MIRA INFORM REPORT

 

 

Report No. :

313113

Report Date :

03.04.2015

 

IDENTIFICATION DETAILS

 

Name :

SHIRAISHI CALCIUM KAISHA LTD

 

 

Registered Office :

2-10-5 Doshin Kita-ku, Osaka City, Osaka, 530-0035

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

November 1937

 

 

Legal Form :

Private Company

 

 

Line of Business :

Import, Export & Wholesale of Industrial Chemicals.

 

 

No. of Employees :

198

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

Slow but correct

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

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

 

 

Company name & address

 

 

ENGLISH COMPANY NAME

SHIRAISHI CALCIUM KAISHA LTD

 

Japanese company name

Shiraishi Calcium KK

 

 

 

 

 

 

 

Registered Office

 

 

 

 

 

1. Street Number and District

2-10-5 Doshin Kita-ku

 

2. City and Perefecture

Osaka City, OSAKA

 

3. ZIP Code

530-0035

 

 

 

 

4. Country

JAPAN

 

 

 

 

 

 

 

 

 

 

TEL

06-6358-1181

 

FAX

06-5358-9036

 

 

 

 

 

 

 

URL

www.shiraishi.co.jp

 

Email Address

international@shiraishi.co.jp

 

 

 

 

 

 

 

 

 

Activities (Services & Products)

Import, export, wholesale of industiral chemicals.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SUMMARY OF REPORT

 

 

 

 

 

Annual Sales (MM YEN)

69,095

 

 

 

 

Capital Amount (MM YEN)

231

 

 

 

 

Net Worth (MM YEN)

11,875

 

 

 

 

FINANCES

FAIR

 

 

 

 

TREND

UP

 

 

 

 

EMPLOYEES

198

 

 

 

 

 

 

 

 

 

 

OTHER INFORMATION FOLLOWS:

 

 

 

 

 

 

 

 

 

 

 

Year Started

1937

 

 

 

 

Year Registered

Nov 1937

 

 

 

 

 

 

 

 

 

 

Major Shareholders

 

 

 

 

 

1

Shiraishi Kogyo Kaisha (88.2%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of Shareholders

59

 

 

 

 

 

 

 

 

 

 

Authorized Shares (MM)

18.48

 

 

 

 

Issued Shares (MM)

4.62

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Executives

 

 

 

 

 

PRESIDENT

TSUNEHIRO SHIRAISHI

 

 

 

Chairman

n/a

 

 

 

 

Vice President

Noriaki Kitagawa

 

 

 

 

Senior Mgn Director

Hisaya Ito

 

 

 

 

Mgn Director

Hirokazu Itakura

 

 

 

 

Director

Takeshi Tanaka

 

 

 

 

Director

Kazuyoshi Sato

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Main Banks

 

 

 

 

 

1

Mizuho (Namba)

 

 

 

 

2

MUFG (Umeda)

 

 

 

 

Relations

Satisfactory

 

 

 

 

 

 

 

 

 

 

Clients

 

 

 

 

 

1

Oji Paper

 

 

 

 

2

Daio Paper

 

 

 

 

3

Chuetsu Pulp&Paper

 

 

 

4

Toyoda Gosei

 

 

 

 

5

Hoya Corp.

 

 

 

 

 

 

 

 

 

 

Suppliers

 

 

 

 

 

1

Tosoh Corp

 

 

 

 

2

Asahi Carbon

 

 

 

 

3

Shiraishi Kogyo KK

 

 

 

 

4

Tokuyama Corp

 

 

 

 

5

Bihoku Funka Kogyo

 

 

 

 

 

 

 

 

 

Branches*7 branches in TTL.

 

 

 

 

 

1

Tokyo

 

 

 

 

2

Sapporo

 

 

 

 

3

Sendai

 

 

 

 

4

Shizuoka

 

 

 

 

5

others

 

 

 

 

 

 

 

 

 

 

Factories

 

 

 

 

 

1

None

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overseas*16 affiliates in total

 

 

 

 

 

1

Korea

 

 

 

 

2

Thailand

 

 

 

 

3

other

 

 

 

 

 

 

 

 

 

 

HIGHLIGHT and COMMENT

 

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.
  
