MIRA INFORM REPORT

 

 

Report No. :

356858

Report Date :

29.12.2015

 

IDENTIFICATION DETAILS

 

Name :

 KANEMATSU CHEMICALS CORP

 

 

Formerly Known As :

KANEMATSU KASEIHIN CO LTD

 

 

Registered Office :

10Fl TT-2 Bldg 3-8-1 Nihonbashi-ningyocho, Chuo-ku, Tokyo 1030013

 

 

Country :

Japan

 

 

Financials (as on) :

2015

 

 

Date of Incorporation :

25.09.1974

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Subject is trader of chemicals

 

 

No. of Employee :

59

 

 

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

 

Maximum Credit Limit :

USD $7,000,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No complaints

 

 

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

 

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 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

 

 Company name

 

 KANEMATSU CHEMICALS CORP

             

 

Company Details

 

Country

:

Japan

Business Entity Name

:

KANEMATSU CHEMICALS CORP (1)

Operating Address

:

10Fl TT-2 Bldg 3-8-1 Nihonbashi-ningyocho, Chuo-ku, Tokyo 1030013

Tel

:

[+81] 3-56433011

Fax

:

[+81] 3-56433016

Website

:

https://www.kccjp.co.jp

Primary Business Activity

:

Trader

Primary Industry

:

Chemicals

 

 

Key Facts

 

Registered Legal Address

:

10Fl TT-2 Bldg 3-8-1 Nihonbashi-ningyocho, Chuo-ku, Tokyo 1030013

Name History

:

Business Entity Name

Effective Date

KANEMATSU KASEIHIN CO LTD

25 Sep, 1974

KANEMATSU CHEMICALS CORP

Mar, 2002

License Number

:

0100-01-040329

Date of Registration

:

25 Sep, 1974

Issuing Authority

:

Legal Affairs Bureau, Ministry of Justice

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Corporation

Legal Form - Abbreviation

:

CORP

License Status

:

License exists - Normal.

Operational Status of Business

:

Normal

Employees

:

59

Capital

:

n/a (2)

 

Note:

(1) Legal status of the English corporate name
The English name of the Subject Business Entity (SBE) is a randomly selected translation / transliteration made by the owners of the SBE. It is not a registered English corporate name, but simply a translation / transliteration of the local language name.

 

(2) Not applicable.
Based on the current corporate laws of Japan there is no longer a requirement for Authorized Capital.

 

 

Adverse Data

 Results

:

Total of  0  record found.

 

 

Financials - Summary  

 

(Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2013 Annual  

174,894,990

70,668,305

3,152,794

2014 Annual  

156,415,310

61,568,165

2,687,296

2015 Annual  

148,231,081

59,196,219

2,280,728

 

 

Sales Trend – Analysis

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

-

-

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Recommended Credit Limit - Trade Finance

Maximum Recommended Credit

:

USD $7,000,000  based on  90 days

 

 

Key Person

Legal Title

:

President

Name

:

Mr. Kazuyuki Matsunaga

Local Name

:

松永一之

Nationality

:

Japanese

 

 

Primary Products

Products / Materials / Services Description

Activity

Functional food materials

Trading

General chemicals

Trading

Pharmaceutical products

Trading

Pharmaceutical raw materials

Trading

 

 

International Trade - Statistics  (Currency: USD - US Dollar)

Year

Imports

Exports

Total

2013

n/a

69,957,996

69,957,996

2014

n/a

62,566,124

62,566,124

2015

n/a

59,292,432

59,292,432

 

 

Commercial Credit Inquiries

Date of Inquiry

Industry
in which Inquirer Operates

Credit Type
(* / **)

Credit Amount

Period

28 Dec, 2015

Professional Services

MRC

USD 7,000,000

90 days

9 Aug, 2010

Financial Services - General

ISC

USD 200,000

90 days

 

Note:

*

MRC

:

Max. Recommended Credit amount

**

ISC

:

Inquirer Specified Credit amount

 

 

Fullcheck Report Details

 

 

 

 

 

 

Country

:

Japan

Business Entity Name

:

KANEMATSU CHEMICALS CORP

Primary Business Activity

:

Trader

Primary Industry

:

Chemicals

Office Contact Details

Operating Address

:

10Fl TT-2 Bldg 3-8-1 Nihonbashi-ningyocho, Chuo-ku, Tokyo 1030013

Tel

:

[+81] 3-56433011

Fax

:

