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Report No. : |
319678 |
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Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
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Name : |
OG CORPORATION |
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Registered Office : |
4-1-43 Miyahara Yodogawaku Osaka 532-0003 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
January 1923 |
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Com. Reg. No.: |
1200-01-054400 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of industrial
chemicals |
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No. of Employees : |
365 |
RATING & COMMENTS
|
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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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 |
OG CORPORATION
REGD NAME: O.
G. KK
MAIN OFFICE: 4-1-43
Miyahara Yodogawaku Osaka 532-0003 JAPAN
Tel: 06-6395-5100
Fax: 06-6395-5115
E-Mail address: honsha@ogcorp.co.jp/ (each division has its
own E-mail address)
Import, export,
wholesale of industrial chemicals
Tokyo, Sapporo,
Nagoya, Takamatsu, Fuji, Hiroshima, Fukuoka, other (Tot 14)
Mumbai, Shanghai
(Affiliates):
China (4, including one in Hong Kong), USA (2), Taiwan, Korea,
UK, Dubai,
Thailand
FUKUI EIJI, PRES Hiroyuki Takano, ch
Norio Katoh, dir Takeyasu Yasuda, mgn dir
Akihiro Tsurubuchi, dir Kotaro Akagi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 104,340 M
PAYMENTSREGULAR CAPITAL Yen
1,110 M
TREND UP WORTH Yen 11,074 M
STARTED 1923 EMPLOYES 365
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ODINARY BUSINESS ENGAGEMENTS.
This is an old-established trading house founded on the basis of the
merger of 5 local dye-trading houses, as Osaka Godo Co Ltd. In Jul 1991 renamed as captioned. Specializes in import, export and wholesale
of industrial chemicals, such as pigments, dyestuff, paints, resins, pharmaceutical
ingredients, food additives, and others.
The firm operates 6 core business divisions: color & fine chemicals,
paper & pulps, chemicals, plastics, electronic materials, and R&D
divisions (See OPERATION for details
& products). Top-ranked in dyestuffs
& pigments. Goods are imported from
and exported to India, Taiwan, China, USA.
Domestic clients total 3,300 nationwide.
Brief history: Jun 1958,
founded Daiwa Chemical Ind (mfr of textile chemicals & industrial
chemicals; Mar 1963, capital participation in Nitto Plastics Co (synthetic
resign molding); Apr 1987, founded Suzukawa Chemical Ind (mfr of industrial
chemicals); Dec 1971, founded Toa Kasei Co (mfr of industrial chemicals); Jul
1980, founded OG Chemical Ind (mfr of industrial chemicals); Sept 1982, moved
the head office to the caption address; Aug 1983, opened Osakagodo America Inc;
Sept 1985, capital participation in Yamago Kasei Ind (synthetic resin molding);
Oct 1990, founded ICG Co Ltd (import/export of chemical products); Jul 1991,
renamed as captioned; Sept 1995, founded FO Tec Co (mfr of industrial
chemicals); Oct 1995, founded OG Asia (Taiwan) Corp (import/export of chemical
products); Dec 1995, founded Qingdao OG Plastic Products Co (mfr of synthetic
resin products); Apr 1996, founded OG Wakayama Co (wholesale of chemicals); Oct
1997, capital participation in Daido Sangyo Co (wholesale of chemicals); Dec
1997, founded Shanghai OG Trading Co (import/export of chemical products); Apr
1999, founded NOAC Co Ltd (design/plan/development of computer software); Apr
2002, founded OG Film Co (film mfr, product processing & sales); Oct 2002,
founded Shanghai OG T&D Techno Co (laboratory center, mfr of dyestuff &
dyeing auxiliaries); Aug 2003, capital participation in Ike Trading Co.
The sales volume for Mar/2014 fiscal term amounted to Yen 104,340
million, an almost similar amount of Yen 104,017 million in the previous
term. The recurring profit was posted
at Yen 280 million and the net profit at Yen 139 million, respectively,
compared with Yen 460 million and Yen 436 million net profit, respectively, a
year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 300 million and the net profit at Yen 150 million, on a 3% rise in
turnover, to Yen 107,000 million. Weaker
Yen will contribute to raise earnings in Yen terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jan
1923
Regd No.:
1200-01-054400
(Osaka-Yodogawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 60 million shares
Issued: 15 million shares
Sum: Yen 1,110 million
Major
shareholders (%): Employees’ S/Holding Assn (8.1), Mizuho Bank (4.7)), MUFG (4.7), SMBC
(4.6), Fukusuke Ikeda (4.3)
No. of shareholders: 314
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading house for import, export and wholesale of dyestuffs, pigments, tex- tile chemicals, industrial & fine chemicals, paints, raw resins, and their finished products, pharmaceutical ingredients, reprographic materials, food additives, other industrial chemicals (--100%)
Overseas trading ratio (22%) covering Asia, USA.
