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Report No. : |
356709 |
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Report Date : |
22.12.2015 |
IDENTIFICATION DETAILS
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Name : |
MT AQUAPOLYMER INC |
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Registered Office : |
Ueno Bldg 3F, 2-6-2 Kajicho Chiyodaku Chuoku Tokyo 101-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
May, 2003 |
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Com. Reg. No.: |
0100-01-083783 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Polymer Flocculants, Water Treatment Chemicals. |
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No. of Employees : |
56 |
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 : |
Slow but correct |
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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) |
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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.
|
Source
: CIA |
MT AQUAPOLYMER INC
REGD NAME: MT
Aqua Polymer KK
MAIN OFFICE: Ueno
Bldg 3F, 2-6-2 Kajicho Chiyodaku Chuoku Tokyo 101-0004 JAPAN
Tel: 03-6206-4505 Fax: 03-3251-5080
URL: http://www.mtaqua.co.jp
E-Mail address: (thru the URL)
Mfg of polymer
flocculants, water treatment chemicals
Osaka, Nagoya,
Fukuoka
Mobara (Chiba),
Sakaide (Kagawa)
YOSHIKAZU MORI,
PRES Yasuhiro Mito, v pres
Satoshi Shikama,
dir Akira Nakano, dir
Shigeyuki Aota,
dir Hisayoshi Tanaka,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 6,000 M*
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 460 M
TREND SLOW WORTH Yen 6,952
STARTED 2003 EMPLOYES 56
*.. Only estimated
as not disclosed
MFR OF POLYMER, JV WITH TOAGOSEI CO & MITSUI CHEMICALS INC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company
was established as a JV by Toagosei Co Ltd and Mitsui Chemicals Inc (See REGISTRATION). This is a specialized mfr of polymer
products, liquid polymer, cationic monomer, water treatment chemicals,
other. Materials are supplied from the
both parents. Clients include water
treatment co, other
Financials are
consolidated by the both parents and not individually disclosed in full, except
for profits as follows and B/S as attached. Sales figures are not disclosed at all and only estimated from the past.
The sales figures
for Dec/2014 fiscal term is estimated amounted to Yen 6,000 million, a 14% down
from Yen 7,000 million (estimated) in the previous term. The net profit was posted at Yen4.9 million,
compared with Yen 498 million a year ago.
For the current
term ending Dec 2015 the net profit is projected at Yen 430 million, on a 5%
rise in turnover, to Yen 6,300 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date
Registered: May 2003
Regd
No.: 0100-01-083783 (Tokyo-Chiyodaku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
9,200 shares
Issued:
9,200 shares
Sum:
Yen 460 million
Major shareholders (%): Toagosei Co Ltd*
(51), Mitsui Chemicals Inc** (49)
No.
of shareholders: 2
*.. Toagosei Co Ltd, leading chemical mfr, Tokyo, founded 1942, listed
Tokyo S/E, capital Yen 20,886 million, sales Yen 148,912 million, operating
profit Yen 19,015 million, recurring profit Yen 12,892 million, net profit Yen
8,414 million, total assets Yen 210,331 million, net worth Yen 159,004 million,
employees 2,432, pres Kazuaki Nakagawa
**.. Mitsui Chemicals Inc, mfr of industrial chemicals, Tokyo, founded
1955, capital Yen 125,053 million, sales Yen 1,550,076 million, operating
profit Yen 42,040 million, recurring profit Yen 44,411 million, net profit Yen
17,261 million, total assets Yen 1,3,94,911 million, net worth Yen 422,575
million, employees 14,363, pres Tsutomu Tannowa
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Manufactures
polymer produces: liquid polymer, cationic monomer, flocculants, water
treatment chemicals, other (--100%)
Clients: [Mfrs,
wholesalers] Hymo Co, Kurita Water Ind Co, DiaNitrix Co, Mitsubishi Rayon,
other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toagosei Co, Mitsui Chemicals Inc, other
Payment
record: Slow but correct
Location: Business area in Tokyo. Office premises at the caption address are leased
and maintained satisfactorily.
Bank
References:
SMBC
(Hibiya)
Mizuho
Bank (Marunouchi-Chuo)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
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Annual
Sales* |
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6,300 |
6,000 |
7,000 |
8,000 |
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Recur.
Profit |
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Net
Profit |
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430 |
408 |
498 |
573 |
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Total
Assets |
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9,407 |
9,323 |
9,255 |
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Current
Assets |
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8,283 |
8,111 |
8,148 |
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Current
Liabs |
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2,346 |
2,423 |
2,576 |
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Net
Worth |
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6,952 |
6,794 |
6,577 |
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Capital,
Paid-Up |
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|
460 |
460 |
460 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
5.00 |
-14.29 |
-12.50 |
-13.98 |
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Current Ratio |
|
.. |
353.07 |
334.75 |
316.30 |
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N.Worth Ratio |
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.. |
73.90 |
72.87 |
71.06 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
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6.83 |
6.80 |
7.11 |
7.16 |
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Return On Equity |
|
.. |
5.87 |
7.33 |
8.71 |
Notes: * Annual Sales are not disclosed and only
estimated from past.
Forecast figures
for the 31/12/2005 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.32 |
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|
1 |
Rs.98.99 |
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Euro |
1 |
Rs.72.13 |
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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
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DIV |
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Report Prepared
by : |
NIT |
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.