MIRA
INFORM REPORT
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Report Date : |
25.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
MITSUYA BOEKI LTD |
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Registered Office : |
Yamaguchi Kosan Sakaisuji Bldg, 2-2-7 Kyutaromachi Chuoku
Osaka 541-0056 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Aug 1985 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of industrial chemicals,
pharmaceuticals, health foods |
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 62 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
MITSUYA BOEKI LTD
REGD NAME
Mitsuya Boeki KK
MAIN OFFICE
Yamaguchi Kosan Sakaisuji Bldg, 2-2-7 Kyutaromachi Chuoku Osaka
541-0056 JAPAN
Tel : 06-6260-4581
Fax : 06-6260-4575
URL : http://www.mitsuya-boeki.co.jp
E-Mail address: info@mitsuya-boeki.co.jp
ACTIVITIES
Import, export, wholesale of industrial chemicals,
pharmaceuticals, health foods
BRANCHES
Teheran; Mitsuya Boeki (USA) Inc (subsidiary)
OFFICERS
YASUO TAKAHASHI, PRES
Kiyoshi Nishimura, s/mgn dir
Koji Hirata, mgn dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 7,018 M
PAYMENTS REGULAR CAPITAL Yen 52 M
TREND STEADY WORTH Yen 137 M
STARTED 1985 EMPLOYES 39
COMMENT
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 62 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Yasuo Takahashi
jointly with three other entrepreneurs (all on the board and
shareholders). Originally started
importing pharmaceutical raw materials & intermediates from Australia,
India and China, the core of its operations.
Today, the firm has diversified handling products to include: pigments,
paints, other industrial chemicals, pharmaceutical intermediates, food
additives, health foods, cosmetics & toiletries. Main market base is USA,
where the firm operates a subsidiary, Mitsuya Boeki (USA) Inc. Imports of raw materials for pharmaceuticals
continue growing from India & China.
Operations are also diversified into advanced areas, such as fuel cells,
nano powder (fine), etc. Goods are
actively exported to USA,
Mid/South America, India, Europe, Africa, Mid/Near East, China, other S/E Asia.
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 7,018 million, a 12% hike from Yen 6,253 million in the previous term. Exports rose on the back of robust demand for industrial chemicals particularly in China & other S/E Asian countries. The recurring profit was posted at Yen 131 million and the net profit at Yen 23 million, respectively, a sharp hike from Yen 21 million recurring profit and Yen 2 million net profit a year ago.
For the term just ended Mar 2007 the net profit was projected
at Yen 25 million, on a 7% rise in turnover, to Yen 7,500 million. While exports increased, the weaker Yen
against foreign currencies must have contributed.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 62.0 million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug
1985
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4,000
shares
Issued: 1,040
shares
Sum: Yen
52 million
Major shareholders (%): Yasuo Takahashi (45), Kiyoshi Nishimura (28), Koji Hirata (15), Kikuo Nakamichi (10),
Takako Hirata (9)
No. of shareholders: 10
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, exports and wholesales industrial chemicals:
cosmetics/toiletries, electronics materials, food additives, glass materials,
pharmaceuticals materials & intermediates, textiles, pulp & paper,
plastics, toothpaste, detergent, agricultural chemicals, construction
materials, others (--100%).
Pharmaceuticals intermediates are mainly imported from China
and India.
Goods are widely exported to: USA, Mid/South America, India,
China, UK, Germany, Africa, Mexico,
Taiwan, other S/E Asian countries, etc.
Clients: [Mfrs, wholesalers] Exports to USA, Australia, India, China, Europe, Mid/South America, Mid/Near East, S/E Asia, other. Domestic clients include: Japan Organic Chemical Ind, Japan General, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Tosoh Corp, Shin-Etsu Chemical,
Otsuka Chemical, Ube Ind, Nippon Shokubai, Stella Chemifa, Daicel Chemical,
Nippon Paper Chemical, Japan Carbide, other.
Also imports from India, China, Australia, other.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Semba)
SMBC (Namba)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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7,500 |
7,018 |
6,253 |
6,050 |
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Recur.
Profit |
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131 |
21 |
2 |
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Net
Profit |
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25 |
23 |
2 |
-17 |
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Total
Assets |
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1,215 |
1,151 |
1,031 |
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Current
Assets |
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1,042 |
957 |
843 |
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Current
Liabs |
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804 |
904 |
733 |
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Net
Worth |
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137 |
107 |
103 |
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Capital,
Paid-Up |
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52 |
52 |
52 |
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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 |
6.87 |
12.23 |
3.36 |
-10.87 |
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Current Ratio |
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.. |
129.60 |
105.86 |
115.01 |
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N.Worth Ratio |
.. |
11.28 |
9.30 |
9.99 |
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R.Profit/Sales |
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.. |
1.87 |
0.34 |
0.03 |
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N.Profit/Sales |
0.33 |
0.33 |
0.03 |
-0.28 |
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Return On Equity |
.. |
16.79 |
1.87 |
-16.50 |
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Note: 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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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)