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Report No. : |
319058 |
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Report Date : |
24.04.2015 |
IDENTIFICATION DETAILS
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Name : |
DYSTAR JAPAN LTD |
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Registered Office : |
Shin-Toyama Bldg 5F, 1-7-20 Azuchimachi Chuoku Osaka 541-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
July, 1995 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of
Dyestuffs. |
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No. of Employees : |
22 |
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 |
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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 |
|
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. Since the complete
shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster
in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused the economy to
contract during the 2nd and 3rd quarters of 2014. The economy has largely
recovered in the three years since the disaster, but reconstruction in the
Tohoku region has been uneven due to labor shortages. 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 2014 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 government will continue a longstanding debate on
restructuring the economy and reining in Japan's huge government debt, which
amounts to more than 240% 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 2015, although the government in 2014 decided to postpone the
final phase of the increase until 2017 to give the economy time to recover from
the 2014 increase. 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 |
DYSTAR
JAPAN LTD
REGD
NAME: Dystar Japan KK
MAIN
OFFICE: Shin-Toyama Bldg 5F, 1-7-20
Azuchimachi Chuoku Osaka 541-0052 JAPAN
Tel: 06-6263-6670 Fax: 06-6263-6690
E-Mail address: DyStar.Japan@DyStar.com
Mfg of dyestuffs
Omuta (Fukuoka-Pref)
Omuta (Fukuoka-Pref)
MICHAEL BECKER, PRES (Only phonetically
spelled)
Kazuhiko Asao, mgn dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 6,864 M
PAYMENTSNO COMPLAINTS CAPITAL Yen
4,730 M
TREND UP WORTH Yen 3,417 M
STARTED 1995 EMPLOYES 22
MFR OF DYESTUFFS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established as a JV
by Hoechst Ag & Bayer (--Germany). Succeeded the dyestuffs operations of
Bayer KK, Bayer Chemicals and Mitsubishi Kasei Bayer KK and started producing
dyestuffs. In Oct 2002, integrated Mitsui BASF Dyestuff KK. Materials are
supplied from Dystar group firms. In
2013 launched producing dyestuffs/chemicals for foreman uniforms. Clients
include major apparel mfrs, wholesalers, other, nationwide.
The sales volume for Dec/2014 fiscal term
amounted to Yen 6,864 million, a 25% up from Yen 5,502 million in the previous
term. The recurring profit was posted at Yen 624 million and the net profit at
Yen 376 million, respectively, compared with Yen 477 million recurring profit
and Yen 354 million net profit, respectively, a year ago.
For the current term ending Dec 2015 the
recurring profit is projected at Yen 650 million and the net profit at Yen 400 million,
respectively, on a 5% rise in turnover, to Yen 7,200 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements. Max credit limit is estimated at
Yen 302.5 million, on 30 days normal terms.
Date
Registered: Jul 1995
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
94,600 shares
Issued:
94,600 shares
Sum:
Yen 4,730
million
Major
shareholders (%): Dystar
Global Holdings (Singapore) Pte Ltd (100)
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Manufactures dyestuffs: disperse dyes,
reactive dyes, indigo dyes, direct dyes, chrome dyes, vat dyes, sulfur dyes, basis dyes, acid dyes, azoic
dyes, pigment resin colors, other (--100%).
Goods are both imported and exported.
Clients: [Mfrs, wholesalers] Dystar Singapore (50%),
OG Nagase Color Chemical, Nishino Kinryo Corp, Miki & Co, other
No. of accounts: 300
Domestic areas of activities: nationwide
Suppliers: [Mfrs, wholesalers] Dystar Group firms
Payment
record: No Complaints
Location: Business area in Osaka. Office
premises at the caption address are leased and maintained satisfactorily.
Bank
References:
Mizuho
Bank (Semba)
Resona
Bank (Osaka)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
|
Annual Sales |
|
7,200 |
6,864 |
5,502 |
5,272 |
|
Recur. Profit |
|
650 |
624 |
477 |
387 |
|
Net Profit |
|
400 |
376 |
354 |
93 |
|
Total Assets |
|
|
5,758 |
5,024 |
5,348 |
|
Current Assets |
|
|
5,108 |
4,228 |
4,686 |
|
Current Liabs |
|
|
1,915 |
1,365 |
1,935 |
|
Net Worth |
|
|
3,417 |
3,042 |
2,682 |
|
Capital, Paid-Up |
|
|
4,730 |
4,730 |
4,730 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.90 |
24.75 |
4.36 |
15.03 |
|
Current Ratio |
|
.. |
266.74
|
309.74
|
242.17
|
|
N.Worth Ratio |
|
.. |
59.34 |
60.55 |
50.15 |
|
R.Profit/Sales |
|
9.03 |
9.09 |
8.67 |
7.34 |
|
N.Profit/Sales |
|
5.56 |
5.48 |
6.43 |
1.76 |
Notes: Forecast (or estimated) figures for the 31/12/2015
fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.19 |
|
|
1 |
Rs.94.94 |
|
Euro |
1 |
Rs.67.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.