MIRA
INFORM REPORT
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Report Date : |
14.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
BASF JAPAN LTD |
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Registered Office : |
Nanbu Bldg, 3-3 Kioicho Chiyodaku Tokyo 102-8570 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
Oct 1949 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export of chemicals, plastics
& fiber, colorants, health foods |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 557.5 millions |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
BASF JAPAN LTD
REGD NAME
BASF Japan KK
MAIN OFFICE
Nanbu Bldg, 3-3 Kioicho Chiyodaku Tokyo 102-8570 JAPAN
Tel: 03-3238-2500
Fax: 03-3238-2514
URL: http://www.basf.japan.co.jp
E-mail: info@basf.japan.co.jp
ACTIVITIES
Import, export of chemicals, plastics & fiber,
colorants, health foods
BRANCHES
Osaka
FACTORY(IES)
Yokkaichi, Kashima
OFFICERS
TOMOYOSHI NARUO, PRES
S Regnatan, mgn dir
A Shimazaki, mgn dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 64,729 M
PAYMENTS REGULAR CAPITAL Yen 7,000 M
TREND STEADY WORTH Yen 8,954 M
STARTED 1949 EMPLOYES 480
COMMENT
TRADING HOUSE SPECIALIZING IN CHEMICALS & PLASTICS, WHOLLY
OWNED BY BASF AG. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 557.5 MILLION, 30 DAYS NORMAL
TERMS.
HIGHLIGHTS
The subject company was established as a marketing arm in Japan
by BASF AG. The firm specializes in
import and export of chemicals, plastics, performance products (coatings,
dispersion, pigment & specialty chemicals) agricultural products &
nutrition. The BASF of Japan group
consists of 7 companies: BASF Coatings Japan Ltd, BASF Agro Ltd, BASF INOAC
Polyurethane Ltd, BASF Idemitsu Ltd, Nisso BASF Agro Co Ltd, BASF Pozzolith
Ltd, Engelhard Metals Japan Ltd. In
2006, purchased Engelhard Japan to make it as Engelhard Metals Japan Ltd.
FINANCIAL INFORMATION
The sales volume for Dec/2006 fiscal term amounted to Yen 64,729 million, a 16% up from Yen 55,956 million in the previous term. Materials price hikes contributed. Also weaker Yen assisted. The recurring profit was posted at Yen 3,215 million, compared with Yen 2,680 million a year ago. On the other hand, the operations continued in the red to register Yen 398 million net losses for the term, although the loss amount narrowed from Yen 1,841 million net losses a year ago. It booked Yen 3,892 million extraordinary loss, details not disclosed. The BASF group Japan turns around Yen 169,000 million as a group.
For the current term ending Dec 2007 the operations are
projected to come back to profitability but still limited to a minimum amount
post-taxes, on a similar turnover, at Yen 65,000 million.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 557.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct
1949
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 56
million shares
Issued: 14
million shares
Sum: Yen 7,000 million
Major shareholders (%): BASF AG
(100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and exports industrial chemicals, plastics,
other:
(Sales breakdown by divisions):
Plastics (16%): styrenics, engineering plastics, biodegradable plastics, foams, IPU, polyethylene, polyurethane;
Performance Products (34%): pigments & coatings, leather chemicals, functional polymers, specialty chemicals, paints, construction chemicals;
Chemicals (31%): organic intermediates, petrochemicals, inorganic chemicals, carbonyl iron powder, catamold, catalysis, electronic materials, intermediates for life science, inorganic specialty chemicals, ionic liquid;
Fine Chemicals (19%): human nutrition, Pharma solutions,
cosmetic ingredients, colorants, aroma chemicals, animal nutrition,
agricultural products.
Clients: Mfrs, wholesalers, traders, other (Details not
disclosed).
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Supplied from BASF and its
group firms.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Mizuho Bank (Akasaka-Mitsuke)
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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65,000 |
64,729 |
55,956 |
55,000 |
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Recur. Profit |
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3,215 |
2,680 |
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Net Profit |
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0 |
-398 |
-1,841 |
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Total Assets |
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60,896 |
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Current Assets |
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24,503 |
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Current Liabs |
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50,756 |
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Net Worth |
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8,954 |
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Capital, Paid-Up |
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7,000 |
7,000 |
7,000 |
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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 |
0.42 |
15.68 |
1.74 |
-1.79 |
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Current Ratio |
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.. |
48.28 |
.. |
.. |
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N.Worth Ratio |
.. |
14.70 |
.. |
.. |
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R.Profit/Sales |
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.. |
4.97 |
4.79 |
.. |
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N.Profit/Sales |
0.00 |
-0.61 |
-3.29 |
0.00 |
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Return On Equity |
.. |
-4.44 |
.. |
.. |
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Notes: Forecast (or estimated) for the 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%)