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Report No. : |
317682 |
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Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
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Name : |
SINOPEC JAPAN CO LTD |
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Registered Office : |
Shinagawa Grand Central Tower 9F, 2-16-4 Konan Minatoku Tokyo 108-0075 |
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Country : |
Japan |
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Date of Incorporation : |
Sept., 1988 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import and Wholesale of Petroleum, Petroleum Plant Facilities. |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
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Risk Category |
ECGC
Classification |
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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.
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Source
: CIA |
SINOPEC JAPAN CO LTD
REGD NAME: Sinopec
Japan KK
MAIN OFFICE: Shinagawa
Grand Central Tower 9F, 2-16-4 Konan Minatoku Tokyo 108-0075
JAPAN
Tel: 03-6712-8198 Fax: 03-6712-8291
Import, wholesale of
petroleum, petroleum plant facilities
Nil
Singapore, Sydney
SHIHO LI, PRES
(Only phonetically spelled)
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 70,000 M
PAYMENTSUNKNOWN CAPITAL Yen 100 M
TREND UP WORTH
Yen NOT DISCLOSED M
STARTED 1988 EMPLOYES 20
TRADING
FIRM OWNED BY SINOPEC (CHINA) SPECIALIZING IN PETROLEUM, FACILITIES, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Sinopec (China) as its Japan office, for importing
and wholesaling petroleum products, refining facilities, other. The firm does not disclose financials (only sales
figures) and not profits. Therefore we
are unable to assess its credibility.
Financials are disclosed only partially.
And no profits.
The sales volume for Dec/2013 fiscal term
amounted to Yen 70,000 million, a 40% up from Yen 50,000 million in the
previous term. Profits are not
disclosed.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: Sept 1988
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 200,000 shares
Issued: 200,000 shares
Sum: Yen 100 million
Major
shareholders (%): Sinopec (China)
(99%), Mizuho Bank (1%)
No.
of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales oil refinery plants, their facilities, parts (70%), petroleum
products, petrochemical products (--30%)
Clients: [Mfrs,
wholesalers] Sinochem (China) and Group firms (80%), Marubeni Corp, Toyota Tsusho
Corp, Mitsui & Co, Mitsubishi Corp, EMGH Marketing, other
No. of accounts:
100
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sinochem (40%), Mitsui Chemical, Mitsubishi Chemical, JFE Steel,
Mitsui & Co, Marubeni Corp, other
Payment record: Unknown
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Mizuho Bank (Yokoyamacho)
Relations: ^Satisfactory
(In Million Yen)
Only sales figures
are disclosed and not fully released.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
|
|
1 |
Rs.92.44 |
|
Euro |
1 |
Rs.66.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.