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Report No. : |
330584 |
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Report Date : |
06.07.2015 |
IDENTIFICATION DETAILS
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Name : |
CBC CO LTD |
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Registered Office : |
CBC Bldg, 2-15-13 Tsukishima Chuoku Tokyo 104-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
Nov., 1935 |
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Com. Reg. No.: |
0100-01-050333 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Chemical Products, IT-Related Products, Security Related Products |
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No. of Employees : |
435 |
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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Maximum Credit Limit : |
YEN 3,270.3 MILLION |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 an 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. Scarce in many natural resources, Japan has long been dependent on imported raw materials. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times since 2008. 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 of that year disrupted manufacturing. The economy has largely recovered in the four years since the disaster, although reconstruction in the affected Tohoku region has lagged, in part due to a shortage of labor in the construction sector. Japan enjoyed a sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s “Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of monetary easing, “flexible” fiscal policy, and structural reform. Abe’s government has replaced the preceding administration’s plan to phase out nuclear power with a new policy of seeking to restart nuclear power plants that meet strict new safety standards, and emphasizing nuclear energy’s importance as a base-load electricity source. Japan joined the Trans-Pacific Partnership (TPP) 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 2014 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. While seeking to stimulate and reform the economy, the government must also devise a strategy for reining in Japan's huge government debt, which amounts to more than 230% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8% implemented in April 2014. That increase had a contractionary effect on GDP, however, so PM Abe in late 2014 decided to postpone the final phase of the increase until April 2017 to give the economy more time to recover. Led by the Bank of Japan’s aggressive monetary easing, Japan is making progress in ending deflation, but demographics - low birthrate and an aging, shrinking population - pose major long-term challenges for the economy.
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Source
: CIA |
CBC CO LTD
REGD NAME: CBC KK
MAIN OFFICE: CBC Bldg, 2-15-13
Tsukishima Chuoku Tokyo 104-0052 JAPAN
Tel: 03-3536-4500 Fax: 03-3536-4774
URL: http://www.cbc.co.jp
E-Mail address: info@cbc.co.jp
Import, export, wholesale of chemical products, IT-related products,
security-related products
Osaka, Nagoya,
Fukuoka, Mishima
New York, Los Angeles, London, Milan, Paris, Düsseldorf, Warsaw, Taipei,
Bangkok, Singapore, Jakarta, Chittagong, Mumbai, China (4), other (Tot 31)
Osaka, Mishima; Novata (Italy), Chittagong (Bangladesh), Bangkok
(Thailand), Beijing, Chungshu, Dongguan (--China), Vietnam (--subcontracted)
UTARO DOI, PRES Shoichi Takabatake, s/mgn dir
Hiroaki Ichii, mgn
dir Masataro Doi, mgn dir
Katsunori Kida,
dir Toshikazu Matsuda,
dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 135,692 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 5,100 M
TREND UP WORTH Yen 31,727 M
STARTED 1935 EMPLOYES 435
TRADING HOUSE
SPECIALIZING IN INDUSTRIAL
CHEMICALS & IT-RELATED PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR TO GOOD
AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 3,270.3 MILLION, 30 DAYS NORMAL
TERMS.
The subject company was established originally in 1925 by Utaro Doi, and has been succeeded by the present executives. This is a trading firm specializing in industrial chemicals, synthetic resins, medical products, agricultural chemicals, etc. Of recent development include security apparatus, such as monitoring camera lenses, devices, etc, both rising in demand at home and abroad. Goods are originally designed and manufactured on consignment by overseas factories. Also handles liquid crystal display panels and peripherals. In Jun 2006, acquired all stocks of PROCOS, pharmaceutical fine chemicals mfr, Italy, to make it a wholly owned subsidiary. In Oct 2010, invested in Millinet Solar Co Ltd, a solar cell maker in Korea. Operates a global network of 31 bases in 15 countries including USA and countries in Western & Eastern Europe and Asia including Middle East. Clients are major chemical mfrs, paint makers, pharmaceuticals, other in the related fields.
The sales volume
for Mar/2014 fiscal term amounted to Yen 135,692 million, a 4% up from Yen
129,999 million in the previous term.
Overseas production increased.
Exports were robust. The recurring profit was posted at Yen 2,925
million and the net profit at Yen 1,771 million, respectively, compared with
Yen 2,804 million recurring profit and Yen 1,648 million net profit,
respectively, a year ago.
For the term that
ended Mar 2015 the recurring profit was projected at Yen 3,000 million and the
net profit at Yen 1,900 million, respectively, on a 5% rise in turnover, to Yen
142,000 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 3,270.3 million, on 30 days normal terms.
Date Registered: Nov 1935
Regd No.:
0100-01-050333 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 68 million shared
Issued: 17 million shares
Sum: Yen 5,100 million
Major
shareholders (%): Utaro Doi (24.6),
Employees’ S/Holding Assn (23.4), U-D KK (16.6), Shotaro Doi (14.7)
No. of shareholders: 24
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading house
specializing in security-related products (monitoring camera lenses, apparatus,
etc), liquid crystal display panels & peripherals, solar batteries,
electronic components & devices (--59%), other industrial chemicals,
synthetic resins, medical products, agricultural chemicals, foodstuffs,
textiles & clothing, others (--41%).
(Export 20%)
Clients: [Mfrs,
wholesalers] Circle K Sunkus, Toppan Printing, Sony Corp, Yakult Honsha, Nitto
Denko Corp, Nippon Paint, Takeda Chemical, Okura Ind, Toray Ind, Meiwa Pax Co,
other
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Asahi Denka Kogyo, Shin-Etsu Chemical, Okura Ind, Mitsubishi
Rayon, Sumitomo Chemical, DIC, ADEKA, Kyowa Hakko Chemical, Samsung, LG
(--Korea), PS Japan, Du Pont-Mitsui Fluorochemicals Co, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
MUFG (Tokyo)
Mizuho Bank (Kyobashi)
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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142,000 |
135,692 |
129,999 |
131,294 |
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Recur. Profit |
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3,000 |
2,925 |
2,804 |
2,665 |
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Net Profit |
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1,900 |
1,771 |
1,648 |
695 |
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Total Assets |
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106,437 |
103,819 |
98,450 |
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Current Assets |
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|
58,412 |
60,328 |
60,388 |
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Current Liabs |
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48,291 |
52,018 |
56,696 |
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Net Worth |
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31,727 |
29,598 |
25,760 |
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Capital, Paid-Up |
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5,100 |
5,100 |
5,100 |
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Div.P.Share(¥) |
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|
11.00 |
11.00 |
11.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.65 |
4.38 |
-0.99 |
-6.24 |
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Current Ratio |
.. |
120.96 |
115.98 |
106.51 |
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N.Worth Ratio |
.. |
29.81 |
28.51 |
26.17 |
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R.Profit/Sales |
2.11 |
2.16 |
2.16 |
2.03 |
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N.Profit/Sales |
1.34 |
1.31 |
1.27 |
0.53 |
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Return On Equity |
.. |
5.58 |
5.57 |
2.70 |
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Notes: Forecast (or estimated) figures for the
31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
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|
1 |
Rs.98.94 |
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Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ASH |
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.