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Report No. : |
354425 |
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Report Date : |
11.12.2015 |
IDENTIFICATION DETAILS
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Name : |
UENO FINE CHEMICALS INDUSTRY LTD |
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Registered Office : |
2-4-8 Koraibashi Chuoku Osaka 541-0043 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2015 |
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Date of Incorporation : |
October 1945 |
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Com. Reg. No.: |
1200-01-077363 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures: food products (59.9%), organic chemicals (pigment), other industrial chemicals (27.4%), animal drugs/chemicals, others (12.7%). |
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No. of Employees : |
455 |
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 : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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. 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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 first-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2012. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
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Source
: CIA |
UENO FINE CHEMICALS INDUSTRY LTD
REGD NAME: Ueno
Seiyaku KK
MAIN OFFICE: 2-4-8
Koraibashi Chuoku Osaka 541-0043 JAPAN
Tel: 06-6203-0761
Fax: 06-6222-2413
URL: http://www.ueno-fc.co.jp/
E-mail: info@ueno-fc.co.jp
ACTIVITIES: Mfg
of fine chemicals, food additives, cosmetic additives
BRANCHES: Tokyo,
Fukuoka, Sapporo
FACTORIES: Yokkaichi,
Sanda, Itami, Wakkanai (Tot 4)
OVERSEAS: Bangkok
(Factory), USA (distribution)
OFFICER(S): MASAYA
UENO, PRES Yoshihiko Katsuyama, mgn dir
Yoshimitsu Nakano, dir Takahide
Sonokawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 30,762 M
PAYMENTSREGULAR CAPITAL Yen 1,010 M
TREND SLOW WORTH Yen 6,563 M
STARTED 1945 EMPLOYES 455
COMMENT: MFR OF FINE CHEMICALS FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Seijiro Ueno in order to make most of his experience in the subject line of business, and has been succeeded by his descendants. Masaya took the pres office in 2003. Specializes in mfg fine chemicals: cosmetic additives, pigment intermediates, food additives, plastic engineering, other. Tops in fungicide for cosmetics, having over 80% of the domestic share. Also high share for dyestuffs, pigments and high-functional resins. Has a factory in Thailand and production is increased.
The sales volume for May/2015 fiscal term amounted to Yen 30,762 million, a 6% up from Yen 29.151 million in the previous term. The recurring profit was posted at Yen 657 million and the net profit at Yen 253 million, respectively, compared with Yen 147 million recurring profit and Yen 610 million net losses, respectively, a year ago. The loss previous term included extraordinary losses.
For the current term ending May 2016 the recurring profit is projected at Yen 700 million and the net profit at Yen 260 million, respectively, on a 5% rise in turnover, to Yen 32,300 million. The weaker Yen will contribute to raise import/export earnings in Yen terms.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Oct 1945
Regd No.:
1200-01-077363
(Osaka-Chuoku)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 8 million shares
Issued: 2.02 million
shares
Sum: Yen 1,010 million
Major
shareholders (%): Ueno Technology, Ueno Kogyo, Ueno Kasei, other (--all
Ueno family companies)
No.
of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures: food products (59.9%), organic chemicals (pigment), other industrial chemicals (27.4%), animal drugs/chemicals, others (12.7%).
Clients: [Mfrs,
wholesalers] Ueno USA, Mitsubishi Chemical, Mitsubishi Corp, Poly-Plastics Co,
Meiji Food Materia, Nagase Corp, Marubeni Corp, Tokai Denpun Co, Sundia Corp,
Sumitomo Chemical Ind, Tosoh Corp, other
No. of accounts: 350
Domestic areas of
activities: Nationwide
Suppliers [Mfrs,
wholesalers] Ueno Thailand, Mitsubishi Chemical, Nagase Corp, SMC Food,
Mitsubishi Corp, Mitsui & Co, Dorency Co, Miki & Co, Daiichi Alcohol,
Nippon Alcohol Hambai, Shoko & Co, Tosoh Corp, other
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank
(Osaka)
MUFG (Osaka)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/05/2016 |
31/05/2015 |
31/05/2014 |
31/05/2013 |
|
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Annual
Sales |
|
32,300 |
30,762 |
29,151 |
30,125 |
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Recur.
Profit |
|
700 |
657 |
147 |
778 |
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Net
Profit |
|
260 |
253 |
-610 |
1,165 |
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Total
Assets |
|
|
24,250 |
24,078 |
24,834 |
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Current
Assets |
|
|
9,986 |
8,844 |
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Current
Liabs |
|
|
10,473 |
9,960 |
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Net
Worth |
|
|
6,563 |
6,274 |
7,200 |
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Capital,
Paid-Up |
|
|
1,010 |
1,010 |
1,010 |
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Div.Ttl
in Million (¥) |
|
|
5.551 |
22.204 |
42.6 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.00 |
5.53 |
-3.23 |
1.46 |
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Current Ratio |
|
.. |
95.35 |
88.80 |
.. |
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N.Worth Ratio |
|
.. |
27.06 |
26.06 |
28.99 |
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R.Profit/Sales |
|
2.17 |
2.14 |
0.50 |
2.58 |
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N.Profit/Sales |
|
0.80 |
0.82 |
-2.09 |
3.87 |
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Return On Equity |
|
.. |
3.85 |
-9.72 |
16.18 |
Notes: Forecast (or estimated) figures for the 31/05/2016
fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.73.46 |
|
YEN |
1 |
Rs.0.55 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared
by : |
TPT |
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.