MIRA
INFORM REPORT
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Report Date : |
23.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
MITSUBA TRADING CO LTD |
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Registered Office : |
Nohara
Bldg 7F, 4-1 Yotsuya Shinjukuku Tokyo 160-0004 |
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Country : |
Japan |
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Date of Incorporation : |
July, 1965 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import and
wholesale of pharmaceuticals, jewellery and chemicals. |
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 63 millions |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
MITSUBA TRADING CO LTD
REGD NAME
Mitsuba Boeki KK
MAIN OFFICE
Nohara Bldg 7F, 4-1 Yotsuya
Shinjukuku Tokyo 160-0004 JAPAN
Tel : 03-3353-2301
Fax : 03-3353-2639
URL : http://www.mitsuba-t.com
E-Mail address: pharma@mitsuba-t.com
(Pharmaceutical Div)
jewel@mitsuba-t.com (Jewelry Div)
chem.@mitsuba-t.com (Chemicals Div)
ACTIVITIES
Import, wholesale of
pharmaceuticals, jewellery, chemicals
BRANCHES
Yokohama
OVERSEAS
Mexico City (Mexico)
FACTORY(IES)
At the caption
address (Laboratory)
OFFICERS
SHIN’ICHIRO NAKAMURA,
PRES
Seiji Eto, v pres
Atsushi Yamada, dir
Yen Amount : In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,459 M
PAYMENTS REGULAR CAPITAL Yen 45 M
TREND STEADY WORTH Yen
477 M
STARTED 1965 EMPLOYES 31
COMMENT
TRADING FIRM
SPECIALIZING IN PHARMACEUTICALS, JEWELRY AND CHEMICALS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 63 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established in order to reactivate a shell company founded 1945, YK Mitsuba Shoji. This is a trading firm for import and wholesale of pharmaceuticals, jewellery and chemicals, the three core divisions (see OPERATION for details). Also has mfg division with laboratory attached. Products are imported from Germany, Mexico, China, USA, Korea, Taiwan, Singapore, other. Clients are major pharmaceutical mfrs, cosmetics mfrs, food processors, health food processors, others, nationwide. Financials are only partially disclosed.
FINANCIAL INFORMATION
The sales volume for Jun/2006 fiscal term amounted to Yen 3,459 million, a 12% up from Yen 3,102 million in the previous term. Materials prices hike contributed to sales growth. Demand for pharmaceutical intermediates rose sharply. Weaker Yen also contributed to push sales upward in Yen terms. The recurring profit was posted at Yen 361 million, up from Yen 194 million the previous year, and the net profit at Yen 188 million, up 71% from Yen 110 million a year ago.
For the current term ending Jun 2007 the net profit is
projected at Yen 190 million, on a 4% rise in turnover, to Yen 3,600
million. Business continues on the
upswing.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 63 million, on 30 days normal terms.
REGISTRATION
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Date
Registered |
Jul 1965 |
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Legal
Status |
Limited Company (Kabushiki
Kaisha) |
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Authorized |
96,000 shares |
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Issued |
90,940 shares |
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Sum |
Yen 45.47 million |
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Major
shareholders (%) |
Shin’ichiro Nakamura (55),
Yukio Morita (10), Seiji Eto (7) |
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No.
of shareholders |
8 |
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Nothing detrimental is known
as to the commercial morality of executives. |
OPERATION
Activities: Trading
house with three core divisions (sales breakdowns all about):
Pharmaceuticals
Div (50%): suppository-based “Witepsol” (Germany) as treatment of quadriceps
contracture – an adverse reaction to injections of antipyretic in infants;
sasol products, hormone materials, in vitro diagnostic reagents, general
medical bulk drugs, others;
Chemicals
Div (30%): 70% of the goods are of Mexican natural plants; aloe vera powder,
aloe vera gel, agave extract, candilla wax, quillaja extract, seabuckthorn
(fruit juice powder, seed oil, fruit oil, teas; from China), jojoba, yucca
materials & products;
Jewel
Div & others (--20%): the history of the division goes back to the 1970’ when
the firm imported opals from Mexico. In
1978, imported diamonds from Mumbai for the first time, the diamonds have become the major products
handled. Import sources today are:
India, Israel, Thailand, other.
Pharmaceutical
Laboratory: mfg (subcontracted) of bulk “Human Menopausal Gonad-otorophin”,
which is contained in urine of menopausal female. Materials are imported and supplied from China & Taiwan.
Clients
[Pharmaceutical mfrs, food
processors, cosmetics mfrs] Hitachi Chemical, Ajinomoto Pharma, Nihon
Pharmaceutical, JCR Pharmaceuticals, Kao Corp, Kanebo Ltd, Sato Pharmaceutical,
Taisho Pharmaceutical, Yama Co, Fujikawa & Co, other.
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers
Pharmaceutical
Div:
SASOL GmbH, Dynamit Nobel GmbH (--Germany); Nanjing KF & WB Bio Resources
Ltd, China Wujin City Huangli No.2 Biochemical Factory, Starzoom (Hong Kong)
Ltd, Shanghai Fudan-Zhangjiang Bio-Pharmaceutical, Kafula Ltd (Hong Kong),
Anapure Bioscientific Co, other (--China); Peptisyntha Inc (USA); Yun Baek Mull
San Co, Samil Pharma Co, Mack Corp, SE-An Corp, other (--Korea); Good Biotech
Corp, Taiwan Chlorella Mfr Co (--Taiwan);
Chemicals
Div:
Mexi Aloe Lab SA, Ceras Naturales Mexicanas, UPCHN Plan Piloto Chicleo
(--Mexico); Desert King International (USA); SASOL Germany GmbH (Germany), Taiwan
Chlorella Mfr Co (Taiwan);
Jewel
Div: PC
Jain & Co, Blue Star, Asian Star Co Ltd, other.
Payment record: Regular
Location
Business area
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References
Bank of
Tokyo-Mitsubishi UFJ (Yotsuya)
Resona Bank
(Toranomon)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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30/06/2007 |
30/06/2006 |
30/06/2005 |
30/06/2004 |
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Annual Sales |
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3,600 |
3,459 |
3,102 |
3,039 |
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Recur. Profit |
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.. |
361 |
194 |
127 |
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Net Profit |
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190 |
188 |
110 |
65 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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477 |
289 |
179 |
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Capital, Paid-Up |
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45 |
45 |
45 |
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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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S.Growth Rate |
4.08 |
11.51 |
2.07 |
-1.65 |
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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 |
5.28 |
5.44 |
3.55 |
2.14 |
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Financials are only
partially disclosed.
Forecast (or
estimated) for the 31/03/2007 fiscal term.
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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