[+81] 3-56433016

Website Details

Website

:

https://www.kccjp.co.jp

Status

:

Normal - operational

Country of Registration

:

Japan

Ownership Type

:

Registered ownership by Subject Business Entity

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Chemical preparations, nspf

2899

Trading

Chemicals and Allied Products

2800

Trading

Industrial inorganic chemicals, nspf

2819

Trading

Pharmaceutical preparations

2834

Trading

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Chemical products and preparations of the chemical or allied industries

3823905050

Trading

Inorganic chem, org/inorg compounds of precious metals, isotopes

2800

Trading

Miscellaneous chemical products

3800

Trading

Pharmaceutical products

3000

Trading

 

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

 

Products / Materials / Services Description

Ranking

Activity

Aromatic solvent

Secondary

Trading

Bulk pharmaceuticals

Secondary

Trading

Furfural

Secondary

Trading

Furfuryl alcohol

Secondary

Trading

Motor oils

Secondary

Trading

Paper chemicals

Secondary

Trading

 

 

CORE BUSINESS DESCRIPTION

 

Core Business

The primary business focus of KANEMATSU CHEMICALS CORP is Trading - Finished products.

Key products include :

Functional food materials

General chemicals

Pharmaceutical products

Pharmaceutical raw materials

 

Supplementary Business

In addition to the core business, KANEMATSU CHEMICALS CORP also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Finished products

 

 

DOMESTIC SALES & PURCHASES

 

Annual Sales Analysis

Percentage

Domestic Sales

60%

International Sales (Export)

40%

 

Annual Purchases Analysis

Percentage

Local Purchases

80%

Imports

20%

 

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

 

Direct Corporate Parent

:

KANEMATSU CORP

Global Identifier

:

P0002727

Legal Form Category

:

Public Listed Company

Country

:

Japan

Operational Address

:

Seavans North 1-2-1 Shibaura Minato-ku Tokyo 1058005

Primary Business Activity

:

Importer

 

 

COMPANY MANAGEMENT

 

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Naoki Hattori

Japanese

Auditor

-

2

Mr. Kazuyuki Matsunaga

Japanese

President

-

3

Mr. Masana Takahashi

Japanese

Managing Director

-

 

Management Details - 1

Personal Unique Identifier

:

MI03936581

Name

:

Mr. Naoki Hattori

Name in local language

:

服部直紀

 

Management Details - 2

Personal Unique Identifier

:

MI02473567

Name

:

Mr. Kazuyuki Matsunaga

Name in local language

:

松永一之

 

Management Details - 3

Personal Unique Identifier

:

MI03936492

Name

:

Mr. Masana Takahashi

Name in local language

:

高橋正名

 

 

FINANCIALS – SUMMARY

 

 (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2007 Annual

171,596,245

n/a

1,769,034

2008 Annual

195,164,833

68,960,214

680,069

2009 Annual

229,579,944

75,498,364

1,979,232

2010 Annual

190,716,452

70,479,879

2,616,059

2011 Annual

229,084,287

75,468,262

2,978,668

 

 

The latest Financial Summary of Direct Parent: KANEMATSU CORP (Currency: U.S. $'s)

Year

Turnover

Assets

Net Income

2014 Annual

10,843,928,780

4,168,700,136

114,798,599

 

 

CAPITAL 

 

(Currency: JPY - Japanese Yen)

Share Value

:

¥ 500

No. of Authorized Shares

:

600,000

Paid-up Capital

:

¥ 300,000,000

 

Date

Paid-up Capital - History

25 Sep, 1974

25,000,000

Mar, 1986

100,000,000

Mar, 2002

300,000,000

 

 

FINANCIAL STATEMENT – DETAILED

Balance Sheet

Currency

:

JPY

Denomination

:

1

Financial Year Ending

:

March

Financial Highlights

2013 Annual

2014 Annual

2015 Annual

Share Capital(*)

300,000,000

300,000,000

-

Total Liabilities(*)

6,617,336,000

6,572,191,000

-

Assets 

Current Assets(*)

6,757,725,000

6,694,498,000

-

Total Assets(*)

7,348,797,000

7,298,906,000

7,138,472,000

Non Current Assets(*)

591,072,000

604,408,000

-

Liabilities 

Non Current Liabilities(*)

159,844,000

171,973,000

-

Current Liabilities(*)

6,457,492,000

6,400,218,000

-

Shareholders Funds(*)

