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Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
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Name : |
SHIRAISHI CALCIUM
KAISHA LTD |
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Registered Office : |
2-10-5 Doshin Kitaku Osaka 530-0035 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 (estimated) |
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Date of Incorporation : |
November 1937 |
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Com. Reg. No.: |
2200-01-059647 (Osaka-Kitaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is a trading house for import, export and wholesale of calcium carbonate, reinforcing agents & fillers, synthetic rubber & resin, rubber chemicals & plastic additives, food additives, agriculture & livestock breeding materials as well as industrial textile materials |
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No of Employees : |
183 |
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 : |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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. Prime Minister Shinzo ABE
has declared the economy his government's top priority; he has overturned his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus, monetary easing, and
structural reform. Japan joined the Trans Pacific Partnership negotiations in
2013, a pact that would open Japan's economy to increased foreign competition
and create new export opportunities for Japanese businesses. 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 is
exceeding 230% of GDP. To help raise government revenue and reduce public debt,
Japan decided in 2013 to gradually increase the consumption tax to a total of
10% by the year 2015. Japan is making progress on ending deflation due to a
weaker yen and higher energy costs, but reliance on exports to drive growth and
an aging, shrinking population pose other major long-term challenges for the
economy.
|
Source : CIA |
SHIRAISHI CALCIUM KAISHA LTD
Shiraishi Calcium
KK
2-10-5 Doshin
Kitaku Osaka 530-0035 JAPAN
Tel:
06-6358-1181 Fax: 06-5358-9036
URL: http://www.shiraishi.co.jp/
E-Mail address: international@shiraishi.co.jp
Import,
export, wholesale of industrial chemicals
Tokyo,
Sapporo, Sendai, Shizuoka, Nagoya, Hiroshima, Kumamoto
16 overseas affiliates & group companies in: China (4), Korea,
Thailand, Malaysia, Singapore, Taiwan,Hong Kong, Philippines, Vietnam,
Indonesia, and India
(Sales agents): covering 58 countries worldwide
TSUNEHIRO
SHIRAISHI, PRES Noriaki Kitagawa, v pres
Hisaya Ito, s/mgn dir Hirokazu Itakura,
mgn dir
Takeshi Tanaka, dir Kazuyoshi Sato,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 63,440 M
PAYMENTS Slow
But Correct CAPITAL Yen 231 M
TREND STEADY WORTH Yen 11,287 M
STARTED 1937 EMPLOYES 183
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED
FAIR TO GOOD AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established as a trading division by Shiraishi Kogyo KK (see REGISTRATION), in order to export calcium carbonate, manufactured by the parent, for supply to rubber industries. The firm has since expanded handling items for supply to such industries as: rubber, plastics, sealants & adhesives, paper, paints & coatings, industrial textiles, food & pharmaceuticals, agriculture & stockbreeding, with recent expansion into optical lenses and cosmetic industries. Calcium carbonate & carbon black are the major items. Present executives are the founder’s descendants. Operations cover 58 countries worldwide through 16 overseas affiliates and group firms in China, Singapore, Thailand, India, other.
The sales volume for Mar/2013 fiscal term amounted to Yen 63,440 million, a 1% down from Yen 64,312 million in the previous term. The recurring profit was posted at Yen 1,039 million and the net profit at Yen 575 million, respectively, compared with Yen 574 million recurring profit and Yen 772 million net profit, respectively, a year ago.
For the term that ended Mar 2014 the recurring profit was projected at Yen 1,100 million and the net profit at Yen 590 million, respectively, on a 5% rise in turnover, to Yen 66,600 million. Final results are yet to be released.
The financial situation is considered FAIR to GOOD and responsible for ORDINARY business engagements.
Date Registered: Nov
1937
Regd No.: 2200-01-059647 (Osaka-Kitaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 18.48 million shares
Issued: 4.62 million shares
Sum: Yen 231 million
Major shareholders (%):
Shiraishi Kogyo Kaisha Ltd*(88.2)
No. of
shareholders: 59
*.. Mfr of calcium carbonate,
Hyogo-Pref, founded 1919, capital Yen 550 million, turnover Yen 15,319 million,
net profit Yen 419 million, employees 170, pres Tsunehiro Shiraishi,
concurrently.
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading house for import, export and wholesale of calcium carbonate (16%), reinforcing agents & fillers (22%), synthetic rubber & resin (30%), rubber chemicals & plastic additives (15%), food additives, agriculture & livestock breeding materials (7%), industrial textile materials, others (10%), covering 58 countries worldwide.
(Import 50%, export 50%)
Clients: [Mfrs, wholesalers] Oji Paper, Daio Paper, Chuetsu Pulp & Paper, Toyoda Gosei, Hoya Corp, Tokai Rubber Ind, Hokuetsu Kishu Paper, Elastomix Co, Toray Dow Corning, Asahi Carbon, Tajima Inc, Nishikawa Rubber Ind, Tokai Kogyo, Marusumi Paper, other
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Tosoh Corp, Asahi Carbon, Shiraishi Kogyo KK, Tokuyama Corp, Bihoku Funka Kogyo, JSR, Tosoh Corp, Elastomix, Shipro Kasei, Ohmi Chemical Ind, Mitsui Chemical, other
Payment record: Slow But Correct
Location: Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (Namba)
MUFG (Umeda)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
66,600 |
63,440 |
64,312 |
66,217 |
|
Recur.
Profit |
|
1,100 |
1,039 |
574 |
767 |
|
Net
Profit |
|
590 |
575 |
772 |
322 |
|
Total
Assets |
|
|
28,604 |
29,249 |
27,187 |
|
Current
Assets |
|
|
24,359 |
24,879 |
21,711 |
|
Current
Liabs |
|
|
16,802 |
17,718 |
15,058 |
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Net
Worth |
|
|
11,287 |
10,655 |
10,167 |
|
Capital,
Paid-Up |
|
|
231 |
231 |
231 |
|
Div.P.Share(¥) |
|
|
20.00 |
15.00 |
15.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.98 |
-1.36 |
-2.88 |
8.84 |
|
|
Current Ratio |
|
.. |
144.98 |
140.42 |
144.18 |
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N.Worth Ratio |
.. |
39.46 |
36.43 |
37.40 |
|
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R.Profit/Sales |
|
1.65 |
1.64 |
0.89 |
1.16 |
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N.Profit/Sales |
0.89 |
0.91 |
1.20 |
0.49 |
|
|
Return On Equity |
.. |
5.09 |
7.25 |
3.17 |
|
Notes:
Forecast (or estimated) for the 31/03/2014 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.99 |
|
|
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
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Report Prepared
by : |
MNL |
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 |
|
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 |
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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 |
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-- |
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.