|
Report No. : |
301232 |
|
Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOYOTSU CHEMIPLAS CORPORATION |
|
|
|
|
Registered Office : |
Shinagawa Front Bldg 11F, 2-3-13 Konan Minatoku Tokyo 108-0075 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Date of Incorporation : |
April 2006 |
|
|
|
|
Com. Reg. No.: |
0104-01-091292 (Tokyo-Minatoku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Imports, exports and wholesales of industrial chemicals. |
|
|
|
|
No. of Employee : |
357 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 |
TOYOTSU CHEMIPLAS CORPORATION
REGD NAME: Toyotsu
Chemiplas KK
MAIN OFFICE: Shinagawa
Front Bldg 11F, 2-3-13 Konan Minatoku Tokyo 108-0075 JAPAN
Tel: 03-4306-8660 Fax: 03-4306-8920
*..
The is its Osaka Office
URL: http://www.toyotsu-chemiplas.com
E-Mail
address: info@toyotsus-chemiplas.com
ACTIVITIES: Import, export, wholesale of automotive
parts, IT & electronics, industrial
Chemicals, housing
materials, packaging materials
BRANCHES: Osaka, Nagoya, Niigata, Shizuoka
OVERSEAS: Europe, Africa, Near/Middle East, Oceania,
North America, Latin America, Asia (utilizing
Toyota Tsusho Group firms’ agents & offices)
OFFICERS: HIDEKI KANATANI, PRES Yoshio Mizuno, s/mgn dir
Toshiharu
Saito, mgn dir Hiroshi
Hosokawa, mgn dir
Takashi Kito, mgn dir Osamu Moriyama, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 176,843 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 670 M
TREND STEADY WORTH Yen
10,534 M
STARTED 2006 EMPLOYES 357
COMMENT: TRADING HOUSE, WHOLLY OWNED BY TOYOTA
TSUSHO CORP.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of intra-company “Tomen Chemical Corporation” separated from Tomen Corp to become Tomen Chemical Co Ltd. In Apr 2006, when Tomen Corp and Toyota Tsusho Corp merged, the firm became a wholly owned subsidiary of Toyota Tsusho Corp (See REGISTRATION). In Apr 2009, merged Toyota Tsusho group firms and renamed as captioned. By the merger handling items expanded to include automotive parts & materials. This is a trading house for import, export and wholesale of automotive parts, IT & electronics, housing materials, coating materials, foodstuffs, other, in addition to industrial chemicals. Goods are imported from and exported to worldwide countries. Clients are major chemical industries, pharmaceuticals, cosmetics, other, nationwide.
The sales volume for Mar/2014 fiscal term amounted to Yen
176,843 million, a 7% up from Yen 165,482 million a year ago. Exports of automotive parts/materials rose to
North America. The recurring profit was
posted at Yen 3,106 million and the net profit at Yen 1,869 million,
respectively, compared with Yen 3,040 million recurring profit and Yen 1,817
million net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is
projected at Yen 3,200 million and the net profit at Yen 1,950 million,
respectively, on a 5% rise in turnover, to Yen 185,500 million. Exports to North America continues steadily.
The financials
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr 2006
Regd No.: 0104-01-091292 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
32,000 shares
Issued:
13,400 shares
Sum: Yen 670 million
Major shareholders (%): Toyota Tsusho Corp*(100)
*.. Toyota Tsusho Corp, sole trading house in Toyota group, Tokyo, founded 1948, listed Tokyo, Nagoya S/E’s, capital Yen 64,936 million, turnover Yen 7,743,237 million, operating profit Yen 161,321 million, recurring profit Yen 163,438 million, net profit Yen 73,034 million, total assets Yen 4,094,048 million, net worth Yen 967,332 million, employees 50,423, pres Jun Karube
Nothing detrimental is known as to the commercial morality of executives.
Activities:
Imports, exports and wholesales industrial chemicals, others (--100%).
(Handling items by Divisions):
Automotive Parts & Materials: various molding products, synthetic & natural rubbers, plastic materials, auto
chemical goods, automotive materials & interior/exterior materials, urethane raw materials & products;
IT Electronics: high-functioning resin raw materials and moldings, optics system materials & parts, semiconductor parts;
Packaging Materials: synthetic resin raw materials, resin films & sheets, resin & containers;
Housing Materials: recycled raw materials & environmental products, paint, ink & adhesives raw materials, synthetic woods & products, housing materials, interior and exterior housing materials, urethane raw materials & products;
Daily Necessities, Beauty & Health Care: functional resin ingredients, detergent materials & products, toothpaste & oral hygiene raw materials, medical & hygienic materials & products, cosmetics raw materials, oleo chemicals;
Coating Materials: solvents, paint, ink & adhesive raw materials;
Foodstuffs & Medicine Materials: animal feed additives, functional food products, pharmaceutical raw materials
Clients: [Chemical mfrs, pharmaceuticals, other mfrs] Toyota Tsusho Corp (6%),Sanyo Chemical Ind, Lion Corp, Takeda Chemical, Miyoshi Fats, Asahi Kasei Chemicals, Kanebo Cosmetics, Hitachi Kasei Polymer, Toray Ind, Showa Highpolymer, Bridgestone, Inoac International Corp, Konica Minolta Group, other.
Exports (50%) to: USA, Taiwan, Korea, Indonesia, Singapore, Malaysia, Thailand,
Philippines, Hong Kong, Australia, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Toyota Tsusho Corp (22.8%), Sanyo Chemical Ind, Nippon Shokubai, Tosoh, Showa Denko, Nippon Petrochemicals, Mitsui Chemical, Mitsubishi Chemical, BASF Japan, Toyo Aluminium, Asahi Kasei Chemicals, other
Imports (50%) from: USA, Brazil, Germany, Spain, Italy, France, Indonesia, Taiwan, Korea, China, Malaysia, other.
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Tokyo)
SMBC (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
185,500 |
176,843 |
165,482 |
166,456 |
|
Recur.
Profit |
|
3,200 |
3,106 |
3,040 |
3,188 |
|
Net
Profit |
|
1,950 |
1,869 |
1,817 |
1,768 |
|
Total
Assets |
|
|
60,219 |
57,535 |
59,882 |
|
Current
Assets |
|
|
56,675 |
54,476 |
57,344 |
|
Current
Liabs |
|
|
48,759 |
47,507 |
50,835 |
|
Net
Worth |
|
|
10,534 |
9,243 |
8,315 |
|
Capital,
Paid-Up |
|
|
670 |
670 |
670 |
|
Div.Ttl
in Million (¥) |
|
|
910 |
884 |
770 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.90 |
6.87 |
-0.59 |
4.72 |
|
Current Ratio |
|
.. |
116.23 |
114.67 |
112.80 |
|
N.Worth Ratio |
|
.. |
17.49 |
16.07 |
13.89 |
|
R.Profit/Sales |
|
1.73 |
1.76 |
1.84 |
1.92 |
|
N.Profit/Sales |
|
1.05 |
1.06 |
1.10 |
1.06 |
|
Return On Equity |
|
.. |
17.74 |
19.66 |
21.26 |
Notes:
Forecasts for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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.