MIRA
INFORM REPORT
|
Report Date : |
01.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MITSUI BUSSAN SOLVENT & COATING CO LTD |
|
|
|
|
Registered Office : |
Dai 10
Chuo Bldg, 1-5-6 Nihombashi-Honcho Chuoku Tokyo 103-0023 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Date of Incorporation : |
Mar 1991 |
|
|
|
|
Legal Form : |
Limited Company
(Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, export, wholesale of solvents, paints, coatings, resins
and adhesives |
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
347.4 millions |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name
MITSUI BUSSAN SOLVENT & COATING CO LTD
REGD NAME
Mitsui Bussan Solvent &
Coating KK
MAIN OFFICE
Dai 10 Chuo Bldg, 1-5-6
Nihombashi-Honcho Chuoku Tokyo 103-0023 JAPAN
Tel : 03-3516-1800
Fax : 03-3516-1847
URL : http://www.mitsui-solco.co.jp
E-Mail address: TKZC@TKZSC.xm.mitsui.co.jp
ACTIVITIES
Import, export,
wholesale of solvents, paints, coatings, resins, adhesives
BRANCHES
Osaka, Nagoya
OFFICERS
HIROYASU TAKAHASHI,
PRES
Yasutoshi Hirabe, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 68,249 M
PAYMENTS REGULAR CAPITAL Yen 340 M
TREND STEADY WORTH Yen
1,726 M
STARTED 1991 EMPLOYES 89
COMMENT
TRADING FIRM HANDLING SOLVENTS, COATINGS, RESINS, AND OTHER INDUSTRIAL CHEMICALS, WHOLLY OWNED BY MITSUI & CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 347.4 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established on the basis of a chemical division separated from Mitsui & Co Ltd, Tokyo. A trading firm handling solvents, coatings, resins, adhesives, and other industrial chemicals. In Jun 1999, merged a sister company, Mitsui Fuller Ltd, adding new products of adhesives. 25% of sales are imports & exports. Stressing operations in China and other S/E Asian countries, utilizing the parent’s overseas offices.
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 68,249 million, a 40% up from Yen 48,854 million in the previous term. The growth was thanks to steep rise in chemical materials costs, which boosted sales, both imports & exports. The net profit expanded to Yen 623 million from Yen 327 million a year ago.
For the current term ending Mar 2007 the net profit is projected at Yen 650 million, on a 5% rise in turnover, to Yen 71,500 million. Business continues rising.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 347.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Mar 1991
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 27,200 shares
Issued: 6,800 shares
Sum: Yen 340 million
Major shareholders (%): Mitsui
& Co Ltd*(100)
*.. Top-ranked general trading house vying with Mitsubishi Corp, founded 1947, listed Tokyo, Osaka, Nagoya, NASDAQ S/E’s, capital Yen 295,766 million, sales Yen 14,885,728 million, recurring profit Yen 253,182 million, net profit Yen 202,109 million, total assets Yen 8,573,578 million, net worth Yen 1,677,907 million, employees 40,993, pres Shoei Utsuda
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports and wholesales solvents (toluene/xylene, MEK, MIBK, IPA, methanol, butanol, acetic ether, butyl acetate, glycol ether, N-hexane, other); paints & coatings, resins, adhesives, other industrial chemicals (--100%).
Clients: [Chemical traders, wholesalers, chemical mfrs] Mitsui & Co, Moriroku Co, SK Kaken, Miyako Kosan Co, other.
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Chemical mfrs, wholesalers] Mitsui Chemical, Mitsui & Co, Kyowa Hakko Kogyo, SK Kaken, Daicel Chemical Ind, other.
Payment record:
Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
SMBC (H/O)
MUFJ (Shimbashi)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
|
|
Annual
Sales |
|
71,500
|
68,249
|
48,864
|
|
Recur.
Profit |
|
|
|
|
|
Net
Profit |
|
650 |
623 |
327 |
|
Total
Assets |
|
|
20,722
|
|
|
Current
Assets |
|
|
19,242
|
|
|
Current
Liabs |
|
|
18,510
|
|
|
Net
Worth |
|
|
1,726
|
|
|
Capital,
Paid-Up |
|
|
340 |
340 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.76 |
39.67
|
15.07
|
|
|
Current Ratio |
|
.. |
103.95
|
.. |
|
N.Worth Ratio |
.. |
8.33 |
.. |
|
|
R.Profit/Sales |
|
.. |
.. |
.. |
|
N.Profit/Sales |
0.91 |
0.91 |
0.67 |
|
|
Return On Equity |
.. |
36.10
|
.. |
|
Note: Forecast (or
estimated) for the 31/03/2007 fiscal term.
Financials are
released in digest statement for the 31/03/2006 fiscal term only.
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 |
|