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Report No. : |
321744 |
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Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ASAHI KASEI ADVANCE CORPORATION |
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Registered Office : |
Sumitomo Fudosan Onarimon-Ekimae Bldg 8F, 6-17-21 Shimbashi Minatoku Tokyo 105-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 1985 (originally) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Trading company for import, export and wholesale of: chemicals,
resins, foods, apparel, building materials |
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No. of Employee : |
95 |
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 321.2 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 – 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 |
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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 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.
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Source
: CIA |
ASAHI KASEI
ADVANCE CORPORATION (Renamed in Apr/2015)
REGD NAME: Asahi Kasei Advance KK
MAIN OFFICE: Sumitomo Fudosan Onarimon-Ekimae Bldg 8F,
6-17-21 Shimbashi Minatoku
Tokyo
105-0004 JAPAN
Tel:
03-5404-5030 Fax: 03-5404-5031
*..
Headquarters moved to the caption address
URL: http://www.asahi-kasei.co.jp
E-Mail address: (thru the URL)
Import, export, wholesale of chemicals, resins, foods, building
materials
10 locations
YASUSHI ASANO, PRES Katsunosuke
Sonoda, s/mgn dir
Manabu Haneda, s/mgn dir Koji Kawabata, mgn
dir
Shuichi Sakamoto, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 29,251 M*
PAYMENTS NO COMPLAINTS CAPITAL Yen 500 M
TREND UP WORTH Yen 1,357 M*
STARTED 2015 EMPLOYES 95
*.. Figures of Asahi Kasei Trading Co Ltd
TRADING FIRM, OWNED BY ASAHI KASEI CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 321.2 MILLION, ON 30 DAYS NORMAL
TERMS.
The subject company is a trading company, originally Asahi Kasei Trading
Co Ltd, and in Apr 2015 merged two sister companies, Asahi Kasei Fibers Corp
and Asahi Kasei Commerce Corp, and renamed as captioned. The subject imports, exports and wholesales
chemicals, building materials, foods, apparel, other.
The sales volume for Mar/2014 fiscal term amounted to Yen 29,251
million, a 10% up from
Yen 26,585 million in the previous term.
The recurring profit was posted at Yen 242 million and the net profit at
Yen 114 million, respectively, compared with Yen 207 million recurring profit
and Yen 98 million net profit, respectively, a year ago.
For the term that ended Mar 2015 the recurring profit was projected at
Yen 250 million and the net profit at Yen 120 million, respectively, on a 5%
rise in turnover, to Yen 30,700 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 321.2 million, on 30
days normal terms.
Date Registered: Apr 1985 (originally)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 4 million shares
Issued: 1
million shares
Sum: Yen
500 million
Major shareholders
(%): Asahi Kasei Corp* (100)
*.. Diversified business of clothing, membranes, housing, construction,
electronic materials and
pharmaceuticals, Tokyo, founded 1931, listed Tokyo S/E, capital Yen 103,389
million, sales Yen 1,897,766 million, net profit Yen 101,296 million, total
assets Yen 2,077,234 million, net worth Yen 1,042,185 million, employees
30,120, pres Toshio Asano
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Trading company
for import, export and wholesale of: chemicals, resins, foods, apparel,
building materials, others (--100%)
Clients: [Mfrs,
wholesalers] Asahi Kasei Group firms, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Asahi Kasei Group firms, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Mizuho Bank (Uchisaiwaicho)
SMBC (Hamamatsucho)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual Sales |
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30,700 |
29,251 |
26,585 |
25,482 |
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Recur. Profit |
|
250 |
242 |
207 |
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Net Profit |
|
120 |
114 |
98 |
32 |
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Total Assets |
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10,211 |
9,715 |
9,829 |
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Current Assets |
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|
9,669 |
9,245 |
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Current Liabs |
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|
7,697 |
7,371 |
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Net Worth |
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|
1,357 |
1,254 |
1,145 |
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Capital, Paid-Up |
|
|
500 |
500 |
500 |
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Div.Ttl in Million (¥) |
|
|
20 |
0.00 |
0.00 |
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<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.95 |
10.03 |
4.33 |
-1.80 |
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Current Ratio |
|
.. |
125.62 |
125.42 |
.. |
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N.Worth Ratio |
|
.. |
13.29 |
12.91 |
11.65 |
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R.Profit/Sales |
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0.81 |
0.83 |
0.78 |
.. |
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N.Profit/Sales |
|
0.39 |
0.39 |
0.37 |
0.13 |
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Return On Equity |
|
.. |
8.40 |
7.81 |
2.79 |
Notes: Financials of the old Asahi Kasei Trading Co Ltd, before the said
group merger.
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.64.05 |
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|
1 |
Rs.99.04 |
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Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
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.