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Report No. : |
337718 |
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Report Date : |
03.09.2015 |
IDENTIFICATION DETAILS
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Name : |
YOKOHAMA KASEI KK |
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Registered Office : |
5-31-16 Shiba Minatoku Tokyo |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
June 1947 |
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Com. Reg. No.: |
0104-01-030576 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Imports, exports and wholesales paints & coatings,
adhesives, sealing agents, adhesives, painting machinery & equipment,
others (--100%). |
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No. of Employees : |
50 |
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 first-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 |
REGD NAME: Yokohama Kasei KK
MAIN OFFICE: YCC Takanawa Bldg 8F, 2-21-43 Shiba
Minatoku Tokyo 108-8388 JAPAN
Tel:
03-3451-7771 Fax: 03-3451-7773
*..
Moved to the caption address in 2011 from the former as given
*..
Registered at: 5-31-16 Shiba Minatoku Tokyo
URL: http://www.yokohamakasei.com
E-Mail address:ycc@yokohamakasei.com
ACTIVITIES: Wholesale of paints & coatings; import,
export of industrial chemicals, machinery
BRANCHES: Osaka, Chiba, Shizuoka
OVERSEAS: Beijing, Shenzhen (China)
OFFICERS: YOICHI OZAWA, PRES Masatsugu Inoue, dir
Kazukiyo
Kasahara, dir Morito
Fujimoto, dir
Yohei
Kawada, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 4,378 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
30 M
TREND STEADY WORTH Yen
1,150 M
STARTED 1947 EMPLOYES 50
COMMENT: TRADING FIRM SPECIALIZING IN PAINTS,
COATINGS, INDUSTRIAL
CHEMICALS,
MACHINERY, OTHER.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
This is a trading firm originally started as a wholesaler
of paints and coatings and later diversified into a trading firm handling
industrial chemicals, as sole import agent for DSM Resins International BV,
Netherlands for chemical products, such as additives, alkyd emulsion, and
others. The subject firm wholesales
paints & coatings, solvents, sealing agents, industrial machinery,
chemicals, surfactant, other. Clients
include electric appliances mfrs, heavy machinery mfrs, others, nationwide.
The sales volume for Mar/2015 fiscal term amounted to Yen 4,378 million, a 3% down from Yen 4,508 million in the previous term. The recurring profit, was posted at Yen 144 million and the net profit at Yen 79 million, respectively, compared with Yen 166 million recurring profit and Yen 63 million net profit, respectively, a year ago.
For the current term ending Mar 2016 the recurring profit is projected
at Yen 150 million and the net profit at Yen 85 million, respectively, on a 3%
rise in turnover, to Yen 4,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jan
1947
Regd No.: 0104-01-030576
(Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2.4 million shares
Issued: 600,000
shares
Sum: Yen
30 million
Major shareholders
(%):
Employees’ S/Holding Assn (16), Hajime Ozawa (4), Yoshimasa Ozawa (4), Masatsugu
Inoue (2)
No. of shareholders: 30
(about)
Nothing detrimental is known as to the commercial
morality of executives.
Activities: Imports, exports and wholesales paints &
coatings, adhesives, sealing agents, adhesives, painting machinery &
equipment, others (--100%).
(Handling items):
Paints & Coatings: paints & coatings for
buildings, for industrial machinery, for plants, specialty paints, heavy duty
anti-corrosive paints, solvents, insulating paints, others;
Chemical Products: adhesives, adhesive tapes, sealing
agents, paint raw materials & intermediates, aircraft parts, abrasives,
others;
Machinery & Equipment: painting machinery &
tools, painting facilities, surface treatment agents, pollution control
equipment, others;
Imports/Exports as Agent for DSM (Netherlands):
Additives, powdered paints, synthetic resins, alkyd emulsion, others.
Clients: [Mfrs,
wholesalers] JFE Container, Toshiba Group firms, Mitsubishi Electric,
other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsubishi Shoji Chemical (30%), DIC Corp, Nihon Tokushu Toryo,
Rock Paint, Uniranto, 3M Japan, other.
Imports from DSM, Netherlands, other.
Payment record: No
Complaints
Location: Business
area in Tokyo. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (Shiba)
Resona Bank (Tamachi)
Relations: Satisfactory
FINANCES: (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 |
|
4,500 |
4,378 |
4,508 |
4,099 |
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Recur. Profit |
|
150 |
144 |
166 |
109 |
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Net Profit |
|
85 |
79 |
63 |
43 |
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Total Assets |
|
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3,108 |
3,205 |
3,101 |
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Current Assets |
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|
2,257 |
2,385 |
2,280 |
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Current Liabs |
|
|
1,341 |
1,433 |
1,294 |
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Net Worth |
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|
1,150 |
1,076 |
1,019 |
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Capital, Paid-Up |
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|
30 |
30 |
30 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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2.79 |
-2.88 |
9.98 |
8.96 |
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Current Ratio |
|
.. |
168.31 |
166.43 |
176.20 |
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N.Worth Ratio |
|
.. |
37.00 |
33.57 |
32.86 |
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R.Profit/Sales |
|
3.33 |
3.29 |
3.68 |
2.66 |
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N.Profit/Sales |
|
1.89 |
1.80 |
1.40 |
1.05 |
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Return On Equity |
|
.. |
6.87 |
5.86 |
4.22 |
Notes: Forecast (or estimated) figures for the 31/03/2016
fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.16 |
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UK Pound |
1 |
Rs.101.22 |
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Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TRU |
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.