%2009-May-2006_files/image002.jpg)
MIRA INFORM REPORT
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Report Date : |
9th May 2006 |
IDENTIFICATION DETAILS
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Name : |
BETA-CHEM INC (Note
BETA-CHEM, NOT BETA CHEM) |
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Registered Office : |
San-no Tower Bldg 26F,
2-11-1 Nagatacho Chiyodaku Tokyo 100-0014 JAPAN |
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Date of Incorporation : |
Sept 2001 |
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Legal Form : |
Limited Company |
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Line of Business : |
Engaged in
the business of development, contract manufacturing of pharmaceuticals
intermediates & ingredients |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
RATING
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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 308.5 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME
BETA-CHEM INC (Note BETA-CHEM, NOT BETA CHEM)
REGD NAME
KK Beta Kemu
MAIN OFFICE
San-no Tower Bldg 26F, 2-11-1 Nagatacho Chiyodaku
Tokyo
100-0014 JAPAN
Tel: 03-5501-3611
Fax: 03-5501-3613
*.. Registered at: 1-2-1 Ohtemachi Chiyodaku Tokyo,
where the parent, Mitsui
& Co, is located, as given.
E-Mail address webmaster@beta-chem.com; info@beta-chem.com/
ACTIVITIES
Development, contract mfg of
pharmaceuticals intermediates & ingredients
BRANCHES
Nil
OVERSEAS
Beta-Chem (USA) Inc (subsidiary),
established Nov 2003.
FACTORY(IES)
(subcontracted with 30-40 mfrs both at
home & abroad)
OFFICER(S)
ICHIRO SHINKAI, PRES & CEO*
Makoto Kuroda, rep dir
Kenichi Kitajima, dir
*.. Authority on process chemistry who worked in process research
&
development until 1996, Pres & CSO
at Merck & Co Inc, USA, retiring at the
age of 55. While Merck, he occasionally sourced pharmaceutical ingredients
and intermediates from Mitsui & Co.
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES AIR A/SALES en
9,271 M
PAYMENTS EGULAR CAPITAL en 470 M
TREND STEADY WORTH Yen 708 M
STARTED 001 EMPLOYES 1
COMMENT
DEVELOPER & CONTRACT MFR
SPECIALIZING PHARMACEUTICALS INTERMEDIATES & INGREDIENTS, WHOLLY OWNED BY
MITSUI & CO. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 308.5 MILLION,
NORMAL 30 DAYS TERMS.
HIGHLIGHTS
The subject company was established
on the basis of the Pharmaceutical & Medical Dept of the Life Science
Division separated from Mitsui & Co Ltd (see REGISTRATION), in order to consolidate
pharmaceutical ingredient and intermediate businesses of the firm. For the start, Mitsui & Co invited I
Shinkai (see * in OFFICERS).to head the new company. By combining the business of the Life Science Div and Beta-Chems
for contract development and mfg of pharmaceutical ingredients & intermediates,
Mitsui planned to achieve sales of Yen 50,000 million by 2008. Business outlined: development of synthetic
processes of pharmaceutical raw materials, intermediates; contract mfg services
of pharmaceutical raw materials, intermediates; consulting on pharmaceutical
R&D, process chemistry including regulatory and HSE affairs, etc. For the start, the subject firm entered into
a collaborative relationship with J-Star Research Inc, USA on the development
of production process for anti-AIDS drugs for US pharmaceutical firms and
diabetes treatment drugs for Japanese mfrs.
Since then business alliances and collaboration have expanded to now
about 30-40 pharmaceutical mfrs both at home & abroad. The firm imports intermediates and
ingredients competitively from India, China, other. This is a unique company functioning both as a general trading
house and a science-based company for contract pharmaceuticals mfg, without
owning either plant or lab. Strength
lies with the making of fullest use of Mitsuis global networks. The firm established Beta-Chem (USA) Inc in
Nov 2003, to concentrate on US operations, which are said to account for nearly
50% of the total sales.
The sales volume for Mar/2005
fiscal term amounted to Yen 9,271 million, a 30% up from Yen 7,142 million in
the previous term. This is thanks to
the gradual transfer of part of Lifestyle Div operations from the parent,
Mitsui & Co. The profits
deteriorated, however, due to the rising materials & overheads cost, to
register Yen 171 million recurring profit and Yen 101 million net profit, respectively. This compares with Yen 218 million recurring
profit and Yen 126 million net profit, respectively, a year ago.
For the term ended Mar/2006 the
recurring profit is estimated posted at Yen 190 million and the net profit at
Yen 110 million, respectively, on a 10% rise in turnover, to Yen 10,200
million. Actual results are yet to be
awaited.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 308.5
million, on normal 30 days terms.
