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Report Date : |
05.05.2014 |
IDENTIFICATION DETAILS
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Name : |
AKROS TRADING CO LTD |
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Registered Office : |
Shiba Park Bldg B-Wing 5F, 2-4-1 Shibakoen Minatoku Tokyo 105-8508 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
April, 1932 |
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Com. Reg. No.: |
0104-01-031626 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of steel materials, building materials,
electronics |
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No. of Employees : |
143 |
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 : |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
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 |
AKROS TRADING CO
LTD
REGD NAME: KK Akros Shoji
MAIN OFFICE: Shiba Park Bldg B-Wing 5F, 2-4-1 Shibakoen
Minatoku Tokyo 105-8508 JAPAN
Tel:
03-5405-6000
Fax:
03-5405-6034
URL: http//:www.akros-trading.com
E-mail: (thru
the URL)
Import, export, wholesale of steel materials, building materials,
electronics
Sapporo, Osaka, Nagoya, Fukuoka, Oita, Yawata, other (Tot 11)
Taiwan (2), China (3), Hong Kong, Singapore, India, Korea, Malaysia,
Indonesia
MAMORU HOSHI, PRE S Shigeru Matsumoto, s/mgn dir
Shoji Okabe, mgn dir Hsu
Tzyh Lih, mgn dir
Ryoichi Yamamoto dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen
47,746 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
1,200 M
TREND UP WORTH Yen
2,814 M
STARTED 1932 EMPLOYES 143
TRADING FIRM SPECIALIZING IN CHEMICALS, STEEL MATERIALS, OTHER,
AFFILIATED WITH DENKI KAGAKU KOGYO KK
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
The subject company was established by a local entrepreneur in order to
wholesale chemicals and steel products, names as Hissan Trading Co Ltd. Incorporated in 1932 and the firm became a
subsidiary of Denki Kagaku Kogyo KK (See REGISTRATION). In Aug 2010, transferred the business
operations from a subsidiary, Aiko Chemical Co Ltd. In Oct 2012, merged with Rokko Shoji KK and
renamed as captioned. This is a trading
firm specializing in import, export and wholesale of industrial chemicals,
steel mfg materials, paper-related products, electronics, other. Has eight overseas subsidiaries in Hong Kong,
Taiwan, Singapore, India, Korea, China, Indonesia, and Malaysia.
The sales volume for Mar/2013 fiscal term amounted to Yen 47,746
million, a 6% up from Yen 45,218 million in the previous term. This is attributed to the said merger of
Rokko Shoji KK. The recurring profit
was posted at Yen 226 million and the net profit at Yen 151 million,
respectively, compared with Yen 258 million recurring profit and Yen 160
million net profit, respectively, a year ago.
.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 250 million and the net profit at Yen 200 million, respectively, on a
21% rise in turnover, to Yen 57,600 million.
The said merger will contribute to the sales growth for the full term. It also integrated 7 operation divisions into
4 to align operations.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr 1932
Regd No.: 0104-01-031626 (Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 36 million shares
Issued: 26,025,856
shares
Sum: Yen 1,200 million
Major shareholders
(%):
Denki Kagaku Kogyo KK* (68.4), Japan Pulp & Paper (13.2), Mizuho Bank (3.9)
No. of
shareholders: 72
* Leading second-tier comprehensive chemical mfr, Tokyo, founded 1915,
listed Tokyo S/E, capital Yen 36,998 million, sales Yen 361,645 million,
operating profit Yen 18,817 million, recurring profit Yen 17,824 million, net
profit Yen 11,255 million, total assets Yen 419,548 million, net worth Yen
184,022 million, employees 5,206, pres Shinsuke Yoshitaka
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Trading firm for
import, export and wholesale of:
Chemicals &
Plastics (34%): inorganic chemicals, solvents, monomers, adhesives, synthetic resins,
plastics, packaging materials, plastic films, plastic sheets;
Steel & Iron
Materials & Welding Materials (19%): ferroalloys, stainless scraps, refractory
metals, stainless steel plates, pipes, titanium, welding materials,
high-pressure gases, fire-proof cement, high-pressure gas vessels, waste water
disposal facilities;
Paper-Related
Products (11%): paper-related chemicals, silicon, adhesives, pulps, waste paper, other;
Building Materials
(11%): cement, admixtures, water-proof materials, construction & building
materials, water-proof works, floorings, others;
High-Functional Chemicals (17%): synthetic
rubber, conveyor belts, adhesives, sponge wet suits, cables, gloves, wipers,
air suspensions, car motor cycle parts, hoses, boots;
Electronics
Materials (8%): semiconductor related materials, LCD-related materials, photo-resist
materials, other.
Clients: [Mfrs,
wholesalers] Oji Paper Ind, Itochu Plastics, Denki Kagaku Kogyo, NEC Semiconductors
Kansai, Nippon Steel & Sumikin Metal Corp, Sanyo Chemical Ind, Shinsho
Corp, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Denki Kagaku Kogyo, BASF Catalysts LLC, Toagosei Co, Tokyo Ohka
Kogyo, other
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Uchisaiwaicho)
SMBC
(Kyobashi)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
57,600 |
47,746 |
45,218 |
48,190 |
|
Recur. Profit |
|
250 |
226 |
258 |
318 |
|
Net Profit |
|
200 |
151 |
160 |
178 |
|
Total Assets |
|
|
19,720 |
16,713 |
16,939 |
|
Current Assets |
|
|
16,657 |
14,669 |
14,877 |
|
Current Liabs |
|
|
15,768 |
13,683 |
13,992 |
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Net Worth |
|
|
2,874 |
2,465 |
2,416 |
|
Capital, Paid-Up |
|
|
1,200 |
1,200 |
1,200 |
|
Div.P.Share(¥) |
|
|
3.00 |
3.00 |
3.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
20.64 |
5.59 |
-6.17 |
8.18 |
|
|
Current Ratio |
.. |
105.64 |
107.21 |
106.33 |
|
|
N.Worth Ratio |
.. |
14.57 |
14.75 |
14.26 |
|
|
R.Profit/Sales |
0.43 |
0.47 |
0.57 |
0.66 |
|
|
N.Profit/Sales |
0.35 |
0.32 |
0.35 |
0.37 |
|
|
Return On Equity |
.. |
5.25 |
6.49 |
7.37 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.22 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
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 |
|
<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.