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Report No. : |
332200 |
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Report Date : |
16.07.2015 |
IDENTIFICATION DETAILS
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Name : |
CBC CO LTD |
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Registered Office : |
BC Bldg, 2-15-13 Tsukishima Chuoku Tokyo 104-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2016 |
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Date of Incorporation : |
November 1935 |
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Com. Reg. No.: |
0100-01-050333 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of chemical products, IT-related products, security-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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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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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.
|
Source
: CIA |
CBC CO LTD
CBC KK
CBC Bldg, 2-15-13
Tsukishima Chuoku Tokyo 104-0052 JAPAN
Tel:
03-3536-4500 Fax: 03-3536-4774
*.. The
given address is its Osaka Branch Office
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 Shotaro Doi, mgn dir
Katsunori
Kida, dir Toshikazu
Masuda, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 139,930 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
5,100 M
TREND UP WORTH Yen 36,474 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.
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.
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/2015 fiscal term amounted to Yen
139,930 million, a 3% up from Yen 135,692 million in the previous term. Overseas production increased. Exports were robust. The recurring profit was posted at Yen 3,887
million and the net profit at Yen 1,200 million, respectively, compared with
Yen 2,925 million recurring profit and Yen 1,771 million net profit,
respectively, a year ago.
For the current term ending Mar 2016 the recurring profit is
projected at Yen 3,900 million and the net profit at Yen 1,300 million,
respectively, on a 3% rise in turnover, to Yen 144,100 million.
The financial situation is considered FAIR and good for
ordinary BUSINESS engagements.
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 (%): Employees’ S/Holding Assn
(23.4), Utaro Doi (22.1), U-D KK (14.8)
No. of shareholders: 25
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 (--60.7%), other industrial chemicals, synthetic resins,
medical products, agricultural chemicals, foodstuffs, textiles & clothing,
others (--39.3%).
(Export 25%)
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)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
|
Annual
Sales |
|
144,100 |
139,930 |
135,692 |
129,999 |
|
Recur.
Profit |
|
3,900 |
3,887 |
2,925 |
2,804 |
|
Net
Profit |
|
1,300 |
1,200 |
1,771 |
1,648 |
|
Total
Assets |
|
|
116,416 |
106,437 |
103,819 |
|
Current
Assets |
|
|
61,930 |
58,412 |
60,328 |
|
Current
Liabs |
|
|
49,270 |
48,291 |
52,018 |
|
Net
Worth |
|
|
36,474 |
31,727 |
29,598 |
|
Capital,
Paid-Up |
|
|
5,100 |
5,100 |
5,100 |
|
Div.P.Share(¥) |
|
|
11.00 |
11.00 |
11.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.98 |
3.12 |
4.38 |
-0.99 |
|
Current Ratio |
|
.. |
125.70 |
120.96 |
115.98 |
|
N.Worth Ratio |
|
.. |
31.33 |
29.81 |
28.51 |
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R.Profit/Sales |
|
2.71 |
2.78 |
2.16 |
2.16 |
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N.Profit/Sales |
|
0.90 |
0.86 |
1.31 |
1.27 |
|
Return On Equity |
|
.. |
3.29 |
5.58 |
5.57 |
Notes:
Forecast (or estimated) figures for the 31/03/2016 Fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
|
|
1 |
Rs.99.13 |
|
Euro |
1 |
Rs.69.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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Report Prepared
by : |
ASH |
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.