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Report No. : |
329103 |
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Report Date : |
24.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SOJITZ BUILDING MATERIALS CORPORATION |
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Registered Office : |
Tokyo Sankei Bldg 21F, 1-7-2 Ohtemachi Chiyodaku Tokyo 100-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
April 1982 |
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Com. Reg. No.: |
0100-01-053740 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Trading firm for import, export and wholesale of: plywood (37%),
wooden products (22%), building materials (wooden) (9%), plastic board (7),
construction works (4%), household appliances (3%), others (18%) |
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No. of Employee : |
350 |
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 : |
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 – 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 |
SOJITZ BUILDING
MATERIALS CORPORATION
REGD NAME: Sojitz Kenzai KK
MAIN OFFICE: Tokyo Sankei Bldg
21F, 1-7-2 Ohtemachi Chiyodaku Tokyo 100-0004 JAPAN
Tel:
03-6870-7800 Fax: 03-6870-7801
*... The is its Osaka Branch Office
E-Mail address: (thru the URL)
Import, export, wholesale of construction materials
Osaka, Nagoya, Sapporo, Sendai, Fukuoka, other (Tot 9)
TETSUYA ONISHI, PRES Teruyasu
Yoneda, v pres
Satoru Yasuda, mgn dir Tadahiro
Kinoshita, dir
Koji Kiriyama, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 165,957 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 1,039 M
TREND SLOW WORTH Yen 7,080 M
STARTED 1982 EMPLOYES 350
TRADING FIRM SPECIALIZING IN BUILDING MATERIALS, OWNED BY SOJITZ CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
This is a trading firm for import, export and wholesale of building
materials: plywood, fireboard, lumber, other (See OPERATION). The firm is owned by Sojitz Corp (See
REGISTRATION). One of top-ranked in
dealing of plywood & plaster board.
Clients include major building firms, construction firms, other.
The sales volume for Mar/2015 fiscal term amounted to Yen 165,957
million, a 7% down from Yen 178,919 million in the previous term. The recurring profit was posted at Yen 694
million and the net profit at Yen 491 million, respectively, compared with Yen
1,958 million recurring profit and Yen 1,079 million net profit, respectively,
a year ago.
For the current term ending Mar 2016 the recurring profit is projected
at Yen 730 million and the net profit at Yen 500 million, respectively, on a 5%
rise/fall in turnover, to Yen 174,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr 1982
Regd No.: 0100-01-053740 (Tokyo-Chiyodaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 19.44
million shares
Issued: 4.86
million shares
Sum: Yen
1,039 million
Major shareholders
(%): Sojitz Corp* (100)
*.. Trading house, Tokyo, founded 2003, listed Tokyo S/E, capital Yen
160,339, sales Yen 4,105,295 million, operating profit Yen 33,550 million,
recurring profit Yen 52,584 million, net profit Yen 37,650 million, total
assets Yen 2,297,358 million, net worth Yen 590,658 m million, employees 16,132, pres Yoji Sato
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Trading firm for
import, export and wholesale of: plywood (37%), wooden products (22%), building
materials (wooden) (9%), plastic board (7), construction works (4%), household
appliances (3%), others (18%)
Clients: [Mfrs,
wholesalers] Japan Kenzai Co, Nice Corp, Kanae Co, Jutec Corp, Tama Home, Fuji
Chemical Ind, other
No. of accounts: 350
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Wood One Co, Yoshino Gypsum Co, Hayashi Plywood Ind, Eidai Co, Dow
Kako, other
Payment record: slow but correct
Location: Business area in
Tokyo. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Tokyo)
Norin Chukin Bank (H/O)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
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Annual Sales |
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174,000 |
165,957 |
178,919 |
158,470 |
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Recur. Profit |
|
730 |
694 |
1,958 |
1,346 |
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Net Profit |
|
500 |
491 |
1,079 |
820 |
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Total Assets |
|
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55,668 |
58,813 |
62,417 |
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Current Assets |
|
|
54,268 |
57,147 |
61,535 |
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Current Liabs |
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46,329 |
48,652 |
50,533 |
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Net Worth |
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7,080 |
7,885 |
7,626 |
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Capital, Paid-Up |
|
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1,039 |
1,039 |
1,039 |
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Div.P.Share(¥) |
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|
184.00 |
184.00 |
0.00 |
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<Analytical
Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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4.85 |
-7.24 |
12.90 |
-1.29 |
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Current Ratio |
|
.. |
117.14 |
117.46 |
121.77 |
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N.Worth Ratio |
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.. |
12.72 |
13.41 |
12.22 |
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R.Profit/Sales |
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0.42 |
0.42 |
1.09 |
0.85 |
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N.Profit/Sales |
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0.29 |
0.30 |
0.60 |
0.52 |
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Return On Equity |
|
.. |
6.94 |
13.68 |
10.75 |
Notes: Forecast (or estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.64 |
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|
1 |
Rs.100.41 |
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Euro |
1 |
Rs.71.63 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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.