumitomo Chemical, Toyo Green Inc, Hokko Chemical

Ind, Yonezawa Chemical Co, other.  

No. of accounts: 1,000

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Takeda Chemical Ind, Nissan Chemical Ind, Kumiai Chemical Ind, Nippon Soda Co, Yonezawa Chemical Co, JCOM Agri Co, Maruzen Seika,  

other.

 

Payment record: Slow but correct

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

                        Aozora Bank (H/O)

                        MUFG (Marunouchi)

                        Relations: Satisfactory

 

 

FINANCES: (In Million Yen)

 

       Terms Ending:

31/12/2014

31/12/2013

31/12/2012

31/12/2011

Annual Sales

　

16,500

15,652

12,685

12,545

Recur. Profit

　

0

-26,973

-12,017

-20,400

Net Profit

　

0

-10,938

-18,108

-9,525

Total Assets

　

　

199,194

210,248

234,220

Current Assets

　

　

13,421

8,846

9,378

Current Liabs

　

　

13,243

23,108

25,493

Net Worth

　

　

29,550

41,889

53,282

Capital, Paid-Up

　

　

62,743

59,399

59,399

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.42

23.39

1.12

-31.00

    Current Ratio

 

..

101.34

38.28

36.79

    N.Worth Ratio

..

14.83

19.92

22.75

    R.Profit/Sales

 

0.00

-172.33

-94.73

-162.61

    N.Profit/Sales

0.00

-69.88

-142.75

-75.93

 

Note: Forecast (or estimated) for the 31/12/2014 fiscal term.

 

           

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.22

UK Pound

1

Rs.102.79

Euro

1

Rs.81.95

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NNA

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.