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Report No. : |
308271 |
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Report Date : |
14.02.2015 |
IDENTIFICATION DETAILS
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Name : |
UNION KASEI CO LTD |
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Registered Office : |
Ningyocho Amflat Bldg 4F, 2-35-12 Nihombashi-Ningyocho Chuoku Tokyo,
103-0013 |
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Country : |
Japan |
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Date of Incorporation : |
February 1972 |
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Com. Reg. No.: |
0100-01-111889 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is import, export, wholesale of
industrial chemicals, fertilizers, other |
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No. of Employee : |
11 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 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 |
UNION KASEI CO LTD
REGD NAME: Union
Kasei KK
MAIN OFFICE: Ningyocho
Amflat Bldg 4F, 2-35-12 Nihombashi-Ningyocho Chuoku Tokyo
103-0013 JAPAN
Tel: 03-5652-1581
Fax: 03-3664-0020
URL: http://www.unionkasei.co.jp
E-Mail
address: (thru the URL)
Import,
export, wholesale of industrial chemicals, fertilizers, other
Nil
SATOSHI
MATSUMOTO, PRES Akio Abe, rep dir
Takashii
Matsumoto, adviser Hiroshi Inoue, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 938 M
PAYMENTSSLOW
BUT CORRECT CAPITAL Yen 12 M
TREND SLOW WORTH Yen 599 M
STARTED 1972 EMPLOYES 11
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Kazuo Matsumoto, now
major shareholder of the firm, in order to make most of his experience in the
subject line of business. Satoshi is his
son, who took the pres office in Mar 2009.
This is a trading firm specializing in import, export and wholesale of
industrial chemicals, fertilizers, other.
Clients include chemical mfrs, agricultural coops, other.
The sales volume for Jun/2014 fiscal term amounted to Yen
938 million, a 2% down from Yen 955 million in the previous term. The operations came back to profitability to
post Yen 6 million recurring profit and Yen 2 million net profit, respectively,
compared with Yen 36 million recurring loss and Yen 33 million net losses,
respectively, a year ago.
For the current term ending Jun 2015 the recurring profit is
projected at Yen 35 million and the net profit at Yen 15 million, respectively,
on a 5% rise in turnover, to Yen 985 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date
Registered: Feb 1972
Regd
No.: 0100-01-111889 (Tokyo-Chuoku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 96,000 shares
Issued:
24,000 shares
Sum:
Yen
12 million
Major
shareholders (%): Kazuo Matsumoto (48), Satoshi Matsumoto (27), Takashi
Matsumoto (14), Hisako Matsumoto (11)
No.
of shareholders: 4
Nothing detrimental is known as to
the commercial morality of executives.
Activities: Imports, exports and wholesales
industrial chemicals/ fertilizers: UNISIL products, jumbo bags, paper bags,
industrial jumbo bags, silica fume, silica flour, silica gel, other (--100%)
Clients: [Mfrs, wholesalers] Hokuren
Agricultural Association, Mitsubishi Chemical, LIXIL Corp, Jcam Agri Co, Japan
Soft Land Inc, MC Ferticom Co, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsui Kinzoku
Recycle Co, Taiheiyo Cement, Taiheiyo Material, Kuraray Trading, Showa KDE Co,
other.
Payment record: Regular
Location:
Business area in Chuoku, Tokyo. Office
premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Aoyamadori)
Mizuho Bank (Gaienmae)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
30/06/2015 |
30/06/2014 |
30/06/2013 |
30/06/2012 |
|
|
Annual
Sales |
|
985 |
938 |
955 |
1,030 |
|
Recur.
Profit |
|
35 |
6 |
-36 |
-1 |
|
Net
Profit |
|
15 |
2 |
-33 |
-1 |
|
Total
Assets |
|
|
704 |
716 |
719 |
|
Current
Assets |
|
|
653 |
638 |
638 |
|
Current
Liabs |
|
|
102 |
70 |
76 |
|
Net
Worth |
|
|
599 |
596 |
630 |
|
Capital,
Paid-Up |
|
|
12 |
12 |
12 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.01 |
-1.78 |
-7.28 |
1,675.86 |
|
Current Ratio |
|
.. |
640.20 |
911.43 |
839.47 |
|
N.Worth Ratio |
|
.. |
85.09 |
83.24 |
87.62 |
|
R.Profit/Sales |
|
3.55 |
0.64 |
-3.77 |
-0.10 |
|
N.Profit/Sales |
|
1.52 |
0.21 |
-3.46 |
-0.10 |
|
Return On Equity |
|
.. |
0.33 |
-5.54 |
-0.16 |
Notes:
Forecast (or estimated) figures for the 30/06/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.13 |
|
|
1 |
Rs.95.77 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.