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Report No. : |
307032 |
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Report Date : |
09.02.2015 |
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) : |
31.03.2015 (Estimated) |
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Date of Incorporation : |
November 1943 |
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Com. Reg. No.: |
(Osaka-Nishiyodogawaku) 049291 |
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Legal Form : |
Limited Company |
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Line of Business : |
Engaged as importer, exporter and wholesaler of Paints & Coatings, Chemicals & Electronics Products. |
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No of Employees : |
449 (31.03.2014) |
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 Limit : |
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) |
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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 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.
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Source
: CIA |
O-WELL CORPORATION
O-Well KK
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)
Engaged
as importer, exporter and wholesaler of Paints & Coatings, Chemicals &
Electronics Products.
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 (31.03.2014)
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. 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:
(Sales Breakdown by Divisions):
Paints & Coatings Div (56%): paints & coatings, coating equipment & materials as well as surface treatment agents
Chemicals Div (18%): adhesives, sealants, tapes, films, resins, filters & heat resistant materials
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)
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Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual
Sales |
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57,000 |
54,376 |
51,232 |
49,838 |
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Recur.
Profit |
|
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 |
19,361 |
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> |
|
(%) |
(%) |
(%) |
(%) |
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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 |
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1.93 |
1.83 |
1.60 |
1.19 |
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N.Profit/Sales |
|
0.95 |
0.97 |
0.77 |
0.62 |
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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 |
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UK Pound |
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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.