REGISTRATION
Date Registered: Sept 2001
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7,600 shares
Issued: 9,400
shares
Sum: en 470 million
Major shareholders (%): Mitsui & Co
Ltd*(100)
*..Leading general trading house
of Japan, Tokyo, founded 1947, listed Tokyo, Osaka, Nagoya, Sapporo, Fukuoka, NASDAQ
S/Es, capital Yen 192,499 million, turnover Yen 13,615,047 million, recurring
profit Yen 175,644 million, net profit Yen 121,136 million, total assets Yen
8,207,037 million, net worth Yen 1,288,158 million, employees 10,209, pres
Shoei Utsuda
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Develops and
industrializes processes for the production of pharmaceuticals intermediates, ingredients,
raw materials, others (--100%). Full
business collaboration with J-Star Research Inc, USA, including with 30-40
pharmaceuticals mfrs at home & abroad.
Research with full collaboration
with J-Star Research Inc for four different pharmaceutical ingredients &
intermediates, including an optically active intermediate for a US pharmaceutical
companys new anti-AIDS drug, a diabetes treatment drug based on new mechanism,
an anti-asthma drug, and an anti-cancer drug for Japanese pharmaceutical companies. The system is that J-Star will establish new
reactions and synthesizing processes, while the subject will provide the
processes that are developed by J-Star to mfrs & pharmaceutical companies
by utilizing its network for pharmaceutical ingredient and intermediate
development and manufacturing in Japan, N America and Europe.
Clients: [Pharmaceuticals, mfrs,
wholesalers] Eisai Co, Kuraray Co, Juzen Chemical, Mitsui & Co (USA), Fuji
Chemical Ind, Yamakawa Chemical Ind, other.
No. of accounts: 50-60 (pharmaceutical
mfrs & labs)
Domestic areas of activities:
Nationwide
Suppliers: [Pharmaceuticals,
chemical mfrs] Juzen Chemical, Yamakawa Chemical Ind, Eisai Co, Kuraray Co,
Otsuka Chemical, Tama Kagaku Kogyo, Fuji Chemical Development, Nippon Junryo
Chemicals, other. J-Star Research Inc,
USA, etc.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References
SMBC (Akasaka)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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10,200
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9,271 |
7,142 |
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Recur.
Profit |
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190 |
171 |
218 |
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Net
Profit |
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110 |
101 |
126 |
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Total
Assets |
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1,823 |
1,944 |
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Current
Assets |
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1,788 |
1,902 |
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Current
Liabs |
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1,114 |
1,274 |
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Net
Worth |
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708 |
670 |
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Capital,
Paid-Up |
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470 |
470 |
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Div.P.Share(¥) |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
10.02 |
29.81 |
923.21
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Current Ratio |
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.. |
160.50
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149.29
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N.Worth Ratio |
.. |
38.84 |
34.47 |
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R.Profit/Sales |
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1.86 |
1.84 |
3.05 |
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N.Profit/Sales |
1.08 |
1.09 |
1.76 |
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Return On Equity |
.. |
14.27 |
18.81 |
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Notes: Forecast (or estimated) figures
for the 31/03/2006 fiscal term.
AS PER WEBSIT DETAIL
PROFILE
Company Name Beta-Chem,Inc.
%2009-May-2006_files/image004.gif){kind=small}
Location San-no Park Tower 26th
floor,
2-11-1, Nagata-cho, Chiyoda-ku,
Tokyo 100-6126, Japan
Phone +81-3-5501-3611(switchboard)
Fax +81-3-5501-3613
URLFhttp://www.beta-chem.com/
Established September 28th, 2001
%2009-May-2006_files/image005.gif){kind=small}
Capital 470
million Yen (as of March, 2005)
%2009-May-2006_files/image006.gif){kind=small}
President & C.S.O. Ichiro Shinkai, Ph.D.
%2009-May-2006_files/image007.gif){kind=small}
Shareholder Mitsui & Co., Ltd.@100%
%2009-May-2006_files/image008.gif){kind=small}
Employees 14 (as of March, 2005)
Scope of business [P ] Development
of synthetic processes of@pharmaceutical raw materials, intermediates
and@APIs.
[Q] Contract
manufacturing services of pharmaceutical raw materials, intermediates and APIs.
[R] Consulting
on pharmaceutical R&D, process chemistry including regulatory and HSE
affairs.
[S] All
the business additionally relating to the above mentioned and in partnership
with a number of tie-up companies including, J-Star Research.
RATING EXPLANATIONS
RATING
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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 |