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Report Date : |
15.03.2014 |
IDENTIFICATION DETAILS
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Name : |
SUNSTAR INC |
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Registered Office : |
3-1 Asahimachi Takatsuki City Osaka-Pref
569-1134 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
November 1950 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of oral care goods & cosmetics including tooth
brushes, tooth pastes, shampoos & toiletries. |
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No. of Employees |
900 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 1,600.9 Million |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source : CIA |
SUNSTAR INC
Sunstar KK
3-1 Asahimachi
Takatsuki City Osaka-Pref 569-1134 JAPAN
Tel: 072-682-5541 Fax: 072-682-8162
URL: http://www.jp.sunstar.com
E-Mail address: (thru the URL)
Mfg of
tooth brushes, tooth paste, cosmetics, shampoo
Osaka,
Sendai, Tokyo, Nagoya, Sapporo, Sendai, Niigata, Hiroshima, Kanazawa, Fukuoka, other (Tot 13)
At the caption address, subcontracted (subsidiaries)
TAKASHI YOSHIOKA, PRES Kazuo Hamada, ch
Yoshiyuki Nomi, dir Atsushi Kinoshita, dir
Tomonori Hori, dir Mitsuru Tamai, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 58,922 M
PAYMENTSNo Complaints
CAPITAL Yen 10,000 M
TREND UP WORTH Yen 18,030 M
STARTED 1950 EMPLOYES 900
MFR OF ORAL CARE GOODS & COSMETICS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1,600.9 MILLION, 30 DAYS NORMAL TERMS
This is the major mfr of oral care goods & cosmetics. Manufactures tooth brushes, tooth pastes,
shampoos & toiletries. Goods are exported. Clients include supermarkets, department
stores, other, nationwide
The sales volume for Mar/2013 fiscal term amounted to Yen 58,922
million, a 2% up from Yen 57,539 million in the previous term. The recurring profit was posted at Yen 7,981
million and the net profit at Yen 3,541 million, respectively, compared with
Yen 7,453 million recurring profit and Yen 4,339 million net profit,
respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at
Yen 8,000 million and the net profit at Yen 3,600 million, respectively, on a
3% rise in turnover, to Yen 50,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 1,600.9 million, on 30 days normal terms.
Date
Registered: Nov 1950
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
80 million shares
Issued: 20 million shares
Sum: Yen 10,000 million
Major shareholders (%): SSSA, Employees’ S/Holding
Assn, Company’s Treasury Stock (--100)
No. of shareholders: 300
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures oral
care goods: tooth brushes, tooth pastes, shampoos, toiletries, others (--100%)
Clients: [Mfrs,
wholesalers] Paltac, Japan Consumer Coop’s, JTB Shoji, Tokyodo Co, JTB Trading
Corp, Suzuken Co, Shiraishi Group, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toyota Tsusho Corp, Mitsui & Co, Inabata & Co, Yoshino
Kogyosho, Daiwa Can, Yamato-Esulon Co, other
Payment record: No Complaints
Location: Business area in
Takatsuki City, Osaka-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank
References:
MUFG (Dojima)
Mizuho Corporate Bank (Osaka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
60,500 |
58,922 |
57,539 |
53,914 |
|
Recur.
Profit |
|
8,000 |
7,981 |
7,453 |
6,758 |
|
Net
Profit |
|
3,600 |
3,541 |
4,339 |
3,828 |
|
Total
Assets |
|
|
39,747 |
41,540 |
43,738 |
|
Current
Assets |
|
|
11,849 |
12,257 |
13,199 |
|
Current
Liabs |
|
|
15,683 |
18,832 |
15,368 |
|
Net
Worth |
|
|
18,030 |
14,611 |
16,475 |
|
Capital,
Paid-Up |
|
|
10,000 |
10,000 |
10,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.68 |
2.40 |
6.72 |
7.35 |
|
|
Current Ratio |
.. |
75.55 |
65.09 |
85.89 |
|
|
N.Worth Ratio |
.. |
45.36 |
35.17 |
37.67 |
|
|
R.Profit/Sales |
13.22 |
13.55 |
12.95 |
12.53 |
|
|
N.Profit/Sales |
5.95 |
6.01 |
7.54 |
7.10 |
|
|
Return On Equity |
.. |
19.64 |
29.70 |
23.24 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
UK Pound |
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
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 |
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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 |
|
|
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 |
|
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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 |
|
|
-- |
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.