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Report No. : |
308717 |
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Report Date : |
18.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SEMCO CO LTD |
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Registered Office : |
1-26-5 |
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Country : |
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Financials (as on) : |
31.12.2014 (Estimated) |
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Date of Incorporation : |
November 1969 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Power Sprayer, Hand
Compression Sprayer, Indoor Residential Hand Compression Sprayer, |
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No of Employees : |
27 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
|
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 |
SEMCO CO LTD
KK Kankyo Kiki (Kankyo means Environment, Kiki means Equipment)
1-26-5 Kawanishicho Takatsuki City Osaka-Pref 569-1133 JAPAN
Tel: 072-681-1175 Fax: 072-681-1177
URL: http://www.semco.net
E-Mail address: (thru
the URL)
Importer, Exporter and Wholesaler of Power Sprayer, Hand
Compression Sprayer, Indoor Residential Hand Compression Sprayer, Pest Control
Products, Insecticides, Termiticides, Rodenticides, Traps, Sprayers &
Protective goods
Tokyo, Saga
JUN’ICHIRO KATAYAMA, PRED
Michiko Katayama, ch
Takeyuki Fukui, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,413 M
PAYMENTS No Complaints CAPITAL Yen
10 M
TREND UP WORTH Yen 708 M
STARTED 1973 EMPLOYES 27
TRADING
FIRM SPECIALIZING IN INSECTICIDES, OTHER.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1969 as mfr of sprayers for sanitary-use, and was incorporated in 1973 as Semco Co Ltd. This is a trading firm for import, export and wholesale of power sprayer, hand sprayer, pest control products, insecticides. Clients include sterilization mfrs, wholesalers, other, nationwide
The sales volume for Dec/2013 fiscal term amounted to Yen 3,413 million, a 6% up from Yen 2,285 million in the previous term. The recurring profit was posted at Yen 205 million and the net profit at Yen 120 million, respectively, compared with Yen 135 million recurring profit and Yen 81 million net profit, respectively, a year ago.
For the term that ended Dec 2014
the recurring profit was projected at Yen 220 million and the net profit at Yen
130 million, respectively, on a 5% rise in turnover, to Yen 2,530 million. Final results are yet to be released.
The financial situation is
considered FAIR and good for ORDINARY business
engagements.
Date Registered: Nov
1969
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 20,000 shares
Sum: Yen 10 million
Major shareholders (%): Jun’ichiro Katayama (98), Shigeo Yamaguchi, Takeyuki Fukui
(each 1)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality
of executives.
Activities: Importer, Exporter and Wholesaler of Power Sprayer, Hand Compression Sprayer, Indoor Residential Hand Compression Sprayer, Pest Control Products, Insecticides, Termiticides, Rodenticides, Traps, Sprayers & Protective goods
Clients: [Mfrs, wholesalers] Arimitsu Ind, Ikari Corp, Duskin Co, Nissei Trading, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsui Chemicals Agro Inc, Japan Enviro Chemicals Co, Semco Taiwan, Nagata Seisakusyo, KK FJX, Bayer Crop Science, other
Payment record: No Complaints
Location: Business area in Takatsuki City, Osaka-Pref. Office premises at the caption address are owned and maintained satisfactory.
Bank References:
Kita Osaka Shinkin Bank (Akutagawa)
Toto Shinkin Bank (Takatsuki)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
|
Annual
Sales |
|
2,530 |
2,413 |
2,285 |
2,073 |
|
Recur.
Profit |
|
220 |
205 |
135 |
|
|
Net
Profit |
|
130 |
120 |
81 |
91 |
|
Total
Assets |
|
|
1,093 |
1,004 |
884 |
|
Current
Assets |
|
|
891 |
818 |
|
|
Current
Liabs |
|
|
385 |
416 |
|
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Net
Worth |
|
|
708 |
588 |
507 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.85 |
5.60 |
10.23 |
10.97 |
|
Current Ratio |
|
.. |
231.43 |
196.63 |
.. |
|
N.Worth Ratio |
|
.. |
64.78 |
58.57 |
57.35 |
|
R.Profit/Sales |
|
8.70 |
8.50 |
5.91 |
.. |
|
N.Profit/Sales |
|
5.14 |
4.97 |
3.54 |
4.39 |
|
Return On Equity |
|
.. |
16.95 |
13.78 |
17.95 |
Notes: Forecast (or estimated) figures for the 31/12/2014
fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
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Report Prepared
by : |
MNL |
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.