MIRA
INFORM REPORT
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Report Date : |
8th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
ASEAN TRADING CO LTD |
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Registered Office : |
5-3 Kita-Itami Itami Hyogo-Pref 664-0831
Japan |
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Country : |
Japan |
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Financials (as on) : |
31/05/2006 |
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Date of Incorporation : |
Jun 1986 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importers, wholesalers
of starch ingredients, dietary fiber materials |
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 59.5 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
ASEAN TRADING CO LTD
REGD NAME
Asean Trading KK
MAIN OFFICE
5-3 Kita-Itami Itami Hyogo-Pref 664-0831 JAPAN
Tel: 072-771-2010
Fax: 072-772-0677
URL: http://www.matsutani.co.jp/
(of the top parent)
E-Mail address: webmaster@matsutani.co.jp
ACTIVITIES
Import, wholesale of starch
ingredients, dietary fiber materials
BRANCHES
Nil
FACTORY(IES)
Thailand (Parent’s
subsidiary mfr)
OFFICER(S)
HIROSHI ICHIHARA, PRES
Yen Amount
In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen
6,556 M
PAYMENTS REGULAR CAPITAL Yen
22 M
TREND STEADY WORTH Yen
174 M
STARTED 1986 EMPLOYES 3
COMMENT
IMPORTER AND WHOLESALER
SPECIALIZING IN STARCH INGREDIENTS & MATERIALS. FINANCIAL SITUATION CONSIDERED FAIR TO GOOD AND RESPONSIBLE FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN
59.5 MILLION, NORMAL 30 DAYS TERMS.
HIGHLIGHTS
The subject company was
established on the basis of trading division separated from Matsutani Chemical
Ind Ltd, mfr of starchy foods, dietary fibers, at the caption address (see REGISTRATION),
for importing starch from its subsidiary in Thailand, Siam Modified Starch, mfr
of chemically-modified starch, founded in 1985. Hiroshi Ichihara is concurrently s/mgn at the parent. The subject imports starch, ingredients
& materials solely from the Thai mfr for exclusive delivery to the
parent. This is virtually taken as an
import division of the parent firm. The
starch products are being in high demand from food & confectionary
industries as being non-genetically modified food ingredients. The products are also shipped to health
foods, cosmetics and pharmaceutical mfrs.
The financials are only partially disclosed.
The sales volume for
May/2005 fiscal term amounted to Yen 6,556 million, a 3.5% up from Yen 6,332
million in the previous term. This is
thanks to growing demand for non-genetically modified foods nationwide from
food, confectionery and other makers.
The starch ingredients are also very much in demand from
pharmaceuticals, cosmetics, health foods industries. The net profit increased to Yen 85 million from Yen 83 million a
year ago.
For the term just ended
May 2006 the net profit was projected at Yen 85 million, on a 4% rise in
turnover, to Yen 6,800 million.
Products continued in growing demand.
The financial situation
is considered FAIR to GOOD and responsible for ORDINARY business
engagements. Max credit limit is
estimated at Yen 59.5 million, on normal 30 days terms.
REGISTRATION
Date Registered: Jun 1986
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1,800
shares
Issued: 450
shares
Sum: Yen
22.5 million
Major shareholders (%):
Matsutani Co*(300), Matsutani Food Logistics*(45), Hiroshi Ichihara (30),
Eijiro Matsutani (30)
*.. Sister firms in the
line of trading and logistics, wholly owned by Matsutani Chemical Industry Co
Ltd**.
**.. Mfr of starchy
foods, dietary fibers, at the caption address, having about 50% market share in
the processed starch market, founded 1937, capital Yen 100 million, turnover
Yen 34,770 million, recurring profit Yen 1,695 million, net profit Yen 1,125
million, employees 350, pres Eijiro Matsutani.
No. of shareholders: 7
Nothing detrimental is
known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales starch (non-genetically modified), starchy materials &
ingredients, wholly from sister mfr in Thailand (--100%). Products are wholly shipped to the parent,
Matsutani Chemical Industry Ltd.
Clients: [Food mfr]
Shipped wholly to the parent, Matsutani Chemical Ind Ltd.
No. of accounts: 1
Domestic areas of
activities: Centered in Hyogo-Pref
Suppliers: [Mfr]
Imports wholly from sister mfr, Siam Modified Starch, Thailand.
Payment record: Regular
Location: Business area
in Itami City, adjacent to Osaka City.
Office premises at the caption address are owned by the parent and
maintained satisfactorily.
Bank Reference
Bank of
Tokyo-Mitsubishi UFJ (Osaka-Chuo)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms
Ending: |
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31/05/2006 |
31/05/2005 |
31/05/2004 |
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Annual
Sales |
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6,800
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6,556
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6,332
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Recur.
Profit |
(*) |
.. |
139
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136
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Net
Profit |
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85
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83
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81
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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174
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91
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Capital,
Paid-Up |
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22
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22
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Div.P.Share(¥) |
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0.00
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0.00
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.72
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3.54
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13.58
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Current Ratio |
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.. |
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N.Worth Ratio |
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.. |
.. |
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N.Profit/Sales |
1.25
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1.27
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1.28
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Notes: Financials are
only partially disclosed.
Forecast (or estimated)
figures for the 31/05/2006 fiscal term.
(*) Data disclosed by
the Taxation Office as the pretax profits.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |