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Report No. : |
303945 |
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Report Date : |
17.01.2015 |
IDENTIFICATION DETAILS
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Name : |
AKROS TRADING CO
LTD |
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Registered Office : |
Shiba Park Bldg B-Wing 5F, 2-4-1 Shibakoen Minatoku Tokyo 105-8508 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April, 1932 |
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Com. Reg. No.: |
0104-01-031626 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Steel Materials, Building
Materials, Electronics. |
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No. of Employees : |
133 |
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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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
AKROS TRADING CO LTD
REGD NAME: KK
Akros Shoji
MAIN
OFFICE: Shiba Park Bldg
B-Wing 5F, 2-4-1 Shibakoen Minatoku Tokyo 105-8508
JAPAN
Tel:
03-5405-6000 Fax:
03-5405-6034
URL: http//:www.akros-trading.com
E-mail: (thru the URL)
Import,
export, wholesale of steel materials, building materials, electronics
Sapporo,
Osaka, Nagoya, Fukuoka, Oita, Yawata, other (Tot 11)
Taiwan
(2), China (3), Hong Kong, Singapore, India, Korea, Malaysia, Indonesia
MAMORU
HOSHI, PRES Shigeru Matsumoto,
s/mgn dir
Shoji Okabe, mgn dir Hsu Tzyh Lih, mgn dir
Ryoichi Yamamoto dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 58,816 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 1,200 M
TREND UP WORTH Yen 3,099 M
STARTED 1932 EMPLOYES 133
TRADING
FIRM SPECIALIZING IN CHEMICALS, STEEL MATERIALS, OTHER,
AFFILIATED
WITH DENKI KAGAKU KOGYO KK
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The
subject company was established by a local entrepreneur in order to wholesale
chemicals and steel products, names as Hissan Trading Co Ltd. Incorporated in 1932 and the firm became a
subsidiary of Denki Kagaku Kogyo KK (See REGISTRATION). In Aug 2010, transferred the business
operations from a subsidiary, Aiko Chemical Co Ltd. In Oct 2012, merged with Rokko Shoji KK and
renamed as captioned. This is a trading
firm specializing in import, export and wholesale of industrial chemicals, steel
mfg materials, paper-related products, electronics, other. Has eight overseas subsidiaries in Hong Kong,
Taiwan, Singapore, India, Korea, China, Indonesia, and Malaysia.
The sales volume for Mar/2014 fiscal term amounted to Yen
58,816 million, a 23% up from Yen 47,746 million in the previous term. Sales volume rose. Exports increased, particularly to
China. The recurring profit was posted
at Yen 310 million and the net profit at Yen 157 million, respectively,
compared with Yen 226 million recurring profit and Yen 151 million net profit,
respectively, a year ago. .
For the current term ending Mar 2015 the recurring profit is
projected at Yen 330 million and the net profit at Yen 170 million,
respectively, on a 5% rise in turnover, to Yen 62,000 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Apr
1932
Regd No.: 0104-01-031626
(Tokyo-Minatoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 36
million shares
Issued: 26,025,856
shares
Sum: Yen 1,200 million
Major shareholders (%): Denki Kagaku Kogyo KK* (68.4),
Japan Pulp & Paper (13.2), Mizuho Bank (3.9)
No. of shareholders: 72
* Leading second-tier comprehensive chemical mfr, Tokyo,
founded 1915, listed Tokyo S/E, capital Yen 36,998 million, sales Yen 376,809
million, operating profit Yen 21,230 million, recurring profit Yen 20,604
million, net profit Yen 13,573 million, total assets Yen 431,521 million, net
worth Yen 185,244 million, employees 5,249, pres Shinsuke Yoshitaka
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Trading firm for import, export and
wholesale of:
Chemicals & Plastics (33%): inorganic chemicals, solvents,
monomers, adhesives, synthetic resins, plastics, packaging materials, plastic
films, plastic sheets;
Steel & Iron Materials & Welding Materials (26%): ferroalloys,
stainless scraps, refractory metals, stainless steel plates, pipes, titanium,
welding materials, high-pressure gases, fire-proof cement, high-pressure gas
vessels, waste water disposal facilities;
Paper-Related Products (10%): paper-related chemicals,
silicon, adhesives, pulps, waste paper, other;
Building Materials (10%): cement, admixtures, water-proof
materials, construction & building materials, water-proof works, floorings,
others;
High-Functional Chemicals
(15%): synthetic rubber, conveyor belts, adhesives, sponge wet suits, cables,
gloves, wipers, air suspensions, car motor cycle parts, hoses, boots;
Electronics Materials (6%): semiconductor related materials,
LCD-related materials, photo-resist materials, other.
Clients: [Mfrs, wholesalers] Oji Paper Ind, Itochu
Plastics, Oji Green Resources, Denki Kagaku Kogyo, NEC Semiconductors Kansai,
Nippon Steel & Sumikin Metal Corp, Sanyo Chemical Ind, Shinsho Corp, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Denki Kagaku
Kogyo, BASF Catalysts LLC, Toagosei Co, Tokyo Ohka Kogyo, other
Payment record: No
Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Uchisaiwaicho)
SMBC (Kyobashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
62,000 |
58,816 |
47,746 |
45,218 |
|
Recur.
Profit |
|
330 |
310 |
226 |
258 |
|
Net
Profit |
|
170 |
157 |
151 |
160 |
|
Total
Assets |
|
|
21,536 |
19,720 |
16,713 |
|
Current
Assets |
|
|
18,861 |
16,657 |
14,669 |
|
Current
Liabs |
|
|
17,816 |
15,768 |
13,683 |
|
Net
Worth |
|
|
3,099 |
2,874 |
2,465 |
|
Capital,
Paid-Up |
|
|
1,200 |
1,200 |
1,200 |
|
Div.P.Share(¥) |
|
|
3.00 |
3.00 |
3.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.41 |
23.19 |
5.59 |
.. |
|
Current Ratio |
|
.. |
105.87 |
105.64 |
107.21 |
|
N.Worth Ratio |
|
.. |
14.39 |
14.57 |
14.75 |
|
R.Profit/Sales |
|
0.53 |
0.53 |
0.47 |
0.57 |
|
N.Profit/Sales |
|
0.27 |
0.27 |
0.32 |
0.35 |
|
Return On Equity |
|
.. |
5.07 |
5.25 |
6.49 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
|
|
1 |
Rs.93.92 |
|
Euro |
1 |
Rs.72.01 |
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.