MIRA
INFORM REPORT
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Report Date : |
28th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
ITOCHU CORPORATION |
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Registered Office : |
2-5-1 Kitaaoyama Minatoku Tokyo 107-8807 |
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Country : |
Japan |
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Financials (as on) : |
31/03/2006 |
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Date of Incorporation : |
Dec 1949 |
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Legal Form : |
Limited Company |
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Line of Business : |
General Trading House |
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 : |
Regular
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Litigation : |
Clear |
name
ITOCHU CORPORATION
REGD NAME
Itochu Shoji KK
MAIN OFFICE
(Tokyo) 2-5-1 Kitaaoyama Minatoku Tokyo 107-8807 JAPAN
Tel : 03-3497-2121
Fax : 03-3497-4141
(Osaka) 4-1-3 Kyutaromachi Chuoku Osaka 541-8577
Tel : 06-6241-2121
Fax : 06-6241-3220
URL : http://www.itochu.co.jp/
E-Mail address : webmaster@itochu.co.jp
ACTIVITIES
General trading house
FINANCIAL INFORMATION
The firm released its half-yearly
business results ending 30/09/2006 as follows:
Sales 5,572,402 million, (up 11.1%),
recurring profit Yen 137,666 million (up 65.6%, net profit Yen 96,669
million (up 56.3%). (% compared with
the same period the last term).
Total transactions increased mainly I
Machinery due to an increase in automobile transactions; in Energy,
Metals & Minerals through rising price in crude oil and sales volume increases; in Chemicals, Forest Products & General Merchandise due to steadily high market prices in chemicals and building materials in
N America; and in Food due to increase
associated with turning Nippon Access Inc into a consolidated subsidiary.
Achievement accomplished this fiscal
half year in Textile, in particular:
The firm decided to start the business
of a ladies’ private brand, Demi Etage in APITA shop from this autumn based on
a Minute of Understanding for the blanket business cooperation with UNY Co Ltd.
Also, the firm obtained a license in Japan for Sergio Tachini, an Italian sport
brand, to start efforts to diversified needs.
Following the half-yearly results the
firm revised upwards its forecast for the current term ending Mar 2007 to: Sales Yen 11,500,000 million (up 6%), net
profit Yen 171,000 million (up 10%).
(% compared with the earlier projections).
Year-on-year basis sales will be up 9.8% and net profit up 17.8% over
the last year.
Projections are based on: Yen/Dollar
rates: Yen 115.00 to the Dollar; Crude Oil prices US$66/BBL
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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