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Report No. : |
326847 |
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Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
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Name : |
CHUKAN BUTSU LTD |
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Registered Office : |
Shiono Nissei Bldg 7F, 2-6-6 Doshomachi Chuoku Osaka 541-0045 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
Feb., 1990 |
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Com. Reg. No.: |
1200-01-084395 (Osaka-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export and Wholesale of Industrial Chemicals. |
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No. of Employees : |
27 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused
the economy to contract during the 2nd and 3rd quarters of 2014. The economy
has largely recovered in the three years since the disaster, but reconstruction
in the Tohoku region has been uneven due to labor shortages. 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 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. The government will continue a
longstanding debate on restructuring the economy and reining in Japan's huge
government debt, which amounts to more than 240% 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 2015, although the government
in 2014 decided to postpone the final phase of the increase until 2017 to give
the economy time to recover from the 2014 increase. 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 |
CHUKAN BUTSU LTD
REGD NAME: Chukan
Butsu Shoji KK
MAIN OFFICE: Shiono
Nissei Bldg 7F, 2-6-6 Doshomachi Chuoku Osaka 541-0045 JAPAN
Tel: 06-6231-5127 Fax: 06-6222-5126
E-Mail address: nishioka@chukan.co.jp
Import, export,
wholesale of industrial chemicals
Tokyo, Hyogo
(Distribution Center)
Nantong (China), Pune (India) (--rep
offices)
Taizhou Yutai Intermediate
Factory (JV with Taizhou Zhogjian Co Ltd, China)
SHINGO TSUKUDA,
PRES
Hiroki Kadota, dir
Takuya Nishioka,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,477 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 20 M
TREND STEADY WORTH Yen 404 M
STARTED 1990 EMPLOYES 27
TRADING FIRM
SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established in order to succeed business operations of the former E
Horibata & Co Ltd, founded 1929, for importing intermediates for colorants,
pharmaceuticals, pigments, dyestuffs, other intermediates from Germany. Reorganized in 1990, the firm was renamed as
captioned. This is a specialized trading
firm for import, export and wholesale of industrial chemicals: pharmaceuticals
intermediates, pigments, dyestuffs, other industrial chemicals. About 60% of the goods are imported from China and India. The firm offers
technical transfer, outsourcing
and OEM services, too. Founded Yashiro Distribution Center in 1994, authorized warehouse for
medical supplies, dangerous & poisonous cargoes. In 1995 formed Taizhou Yutai Intermediate
Factory, Taizhou, Jiangu (China), JV with Taizhou Zhogjian Co Ltd, China. In 1996 opened Nantong Branch Office, China. In 2006 opened representative office in Pune, India. Clients are major
specialized chemical mfrs nationwide.
The sales volume
for Dec/2014 fiscal term amounted to Yen 2,477 million, a 15% steep up from Yen
2,148 million in the previous term.
Exports and imports from and into China & India increased. The number of clients increased. The recurring profit was posted at Yen 62
million and the net profit at Yen 40 million, respectively, compared with Yen
78 million recurring profit and Yen 44 million net profit, respectively, a year
ago.
For the current
term ending Dec 2015 the recurring profit is projected at Yen 65 million and
the net profit at Yen 45 million, on a 5% rise in turnover, to Yen 2,600
million. Business is seen steadily
expanding.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Feb
1990
Regd No.:
1200-01-084395 (Osaka-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,600 shares
Issued: 800 shares
Sum: Yen 20 million
Major
shareholders (%): Chukan Butsu Butsuryu* (100)
* Subsidiary distribution
company
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales food additives, olive
oils, other fine chemicals (--55%), intermediate for pharmaceuticals &
agrochemicals, pigments, others (--20%), technical transfer, consulting, others
(--25%). (Breakdowns are all about)
Clients: [Chemical mfrs,
wholesalers] Clariant (Japan) KK, Nippon Kayaku, Mikuni Pharmaceutical Ind,
Nichijun Chemical, Sansui Shikiso Kogyo, Orient Chemical Ind, Kaneka Corp,
Mitsubishi Tanabe Pharma Corp, Wako Pure Chemical Ind, Ono Pharmaceutical,
T&K Tokyo, other.
No. of accounts:
1,000
Domestic areas of
activities: Nationwide
Suppliers:
[Chemical
mfrs] Clauson-Kaas (Denmark), Hovione (Portugal), Palident Ltd (Israel),
Organica Feinchemie GmbH (Germany), RRJ Dyes & Intermediates, Balaji Amines
Ltd (--India), Taizhou Yatai Intermediate Factory (China), Dalchem (Russia),
other from Czech, Russia, Hungary, etc.
Also supplied for exports from DIC, Sakai
Chemical Ind, Kanto Chemical, other.
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Osaka-Chuo)
Kinki Osaka Bank (Semba)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2015 |
31/12/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual
Sales |
|
2,600 |
2,477 |
2,148 |
2,193 |
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Recur.
Profit |
|
65 |
62 |
78 |
147 |
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Net
Profit |
|
45 |
40 |
44 |
55 |
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Total
Assets |
|
|
1,520 |
1,465 |
1,415 |
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Current
Assets |
|
|
1,167 |
1,092 |
1,036 |
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Current
Liabs |
|
|
673 |
264 |
683 |
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Net
Worth |
|
|
404 |
365 |
323 |
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Capital,
Paid-Up |
|
|
20 |
20 |
20 |
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Div.
Ttl in Million (¥) |
|
|
2 |
2 |
2 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.97 |
15.32 |
-2.05 |
3.25 |
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Current Ratio |
|
.. |
173.40 |
413.64 |
151.68 |
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N.Worth Ratio |
|
.. |
26.58 |
24.91 |
22.83 |
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R.Profit/Sales |
|
2.50 |
2.50 |
3.63 |
6.70 |
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N.Profit/Sales |
|
1.73 |
1.61 |
2.05 |
2.51 |
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Return On Equity |
|
.. |
9.90 |
12.05 |
17.03 |
Notes: Forecast (or estimated) figures for the
31/12/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.03 |
|
|
1 |
Rs.99.27 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.