MIRA INFORM REPORT

 

 

Report Date :

25.03.2014

 

IDENTIFICATION DETAILS

 

Name :

DYSTAR JAPAN LTD

 

 

Registered Office :

Shin-Toyama Bldg 5F, 1-7-20 Azuchimachi Chuoku Osaka 541-0052

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

July, 1995

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Manufactures dyestuffs: disperse dyes, reactive dyes, indigo dyes, direct dyes, chrome dyes, vat dyes, sulfur dyes, basis dyes, acid dyes, azoic  dyes, pigment resin colors, other (--100%).

 

 

No. of Employees :

55

 

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

 

COMPANY NAME AND ADDRESS

 

DYSTAR JAPAN LTD

REGD NAME:   Dystar Japan KK

MAIN OFFICE:  Shin-Toyama Bldg 5F, 1-7-20 Azuchimachi Chuoku Osaka 541-0052 JAPAN

                        Tel: 06-6263-6673     Fax: 06-6263-6690

 

URL:                             http://www.DyStar.com/

E-Mail address:            DyStar.Japan@DyStar.com

 

 

ACTIVITIES     

 

Mfg of dyestuffs

 

 

BRANCHES     

 

Omuta (Fukuoka-Pref)

 

 

FACTORIES    

 

Omuta (Fukuoka-Pref)

 

 

OFFICER(S)     

 

KOJI TAKASE, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 5,272 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 4,730 M

TREND             UP                                WORTH            Yen 2,682 M

STARTED         1995                             EMPLOYES      55

                       

                                               

COMMENT      

 

MFR OF DYESTUFFS. 

                       

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR    ORDINARY BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 210.4 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established as a JV by Hoechst Ag & Bayer (--Germany).  Succeeded the dyestuffs operations of Bayer KK, Bayer Chemicals and Mitsubishi Kasei Bayer KK and started producing dyestuffs.  In Oct 2002, integrated Mitsui BASF Dyestuff KK.  Materials are supplied from DyStar group firms. In 2013 launched producing dyestuffs/chemicals for foreman uniforms.  Clients include major apparel mfrs, wholesalers, other, nationwide.

           

 

FINANCIAL INFORMATION

 

The sales volume for Dec/2012 fiscal term amounted to Yen 5,270 million, a 15% up from Yen 4,583 million in the previous term.  Newly produced dyestuffs for fireman uniforms fared well and contributed to sales growth.  The recurring profit was posted at Yen387 million and net profit at Yen 446 million, respectively, compared with Yen 93 million recurring profit and Yen 52 million net losses, respectively, a year ago.

 

For the term that ended Dec 2013 the recurring profit was projected at Yen 500 million and the net profit at Yen 450 million, respectively, on a 4% rise in turnover, to Yen 5,500 million.  Final results are yet to be released.

           

The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 210.4 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:                       Jul 1995

Legal Status:                            Limited Company (Kabushiki Kaisha)

Authorized:                             94,600 shares

Issued:                                    94,600 shares

Sum:                                        Yen 4,730 million

Major shareholders (%):           Longchamp China (62) Kiri Industries India (38)

No. of shareholders:                 2

 

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

 

 

OPERATION

 

Activities: Manufactures dyestuffs: disperse dyes, reactive dyes, indigo dyes, direct dyes, chrome dyes, vat dyes, sulfur dyes, basis dyes, acid dyes, azoic  dyes, pigment resin colors, other (--100%).

 

Goods are both imported and exported.

 

Clients: [Mfrs, wholesalers] Nagase & Co, MK Dyes, Indigo Dyestuffs, MK Dyestuffs, Kinryo Co, Soryu Co, Miki & Co, Maeda Industrial Chemicals, Nippon Shizai Co, Okamoto Dyestuff Co, other

No. of accounts: 500

Domestic areas of activities: nationwide

Suppliers: [Mfrs, wholesalers] DyStar Group firms

 

Payment record: No Complaints

 

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

 

Bank References:

Mizuho Bank (Semba)

MUFG (Kawaramachi)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

       Terms Ending:

31/12/2013

31/12/2012

31/12/2011

31/12/2010

Annual Sales

　

5,500

5,272

4,583

5,527

Recur. Profit

　

500

387

93

221

Net Profit

　

450

93

-52

914

Total Assets

　

　

5,348

3,864

4,343

Current Assets

　

　

4,686

3,096

3,357

Current Liabs

　

　

1,935

1,127

1,684

Net Worth

　

　

2,682

2,235

2,287

Capital, Paid-Up

　

　

4,730

4,730

4,730

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.32

15.03

-17.08

20.60

    Current Ratio

..

242.17

274.71

199.35

    N.Worth Ratio

..

50.15

57.84

52.66

     R.Profit/Sales

9.09

7.34

2.03

4.00

    N.Profit/Sales

8.18

1.76

-1.13

16.54

 

Notes: Forecast (or estimated) figures for the 31/12/2013 fiscal term

 

 

 

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.