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Report Date : |
18.07.2014 |
IDENTIFICATION DETAILS
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Name : |
KIWA CHEMICAL INDUSTRY CO LTD |
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Registered Office : |
33 Minamitanabecho |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
29.12.1954 |
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Com. Reg. No.: |
1700-01-000993
(Wakayama-Wakayama) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of dyestuffs such as disperse, acid, reactive,
transfer printing, action types), plastic colorings & naphthaol |
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No. of Employees |
160 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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. 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 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
exceeds 225% 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.
|
Source
: CIA |
KIWA CHEMICAL
INDUSTRY CO LTD
Kiwa Kagaku Kogyo
KK
33 Minamitanabecho
Wakayama 640-8254 JAPAN
Tel:
073-423-3211
Fax:
073-425-9338
URL: Error! Hyperlink reference not valid.
E-Mail address: web-master@kiwa-chem.com
Manufacturer of dyestuffs such as disperse, acid, reactive, transfer printing, action types), plastic colorings &
naphthaol
Nil
Omatsu,
Kinokawa (--Wakayama)
SHUNJI
MAEKAWA, PRES Noboru
Eto, ch
Yasunori Nakashiba, s/mgn dir Masanori Furuta, mgn dir
Shigeo Yukawa, mgn dir Kazushige Shoji, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 5,361 M
PAYMENTS No
Complaints CAPITAL Yen 20
M
TREND STEADY WORTH Yen 6,024 M
STARTED 1954 EMPLOYES 160
MFR OF
DYESTUFFS & REFLECTIVE SHEETING.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a division separated from Sakai Trading Co Ltd, trading house specializing in chemicals, Osaka, and became independent. Specializes in mfg various types of dyestuffs, reflective sheeting (See OPERATION) owned by Takimoto family. Materials are imported. Goods are shipped to mfrs, wholesalers, other.
The sales volume for Dec/2013 fiscal term amounted to Yen 5,361 million,
a 13% sharp rise from Yen 4,765 million in the previous term. Sales increased to road marks and digital
printing industries. The recurring
profit was posted at Yen 424 million and the net profit at Yen 212 million,
respectively, compared with Yen 59 million recurring profit and Yen 25 net
profit, respectively, a year ago.
For the current term ending Dec 2014 the recurring profit is projected
at Yen 440 million and the net profit at Yen 220 million, respectively, on a 4%
rise in turnover, to Yen 5,600 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 199.9 million, on 30 days normal terms.
Date Registered: 29
Dec 1954
Regd No.: 1700-01-000993
(Wakayama-Wakayama)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued:
40,000 shares
Sum: Yen 20 million
Major shareholders (%): Sumiyo Takimoto (27), Mikiko
Takimoto (23), Yasunori Nakashiba (23), Okahata Sangyo KK (10)
No. of shareholders: 19
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
dyestuffs: disperse, acid, reactive, transfer printing, action types),plastic
colorings, naphthaol, other (--100%)
Clients: [Mfrs,
wholesalers] Sumisho Plastic, Sakai Trading Co, OG Corp, Shinwa Sangyo,
Moriroku Chemicals, Nikka Fine Techno, Emori & Co, Okamoto Dyes, other
No. of accounts: 300
Domestic areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs,
wholesalers] Sakai Trading, Okahara Sangyo, Shinwa Sangyo, Koa & Co, Sankyo
Shoji, Moriroku Chemicals, other.
Payment record: No Complaints
Location: Business area in
Wakayama. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Kiyo Bank (H/O)
Shoko Chukin Bank (Wakayama)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
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Annual
Sales |
|
5,600 |
5,361 |
4,765 |
5,249 |
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Recur.
Profit |
|
440 |
424 |
59 |
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Net
Profit |
|
220 |
212 |
25 |
10 |
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Total
Assets |
|
|
10,360 |
10,052 |
10,703 |
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Current
Assets |
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|
5,471 |
4,944 |
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Current
Liabs |
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|
2,005 |
1,687 |
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Net
Worth |
|
|
6,024 |
5,814 |
5,791 |
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Capital,
Paid-Up |
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|
20 |
20 |
20 |
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Div.Ttl
in Million (¥) |
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|
2 |
2 |
2 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.46 |
12.51 |
-9.22 |
-3.32 |
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Current Ratio |
|
.. |
272.87 |
293.06 |
.. |
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N.Worth Ratio |
.. |
58.15 |
57.84 |
54.11 |
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R.Profit/Sales |
|
7.86 |
7.91 |
1.24 |
.. |
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N.Profit/Sales |
3.93 |
3.95 |
0.52 |
0.19 |
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Return On Equity |
.. |
3.52 |
0.43 |
0.17 |
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Notes:
Forecast (or estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.14 |
|
|
1 |
Rs.103.00 |
|
Euro |
1 |
Rs.81.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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 |
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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 |
-- |
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.