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Report Date : |
28.03.2014 |
IDENTIFICATION DETAILS
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Name : |
TOYOTSU CHEMIPLAS CORPORATION |
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Registered Office : |
Shinagawa Front Bldg 11F, 2-3-13 Konan Minatoku Tokyo 108-0075 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
April, 2006 |
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Reg. No.: |
0104-01-091292 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of automotive parts, IT &
electronics, industrial Chemicals, housing materials, packaging materials |
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No. of Employees : |
309 |
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 : |
Good |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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 |
TOYOTSU CHEMIPLAS
CORPORATION
REGD NAME: Toyotsu Chemiplas KK
MAIN OFFICE: Shinagawa Front Bldg 11F, 2-3-13 Konan
Minatoku Tokyo 108-0075 JAPAN
Tel:
03-4306-8660 Fax: 03-4306-8920
URL: http://www.toyotsu-chemiplas.com
E-Mail address: info@toyotsus-chemiplas.com
Import, export, wholesale of automotive parts, IT &
electronics, industrial Chemicals, housing materials, packaging materials
Osaka, Nagoya, Niigata, Shizuoka
Europe (11), Africa (7), Mid East (8), China (12), other Asia
(19), Oceania (4), N America (13), Latin America (15)
HIDEKI KANATANI, PRES Koji
Hatano, S/mgn dir
Yoshio Mizuno, s/mgn dir Toshiharu
Saito, mgn dir
Hiroshi Hosokawa, mgn dir Osamu
Moriyama, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 165,482 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 670 M
TREND STEADY WORTH Yen 9,243 M
STARTED 2006 EMPLOYES 309
TRADING HOUSE, WHOLLY OWNED BY TOYOTA TSUSHO CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established on the basis of
intra-company “Tomen Chemical Corporation” separated from Tomen Corp to become
Tomen Chemical Co Ltd. In Apr 2006, when
Tomen Corp and Toyota Tsusho Corp merged, the firm became a wholly owned
subsidiary of Toyota Tsusho Corp (See REGISTRATION). In Apr 2009, merged Toyota Tsusho group firms
and renamed as captioned. By the merger
handling items expanded to include automotive parts & materials. This is a trading house for import, export
and wholesale of automotive parts, IT & electronics, housing materials,
coating materials, foodstuffs, other, in addition to industrial chemicals. Goods are imported from and exported to worldwide
countries. Clients are major chemical
industries, pharmaceuticals, cosmetics, other, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen
165,482 million, a slight down from Yen 166,4560 million a year ago. The recurring profit was posted at Yen 3,040
million and the net profit at Yen 1,817 million, respectively, compared with
Yen 3,188 million recurring profit and Yen 1,768 million net profit,
respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is
projected at Yen 3,100 million and the net profit at Yen 1,950 million,
respectively, on a 5% rise in turnover, to Yen 173,000 million. Exports to China are decreasing, but those
for US and other Asian countries are robust and active. .
The financials situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Apr 2006
Regd No.:
0104-01-091292
(Tokyo-Minatoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 32,000 shares
Issued:
13,400 shares
Sum: Yen
670 million
Major
shareholders (%): Toyota Tsusho Corp*(100)
*.. Toyota Tsusho Corp, sole trading house in Toyota group,
Tokyo, founded 1948, listed Tokyo
S/E, capital Yen 64,936 million, turnover Yen 6,304,354 million, operating
profit Yen 115,875 million, recurring profit Yen 124,814 million, net profit
Yen 67,432 million, total assets Yen 3,707,786 million, net worth Yen 873,294
million, employees 48,336, pres Jun Kambe
Nothing detrimental is known as to the commercial morality
of executives.
Activities: Imports, exports and wholesales
industrial chemicals, others (--100%).
(Handling items by Divisions):
Automotive Parts & Materials:
various molding products, synthetic & natural rubbers, plastic materials,
auto chemical goods, automotive materials & interior/exterior materials,
urethane raw materials & products;
IT Electronics: high-functioning resin raw materials
and moldings, optics system materials & parts, semiconductor parts;
Packaging Materials: synthetic resin raw materials,
resin films & sheets, resin & containers;
Housing Materials: recycled raw materials &
environmental products, paint, ink & adhesives raw materials, synthetic
woods & products, housing materials, interior and exterior housing
materials, urethane raw materials & products;
Daily Necessities, Beauty & Health Care:
functional resin ingredients, detergent materials & products, toothpaste
& oral hygiene raw materials, medical & hygienic materials &
products, cosmetics raw materials, oleo chemicals;
Coating Materials: solvents, paint, ink & adhesive
raw materials;
Foodstuffs & Medicine Materials:
animal feed additives, functional food products, pharmaceutical raw materials
Clients: [Chemical mfrs, pharmaceuticals, other
mfrs] Toyota Tsusho Corp (6%),Sanyo Chemical Ind, Lion Corp, Takeda Chemical,
Miyoshi Fats, Asahi Kasei Chemicals, Kanebo Cosmetics, Hitachi Kasei Polymer,
Toray Ind, Showa Highpolymer, Bridgestone, Inoac Corp, Konica Minolta Group,
other.
Exports (50%) to: USA, Taiwan,
Korea, Indonesia, Singapore, Malaysia, Thailand,
Philippines, Hong Kong,
Australia, other.
No. of accounts: 1,000
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Toyota Tsusho Corp
(22.8%), Sanyo Chemical Ind, Nippon Shokubai, Tosoh, Showa Denko, Nippon
Petrochemicals, Mitsui Chemical, Mitsubishi Chemical, BASF Japan, Toyo
Aluminium, Asahi Kasei Chemicals, other
Imports (50%) from: USA, Brazil,
Germany, Spain, Italy, France, Indonesia, Taiwan, Korea, China, Malaysia, other.
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References:
MUFG (H/O)
SMBC (H/O)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
173,000 |
165,482 |
166,456 |
158,960 |
|
Recur. Profit |
|
3,100 |
3,040 |
3,188 |
2,659 |
|
Net Profit |
|
1,950 |
1,817 |
1,768 |
1,537 |
|
Total Assets |
|
|
57,535 |
59,882 |
52,994 |
|
Current Assets |
|
|
54,476 |
57,344 |
51,044 |
|
Current Liabs |
|
|
47,507 |
50,835 |
45,048 |
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Net Worth |
|
|
9,243 |
8,315 |
7,264 |
|
Capital, Paid-Up |
|
|
670 |
670 |
670 |
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Div.Ttl in Million (¥) |
|
|
884 |
770 |
750 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.54 |
-0.59 |
4.72 |
21.84 |
|
|
Current Ratio |
.. |
114.67 |
112.80 |
113.31 |
|
|
N.Worth Ratio |
.. |
16.07 |
13.89 |
13.71 |
|
|
R.Profit/Sales |
1.79 |
1.84 |
1.92 |
1.67 |
|
|
N.Profit/Sales |
1.13 |
1.10 |
1.06 |
0.97 |
|
|
Return On Equity |
.. |
19.66 |
21.26 |
21.16 |
|
Notes: Forecasts for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.13 |
|
|
1 |
Rs.99.65 |
|
Euro |
1 |
Rs.82.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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.