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Report No. : |
308135 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
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Name : |
DSP GOKYO FOOD & CHEMICAL CO LTD |
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Registered Office : |
Herbis Osaka 20F, 2-5-25 Umeda Kitaku |
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Country : |
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Financials (as on) : |
31.03.2015 (Estimated) |
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Date of Incorporation : |
02.10.1947 |
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Com. Reg. No.: |
1200-01-079286 (Osaka-Kitaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Engaged in Manufacturing, sales, Wholesaler, Exporter and importer of Food Additives, Personal Care Products,
Pharmaceutical Excipients, Electronics Materials, Coatings and Fine Chemicals |
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No. of Employee : |
173 |
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 1,371.4 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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
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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 |
DSP GOKYO FOOD & CHEMICAL CO LTD
REGD NAME: DSP
Gokyo Food & Chemical KK
MAIN OFFICE: Herbis
Osaka 20F, 2-5-25 Umeda Kitaku Osaka 530-0001 JAPAN
Tel: 06-7177-6866
Fax: 06-7177-8941
URL: http://www.dsp-gokyo-fc.co.jp
E-Mail address: (thru the URL)
Engaged in Manufacturing, sales,
Wholesaler, Exporter and importer
of Food Additives, Personal Care Products, Pharmaceutical Excipients,
Electronics Materials, Coatings and Fine Chemicals
Tokyo,
Nagoya
(subsidiaries)
TETSUYA
OIDA, PRES Yasuyuki Yukawa, dir
Hiroshi
Egawa, dir Hidema
Hizawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 26,990 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND UP WORTH
Yen 12,514 M
STARTED 1947 EMPLOYES 173
TRADING FIRM SPECIALIZING
INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 1,371.4 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established on the basis of a division separated from Sumitomo Dainippon Pharma Co Ltd (See REGISTRATION). This is a trading firm specializing in Manufacturing, sales, Wholesaler, Exporter and importer of Food Additives, Personal Care Products, Pharmaceutical Excipients, Electronics Materials, Coatings and Fine Chemicals. Clients include chemical mfrs, pharmaceuticals mfrs, others, nationwide.
The sales volume for Mar/2014 fiscal term amounted to Yen
26,990 million, a 2% up from Yen 26,599 million in the previous term. Food materials, food additives, etc were in
much demand and exports rose. The net
profit was posted at Yen 1,130 million, respectively, compared with Yen 1,832
million recurring profit and Yen 1,125 million net profit, respectively, a year
ago.
For the current term ending Mar 2015 the recurring profit is
projected at Yen 1,950 million and the net profit at Yen 1,200 million,
respectively, on a 5% rise in turnover, to Yen 28,300 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,371.4 million, on 30 days normal terms.
Date Registered: 2
Oct 1947
Regd No.: 1200-01-079286
(Osaka-Kitaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 8 million shares
Issued:
2 million
shares
Sum: Yen
100 million
Major shareholders (%): Sumitomo Dainippon Pharma Co Ltd* (100)
*.. Pharmaceutical producer
specializing in prescription drugs, Osaka, founded 1897, listed Tokyo S/E, capital Yen 22,400 million,
sales Yen 387,693 million, operating profit Yen
42,142 million, recurring profit Yen 40,631 million, net profit Yen 20,060
million, total assets Yen 638,383
million, net worth Yen 396,143 million, employees 7,009, pres Masaya Tada
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Engaged in Manufacturing, sales, Wholesaler, Exporter and importer of Food Additives, Personal
Care Products, Pharmaceutical Excipients, Electronics Materials, Coatings and
Fine Chemicals
Clients: [Mfrs, wholesalers] Nabelin Co, Kongo
Yakuhin, Aoba Kasei, Mitsubishi Corp, Sakurai Tsusho Corp, other
No. of
accounts: 350
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] BASF Japan, Mitsui
Chemical, Shikibo Co, CP Kelco, Suntegre Co, other
Payment record: Regular
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactory.
Bank References:
SMBC (H/O)
MUFG (Kawaramachi)
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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28,300 |
26,990 |
26,599 |
26,623 |
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Recur.
Profit |
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1,950 |
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1,832 |
1,822 |
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Net
Profit |
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1,200 |
1,130 |
1,125 |
1,040 |
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Total
Assets |
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17,835 |
17,960 |
18,118 |
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Current
Assets |
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15,842 |
16,588 |
16,808 |
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Current
Liabs |
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4,938 |
5,760 |
6,658 |
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Net
Worth |
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12,514 |
12,034 |
11,281 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
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Div.P.Share(¥) |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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4.85 |
1.47 |
-0.09 |
4.98 |
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Current Ratio |
|
.. |
320.82 |
287.99 |
252.45 |
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N.Worth Ratio |
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.. |
70.17 |
67.00 |
62.26 |
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R.Profit/Sales |
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6.89 |
.. |
6.89 |
6.84 |
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N.Profit/Sales |
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4.24 |
4.19 |
4.23 |
3.91 |
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Return On Equity |
|
.. |
9.03 |
9.35 |
9.22 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 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. 62.14 |
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|
1 |
Rs. 95.78 |
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Euro |
1 |
Rs. 71.05 |
INFORMATION DETAILS
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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 |
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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.