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Report No. : |
307034 |
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Report Date : |
07.02.2015 |
IDENTIFICATION DETAILS
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Name : |
O-WELL CORPORATION |
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Registered Office : |
5-13-9 Mitejima Nishiyodogawaku |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
Nov., 1943 |
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Com. Reg. No.: |
(Osaka-Nishiyodogawaku) 049291 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Paints and Coatings,
Chemicals, Electronics. |
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No. of Employees : |
449 |
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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Maximum Credit Limits : |
YEN 1,190.1 MILLION |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 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 |
O-WELL CORPORATION
REGD NAME: O-Well
KK
MAIN OFFICE: 5-13-9
Mitejima Nishiyodogawaku Osaka 555-0012 JAPAN
Tel: 06-6473-0138 Fax: 06-6476-2200
*.. The is its Onomichi-Fukuyama Office in Hiroshima-Pref
E-Mail address: (thru
the URL)
Import,
export, wholesale of paints & coatings, chemicals, electronics
Tokyo,
Osaka, Nagoya, Sendai, Fukushima, other (Tot 35)
Vietnam,
Korea, China (2)
(Subcontracted)
KATSUJI
TOBITO, PRES Fumiyoshi
Miyamoto, ch
Shin’ya
Tanaka, mgn dir Makoto Tega, mgn dir
Shuhei
Nishida, dir Naoki
Otsu, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 54,376 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 857 M
TREND UP WORTH Yen 9,260 M
STARTED 1943 EMPLOYES 449
TRADING FIRM SPECIALIZING IN PAINTS & COATINGS,
CHEMICALS, ELECTRONICS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1,190.1 MILLION, 30 DAYS NORMAL TERMS
The
subject company was established by father of Fumiyoshi Miyamoto in order to
make most of his experience in the subject line of business. This is a trading firm specializing for
import, export and wholesale of paints & coatings, chemicals, electronics
products, other. Operates 4 overseas
offices: China (2), Korea and Vietnam.
Goods are exported to China, Thailand, Korea, India, other S/E Asian
markets. Local clients include major
automakers, electronics makers, other, nationwide.
The
sales volume for Mar/2014 fiscal term amounted to Yen 54,376 million, a 6% up
from Yen 51,232 million in the previous term.
This is attributed to the robust exports into China, Vietnam, India,
Korea, other S/E Asian countries, supported by increased car production. The recurring profit was posted at Yen 996
million and the net profit at Yen 529 million, respectively, compared with Yen
821 million recurring profit and Yen 394 million net profit, respectively, a
year ago.
For
the current term ending Mar 2015 the recurring profit is projected at Yen 1,100
million and the net profit at Yen 540 million, respectively, on a 5% rise in
turnover, to Yen 57,000 million. Exports
continue rising steadily. The weaker Yen
may increase export revenues in Yen terms.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 1,190.1 million, on 30 days normal terms.
Date Registered: Nov 1943
Regd No.: (Osaka-Nishiyodogawaku) 049291
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
40 million shares
Issued:
10.5 million shares
Sum: Yen 857 million
Major shareholders (%): Employees’ S/Holding Assn
(15.1), Nippon Paint (9.3), Kansai Paint (7.2), Dai Nippon Toryo Co (5.7), MUFG
(4.3)
No. of shareholders: 199
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading firm for import, export and
wholesale of paints & coatings, chemicals, electronics products, other:
(Sales Breakdown by Divisions):
Paints & Coatings Div (56%): paints & coatings, coating
equipment & materials, surface treatment agents, other;
Chemicals Div (18%): adhesives, sealants, tapes,
films, resins, filters, heat resistant materials, other;
Electronics Div (20%): Hall IC, microcontroller,
motor driver, magnetic circuit, other semiconductor-related materials;
Others (6%).
Clients: [Mfrs, wholesalers] Denso Corp, Nissan
Motors, Fuji Heavy Ind, LIXIL, Mitsubishi Motors, Panasonic Corp, Nippon Steel
& Sumikin Coating Steel Corp, Yutaka Giken, Universal Shipbuilding Corp, Okamura
Corp, Nippon Steel & Sumitomo Metal Corp, other
No. of accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nippon Paint Co,
Kansai Paint Co, Sumitomo 3M, Dai Nippon Toryo Co, Nippon Fine Coatings,
Micronas International, Nippon Bee Chemical Co, Nihon Tokushu Toryo Co, other
Payment record: No
Complaints
Location:
Business area in Osaka. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Semba-Chuo)
SMBC (Midosuji)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
57,000
|
54,376
|
51,232
|
49,838
|
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Recur.
Profit |
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1,100
|
996 |
821 |
592 |
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Net
Profit |
|
540 |
529 |
394 |
307 |
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Total
Assets |
|
|
32,784
|
30,483
|
30,785
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Current
Assets |
|
|
22,800
|
22,226
|
23,433
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Current
Liabs |
|
|
19,514
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19,361
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20,260
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Net
Worth |
|
|
9,260
|
7,680
|
6,781
|
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Capital,
Paid-Up |
|
|
857 |
857 |
857 |
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Div.P.Share(¥) |
|
|
8.00 |
6.00 |
6.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.83 |
6.14 |
2.80 |
3.41 |
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Current Ratio |
|
.. |
116.84
|
114.80
|
115.66
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N.Worth Ratio |
|
.. |
28.25
|
25.19
|
22.03
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R.Profit/Sales |
|
1.93 |
1.83 |
1.60 |
1.19 |
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N.Profit/Sales |
|
0.95 |
0.97 |
0.77 |
0.62 |
|
Return On Equity |
|
.. |
5.71 |
5.13 |
4.53 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
|
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.