MIRA INFORM REPORT
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Report No. : |
316599 |
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Report Date : |
11.04.2015 |
IDENTIFICATION DETAILS
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Name : |
DIO CHEMICALS LTD |
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Registered Office : |
St Luke’s Tower 13F, 6-1 Akashicho Chuoku Tokyo 104-0044 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
June 1956 |
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Com. Reg. No.: |
0100-01-049706 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha |
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Line of Business : |
Manufactures insect nets, garden nets, agricultural nets to protect against insects, sunlight, wind, birds, etc, construction nets & sheets used in home remodeling, various types of nets used in landscaping, window screens |
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No. of Employee : |
179 |
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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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 |
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.
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Source
: CIA |
Company
name and address
DIO CHEMICALS LTD
REGD NAME: Daio Kasei KK
MAIN OFFICE: St Luke’s Tower 13F, 6-1 Akashicho Chuoku
Tokyo 104-0044 JAPAN
Tel:
03-6830-3000 Fax: 03-6830-3001
URL: http://www.dionet.jp
E-Mail
address: info@dionet.jp
ACTIVITIES
Mfg of insect nets, agricultural nets, construction nets,
window screens
BRANCHES
Osaka, Fukuoka
FACTORIES
Fukuroi, Kakegawa (--Shizuoka)
OFFICERS
TAKASHI AOKI, PRES Fuchizumi
Kine, dir
Akira Fukuda, dir Tomonori
Ishihara, dir
Yen Amount: In million
Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 7,383 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 300 M
TREND SLOW WORTH Yen 9,001 M
STARTED 1956 EMPLOYES 179
COMMENT
MFR SPECIALIZING IN AGRICULTURAL & INSECT NETS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established originally as Tokai
Henshoku KK by Kakiuchi KK & Matsuya Omori as a specialized mfr of insect
netting. This is a specialized mfg of insect netting, agricultural netting,
construction-use netting & sheets, made of polypropylene. Also mfrs
window screens. In Oct 1970, changed the
name to the captioned. In Apr 2005,
became a wholly owned consolidated subsidiary of Wavelock Holdings Co Ltd (see REGISTRATION) through capital
exchange.
FINANCIAL
INFORMATION
The sales volume for Mar/2014 fiscal term amounted to Yen
7,383 million, a 6% down from Yen 7,880 million in the previous term. A part of operations were transferred to the group
firms. The recurring profit was posted
at Yen 769 million and the net profit at Yen 456 million, respectively,
compared with Yen 1,094 million recurring profit and Yen 668 million net
profits, respectively, a year ago.
For the term ended Mar 2015 the recurring profit was
projected at Yen 760 million and the net profit at Yen 450 million,
respectively, on a 2% rise in turnover, to Yen 7,500 million. Final results are yet to be released.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
REGISTRATION
Date
Registered: Jun
1956
Regd
No.: 0100-01-049706
(Tokyo-Chuoku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 40
million shares
Issued:
10,253,562 shares
Sum: Yen 300
million
Major
shareholders (%): Wavelock Holdings Co Ltd* (100)
*.. Holding Company of 18 group firms, at the caption
address, founded 1964, capital Yen 2,185 million, turnover Yen 764 million, net
loss Yen 1,342 million, total assets Yen 16,612 million, net worth Yen 4,542
million, employees 179, pres Jun Kinebuchi.
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Manufactures insect nets, garden nets, agricultural nets to protect against
insects, sunlight, wind, birds, etc, construction nets & sheets used in
home remodeling, various types of nets used in landscaping, window
screens, others (--100%).
Products are branded as “Wavelock” sheets.
Clients: [Mfrs,
DIY goods stores, wholesalers] Cainz, Tostem, Komeri, Joyful Honda, Konan
Trading, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Dainichiseika Color & Chemicals Mfg, Japan
Polyethylene Corp, Japan Polypropylene Corp, Gunze Kobunshi
Co, 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 (Nihombashi)
Shizuoka Bank (Tokyo)
Relations: Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual Sales |
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7,500 |
7,383 |
7,880 |
7,866 |
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Recur. Profit |
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760 |
769 |
1,094 |
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Net Profit |
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450 |
456 |
668 |
756 |
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Total Assets |
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11,452 |
10,942 |
10,559 |
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Current Assets |
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6,507 |
6,330 |
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Current Liabs |
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1,467 |
1,624 |
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Net Worth |
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9,011 |
8,784 |
8,562 |
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Capital, Paid-Up |
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|
330 |
330 |
330 |
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Div.Ttl in Million (¥) |
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|
225 |
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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1.58 |
-6.31 |
0.18 |
9.36 |
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Current Ratio |
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.. |
443.56 |
389.78 |
.. |
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N.Worth Ratio |
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.. |
78.68 |
80.28 |
81.09 |
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R.Profit/Sales |
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10.13 |
10.42 |
13.88 |
.. |
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N.Profit/Sales |
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6.00 |
6.18 |
8.48 |
9.61 |
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Return On Equity |
|
.. |
5.06 |
7.60 |
8.83 |
Notes: 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.62.37 |
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|
1 |
Rs.91.60 |
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Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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.