731,461,000

726,715,000

-

 

Current Assets

6,757,725,000

6,694,498,000

-

Fixed Assets

591,072,000

604,408,000

-

Total assets

7,348,797,000

7,298,906,000

-

Current Liabilities

6,457,492,000

6,400,218,000

-

Fixed Liabilities

159,843,000

171,973,000

-

Paid in Capital

300,000,000

300,000,000

-

Retained Earnings(Loss)

423,096,000

414,076,000

-

Valuation & Adjustment

8,365,000

12,639,000

-

Total Shareholders' Equity

731,461,000

726,715,000

-

Total Liabilities and Net Assets

7,348,796,000

7,298,906,000

-

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

JPY

Denomination

:

1

Financial Year Ending

:

March

Financial Highlights

2013 Annual

2014 Annual

2015 Annual

Turnover(*)

18,187,330,000

18,543,035,000

17,875,186,000

Profit After Tax attributable to Shareholders(*)

327,859,000

318,579,000

275,033,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2013 Annual

2014 Annual

2015 Annual

Growth % 

Year-on-Year Growth

(6.67)

1.96

-

Profitability 

Profit Margin (%)

1.80

1.72

-

Return on Equity (%)

44.82

43.84

-

Return on Assets (%)

4.46

4.36

-

Leverage 

Total Debt Equity (Times)

9.05

9.04

-

Current Debt Equity (Times)

8.83

8.81

-

Long Term Debt to Equity

0.22

0.24

-

Total Asset To Total Equity

10.05

10.04

-

Asset Management 

Total Assets Turnover (Times)

2.47

2.54

-

Fixed Assets Turnover (Times)

30.77

30.68

-

Liquidity 

Current Ratio

1.05

1.05

-

 

 

REPUTATION

 

Reference checking for the purpose of establishing KANEMATSU CHEMICALS CORP's reputation within the respective industry failed to reveal any adverse information.

 

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

 

 

DISHONORED CHECKS

 

No Record Found

 

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DEBT

 

No Record Found

 

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CIVIL LITIGATION

 

No Record Found

 

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PERFORMANCE DEFAULTS

 

No Record Found

 

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ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

No Record Found

 

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PAYMENT TERMS

 

Selling

Type

Terms

Local

Cash on delivery (COD)

Export

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Received at time of transaction

 

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

 

 

BANK DETAILS

 

Bank Name

:

BANK OF TOKYO-MITSUBISHI UFJ LTD, THE

Global Identifier

:

P0006866

Branch

:

Chiyoda-ku,Tokyo

Branch Address

:

BANK OF TOKYO-MITSUBISHI UFJ LTD , THE, YAESU-DORI

SWIFT Code

:

BOTKJPJT

 

Bank Name

:

SUMITOMO MITSUI BANKING CORP

Global Identifier

:

P0173197

Branch

:

Chiyoda-ku,Tokyo

Branch Address

:

SUMITOMO MITSUI BANKING CORP, NIHONBASHI

SWIFT Code

:

SMBCJPJT

 

 

LOCAL BRANCHES & MANAGEMENT

 

Branch

:

KANEMATSU CHEMICALS CORP - CHUO-KU, OSAKA-SHI

Branch Address

:

8Fl Midosuji Daiwa Bldg 3-6-8 Kyutaromachi, Chuo-ku, Osaka-shi, Osaka 5410047

Branch Tel

:

81-6-62820251

Branch Fax

:

81-6-62820254

License Status

:

License exists - Normal.

Primary use of location

:

#1. Office administration

 

 

RELATED PARTIES

 

(Subsidiaries , Joint-ventures & Affiliates)

 

The following provides a summary of the number of businesses that are related to KANEMATSU CHEMICALS CORP:

 

 

TYPE

DOMESTIC

TOTAL

Subsidiaries

1

Joint-Ventures

-

Minority shareholdings

-

Affiliates

-

Liaison / Representative Offices

-

 

Domestic

 

Business Entity Name

:

KANEMATSU WELLNESS CORP

Global Identifier

:

P0598663

Country

:

Japan

Relationship

:

Subsidiary

Operational Address

:

2-1 Shibaura 1-Chome, Minato-Ku, Tokyo 1050023

Primary Business Activity

:

Trader

Industry

:

Consumer Products

 

 

SHAREHOLDERS

 

Total number of shareholders

:

1

Total number of shares

:

600,000

 

Currency

:

JPY - Japanese Yen

 

No.

