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Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
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Name : |
KUSUMOTO CHEMICALS LTD |
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Registered Office : |
Kusumoto Bldg, 1-11-13 Uchikanda Chiyodaku |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
June 1972 |
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Com. Reg. No.: |
0100-01-015054 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Wholesale of Industrial Chemicals, Synthetic
Resins |
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No. of Employees : |
250 |
RATING & COMMENTS
|
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 |
|
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 |
KUSUMOTO CHEMICALS
LTD
Kusumoto Kasei KK
Kusumoto Bldg, 1-11-13 Uchikanda Chiyodaku Tokyo 101-0047 JAPAN
Tel: 03-3292-8681
Fax: 03-3291-6789
URL: http://www.kusumoto.co.jp
E-Mail address: (thru
the URL)
Import, wholesale of industrial chemicals, synthetic resins
Osaka, Nagoya, Sapporo, Fukuoka, Akita
China, Thailand, Malaysia, Indonesia, Philippines
Koshigaya, Soka, Kashima, Ibaraki (--Processing)
KEITA KUSUMOTO, PRES Koji
Kusumoto, ch
Yutaka Oyama, mgn dir Shingo
Ishikawa, dir
Manami Kusumoto, dir
Yen
Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen
19,949 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 450 M
TREND SLOW WORTH Yen 8,963 M
STARTED 1972 EMPLOYES 250
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established originally in 1926 by
Jiro Kusumoto for importing industrial chemicals, on his account. In 1948 started mfg paint additives. Incorporated in 1972 the firm has been
succeeded by his descendants. Keita took
the pres office in Feb 2006. This is a
trading firm, with mfg/processing division, for import and wholesale of
industrial chemicals, additives, other.
It has three business units: chemicals, additives and BTAC
(environmental test chamber). Goods are
imported from USA, Spain, Netherlands, other.
Clients include major paint mfrs, electric appliance makers, other.
The sales volume for Dec/2013 fiscal term amounted to Yen
19,949 million, a 4% down from Yen 20,732 million in the previous term. The Ibaraki Factory was partially damaged by
the North East Japan Earthquake. The
recurring profit was posted at Yen 784 million and the net profit at Yen 455
million, respectively, compared with Yen 670 million recurring profit and Yen
424 million net profit, respectively, a year ago.
For the current term ending Dec 2014 the recurring profit is
projected at Yen 850 million and the net profit at Yen 460 million,
respectively, on a 5% rise in turnover, to Yen 20,900 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date
Registered: Jun 1972
Regd
No.: 0100-01-015054
(Tokyo-Chiyodaku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 3.6 million shares
Issued:
900,000 shares
Sum: Yen
450 million
Major
shareholders (%): Kusumoto KK* (100)
*.. Holding company owned by the Kusumoto family.
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Imports, exports and wholesales industrial chemicals, additives, synthetic
resin materials; wholesales laboratory equipment, testing units, other (--100%)
(Handling
items):
Chemicals
Unit: synthetic, plastic molding resins, plasticizers, organic
& inorganic extender pigments. Glass fibers, non-woven cloth, Butyral
resin, PET films, metal surface treating agents, water treatment chemicals,
rust preventives, solvents, metal containers, metal soaps, hardening agents, UV
absorbents, sepiolite, silicone products, binder for paste, meso-porous silica,
LED related products, other;
Additives
Unit: thyrotrophic agents, dispersants, anti-foaming agents,
anti-popping agents, anti-catering agents, leveling agents, electrostatic
assistants, powder, non-VOC and UV hardening systems, other.
Clients:
[Mfrs, wholesalers] TDK, Kansai Paint Co, Nippon Paint Co, Atomix Co, Origin
Electric Co, King, JFE Kozai Co, Mac Systems, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] DIC, Daiwa Co, BASF Japan, Teijin DuPont Films Japan,
Ube Ind, Owens Corning Japan, Itochu Chemical Frontier,
Toyotsu Chemiplas Co, ETAC Engineering Co, Nippon Fine Coatings, Itochu
Chemical Frontier, Chuo Kasei Co, other.
Imports from King Industries Inc (USA), Tolsa SA (Spain),
DSM Neo Resins (Netherlands), other.
Payment
record: No complaints
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank
References:
SMBC (Kanda)
MUFG (Kanda)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
|
Annual Sales |
|
20,900 |
19,949 |
20,732 |
21,283 |
|
Recur. Profit |
|
850 |
784 |
670 |
377 |
|
Net Profit |
|
460 |
455 |
424 |
339 |
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Total Assets |
|
|
18,566 |
19,077 |
19,030 |
|
Current Assets |
|
|
13,207 |
13,522 |
13,339 |
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Current Liabs |
|
|
7,430 |
8,215 |
8,432 |
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Net Worth |
|
|
8,963 |
8,575 |
8,196 |
|
Capital, Paid-Up |
|
|
450 |
450 |
450 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.77 |
-3.78 |
-2.59 |
-4.34 |
|
Current Ratio |
|
.. |
177.75 |
164.60 |
158.19 |
|
N.Worth Ratio |
|
.. |
48.28 |
44.95 |
43.07 |
|
R.Profit/Sales |
|
4.07 |
3.93 |
3.23 |
1.77 |
|
N.Profit/Sales |
|
2.20 |
2.28 |
2.05 |
1.59 |
|
Return On Equity |
|
.. |
5.08 |
4.94 |
4.14 |
Notes: Forecast (or estimated) figures for the 31/12/2014
fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.43 |
|
UK Pound |
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SHG |
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 |
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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.