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Report Date : |
21.10.2014 |
IDENTIFICATION DETAILS
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Name : |
DSM JAPAN ENGINEERING PLASTICS KK |
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Registered Office : |
Shibakoen Front Tower 8F, 2-6-3 Shibakoen Minatoku Tokyo 105-0011 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
February 1997 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Imports, exports and wholesales engineering plastics, natural resins, synthetic
resins, novamide resins, polyamide resins, other chemicals |
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No of Employees : |
57 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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. 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 |
DSM JAPAN ENGINEERING PLASTICS KK
DSM Japan
Engineering Plastics KK
Shibakoen Front Tower
8F, 2-6-3 Shibakoen Minatoku Tokyo 105-0011 JAPAN
Tel: 03-5404-8302
Fax: 03-5404-8355
URL: http://www.dsm.com
E-Mail address: (thru the URL)
ACTIVITIES: Import,
export, wholesale of engineering plastics, resins, other
BRANCHES: Osaka,
Nagoya; Yokohama (Technical Center)
OVERSEAS: Netherland
(Parent company)
OFFICERS: JOS
V RIVAN, PRES (Only phonetically spelled)
Hiroshi Yoshida, v
pres
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 16,618 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 410 M
TREND UP WORTH Yen 1,054 M
STARTED 1997 EMPLOYES 57
TRADING FIRM SPECIALIZING IN ENGINEERING PLASTICS, WHOLLY OWNED BY DUCH
CAPITAL.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by DSM Engineering Plastics BV (Netherlands) as its
market office in Japan. This is a
trading firm for import, export and wholesale of engineering plastics as a
mainline, natural resins, other chemicals.
In 2009 merged sister companies and in Jun/2010 transferred from
Mitsubishi Chemical its operation of Novamid resins and other resin
operations. In Mar 2013, founded Technical
Centers in Yokohama. Goods are supplied
from the parent and its group firms and Mitsubishi Chemical. Clients include major chemical traders,
chemical makers, other.
Financials are consolidated by the Netherland parent and only partially disclosed.
The sales volume for Dec/2013 fiscal term amounted to Yen 16,618 million, a 2% up from Yen 16,377 million in the previous term. The net profit was posted at Yen 48 million, compared with Yen 45 million a year ago.
For the current term ending Dec 2014 the net profit is projected at Yen 50 million, on a 5% rise in turnover, to Yen 17,500 million. The weaker Yen may send the earnings upwards in Yen terms.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Feb 1997
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 8,200
shares
Issued: 8,200
shares
Sum: Yen
410 million
Major
shareholders (%): DSM Engineering Plastics
BV (Netherland) (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales engineering plastics, natural resins, synthetic resins, novamide
resins, polyamide resins, other chemicals (--100%).
Clients: [Mfrs,
wholesalers] Molex Japan, JST Mfg Co, Denso Corp, Showa Corp, Yazaki Corp,
Kyocera Corp, Panasonic Electronics Device, Hirose Electric, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] DSM Engineering Plastics BV, Nippon Coloring Co, Mitsubishi
Chemical, 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 (H/O)
City Bank (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
Annual
Sales |
|
17,500 |
16,618 |
16,377 |
18,000 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
50 |
48 |
45 |
50 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
1,054 |
1,006 |
961 |
|
Capital,
Paid-Up |
|
|
410 |
410 |
410 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.31 |
1.47 |
-9.02 |
50.00 |
|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
0.29 |
0.29 |
0.27 |
0.28 |
Notes: Financials are only partially
disclosed. Profits are disclosed only
for the 31/12/2013 fiscal year, and the rest are estimated from the past.
Forecast (or
estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.29 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.78.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
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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 |
|
<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.