BUSINESS DIVISIONS (major handling
products):
Color & fine
chemicals: Dyestuffs, Pigments, Textile auxiliaries, Antibacterial agent,
Germicide, Flame retardant, Non-woven fabric, CCM, Colorimeters, Automatic
color matching devices, Raw material for medicine and agricultural chemicals,
Organic intermediates and Fragrant materials.
Paper & pulps: All sorts of
chemicals used in every process of paper mfg, non-wood pulp, such as kenaf
& bamboo, used paper recycling
Chemicals: Organic
chemicals, Industrial chemicals, Inorganic chemicals, Acrylic resins, Epoxy resins
and basic ingredients of the following items- Paint/Ink, Electronic components,
Urethane and other resins, Transport equipment accessories, Synthetic leathers,
Surfactants, Food related materials, Building materials, Acrylic resins and
Epoxy resins.
Plastic: Raw resins, resin additives, films, sheets, laminated
manufactured products, injection-molded parts, extrusion-molded parts,
blow-molded parts, packaging-related machines, bolding-related machines
Electronic
Materials: Color filters, Pigment dispersing agents, Overcoat materials,
Anti-reflection materials, Toner binder resins, Charge control agents, Ink,
Image receiving sheets, Dyestuffs, Pigments, Base film sheets, Insulation
sheets, Electrode materials, Resist solvents, Sensitizers, Near-infrared ray
absorbents, Ultraviolet absorbents
R&D Division
(projects): Specialty chemicals, pharmaceuticals, China projects, specialty films,
new materials.
Clients: [Chemical mfrs,
wholesalers, specialty traders] Nippon Paper Ind, DIC Corp, Dainichiseika Color
& Chemicals Mfg Co, AICA Inc, Oji Paper Ind, Fukusuke Kogyo Co, Dynic Corp,
Daio Paper Ind, Daiichi Kigenso Kagaku Kogyo Co, Wako Ind Co, Fujicopian Co,
Mitsui Chemical, Shanghai OG Trading, other
No. of accounts: 3,300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui & Co, DIC Corp, Nippon Kayaku, Sanyo Chemical Ind,
Fimatec Ltd, Daiwa Chemical Ind, Clariant Japan, Mitsui Chemicals Tohcello Inc,
Prime Polymer, other.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References:
Mizuho Bank
(Minamisemba)
MUFG (Semba-Chuo)
Relations: Satisfactory.
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual
Sales |
|
107,000 |
104,340 |
104,017 |
115,011 |
|
Recur.
Profit |
|
300 |
280 |
460 |
650 |
|
Net
Profit |
|
150 |
139 |
436 |
284 |
|
Total
Assets |
|
|
57,742 |
59,823 |
61,241 |
|
Current
Assets |
|
|
40,393 |
43,194 |
46,717 |
|
Current
Liabs |
|
|
34,578 |
38,714 |
40,047 |
|
Net
Worth |
|
|
11,074 |
10,755 |
10,040 |
|
Capital,
Paid-Up |
|
|
1,110 |
1,110 |
1,110 |
|
Div.P.Share(¥) |
|
|
11.00 |
24.00 |
11.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.55 |
0.31 |
-9.56 |
-2.08 |
|
Current Ratio |
|
.. |
116.82 |
111.57 |
116.66 |
|
N.Worth Ratio |
|
.. |
19.18 |
17.98 |
16.39 |
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R.Profit/Sales |
|
0.28 |
0.27 |
0.44 |
0.57 |
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N.Profit/Sales |
|
0.14 |
0.13 |
0.42 |
0.25 |
|
Return On Equity |
|
.. |
1.26 |
4.05 |
2.83 |
Notes: Forecast
figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
|
|
1 |
Rs.96.56 |
|
Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
VNT |
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.