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Report No. : |
312394 |
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Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
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Name : |
SUNSTAR INC |
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Registered Office : |
3-1 Asahimachi Takatsuki city Osaka 569-1134 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
November 1950 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of oral care products, hair care products, cosmetics and health foods |
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No of Employees : |
849 |
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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Maximum Credit Limit : |
Yen 360.5 Million |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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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.
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Source
: CIA |
SUNSTAR
INC
SUNSTAR KK
3-1 Asahimachi Takatsuki city Osaka 569-1134
JAPAN
Tel:
072-682-5541 Fax: 072-682-8162
E-Mail address: (thru
the URL)
Mfg of oral care products, hair
care products, cosmetics and health foods.
Tokyo, Sendai, Nagoya, other (total
13)
Switzerland (Head office), U.S.A., France, Spain, Germany, Italy,
Sweden, China, other
Takatsuki (Osaka), Tokushima
TAKASHI YOSHIOKA, PRES
Kazuo Hamada, ch Yoshiyuki Nomi, dir
Atsushi Kinoshita, dir Tomonori Hori, dir
Mitsuru Tamai, dir Tetsuya Kawahara, dir
Mariko Ooka, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 60,586 M
PAYMENTSNO COMPLAINTS CAPITAL Yen
10,000 M
TREND UP WORTH Yen Unavailable
STARTED 1950 EMPLOYES 849
MANUFACTURER OF ORAL CARE PRODUCTS, HAIR CARE PRODUCTS, COSMETICS
AND HEALTH FOOD
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT
YEN 360.5 MILLION, ON 30 DAYS NORMAL TERMS.
The
subject company was founded by Ikuo Kanada as Kaneda Keitei Shokai in 1932 and
began manufacturing and selling of rubber glue for bicycles. By applying the manufacturing
technology used in pouring rubber glue into metal-tube containers, the company
developed and introduced toothpaste in tube containers. In 1946, it transformed the oral care
industry with Sunstar Toothpaste in a tube and was established Sunstar Inc. in
1950. After that, it became one of Japan’s leading toothbrush manufactures and
entered other consumer goods market, such as hair care products, cosmetics and
health foods. In 2002, it established the Global Headquarters in Switzerland.
Financials
are disclosed only partially.
The
sales volume for March 2014 fiscal term amounted to Yen 60,586 million, a 2.8 %
up from Yen 58,922 million in the previous term. The net profit at Yen 5,048 million is posted
in a 43% up compared with Yen 3,541 million a year ago.
For
the current term ending March 2015, the net profit at Yen 5,149 million is
estimated based on 2% rise in turnover, to Yen 61,798 million. Final results are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 360.5 million, on 30 days normal terms.
Date Registered:
Nov 1950
Regd No.: Unavailable
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: Unavailable
Issued: Unavailable
Sum: Yen
10,000 million
Major shareholders (%): SunstarSuisse
S.A.,STARLECS, Employees’ S/holding Assn, Company’s Treasury Stock
No. of
shareholders: 3
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Mfg
of oral care products, hair care products, cosmetics and health foods with the
following business units:
Mouth
& Body: Sunstar is a pioneer in championing the idea that the
state of one’s oral health has a deep connection to the health of the whole
body.
In partnership with dental and medical specialists
throughout the world, Sunstar continues to be the world leader in research in
this area. Recent research has highlighted probable links between oral hygiene
and serious health conditions such as heart disease, diabetes and complications
during pregnancy.
Health
& Beauty: It provides unique skin care, hair care and health food
products that help people everywhere live healthy and full lives. They have developed these products based on
the latest progressive research to engage the human body’s natural healing
Health
Living Environment: Its goal is to create environmentally friendly
home-building products that help people around the world lead a safe and more
fulfilling life.
As a leading supplier of construction materials such as
adhesives, sealants and coatings, Sunstar works to provide materials that
improve the quality and enhance the safety of the indoor environment.
Safety
Support & High Technology: Sunstar’s Safety Support and High
Technology products help people lead safer and better lives and contribute to
the success of many industries. Thier adhesives, sealants and coating materials
are used in production of automobiles and electronic and digital devices, while
their underfill adhesives protect the semiconductor package at the core of
mobile devices. S
Clients:
[Mfrs, wholesalers] Paltac Corp, Japanese Consumer Co-operatives, Arata Corp,
JTB Trading Corp, Suzuken Corp, Shiraishi Yakuhin Corp, other
No. of accounts: Unavailable
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Mitsui & Co., Yoshino Kogyosho Corp, Inabata Industry
Corp, Toyota Tsusho Corp, Yamato-Esulon Corp, other
Payment record: No Complaints
Location:
Business area in Osaka. Office premises
at the caption address is maintained satisfactory.
Bank References:
MUFG
(Dojima)
Mizuho
Bank (Osaka)
Relations:
Satisfactory
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Sunstar#312934 |
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Terms Ending: |
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31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
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61,798 |
60,586 |
58,922 |
57,539 |
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Recur.
Profit |
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Net
Profit |
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5,149 |
5,048 |
3,541 |
4,339 |
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Total
Assets |
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Net
Worth |
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Capital,
Paid-Up |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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2.00 |
2.82 |
2.40 |
#DIV/0! |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
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8.33 |
8.33 |
6.01 |
7.54 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2015 fiscal
term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 62.59 |
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1 |
Rs. 92.45 |
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Euro |
1 |
Rs. 67.51 |
INFORMATION DETAILS
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Analysis Done by
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KRN |
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
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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 |
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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 |
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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.