Shareholders

Country

Shares

Number

Amount (JPY)

%

1

KANEMATSU CORP

Japan

600,000

300,000,000

100.00

Total

600,000

300,000,000

100.00

 

Today's Exchange rate

:

1.00 JPY
Japanese Yen

=

0.008293 USD
United States Dollars

 

Based on corporate statutory laws / regulations in Japan, there is no requirement for public disclosure of Shareholders. In this case, the Shareholders information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03936491

Name

:

Mr. Hiroki Shimokawa

Name in local language

:

下川博紀

 

2

 

 

Personal Unique Identifier

:

MI03936486

Name

:

Mr. Hiroshi Shimada

Name in local language

:

島田宏

 

3

 

 

Personal Unique Identifier

:

MI02473567

Name

:

Mr. Kazuyuki Matsunaga

Name in local language

:

松永一之

 

4

 

 

Personal Unique Identifier

:

MI02473572

Name

:

Mr. Makoto Kudo

Name in local language

:

工藤誠

 

5

 

 

Personal Unique Identifier

:

MI03936492

Name

:

Mr. Masana Takahashi

Name in local language

:

高橋正名

 

 

INTERNATIONAL TRADE

 

Statistics (Currency: USD - US Dollar)

 

Year

Imports

Exports

Total

2007

n/a

68,638,498

68,638,498

2008

n/a

78,065,933

78,065,933

2009

n/a

91,831,978

91,831,978

2010

n/a

80,936,983

80,936,983

2011

n/a

91,633,715

91,633,715

2012

n/a

91,010,606

91,010,606

 

DOMESTIC SUPPLIERS

Business Entity Name

Global Identifier

DAIICHI SANKYO CO LTD

P1060473

INGREDION JAPAN CO LTD

P3344895

MARUZEN PETROCHEMICAL CO LTD

P0069496

MITSUI CHEMICAL CO LTD

P0962127

MIYOSHI OIL & FAT CO LTD

P0102053

SOJITZ CORP

P0006908

TOKUYAMA CORP

P0070561

MAPPING OF DOMESTIC SUPPLIERS

 

 

DOMESTIC CUSTOMERS

Business Entity Name

Global Identifier

DAIDO CHEMICAL INDUSTRY CO LTD

P0103193

DAIOH PAPER CORP

P3344982

HOKUSHIN CO LTD

P0471370

HYOGO PAPER MANUFACTURING CO LTD

P0477538

IWAKI DAIO PAPER CORP

P3344901

KINSHIDO CO LTD

P1007772

OHMIYA PAPER CORP

P3344900

SAN-EI SUCROCHEMICAL CO LTD

P0101464

SANYO KASEIHIN CO LTD

P3344897

YAMAICHI CHEMICAL INDUSTRIES CO LTD

P0596241

 

 

OFFICE & FACILITIES

The following information relates to the Business Entity's office as listed above:

Name

:

KANEMATSU CHEMICALS CORP - CHUO-KU, TOKYO

Primary Use

:

Office & Administration facilities

Address

:

10Fl TT-2 Bldg 3-8-1 Nihonbashi-ningyocho, Chuo-ku, Tokyo 1030013

Country

:

Japan

Status

:

Operational

 

 

QUALITY ACCREDITATION

 

Quality Accreditation Listings

#

Name

Accreditation Category

1

INTERNATIONAL STANDARDS ORGANIZATION (ISO)

14001

 

 

ACQUISITION - SBE HAS PURCHASED A BUSINESS ENTITY

 

Acquisition ( 1 )

Date of Acquisition       :           Sep, 2005

Circumstances Involved :           Strategic acquisition

 

Parties Involved

Business Entity Name

Country

KOWA SHOJI CO LTD

Japan

 

 

Acquisition ( 2 )

 

Date of Acquisition

:

Dec, 2008

Circumstances Involved

:

Strategic acquisition

 

 

Parties Involved

Business Entity Name

Country

NAGASAWA SHOUJI CO LTD

Japan

 

 

PREVIOUS CONTACT DETAILS

 

Company Address

:

2-8-5 Hacchobori, Chuo-ku, Tokyo 1040032

Date of Relocation

:

9 Mar, 2009

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.14

UK Pound

1

Rs.98.69

Euro

1

Rs.72.55

JPY

1

Rs. 0.55

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ASH

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.