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Report No. : |
354830 |
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Report Date : |
12.12.2015 |
IDENTIFICATION DETAILS
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Name : |
MALROB-CHEMIPLUS LIMITED |
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Registered Office : |
Nihombashi Kakigaracho Tokyu Bldg 2F, 1-29-4 Nihombashi-Kakigaracho,
Chuoku Tokyo 103-0014 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2015 |
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Date of Incorporation : |
May 2007 |
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Com. Reg. No.: |
0100-01-142864 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, export, wholesale of
industrial chemicals, fine chemicals |
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No. of Employee : |
8 |
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 : |
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 – 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 |
MALROB-CHEMIPLUS LIMITED
REGD NAME: KK
Melrob Chemiplus
Nihombashi Kakigaracho Tokyu Bldg 2F, 1-29-4
Nihombashi-Kakigaracho, Chuoku Tokyo 103-0014, JAPAN
Tel:
03-6231-1361 Fax: 03-6231-1368
URL: http://www.melrob-chemiplus.com
E-Mail
address: info@melrob-chemiplus.com
Import,
export, wholesale of industrial chemicals, fine chemicals
Nil
UK
(the parent(, China, Singapore
SATOSHI
KATO, PRES
Hiroshi
Hibino, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 4,043 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 10 M
TREND UP WORTH Yen 135 M
STARTED 2007 EMPLOYES 8
TRADING
FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS, WHOLLY OWNED BY MELROB LIMITED UK.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The
subject company was established originally in 2006 by Melrob Limited UK as its
Japan marketing office, as Melrob Japan Ltd.
In 2007 merged a part of operations with Chemiplus Corp and renamed as
captioned. The merger was intended to
streamline their operations into one entity: Melrob Japan was expert in
industrial chemicals, while Chemiplus in fine chemicals. In Oct 2011 the integration of the two was
complete; and from 1st Oct 2011 the distribution activities of both
companies traded as Melrob-Chemiplus Ltd.
Increased the capital to Yen 57.5 million in Sept.2014 from the previous
Yen 10 million. Operations cover Europe,
USA, China, Mid/Near East, other.
The
sales volume for Sept 2014 fiscal term amounted to Yen 4,043 million, a 36% up
from Yen 2,980 million in the previous term.
This is attributed to the transfer of some operations from the parent in
line with absorption of losses of the parent.
The recurring profit was posted at Yen 19 million and the net profit at
Yen 11 million, respectively, compared with Yen 37 million recurring profit and
Yen 16 million net profit, respectively, a year ago.
For
the term that ended Sept 2015 the recurring profit was projected at Yen 25
million and the net profit at Yen 15 million, respectively, on a 5% rise in
turnover, to Yen 4,250 million. Final
results are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: May 2007
Regd No.: 0100-01-142864
(Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 10,000 shares
Issued:
2,100 shares
Sum: Yen
57.5 million
Major shareholders (%): Melrob Limited UK (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales
industrial chemicals, fine chemicals, other (--100%)
Clients: [Mfrs, wholesalers] Melrob Limited,
PPG Industries, Melrob Europe, other to China, Mid/Near East, S/E Asia, other.
Domestically: Nihon Kohsakuyu
Co, other
No. of
accounts: Unavailable
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Melrob Limited,
Mitsubishi Gas Chemical, Nippon Shokubai Co, Ryoko Co, other
Exports to China, other
Payment record: No
Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Ogikubo)
Hong
Kong & Shanghai Bank (Tokyo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2015 |
30/09/2014 |
30/09/2013 |
30/09/2012 |
|
|
Annual
Sales |
|
4,250 |
4,043 |
2,980 |
2,781 |
|
Recur.
Profit |
|
25 |
19 |
37 |
19 |
|
Net
Profit |
|
15 |
11 |
16 |
16 |
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Total
Assets |
|
|
743 |
641 |
615 |
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Current
Assets |
|
|
579 |
502 |
388 |
|
Current
Liabs |
|
|
248 |
282 |
363 |
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Net
Worth |
|
|
135 |
29 |
12 |
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Capital,
Paid-Up |
|
|
57 |
57 |
10 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.12 |
35.67 |
7.16 |
83.81 |
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Current Ratio |
|
.. |
233.47 |
178.01 |
106.89 |
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N.Worth Ratio |
|
.. |
18.17 |
4.52 |
1.95 |
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R.Profit/Sales |
|
0.59 |
0.47 |
1.24 |
0.68 |
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N.Profit/Sales |
|
0.35 |
0.27 |
0.54 |
0.58 |
|
Return On Equity |
|
.. |
8.15 |
55.17 |
133.33 |
Notes:
Forecast (or estimated) figures for the 30/09/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
JPY |
1 |
Rs. 0.56 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
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Report Prepared
by : |
ASH |
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 |
-- |
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.