MIRA
INFORM REPORT
|
Report Date : |
27.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SANSEI BUSSAN CO LTD |
|
|
|
|
Registered Office : |
Tokyo Tatemono Muromachi Bldg 3F, 4-3-18
Nihombashi-Marunouchi Chuoku Tokyo 103-0022 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
Aug 1953 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, export, wholesale of
synthetic resins, molding machines, other |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 559.6 millions |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
-- |
name
SANSEI BUSSAN CO LTD
REGD NAME
Sansei Bussan KK
MAIN OFFICE
Tokyo Tatemono Muromachi Bldg 3F, 4-3-18 Nihombashi-Marunouchi
Chuoku Tokyo 103-0022 JAPAN
Tel : 03-3270-5721
Fax : 03-3270-2540
URL : http://www.sbc-net.co.jp
E-Mail address: sbc.kanri@sbc-net.co.jp
ACTIVITIES
Import, export, wholesale of synthetic resins, molding
machines, other
BRANCHES
Osaka, Nagoya, Hiroshima, Fukuoka, Sendai
OVERSEAS
Sansei Bussan (Thailand) Co Ltd; Sansei Bussan (Hong Kong) Ltd
(--subsidiaries)
OFFICERS
TOMOYOSHI TAKEUCHI, PRES Toshio
Odoh, mgn dir
Mitsuo Takashima, mgn dir Takashi
Oka, dir
Mitsuhiko Higuchi, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 23,437 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND STEADY WORTH Yen 3,744 M
STARTED 1953 EMPLOYES 105
COMMENT
TRADING FIRM SPECIALIZING IN SYNTHETIC MATERIALS &
PRODUCTS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 559.6 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by father of Hideo Takeuchi
in order to make most of his experience in the subject line of business. This is a trading house specializing in
importing, exporting and wholesaling synthetic resins materials & intermediates,
their products, other (See
OPERATION). Has two overseas
subsidiaries in Thailand & Hong Kong.
Goods are imported from
these factories, and domestically supplied from nation’s major chemical mfrs, etc.
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 23,437 million, a 10% hike from Yen 21,335 million in the previous term. Price hikes of resin materials contributed to sales growth. The recurring profit was posted at Yen 190 million and the net profit at Yen 1,261 million, respectively, compared with Yen 187 million recurring profit and Yen 80 million net profit, respectively, a year ago. The steep improvement of net profit for the term is said including inventory evaluation profits, details not revealed.
For the term just ended Mar 2007 the net profit was projected
at Yen 80 million, on a 2% rise in turnover, to Yen 24,000 million. Weaker Yen could have raised sales amount in
Yen terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 559.6 million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug
1953
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800,000
shares
Issued: 200,000
shares
Sum: Yen
100 million
Major shareholders (%): Hideo Ogawa (6), Tomoyoshi Takeuchi (5), Takashi Oka (4), Toshio Odoh (4), Mitsuo
Takashima (4)
No. of shareholders: 114
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, exports and wholesales synthetic resin
materials % intermediates, plastic products, other related goods (--100%).
(Handling items):
synthetic resins materials & intermediates, engineering plastics, phenol
resins, other resins, plastic films, sheets, other plastic products; Injection
molding machines, their parts & accessories; Agricultural equipment
& supplies: black peat, bark compost; Health foods: turtle soup, other.
Clients: [Mfrs, wholesalers] Denso Corp, Asahi Matsushita
Electric Ind, Yoshino Kogyosho, Meiwa Vendix, Kusumi Seisakusho, Hellerman Tyton,
other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Chemical, Toray Ind,
GE Polymerland Japan, Mitsubishi Rayon, Mitsubishi Corp, Mitsui & Co, Asahi
Glass, other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
SMBC (Nihombashi)
Mizuho Bank (Nihombashi)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
|
|
Annual
Sales |
|
24,000 |
23,437 |
21,335 |
20,786 |
|
Recur.
Profit |
|
|
190 |
187 |
|
|
Net
Profit |
|
80 |
1,261 |
80 |
80 |
|
Total
Assets |
|
|
12,206 |
10,324 |
|
|
Current
Assets |
|
|
9,976 |
8,120 |
|
|
Current
Liabs |
|
|
6,816 |
5,753 |
|
|
Net
Worth |
|
|
3,744 |
2,501 |
|
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.40 |
9.85 |
2.64 |
1.80 |
|
|
Current Ratio |
|
.. |
146.36 |
141.14 |
.. |
|
N.Worth Ratio |
.. |
30.67 |
24.23 |
.. |
|
|
R.Profit/Sales |
|
.. |
0.81 |
0.88 |
.. |
|
N.Profit/Sales |
0.33 |
5.38 |
0.37 |
0.38 |
|
|
Return On Equity |
.. |
33.68 |
3.20 |
.. |
|
Note: Forecast (or estimated) for the 31/03/2007 fiscal
term.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)