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MIRA INFORM REPORT
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Report No. : |
490290 |
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Report Date : |
03.02.2018 |
IDENTIFICATION DETAILS
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Name : |
KIWA CHEMICAL INDUSTRY CO LTD |
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Registered Office : |
33 Minamitanabecho Wakayama City 640-8254 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
December 1954 |
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Com. Reg. No.: |
1700-01-000993 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures dyestuffs: disperse, acid, reactive, transfer printing, action types), plastic colorings, other |
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No. of Employees : |
160 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
JAPAN - ECONOMIC OVERVIEW
Over the past 70 years, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (slightly less than 1% of GDP) have helped Japan develop an advanced economy. Two notable characteristics of the post-World War II 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 have significantly eroded under the dual pressures of global competition and domestic demographic change.
Measured on a purchasing power parity basis that adjusts for price differences, Japan in 2017 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. For three postwar decades, overall real economic growth was impressive - a 10% average in the 1960s, 5% in the 1970s, and 4% in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the aftereffects of inefficient investment and the collapse of an asset price bubble in the late 1980s, which entailed considerable 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.
Japan enjoyed an 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. Led by the Bank of Japan’s aggressive monetary easing, Japan is making modest progress in ending deflation, but demographic decline – a low birthrate and an aging, shrinking population – poses a major long-term challenge for the economy. The government currently faces the quandary of balancing its efforts to stimulate growth and institute economic reforms with the necessity of addressing its sizable public debt, which stands at 235% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate. However, the first such increase, in April 2014, led to another recession, so Prime Minister ABE has twice postponed the next increase, now scheduled for October 2019. Structural reforms to unlock productivity are seen as central to strengthening the economy in the long-run.
Scarce in critical natural resources, Japan has long been dependent on imported energy and raw materials. After the complete shutdown of Japan’s nuclear reactors following the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than before on imported fossil fuels. However, ABE’s government is seeking to restart nuclear power plants that meet strict new safety standards and is emphasizing nuclear energy’s importance as a base-load electricity source. In August 2015, Japan successfully restarted one nuclear reactor at the Sendai Nuclear Power Plant in Kagoshima prefecture, and several other reactors around the country have since resumed operations; however, opposition from local governments has delayed several more restarts that remain pending. Reforms of the electricity and gas sectors, including full liberalization of Japan’s energy market in April 2016 and gas market in April 2017, constitute an important part of Prime Minister Abe’s economic program.
In October 2015, Japan and 11 trading partners reached agreement on the Trans-Pacific Partnership (TPP), a pact that had promised to open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. Japan was the second country to ratify the TPP in December 2016; the United States signaled its withdrawal from the TPP on January 23, 2017, and as of April 2017 the agreement has not gone into effect.
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Source : CIA |
Company
name and address
KIWA
CHEMICAL INDUSTRY CO LTD
REGD
NAME: Kiwa Kagaku Kogyo KK
MAIN
OFFICE: 33 Minamitanabecho Wakayama City
640-8254 JAPAN
Tel: 073-423-3211 Fax: 073-425-9338
URL: http://www.kiwa-chem.com/
E-Mail address: web-master@kiwa-chem.com
ACTIVITIES: Mfg of dyestuffs, reflective sheeting
BRANCHES: Wakayama (3, including 1 warehouse)
FACTORIES: Omatsu, Kinokawa (--Wakayama)
OFFICER(S): SHUNJI MAEKAWA, PRES Yasunori Nakashiba, s/mgn dir
Masanori Furuta, mgn dir Shigeo Yukawa, mgn dir
Kazushige Shoji, mgn dir Noboru Etoh, advisor
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 5,872 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen
7,200 M
STARTED 1954 EMPLOYES 160
COMMENT
MFR OF DYESTUFFS & REFLECTIVE
SHEETING.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject
company was established on the basis of a division separated from Sakai Trading
Co Ltd, trading house specializing in chemicals, Osaka, and became
independent. Specializes in mfg various
types of dyestuffs, reflective sheeting, others (See OPERATION). Materials are imported. Clients include chemical mfrs,
wholesalers, other.
FINANCIAL
INFORMATION
The sales volume
for Dec/2016 fiscal term amounted to Yen 5,872 million, a 10% fall from Yen
6,538 million in the previous term. The
recurring profit was posted at Yen 568 million and the net profit at Yen 319
million, respectively, compared with Yen 777 million recurring profit and Yen
478 net profit, respectively, a year ago.
For the current
term ending Dec 2017 the recurring profit is projected at Yen 575 million and
the net profit at Yen 330 million, respectively, on a 3% rise in turnover, to
Yen 6,050 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
REGISTRATION
Date
Registered: Dec 1954
Regd
No.: 1700-01-000993 (Wakayama-Wakayama)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
160,000 shares
Issued:
40,000 shares
Sum: Yen 20 million
Major shareholders
(%): Mikiko Takimoto (24), Yasunori Nakashiba (23), Okahata Sangyo KK (10),
Noboru Etoh (3), other
No.
of shareholders: 18
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Manufactures
dyestuffs: disperse, acid, reactive, transfer printing, action types), plastic
colorings, other (--100%)
Clients: [Mfrs, wholesalers] Sumitomo Shoji Chemical, Sakai Trading Co, OG Corp, Shinwa Sangyo, Moriroku Chemicals, Nikka Fine Techno, Emori & Co, Okamoto Dyes, Okahata Sangyo, other
No. of accounts: 300
Domestic areas of activities: Centered in
greater-Osaka
Suppliers: [Mfrs,
wholesalers] Sakai Trading, Okahata Sangyo, Shinwa Sangyo, Koa & Co, Sankyo
Shoji, Moriroku Chemicals, other.
Payment
record: Regular
Location: Business area in Wakayama. Office premises at the caption address are
owned and maintained satisfactorily.
Bank
References:
Kiyo
Bank (H/O)
Shoko
Chukin Bank (Wakayama)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2017 |
31/12/2016 |
31/12/2015 |
31/12/2014 |
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Annual Sales |
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6,050 |
5,872 |
6,538 |
6,767 |
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Recur. Profit |
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575 |
568 |
777 |
694 |
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Net Profit |
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330 |
319 |
478 |
391 |
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Total Assets |
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11,046 |
11,420 |
11,414 |
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Net Worth |
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7,200 |
6,883 |
6,414 |
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Capital, Paid-Up |
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20 |
20 |
20 |
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Div.Ttl in Million (¥) |
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2 |
10 |
2 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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3.03 |
-10.19 |
-3.38 |
26.23 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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65.18 |
60.27 |
56.19 |
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N.Profit/Sales |
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5.45 |
5.43 |
7.31 |
5.78 |
Notes: Forecast (or estimated) figures for
the 31/12/2017 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.08 |
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1 |
INR 91.34 |
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Euro |
1 |
INR 80.03 |
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YEN |
1 |
INR 0.58 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.