MIRA
INFORM REPORT
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Report Date : |
9th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
NIHON
SIBERHEGNER KK |
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Registered Office : |
SiberHegner
Mita Bldg, 3-4-19 Mita Minatoku Tokyo 108-0073, Japan |
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Country : |
Japan |
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Financials (as on) : |
31.12.2006
(Estimated) |
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Date of Incorporation : |
September
1965 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
A general trading house of Swiss origin, with the following four
core business divisions (Sales breakdown by divisions): Ř
Specialty Raw Materials Div (50%) Ř
Technology Div (20%) Ř
Food & Ingredients Div (15%) Ř
Consumer Goods Div (15%) |
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 428.5 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company Name
NIHON
SIBERHEGNER KK
REGD NAME
Nihon
SiberHegner KK
MAIN OFFICE
SiberHegner
Mita Bldg, 3-4-19 Mita Minatoku Tokyo 108-0073JAPAN
Tel : 03-5441-4508
Fax : 03-5441-4588
URL :
http://www.nshkk.co.jp
E-Mail address : webnsh.tyo@dksh.com
ACTIVITIES
Import, export, wholesale of machines, foods, pharmaceuticals,
textiles, other
BRANCHES
Yokohama, Osaka, Nagoya, Sapporo, Fukuoka; Fukuroi (logistics
center)
OFFICERS
Joerg Wolle, ch WOLFGANS
SCHANZENBACH, PRES
Kurt Hefti, mgn dir Haruhiko
Hirata, mgn dir
Michio Watanabe, mgn dir Ken’ichi
Nagai, mgn dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 29,901 M
PAYMENTS REGULAR CAPITAL Yen 1,600 M
TREND STEADY WORTH Yen 3,680 M
STARTED 1965 EMPLOYES 295
COMMENT
TRADING HOUSE OF SWISS CAPITAL.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT
ENGAGEMENTS: EURO 10,000.00.
MAX CREDIT LIMIT: YEN 428.5 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
This an old-established trading firm of Swiss origin dating back
to 1865 when the firm of Siber & Brennwald entered the raw silk trade in
Yokohama. The firm built Japan’s first
gas plants for the first gas light in Yokohama & Ginza, Tokyo. Also, began importing watches and machinery from Switz. The firm was formally incorporated as caption
name in 1965 to commemorate its 100th anniversary in Japan. The firm is at the core of a group of about
13,000 employees in more than 30 countries.
The firm has since developed into a general trading house with handling
items expanded, ranging from industrial chemicals, industrial machinery to watches, textiles, healthcare and other
consumer goods. The firm has four main
divisions: Specialty & Life Science Chemicals Div; Technology Div; Consumer
Goods Div; and Food & Ingredients Div (details see OPERATION).
FINANCIAL INFORMATION
The sales volume for Dec/2005 fiscal term amounted to Yen 29,901
million, a 5% up from Yen 28,465 million in the previous term. While the consumer goods continued sluggish,
the industrial machinery and pharmaceuticals boosted on the back of strong
demand in China and other S/E Asian countries.
The profits, on the other hand, deteriorated due to rising costs of
materials and operation. The recurring
profit was posted at Yen 843 million, down 10% from Yen 935 million, and the
net profit at Yen 409 million, down 6% from Yen 435 million, respectively,
compared with last year.
For the term ended Dec 2006 the recurring profit was projected and
believed posted at Yen 850 million and the net profit at Yen 410 million,
respectively, on a 4% rise in turnover, to Yen 31,000 million. Final results are yet to be produced.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 428.5 million, on 30 days normal terms. The proposed amount is considered well
within the firm’s financial capabilities.
REGISTRATION
Date Registered : Sept 1965
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized : 160,000 shares
Issued :
160,000 shares
Sum :
Yen 1,600 million
Major shareholders (%): DKSH Holding Ltd (Zurich, Switz) (100)
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: A general trading house of Swiss origin, with the
following four core business divisions (Sales breakdown by divisions):
Specialty Raw Materials Div (50%):
pharmaceutical raw materials & intermediates, animal medicines & feed
additives, photo-chemicals, functional chemical products, organic &
inorganic chemical, catalysts & catalyst carriers, absorbents, metallic
salts, titanium semi-finished products & special steels, chemical fibers
& polymers, natural fibers
Technology Div (20%): machine tools,
plants & components, printing & paper converting machines, filling
systems for liquids, packaging & food processing installations, instruments
for construction & surveying industries, industrial tools & supplies,
analytical & laboratory instruments, metal products, IC & electronics,
technical services, etc.
Food & Ingredients Div (15%): food & confectionary
raw materials, fruit juice concentrate, canned fruits & vegetables, frozen
fruits & vegetables, fragrance raw materials, food additives, functional
food additives, food supplements, cosmetic ingredients, etc
Consumer Goods Div (15%): watches,
cameras, leather goods, writing equipment, stationery, smoking supplies,
painting tools, health-care goods, cameras & photo equipment & supplies
for professionals, other
Note: Sales breakdown percentages are all about, calculated by us
only.
Clients
[Food processors, mfrs, wholesalers] Merck Japan, Kagome, Morinaga
& Co, Morinaga Milk Ind, Dainippon Ink & Chemicals, Oji Paper, Toyo
Kasei Kogyo, DKSH group firms, Nichi-Iko Pharmaceuticals, other. Exports to S/E Asia.
No. of accounts
2,000
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Givaudan Japan, Leica Camera Japan, Darst
Photo Technique, Leitz (Germany), DKSH group firms, Merck KAGG, Daido Steel,
Toyo Kasei Kogyo, other.
Payment record
Regular
Location
Business area in Tokyo.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Mizuho Corporate Bank (Yokohama)
MUFJ (Yokohama)
Relations: Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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Annual
Sales |
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31,000
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29,901
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28,465
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24,652
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Recur.
Profit |
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850 |
843 |
935 |
593 |
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Net
Profit |
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410 |
409 |
435 |
217 |
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Total
Assets |
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16,757
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14,240
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13,264
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Current
Assets |
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13,821
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13,017
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12,122
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Current
Liabs |
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10,150
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8,581
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9,156
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Net
Worth |
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3,680
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3,503
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3,269
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Capital,
Paid-Up |
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1,600
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1,600
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1,600
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.68 |
5.04 |
15.47
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-10.54
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Current Ratio |
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.. |
136.17
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151.70
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132.39
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N.Worth Ratio |
.. |
21.96
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24.60
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24.65
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R.Profit/Sales |
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2.74 |
2.82 |
3.28 |
2.41 |
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N.Profit/Sales |
1.32 |
1.37 |
1.53 |
0.88 |
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Return On Equity |
.. |
11.11
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12.42
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6.64 |
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Note: Forecast (or
estimated) for the 31/12/2006 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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