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Report No. : |
333687 |
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Report Date : |
24.07.2015 |
IDENTIFICATION DETAILS
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Name : |
MEISEI & CO LTD |
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Registered Office : |
Tokyo Tatemono Daisan Muromachi Bldg 4F,
4-8-14 Nihombashi-Honcho Chuoku Tokyo 103-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2016 |
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Date of Incorporation : |
October 1947 |
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Com. Reg. No.: |
0100-01-124279 (Osaka-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is import, export and wholesale of industrial chemicals, electronics materials |
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No. of Employee : |
130 |
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) |
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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 |
MEISEI & CO LTD
Meisei Shokai KK
Tokyo Tatemono Daisan
Muromachi Bldg 4F, 4-8-14 Nihombashi-Honcho, Chuoku Tokyo 103-0023 JAPAN
Tel:
03-5299-6211 Fax: 03-3245-2554
*.. The given address is its Osaka Office
(Registered address until 2009)
http://www.meisei-shokai.co.jp/
E-Mail address: info@meisei-shokai.co.jp
Import, export and
wholesale of industrial chemicals, electronics materials
Osaka, Akita,
Nagoya, Toyama, Fukuyama, Fukuoka, Fuji, other (Tot 17)
China (4), Singapore,
USA, Malaysia, India, Taiwan, Singapore, Hong Kong
(subcontracted)
MASANORI TAKAYAMA,
PRES Nobunari Kunimine, dir
Hidekazu Daito,
dir Tsutomu Imanishi,
dir
Tetsuya Kato, dir Kazunari Hakamada, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 35,309 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 262 M
TREND STEADY WORTH Yen 2,106 M
STARTED 1947 EMPLOYES 130
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS, UNDER HOLDING COMPANY
OF TCS HOLDING CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by father of Masanori Takayama in
order to make most of his experience in the subject line of business. Masanori took the pres office in Mar
2005. This is a trading firm for import,
export and wholesale of industrial chemicals as a mainstay, electronics products,
pulp & paper, solar power systems (recent development), other. Goods are imported from China, India,
Malaysia, Philippines, Hong Kong, USA, other.
Most of the products are subcontracted mfg overseas. Clients include major electronics mfrs,
chemical mfrs, other, nationwide.
The sales volume for Mar/2015 fiscal term amounted to Yen 35,309
million, a 7% up from Yen 32,969 million in the previous term. The newly developed solar power system
contributed. The recurring profit was
posted at Yen 312 million, while incurred the net losses at Yen 361 million,
respectively, compared with Yen 326 million recurring profit and Yen 188
million net profit, respectively, a year ago.
For the current term ending Mar 2016 the recurring profit is projected
at Yen 330 million and the net profit at Yen 200 million, respectively, on a 5%
rise in turnover, to Yen 37,000 million.
Business is seen expanding steadily.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: Oct 1947
Regd No.:
0100-01-124279 (Osaka-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 40 million shares
Issued: 10,240,000 shares
Sum: Yen 262 million
Major
shareholders (%): TCS Holdings Co Ltd*(97.7), Meisei Chemical Works (0.8),
Yoshiyuki Takayama (0.8), Masahiro Takayama
(0.7)
No. of shareholders: 4
* Group Holding Company of the subject,
Tokyo Computer Service, other, and owner/manager of the caption Bldg, at the caption
address, founded 1971, capital Yen 225 million, pres Masanori Takayama,
concurrently.
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales industrial chemicals, synthetic resins, fine chemicals,
functional chemicals, electronic materials (FPC products, printed circuits,
etc), dyestuffs, auxiliary agents, solar power systems, others (--100%).
Goods are imported from China, India,
Malaysia, Thailand, Philippines, Hong Kong, USA, etc.
Clients: [Mfrs,
wholesalers] Panasonic Corp, Panasonic Appliances America, Device Yokkaichi,
Ouchi Shinko Chemical Ind, Murata Mfg Co, Sanwa Electric Circuits Co, TDK,
Clariant Japan, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers].Panasonic Corp, NOF Corp, Lintec Corp, Meisei Chemical Ind,
Sumitomo Chemical Ind, Trina Solar Japan, other
Imports from China, India, Philippines,
Malaysia, Hong Kong, USA, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Kanda)
Mizuho Bank (Kudan)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
|
Annual
Sales |
|
37,000 |
35,309 |
32,969 |
28,739 |
|
Recur.
Profit |
|
330 |
312 |
326 |
|
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Net
Profit |
|
200 |
-361 |
188 |
60 |
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Total
Assets |
|
|
14,858 |
14,175 |
12,749 |
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Current
Assets |
|
|
12,937 |
12,024 |
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Current
Liabs |
|
|
11,036 |
11,318 |
|
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Net
Worth |
|
|
2,106 |
2,501 |
2,214 |
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Capital,
Paid-Up |
|
|
262 |
262 |
262 |
|
Div.Ttl
in Million (¥) |
|
|
71.68 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.79 |
7.10 |
14.72 |
-5.94 |
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Current Ratio |
|
.. |
117.23 |
106.24 |
.. |
|
N.Worth Ratio |
|
.. |
14.17 |
17.64 |
17.37 |
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R.Profit/Sales |
|
0.89 |
0.88 |
0.99 |
.. |
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N.Profit/Sales |
|
0.54 |
-1.02 |
0.57 |
0.21 |
|
Return On Equity |
|
.. |
-17.14 |
7.52 |
2.71 |
Notes: Forecast
(or estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.71 |
|
|
1 |
Rs.99.57 |
|
Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
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Analysis Done by
: |
TRS |
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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 |
-- |
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.