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Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
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Name : |
SASAKI CHEMICAL CO LTD |
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Registered Office : |
JR Otsuka Minamiguchi Bldg 7F, 3-33-1 Minamiotsuka Toshimaku Tokyo 170-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
December, 1953 |
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Com. Reg. No.: |
0133-01-018502 (Tokyo-Toshimaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of industrial chemicals for hair care, permanent wave lotion |
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No. of Employees : |
18 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Slow but correct |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 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 |
SASAKI CHEMICAL CO
LTD
REGD NAME: Sasaki Kagaku KK
MAIN OFFICE: JR Otsuka Minamiguchi Bldg 7F, 3-33-1
Minamiotsuka Toshimaku Tokyo
170-0005 JAPAN
Tel:
03-5944-8400
Fax: 03-5957-1971
*.. Moved
to the caption address in Feb/2014 from the former as given
URL: http://www.sasaki-chem.co.jp
E-Mail address: info@sasaki-chem.co.jp
Wholesale of industrial chemicals for hair care, permanent wave lotion,
other
Osaka, Kawaguchi
China
Osaka, Kawaguchi; China
RYOITSU SASAKI, PRES
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 8,137 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 80 M
TREND UP WORTH Yen 4,591 M
STARTED 1953 EMPLOYES 18
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1943 by Ryosaku Sasaki
for mfg industrial chemicals. Incorporated
in 1953, the firm terminated the mfg operations and changed itself to a trading
firm. The firm specializes in wholesale
of industrial chemicals for hair care, permanent wave lotions, other. Completed subsidiary factories in 2012 and
sales increased sharply. Clients include
cosmetic mfrs, beauty-care goods mfrs, other, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 8,137 million,
a 17% up from Yen 6,966 million in the previous term. This is attributed to the said completion of
mfg factories at subsidiaries. Costs of
investments and repairs ate into the profits.
The recurring profit was posted at Yen 152 million and the net profit at
Yen 126 million, respectively, compared with Yen 503 million recurring profit
and Yen 300 million net profit, respectively, a year ago. Total liabilities at the term end are
reported at Yen 9,428 million.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 160 million and the net profit at Yen 135 million, respectively, on a 5%
rise in turnover, to Yen 8,550 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Dec 1953
Regd No.: 0133-01-018502 (Tokyo-Toshimaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
640,000 shares
Issued:
160,000 shares
Sum: Yen 80 million
Major shareholders
(%): Ryoitsu Sasaki (100)
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Wholesales
industrial chemicals for hair-care, permanent wave lotion: hair dyes, hair
tonic hair grease, hair growth stimulant, surfactant, others (--100%)
Clients: [Mfrs,
wholesalers] Kao Co, Kose Corp, Takara Belmont, DHC, Arimino Co, Molto Bene
Inc, Pola Chemical Ind, Moltbene Int’l, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Ajinomoto Healthy Supply, Showa Denko, Toray-Dow Corning, Sanyo Chemical Ind,
San-Ei Kagaku, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC
(Ikebukuro-Higashiguchi)
Mizuho Bank
(Otsuka)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
8,550 |
8,137 |
6,966 |
7,013 |
|
Recur. Profit |
|
160 |
152 |
503 |
432 |
|
Net Profit |
|
135 |
126 |
300 |
289 |
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Total Assets |
|
|
14,020 |
12,559 |
10,334 |
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Current Assets |
|
|
4,789 |
3,620 |
4,243 |
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Current Liabs |
|
|
1,552 |
1,054 |
1,030 |
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Net Worth |
|
|
4,591 |
4,477 |
4,188 |
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Capital, Paid-Up |
|
|
80 |
80 |
80 |
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Div.Ttl in Million (¥) |
|
|
11.8 |
11.8 |
11.8 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.08 |
16.81 |
-0.67 |
.. |
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Current Ratio |
|
.. |
308.57 |
343.45 |
411.94 |
|
N.Worth Ratio |
.. |
32.75 |
35.65 |
40.53 |
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R.Profit/Sales |
|
1.87 |
1.87 |
7.22 |
6.16 |
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N.Profit/Sales |
1.58 |
1.55 |
4.31 |
4.12 |
|
|
Return On Equity |
.. |
2.74 |
6.70 |
6.90 |
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Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.17 |
|
|
1 |
Rs.99.39 |
|
Euro |
1 |
Rs.83.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
|
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 |
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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.