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Report Date : |
10.09.2014 |
IDENTIFICATION DETAILS
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Name : |
SORT CO LTD |
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Registered Office : |
1-31-42 Tukushino Machida Tokyo-Metrop
194-0001 |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 1991 |
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Com. Reg. No.: |
0200-01-002155 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports and wholesales industrial chemicals: UV absorber (Eversorb),
UV stabilizer, UV cure adhesives, urethane stabilizer, urethane adhesives,
plastics adhesives, other (--100%). |
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No of Employees : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate 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. 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 |
SORT CO LTD
KK Sort
1-31-42 Tukushino
Machida Tokyo-Metrop 194-0001 Japan
Tel:
045-982-0180
Fax: 045-982-0377
E-Mail address: taro@kksort.com
ACTIVITIES: Import,
wholesale of industrial chemicals
BRANCHES: Yokohama
FACTORYIES: (subcontracted –
Taiwan, China, other)
OFFICER(S): MASATAKA
TANABE, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,579 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 10 M
TREND STEADY WORTH Yen 327 M
STARTED 1991 EMPLOYES 7
COMMENT: TRADING FIRM SPECIALIZING IN INDUSTRIAL
CHEMICALS FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
The subject company was established jointly by H Yamashita (former vice- minister of International Trade & Commerce) and Tohru Seya (then consultant of JETRO) in order to make most of their experiences and networks in the subject line of business. And has been transferred to the present executives. Newly organized, the firm started on business succession from Johnson Chemical of urethane-based chemicals. This is a family-based trading firm specializing in import and wholesale of industrial chemicals: UV absorber (Eversorb), UV stabilizer, urethane stabilizer, urethane adhesives, other. In May 1998, started importing products from Shuang-Bang Industrial Corp. In Jan 2000, became sole import agent for Shuang-Bang Industrial, and in May that year accepted their capital participation, owning 15% of the subject share. In addition to import business, the firm is engaged in consignment production of the products to Taiwan & Chinese factories.
The sales volume for Mar/2014 fiscal term amounted to Yen 1,421 million, an 11% up from Yen 1,425 million in the previous term. UV-related products (Eversorb) continued to grow, according to the firm. Also OEM production in Taiwan & China continued brisk, says the firm. The recurring profit was posted at Yen 564 million and the net profit at Yen 41 million, respectively, compared with Yen 94 million recurring profit and Yen 60 million net profit, respectively, a year ago.
For the current term ending Mar 2015 the net recurring profit is projected at Yen 75 million and the net profit at Yen 45 million, respectively, on a 5% rise in turnover, to Yen 1,650 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered:
Apr 1991
Regd No.:
0200-01-002155
(Tokyo-Machida)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen
10 million
Major shareholders
(%): Masataka Tanabe (32.5), Reiko Tanabe (27.5), Kumiko
Sumiyoshi (25), Shuang-Bang Industrial Corp (
No.
of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales industrial chemicals: UV absorber (Eversorb), UV stabilizer, UV cure
adhesives, urethane stabilizer, urethane adhesives, plastics adhesives, other
(--100%).
(Import
agent for): Shuang-Bang Industrial Corp, Everlight Chemical (--Taiwan), other in
China.
Clients: [Mfrs,
wholesalers] OG Corp, BASF Coatings Japan, Ricoh Co, Heisen Yoko Co, T&K
Toka Co, JSR, Meisei Co, Toyo Ink & Chemicals, Bridgestone Corp, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Shuang-Bang Industrial Corp, Everlight chemicals (--Taiwan), Sanko
Ink, Insight High Technology, Koshin Chemical, other
Payment record: No Complaints
Location:
Business
area in Yokohama. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References:
Bank of Yokohama
(Nagatsuda)
SMBC (Aobadai)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
1,650 |
1,579 |
1,425 |
1,421 |
|
Recur.
Profit |
|
75 |
64 |
94 |
|
|
Net
Profit |
|
45 |
41 |
60 |
64 |
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Total
Assets |
|
|
696 |
585 |
|
|
Current
Assets |
|
|
609 |
491 |
|
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Current
Liabs |
|
|
182 |
188 |
|
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Net
Worth |
|
|
327 |
287 |
245 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div
Ttl in Million (¥) |
|
|
2 |
2 |
2 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.50 |
10.81 |
0.28 |
13.32 |
|
Current Ratio |
|
.. |
334.62 |
261.17 |
.. |
|
N.Worth Ratio |
|
.. |
46.98 |
49.06 |
.. |
|
R.Profit/Sales |
|
4.55 |
4.05 |
6.60 |
.. |
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N.Profit/Sales |
|
2.73 |
2.60 |
4.21 |
4.50 |
|
Return On Equity |
|
.. |
12.54 |
20.91 |
26.12 |
Notes: Financials are only partially disclosed until the Mar/2012 fiscal
term.
Forecast (or
estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.43 |
|
|
1 |
Rs.97.25 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
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 |
|
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.