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Report No. : |
301657 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
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Name : |
RYOYO TRADING CO LTD |
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Registered Office : |
Tokyo Sakurada Bldg 6F, 1-1-3 Nishi-Shimbashi Minatoku Tokyo 103-0003 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 (Estimated) |
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Date of Incorporation : |
February 1956 |
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Com. Reg. No.: |
0104-01-074051 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter and wholesaler of commodity Chemicals, Functional Chemicals, Engineering
Chemicals as well as engaged as an Insurance Broking Subject product ranges
includes:- Commodity
Chemicals Paints, Paint Materials, Methanol, Formalin, Methanol, Ethylamine,
Xylene, Urea, Styrene Monomer Functional
Chemicals Neopal, Purified Terephthalic Acid, Maleic Anhydride, Pure Isophthalic
Acid, Phthalic Acid Anhydride, Dimethyl Telephtalate Engineering
Plastics Polycarbonate Resin Lupion, Reny, Lupital, Novamid |
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No of Employees : |
56 |
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
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
RYOYO TRADING CO LTD
Ryoyo Shoji KK
Tokyo Sakurada
Bldg 6F, 1-1-3 Nishi-Shimbashi Minatoku Tokyo 103-0003, JAPAN
Tel:
03-3506-3750 Fax: 03-3580-8615
URL: http://www.ryoyotrading.com
E-Mail address: info-chem@ryoyotrading.com
Importer, exporter and wholesaler of commodity Chemicals, Functional Chemicals, Engineering
Chemicals as well as engaged as an Insurance Broking
Subject product
ranges includes:-
Commodity
Chemicals
Paints, Paint Materials, Methanol, Formalin, Methanol, Ethylamine,
Xylene, Urea, Styrene Monomer
Functional
Chemicals
Neopal, Purified Terephthalic Acid, Maleic Anhydride, Pure Isophthalic
Acid, Phthalic Acid Anhydride, Dimethyl Telephtalate
Engineering
Plastics
Polycarbonate Resin Lupion, Reny, Lupital, Novamid
Osaka,
Okayama, Niigata
China (4), Singapore
YOSHISHIGE
YAMAZAKI, PRES
Hiroaki
Nishijima, dir Motohiro
Sonoda, dir
Yoshihiro
Honda, dir Hiroyuki Nishiyama, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 45,478 M
PAYMENTSNo Complaints
CAPITAL Yen 90 M
TREND UP WORTH Yen 3,439 M
STARTED 1956 EMPLOYES 56
TRADING FIRM SPECIALIZING CHEMICALS, PETROCHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally as an insurance broking
company affiliated to Mitsubishi Gas Chemical Co Inc (See REGISTRATION), as Yuriga Trading Co Ltd. In 1979 renamed as captioned when the firm
expanded operations to import, export and wholesale of organic chemicals,
chemical products, petrochemicals. It
has grown into a core chemical trading firm of the Mitsubishi Chemical group. Goods are exported actively to China, Taiwan,
Korea, other. About 30% of the sales are
for exports. Operates four subsidiaries
in China and one in Singapore. Clients
include chemical mfrs, wholesalers, other.
The sales volume for Mar/2014 fiscal term amounted to Yen 45,478
million, a 14% up from Yen 39,741 million in the previous term. Exports were robust into China, Taiwan,
other. The recurring profit was posted
at Yen 478 million and the net profit at Yen 305 million, respectively,
compared with Yen 543 million recurring profit and Yen 252 million net losses,
respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 490 million and the net profit at Yen 370 million, respectively, on a 5%
rise in turnover, to Yen 47,750 million..
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Feb 1956
Regd No.: 0104-01-074051
(Tokyo-Minatoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
720,000 shares
Issued:
180,000 shares
Sum: Yen 90 million
Major shareholders (%): Mitsubishi Gas Chemical Co Inc*
(19.0), Ryoyu Industrial Corp (18.0), U-PICA
Co (15.0), Kagaku Unyu Ltd (15.0), Nisshin Unyu Co (15.0), ISP (11.0) (--all
group firms)
No. of shareholders: 7
*.. Major mfr of xylene & methanol, Tokyo, founded 1951, listed
Tokyo S/E, capital Yen 41,970 million, sales Yen 534,670 million, operating
profit Yen 11,416 million, recurring profit Yen 30,735 million, net losses Yen
14,971 million, total assets Yen 653,925 million, net worth Yen 320,307
million, employees 5,445, pres Toshikiyo Kurai
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales commodity chemicals, functional chemicals, engineering
chemicals, others (99%), insurance broking (1%)
Overseas Sales
Ratio (21%)
(Handling Items):
Commodity
Chemicals: paints, paint materials, methanol, formalin, methanol, ethylamine,
xylene, urea, styrene monomer, others;
Functional
Chemicals: neopal, purified terephthalic acid, maleic anhydride, pure isophthalic
acid, phthalic acid anhydride, dimethyl telephtalate, other.
Engineering
Plastics: polycarbonate resin lupion, reny, lupital, novamid, other
Clients: [Mfrs,
wholesalers] Mitsubishi Gas Chemical Co, U-PICA Co, Japan Finechem Co Ind, Agic
Yuan Jen Enterprise, Hokuriku Gas Engineering, OG Corp, Itochu Corp, other
Exports to China, Taiwan, Korea, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Gas
Chemical Co (40%), Itochu Corp, CGC Japan Co, Mitsui Bussan Chemicals Co, Fudow
Co, Asahi Kasei Chemicals, Nagase & Co, other
Imports from Korea, Taiwan,
other
Payment record: No
Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Toranomon)
Mizuho
Bank (Kanda)
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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47,750 |
45,478 |
39,741 |
40,903 |
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Recur.
Profit |
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490 |
478 |
543 |
518 |
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Net
Profit |
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320 |
305 |
252 |
345 |
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Total
Assets |
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15,772 |
17,408 |
16,996 |
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Current
Assets |
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14,753 |
16,406 |
16,026 |
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Current
Liabs |
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12,162 |
14,064 |
23,880 |
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Net
Worth |
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3,439 |
3,184 |
2,987 |
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Capital,
Paid-Up |
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90 |
90 |
90 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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5.00 |
14.44 |
-2.84 |
4.15 |
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Current Ratio |
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.. |
121.30 |
116.65 |
67.11 |
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N.Worth Ratio |
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.. |
21.80 |
18.29 |
17.57 |
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R.Profit/Sales |
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1.03 |
1.05 |
1.37 |
1.27 |
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N.Profit/Sales |
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0.67 |
0.67 |
0.63 |
0.84 |
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Return On Equity |
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.. |
8.87 |
7.91 |
11.55 |
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.61.85 |
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UK Pound |
1 |
Rs.93.27 |
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Euro |
1 |
Rs.71.57 |
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.