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Report No. : |
317616 |
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Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
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Name : |
FUJI CHEMICAL INDUSTRY CO LTD |
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Registered Office : |
55 Yokohoonji Kamiichimachi Nakaniikawa-gun Toyama-Pref 930-0355 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
October 1946 |
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Com. Reg. No.: |
230001004848 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures: Pharmaceutical products/synthesis, bulk pharmaceuticals products, food additives, health foods, other (--100%) |
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No. of Employees : |
409 |
RATING & COMMENTS
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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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Maximum Credit Limit : |
Yen 223.6 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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source
: CIA |
FUJI CHEMICAL INDUSTRY CO LTD
Fuji Kagaku Kogyo
KK
55 Yokohoonji Kamiichimachi
Nakaniikawa-gun Toyama-Pref 930-0355 JAPAN
Tel:
076-472-2323 Fax: 076-472-2330
URL: http://www.fujichemical.co.jp
E-Mail address: (thru the URL)
ACTIVITIES: Mfg
of pharmaceuticals, health foods
BRANCHES: Tokyo,
Osaka
OVERSEAS: India
FACTORIES: At
the caption address (2)
OFFICERS: MITSUNORI
NISHIDA, PRES Hiroki Tsukahara, dir
Takashi Fujii, dir Yoko
Nishida, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 10,859 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 100 M
TREND UP WORTH Yen 5,893 M
STARTED 1948 EMPLOYES 409
COMMENT: MFR OF PHARMACEUTICALS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED
AT YEN 223.6 MILLION, ON 30 DAYS NORMAL
TERMS.
This is a specialized mfr of pharmaceuticals, health foods, food
additives, other. Goods are widely
exported to USA, Europe, Asian countries, other. Clients include pharmaceutical makers,
wholesalers, other, nationwide
The sales volume for Mar/2014 fiscal term amounted to Yen 10,859 million, a 13% up from Yen 9,639 million in the previous term. Productions increased by the enlarged mfg factory of a subsidiary. The recurring profit was posted at Yen 1,524 million and the net profit at Yen 864 million, respectively, compared with Yen 1,716 million recurring profit and Yen 30 million net losses, respectively, a year ago.
For the term that ended Mar 2015 the recurring profit was projected at Yen 1,600 million and the net profit at Yen 950 million, respectively, on a 6% rise in turnover, to Yen 11,500 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 223.6 million, on 30 days normal terms.
Date Registered: Oct
1946
Regd No.:
230001004848
(Toyama-Nakaniikawagun)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 8
million shares
Issued: 2
million shares
Sum: Yen
100 million
Major
shareholders (%): Employees’ S/Holding
Assn (33), Fuji Chemical Trading (29),Executives’ S/Holding
Assn (9)
No. of shareholders: 12
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures:
Pharmaceutical products/synthesis, bulk pharmaceuticals products, food
additives, health foods, other (--100%)
Clients: [Mfrs,
wholesalers] Astellas Pharma Inc, Takeda Chemical Ind, Kowa Co, Daiichi Sankyo
Co, Kissei Pharmaceutical, Pfizer Japan Inc, Eizai Corp, Ono Pharmaceutical,
other
Exports to: USA, Europe, UK, Indonesia,
Taiwan, Thailand, Korea, India, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kanamori Ind, Kowa Inc, Nagase Corp, other
Payment record: No Complaints
Location: Business area in
Toyama. Office premises at the caption address
are leased and maintained satisfactory.
Bank References:
Shoko Chukin Bank
(Toyama)
Hokkoku Bank
(Toyama)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
11,500 |
10,859 |
9,639 |
9,055 |
|
Recur.
Profit |
|
1,600 |
1,524 |
1,716 |
|
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Net
Profit |
|
950 |
864 |
-30 |
219 |
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Total
Assets |
|
|
17,679 |
14,570 |
14,553 |
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Current
Assets |
|
|
8,231 |
6,719 |
|
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Current
Liabs |
|
|
5,264 |
4,071 |
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Net
Worth |
|
|
5,893 |
4,935 |
4,921 |
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Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.Ttl
in Million (¥) |
|
|
6.3 |
5.8 |
5.8 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.90 |
12.66 |
6.45 |
14.95 |
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Current Ratio |
|
.. |
156.36 |
165.05 |
.. |
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N.Worth Ratio |
|
.. |
33.33 |
33.87 |
33.81 |
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R.Profit/Sales |
|
13.91 |
14.03 |
17.80 |
.. |
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N.Profit/Sales |
|
8.26 |
7.96 |
-0.31 |
2.42 |
|
Return On Equity |
|
.. |
14.66 |
-0.61 |
4.45 |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.91.05 |
|
Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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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 |
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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.