  
  
  
  
  
  
  
  
  
  
     
  
  
  
  
  
  
  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL information

Financials are disclosed only partially.

 The sales volume for Mar/2014 fiscal term amounted to Yen 69,095 million, a 9% down from Yen 63,440 million in the previous term.  The recurring profit was posted at Yen 1,060 million and the net profit at Yen 561 million, respectively, compared with Yen 1,039 million recurring profit and Yen 575 million net profit, respectively, a year ago. 

For the term that ended Mar 2015 the recurring profit was projected at Yen 1,092 million and the net profit at Yen 578 million, respectively, on a 3% rise in turnover, to Yen 71,168 million.  Final results are yet to be released. 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PLEASE ATTACH THE FINANCIALS BELOW.

 

 

 

 

 

 

 

 

 

 

       Terms Ending:

31/03/2015

31/03/2014

31/03/2013

31/03/2012

 

Annual Sales

71,168

69,095

63,440

64,312

 

Recur. Profit

1,092

1,060

1,039

772

 

Net Profit

578

561

575

559

 

Total Assets

28,389

28,389

28,604

29,249

 

Current Assets

 

n/a

24,359

24,879

 

Current Liabs

 

n/a

16,802

17,718

 

Net Worth

12,453

11,875

11,287

10,655

 

Capital, Paid-Up

231

231

231

231

 

Div.P.Share(¥)

 

n/a

20.00

15.00

 

<Analytical Data>

(%)

(%)

(%)

(%)

 

       S.Growth Rate

3.00

8.91

-1.36

..

 

       Current Ratio

..

..

144.98

140.42

 

       N.Worth Ratio

..

41.83

39.46

36.43

 

       R.Profit/Sales

1.53

1.53

1.64

1.20

 

       N.Profit/Sales

0.81

0.81

0.91

0.87

 

       Return On Equity

..

4.72

5.09

5.25

 

 

Shiraishi Calcium#313113

 

 

 

 

 

 

       Terms Ending:

31/03/2015

31/03/2014

31/03/2013

31/03/2012

31/03/2011

31/03/2010

 

Annual Sales

 

71,168

69,095

63,440

64,312

 

 

 

Recur. Profit

 

1,092

1,060

1,039

772

 

 

 

Net Profit

 

578

561

575

559

 

 

 

Total Assets

 

28,389

28,389

28,604

29,249

 

 

 

Current Assets

 

 

n/a

24,359

24,879

 

 

 

Current Liabs

 

 

n/a

16,802

17,718

 

 

 

Net Worth

 

12,453

11,875

11,287

10,655

(1,695)

(1,695)

 

Capital, Paid-Up

 

231

231

231

231

90

 

 

Div.P.Share(¥)

 

 

n/a

20.00

15.00

 

 

 

<Analytical Data>

 

(%)

(%)

(%)

(%)

(%)

(%)

 

       S.Growth Rate

 

3.00

8.91

-1.36

..

..

..

 

       Current Ratio

 

..

..

144.98

140.42

..

..

 

       N.Worth Ratio

 

..

41.83

39.46

36.43

..

..

 

       R.Profit/Sales

 

1.53

1.53

1.64

1.20

..

..

 

       N.Profit/Sales

 

0.81

0.81

0.91

0.87

#DIV/0!

#DIV/0!

 

       Return On Equity

 

..

4.72

5.09

5.25

..

..

 

 

 

 

 

 

 

 

 

 

 

  L-Term Liabs

 

 

 

 

 

 

 

  S/Hldrs' Equity

 

(561)

(1,136)

(1,695)

(1,695)

 

 

  Div or Taxes

 

 

 

 

 

 

 

  Offs' Bonus

 

 

 

 

 

 

 

  Gross Profit

 

 

 

 

 

 

 

  Opera.Profit

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.59

UK Pound

1

Rs.92.46

Euro

1

Rs.67.51

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

TPT

 

               


 

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

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.