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Report No. : |
303421 |
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Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
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Name : |
HIKA & CO LTD |
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Registered Office : |
530 Karatsuyamacho Shijo-dori Horikawa Nishi-iru Shimogyoku Kyoto 600-8499 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
September 1947 |
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Com. Reg. No.: |
1300-01-018527 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of industrial
chemicals |
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No. of Employees : |
56 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limits : |
Yen 167.1 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 |
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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
|
Source
: CIA |
HIKA & CO LTD
REGD NAME: Hika
Sangyo KK
MAIN OFFICE: 530
Karatsuyamacho Shijo-dori Horikawa Nishi-iru Shimogyoku Kyoto
600-8499 JAPAN
Tel: 075-801-6311
Fax: 075-812-3217
*.. The given postcode
is of its Osaka Office
E-Mail address: international-info@hika.co.jp
Import, export,
wholesale of industrial chemicals
Tokyo, Osaka,
Nagoya
Saitama, Osaka,
Kyoto (--warehouses)
KEN’ICHIRO HIKA,
PRES Masatsugu Hika, ch
Noboru Katayama,
s/mgn dir Masahiko Tsukamoto, mgn dir
Yasuhiko Oyama,
dir Shin’ichiro Niibari,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 11,520 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 90 M
TREND STEADY WORTH Yen
875 M
STARTED 1947 EMPLOYES 56
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDI-NARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 167.1 MILLION, 30 DAYS
NORMAL TERMS.
The subject company was established originally in 1887 by a certain Hika
for selling dyestuffs & soaps, on his account. Incorporated in 1947, the firm has been
succeeded by his descendants. Ken’ichiro
took the pres office in Feb 2013. This
is a specialized trading firm of industrial chemicals, such as surfactant,
synthetic resins, dyestuffs, pigments, intermediates, food additives, paints,
ink, electronic chemicals, other (see OPERATION). Goods are widely imported from and exported
to Europe, S/E Asia, Oceania, USA, etc.
Focusing on environmental-related chemicals and food-related supplies. Clients include chemical mfrs, paper mills,
apparel mfrs, etc, nationwide.
The sales volume for
Dec/2013 fiscal term amounted to Yen 11,520 million, an almost similar amount
of Yen 11,431 million in the previous term.
The recurring profit was posted at Yen 109 million and the net profit at
Yen 52 million, respectively, compared with Yen 130 million recurring profit
and Yen 65 million net profit, respectively, a year ago.
For the term that ended Dec 2014 the recurring profit was projected at
Yen 120 million and the net profit at Yen 60 million, respectively, on a 5%
rise in turnover, to Yen 12,050 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit is estimated at Yen 167.1
million, on 30 days normal terms.
Date Registered: Sept 1947
Regd No.: 1300-01-018527 (Kyoto-Shimogyoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
720,000 shares
Issued:
180,000 shares
Sum: Yen 90 million
Major shareholders (%): Masatsugu Hika
(16), Noboru Katayama (5), Masahiko
Tsukamoto (5), Takahide Oyama (4), Tohru
Araki (4)
No. of shareholders: 101
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading firm
for import, export and wholesale of industrial chemicals, food additives, others (100%).
