MIRA
INFORM REPORT
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Report Date : |
16.08.2007 |
IDENTIFICATION DETAILS
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Name : |
HIKA & CO LTD |
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Registered Office : |
530 Karatsuyamacho Horikawadori-Iru 4-jodori Shimogyoku
Kyoto, 600-8499 |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
September 1947 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of industrial 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 92.6 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
HIKA & CO LTD
REGD NAME: Hika Sangyo KK
ADDRESS
MAIN OFFICE:
530 Karatsuyamacho Horikawadori-Iru 4-jodori Shimogyoku Kyoto, 600-8499
Tel : 075-801-6311
Fax : 075-812-3217
The given address is its Osaka Branch Office at:
Mitsubishi Seihan Bldg 1F, 1-3-9 Kyutaromachi Chuoku
Phone : 06-6261-0551
Fax : 06-6261-0428
URL : http://www.hika.co.jp/
E-Mail : head@hika.co.jp
ACTIVITIES
Import, export, wholesale of industrial chemicals
BRANCHES
FACTORY(IES)
Saitama,
OFFICERS
MASATSUGU HIKA, PRES Noboru
Katayama, dir
Takahide Oyama, dir Tohru
Araki, dir
Masahiko Tsukamoto, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 9,987 M
PAYMENTS REGULAR CAPITAL Yen
90 M
TREND STEADY WORTH Yen
520 M
STARTED 1947 EMPLOYES 51
COMMENT
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDI- NARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 92.6 MILLION, 30 DAYS
HIGHLIGHTS
The subject company was established originally in 1887 by a certain Hika
for selling dyestuffs & soaps, on his account. Incorporated in 1947, the firm has been
succeeded by his descendants. Masatsugu
Hika took the pres office in Feb 1999.
This is a specialized trading firm of industrial chemicals, such as
surfactant, synthetic resins, dyestuffs, pigments, intermediates, food
additives, paints, ink, electronic chemicals, other. Goods are widely imported from and exported
to Europe, S/E Asia,
FINANCIAL INFORMATION
The sales volume for Dec/2007 fiscal term amounted to Yen 9,987 million,
a 2% up from Yen 9,769 million in the previous term. Demand for environmental-related chemicals
and food-related goods continued rising.
The recurring profit was posted at Yen 61 million and the net profit at
Yen 38 million, respectively, compared with Yen 54 million recurring profit and
Yen 34 million net profit, respectively, a year ago.
For the current term ending Dec 2007 the recurring profit is projected
at Yen 62 million and the net profit at Yen 38 million, respectively, on a
similar turnover, at Yen 10,000 million.
The firm targets sales to reach Yen 10,000 million mark.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 92.6 million, on 30 days normal terms.
REGISTRATION
Date Registered : Sept 1947
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
720,000 shares
Issued :
180,000 shares
Sum :
Yen 90 million
Major shareholders (%): Masatsugu Hika (9.33), Noboru Katayama (3.61),
Takahide Oyama, Tohru Araki,
Masahiko Tsukamoto (each 3.44)
No. of shareholders : 112
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: A trading firm for import, export and wholesale of
industrial chemicals, food additives,
others (100%).
(Products handled):
Environmental-related: ozonolysis agents, waste ozone disposal
facilities;
Surfactants for industries, such as: detergent, pulp/paper, textile
processing, leather processing, pharmaceuticals & cosmetics, agriculture,
food processing, pigments, paints & inks, adhesives, metals,
rubber/plastics, information, other;
Fine chemicals: ink-jet chemicals, photo-copying chemicals, plasticizer,
anti-oxidants, ultraviolet absorbent, antistatic agents, stabilizers,
adhesives, corrosive proof agents, antiseptics, fungicides, antibacterial
agents, flame retarders, enzymes, organic dyes, other;
Synthetic resins for application to: molding, impregnation, coating,
packing, adhesives, civil engineering works, paintings, textile processing,
silicon resins, films, others;
Textile processing chemicals: fabric softeners, polishing/cleaning
agents, coloring agents, antistatic agents, soft finishing agents, flame
retarding agents, anti corrosives, coatings, packing agents, others;
Pharmaceuticals/cosmetics: raw materials & intermediates,
surfactants, glycerin, PG, PEG, fragrant materials, micro filters, others:
Inorganic chemicals: caustic soda, soda ashes, bicarbonate soda,
phosphate, silicate, nitrate salt, hydrogen peroxide, sodium percarbonate,
sulfuric acids, calcium hydroxide, other;
Dyestuffs/pigments/intermediates: fluorescent bleaching agents (for use
in textiles, detergents, paper processing, plastics, etc), dyestuffs (for
textile, paper, leather & plastics), pigments, intermediates, others;
Oil & fats/waxes/solvents: vegetable oils, animal oils, mineral
oils, alcohols, glycerin, solid paraffin, waxes, poly-ethylene waxes, solvents,
others;
Food additives: glucose, fluctose, sorbit, CMC, PG, fragrance,
surfactants, organic acids, phosphate, other;
Others: Oxidants, reducing agents, detergents, dry-cleaning chemicals,
semi-conductor-related chemicals, other.
Countries for imports/exports: China, Taiwan, Hong Kong, Korea,
Malaysia, Singapore, Bangladesh, Philippines, India, Vietnam, UK, Germany,
Italy, Switz, France, Austria, Netherlands, Norway, Spain Poland, Czech,
Turkey, Australia, New Zealand, USA, other.
Clients: [Mfrs, wholesalers] Konica Minolta Holdings, Yokohama Oil &
Fats Ind, Panahome Corp, Nippon Paper
Ind, Tokyo Printing Ink Mfg, ST Chemical, Palace Chemical, Chirika Co, Daiichi
Kogyo Seiyaku, other. Goods are also
exported.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Itochu Corp, BASF Japan, Clariant Japan,
Konica Minolta Holdings, Miyoshi Oil
& Fat, Daiichi Kogyo Seiyaku, Chirika Co, Sanyo Chemical Ind, other.
Goods are also imported.
Payment record
Regular
Location
Business area in
Bank References
Bank of
MUFG (Kyoto-Chuo)
Relations: Satisfactory
FINANCES: (In Million
Yen)
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Terms Ending: |
31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual Sales |
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10,000
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9,987
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9,769
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9,163
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Recur. Profit |
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62 |
61 |
54 |
52 |
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Net Profit |
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38 |
38 |
34 |
32 |
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Total Assets |
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4,253
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4,234
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4,278
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Current Assets |
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3,877
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3,846
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3,665
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Current Liabs |
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3,122
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3,153
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3,039
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Net Worth |
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520 |
488 |
461 |
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Capital, Paid-Up |
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90 |
90 |
90 |
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Div.P.Share(¥) |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.13 |
2.23 |
6.61 |
2.14 |
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Current Ratio |
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124.18
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121.98
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120.60
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N.Worth Ratio |
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12.23
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11.53
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10.78
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R.Profit/Sales |
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0.62 |
0.61 |
0.55 |
0.57 |
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N.Profit/Sales |
0.38 |
0.38 |
0.35 |
0.35 |
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Return On Equity |
.. |
7.31 |
6.97 |
6.94 |
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Notes: Forecast (or estimated) figures for 31/12/2007 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. |
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%)