|
Report No. : |
323627 |
|
Report Date : |
20.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUMITOMO SHOJI CHEMICALS CO LTD |
|
|
|
|
Registered Office : |
Harumi Island Triton Square Office Tower Z 23/24 F’s, 1-8-12 Harumi Chuoku
Tokyo 104-0053 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
February 1998 |
|
|
|
|
Com. Reg. No.: |
0100-01-020579 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in Import, export and
wholesale of plastics & industrial chemicals |
|
|
|
|
No. of Employee : |
240 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
SUMITOMO SHOJI CHEMICALS CO LTD
REGD NAME: Sumitomo
Shoji Chemical KK
MAIN OFFICE: Harumi Island Triton Square Office
Tower Z 23/24 F’s, 1-8-12 Harumi Chuoku Tokyo 104-0053 JAPAN
Tel: 03-5166-9300 Fax: 03-5166-9303
URL: http://www.sc-chem.co.jp/
E-Mail
address: info@sc-chem.co.jp
Import,
export, wholesale of plastics, industrial chemicals
Osaka,
Nagoya
YOSHITO
HORIUCHI, PRES
Yukinobu
Yokoo, dir
Tatsuya
Katsurada, dir
Yen
Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 148,890 M
PAYMENTS REGULAR CAPITAL Yen 900 M
TREND UP WORTH Yen 8,092 M
STARTED 1998 EMPLOYES 240
TRADING FIRM SPECIALIZING IN INDUSTRIAL
CHEMICALS, WHOLLY OWNED BY SUMITOMO CORP.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established on the basis of Chemical
Business Unit Plastic Division separated from Sumitomo Corp (see REGISTRATION), named Sumitomo Shoji
Plastics Co Ltd, dealing mainly in construction materials, industrial &
wrapping materials. In Jul 2004 acquired
Organic Chemicals Division from a sister company, Sumitomo Shoji Chemicals Co
Ltd, handling functional chemical products.
In Oct 2005, merged with Sumitomo Shoji Chemicals Co Ltd and Sumitomo
Chemicals & Plastics Nagoya Co Ltd, with Sumitomo Shoji Plastics Co Ltd as
a surviving entity and then renamed as captioned. This is a specialized trader for import,
export and wholesale of plastics and chemicals (see OPERATION). The merger was
conducted in order to integrate and streamline chemicals & plastics
operations of the Sumitomo Group.
The sales volume for Mar/2014 fiscal term amounted to Yen
148,890 million, a 9% up from Yen 136,546 million in the previous term. The recurring profit was posted at Yen 2,747
million and the net profit at Yen 1,705 million, respectively, compared with
Yen 1,882 million recurring profit and Yen 1,125 million net profit,
respectively, a year ago.
For the term that ended Mar 2015 the recurring profit was
projected at Yen 2,850 million and the net profit at Yen 1,800 million,
respectively, on a 5% rise in turnover, to Yen 156,300 million. Final results are yet to be released.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date
Registered: Feb 1998
Regd
No.: 0100-01-020579 (Tokyo-Chuoku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 36,000 shares
Issued:
9,000 shares
Sum:
Yen
900 million
Major
shareholders (%): Sumitomo Corp*(100)
*.. One of leading general trading houses, nucleus of
Sumitomo group, founded 1919, listed Tokyo, Nagoya, Fukuoka S/E’s, capital Yen
219,279 million, turnover Yen 8,596,699 million, operating loss Yen 84,374
million, recurring loss Yen 18,561 million, net loss Yen 70,817 million, total
assets Yen 9,021,370 million, net worth Yen 2,617,250 million, employees
76,324, pres Kuniharu Nakamura
Nothing detrimental is known as to
the commercial morality of executives.
Activities:
Import, export, wholesale of plastics & industrial chemicals:
(Sales Breakdown by Divisions):
Plastic Division (38%): resin
materials & subsidiary materials, plastic film/sheet molding, FRP products,
packaging materials, agricultural materials, plastic processing machinery,
metal molds, other;
Organic Chemicals Division (23%): aromatics
& organic solvents, industrial organic chemicals, resin/rubber materials
& fibers, coat chemical products, organic halides, resin additives,
catalytic agents;
Functional Chemicals Division (39%): fine
chemicals, polyurethane raw materials, epoxy resin, food chemicals, health
foods, base materials for cosmetics, dye, textile chemicals, cosmetic &
toiletry materials, fine chemical products, inorganic chemicals, resource
products, other;
Import/Export (39%)
Clients:
[Mfrs, wholesalers] Sumitomo Corp, Sumitomo Corp (Hong Kong), Lilycolor Co, Sumitomo Electric Ind, Sumitomo
Chemical, Interflex, Dainippon Ink & Chemicals,
Samsung
Japan, Mitsubishi Electric, Taoka Chemical, Tenma Corp, other.
No. of accounts: 1,000
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Sumitomo Corp, Sumitomo Chemical, Daikin Ind, Arisawa Mfg,
Sumitomo Bakelite, Takeda Chemical Ind, Toyobo Co, Asahi Kasei Chemicals,
Sumika Bayer Urethane, Sumitomo Mitsubishi Silicon Corp, Asahi Glass, Sumitomo
Metal Ind, Sumitomo Metal Mining, Sumitomo Seika Chemicals, Toyo Styrene, Japan
Polypropylene Corp, other.
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned by the parent, Sumitomo Corp, and maintained
satisfactorily.
Bank
References:
SMBC (Tokyo, Osaka &
Nagoya)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
156,300 |
148,890 |
136,546 |
147,945 |
|
Recur.
Profit |
|
2,850 |
2,747 |
1,882 |
2,387 |
|
Net
Profit |
|
1,800 |
1,705 |
1,125 |
1,467 |
|
Total
Assets |
|
|
45,819 |
44,931 |
47,445 |
|
Current
Assets |
|
|
41,434 |
40,649 |
43,196 |
|
Current
Liabs |
|
|
35,503 |
35,160 |
38,010 |
|
Net
Worth |
|
|
8,092 |
7,656 |
7,655 |
|
Capital,
Paid-Up |
|
|
900 |
900 |
900 |
|
Div.P.Share(¥) |
|
|
70,800.00 |
62,600.00 |
54,500.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.98 |
9.04 |
-7.70 |
-7.35 |
|
Current Ratio |
|
.. |
116.71 |
115.61 |
113.64 |
|
N.Worth Ratio |
|
.. |
17.66 |
17.04 |
16.13 |
|
R.Profit/Sales |
|
1.82 |
1.84 |
1.38 |
1.61 |
|
N.Profit/Sales |
|
1.15 |
1.15 |
0.82 |
0.99 |
|
Return On Equity |
|
.. |
21.07 |
14.69 |
19.16 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.87 |
|
|
1 |
Rs.98.89 |
|
Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.