(Products
handled):
Environmental-related: ozonolysis
agents, waste ozone disposal facilities;
Surfactants
for industries, such as: detergent, pulp/paper, textile processing, leather
processing, pharmaceuticals & cosmetics, agriculture, food processing,
pigments, paints & inks, adhesives, metals, rubber/plastics, information,
other;
Fine
chemicals: ink-jet chemicals, photo-copying chemicals, plasticizer, anti-oxidants,
ultraviolet absorbent, antistatic agents, stabilizers, adhesives, corrosive
proof agents, antiseptics, fungicides, antibacterial agents, flame retarders,
enzymes, organic dyes, other;
Synthetic
resins for application to: molding, impregnation, coating, packing, adhesives,
civil engineering works, paintings, textile processing, silicon resins, films,
others;
Textile
processing chemicals: fabric softeners, polishing/cleaning agents,
coloring agents, antistatic agents, soft finishing agents, flame retarding
agents, anti corrosives, coatings, packing agents, others;
Pharmaceuticals/cosmetics:
raw
materials & intermediates, surfactants, glycerin, PG, PEG, fragrant
materials, micro filters, others:
Inorganic
chemicals: caustic soda, soda ashes, bicarbonate soda, phosphate, silicate, nitrate
salt, hydrogen peroxide, sodium percarbonate, sulfuric acids, calcium
hydroxide, other;
Dyestuffs/pigments/intermediates:
fluorescent
bleaching agents (for use in textiles, detergents, paper processing, plastics,
etc), dyestuffs (for textile, paper, leather & plastics), pigments,
intermediates, others;
Oil
& fats/waxes/solvents: vegetable oils, animal oils, mineral oils,
alcohols, glycerin, solid paraffin, waxes, poly-ethylene waxes, solvents,
others;
Food
additives: glucose, fluctose, sorbit, CMC, PG, fragrance, surfactants, organic
acids, phosphate, other;
Others: Oxidants,
reducing agents, detergents, dry-cleaning chemicals, semi-conductor-related
chemicals, other.
Countries
for imports/exports: China, Taiwan, Hong Kong, Korea, Malaysia,
Singapore, BangladesPhilippines, India, Vietnam, UK, Germany, Italy, Switz,
France, Austria, Netherlands, Norway, Spain Poland, Czech, Turkey, Australia,
New Zealand, USA, other.
Clients: [Mfrs,
wholesalers] Konica Minolta Holdings, Yokohama Oil & Fats Ind, Panahome Corp, Nippon Paper Ind, Tokyo Printing
Ink Mfg, ST Chemical, Palace Chemical,
Chirika Co, Daiichi Kogyo Seiyaku, Konica-Minolta Holdings, Eagle Star, CSC, Rakuna Co, Palace Chemical,
Niitaka Co, Daimatsu Sangyou, other.
Goods are also exported.
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Itochu Corp, BASF Japan, Clariant Japan, Konica Minolta Holdings, Miyoshi Oil &
Fat, Daiichi Kogyo Seiyaku, Chirika Co, Sanyo Chemical
Ind, Itochu Chemical Frontier, Sanyo Chemical Ind, Matsumoto
Yushi-Seiyaku, other.
Goods are also imported.
Payment record slow but correct
Location: Business area in
Kyoto. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Bank of Kyoto (Ohmiya)
MUFG (Kyoto-Chuo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
|
Annual
Sales |
|
12,050 |
11,520 |
11,431 |
12,141 |
|
Recur.
Profit |
|
120 |
109 |
130 |
|
|
Net
Profit |
|
60 |
52 |
65 |
65 |
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Total
Assets |
|
|
4,816 |
4,566 |
4,950 |
|
Current
Assets |
|
|
3,904 |
3,736 |
|
|
Current
Liabs |
|
|
3,479 |
3,202 |
|
|
Net
Worth |
|
|
875 |
837 |
780 |
|
Capital,
Paid-Up |
|
|
90 |
90 |
90 |
|
Div.Ttl
in Million (¥) |
|
|
13.5 |
9 |
9 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.60 |
0.78 |
-5.85 |
-0.79 |
|
Current Ratio |
|
.. |
112.22 |
116.68 |
.. |
|
N.Worth Ratio |
|
.. |
18.17 |
18.33 |
15.76 |
|
R.Profit/Sales |
|
1.00 |
0.95 |
1.14 |
.. |
|
N.Profit/Sales |
|
0.50 |
0.45 |
0.57 |
0.54 |
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Return On Equity |
|
.. |
5.94 |
7.77 |
8.33 |
Notes: Forecast
(or estimated) figures for 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIS |
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 |
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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.