MIRA
INFORM REPORT
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Report Date : |
23.07.2007 |
IDENTIFICATION
DETAILS
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Name : |
MITSUI & CO LTD |
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Registered Office : |
Mitsui Bussan Bldg, |
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Country : |
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Financial (as on) : |
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Date of Incorporation : |
July, 1947 |
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Legal Form : |
Limited Company |
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Line of Business : |
A general trading house. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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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 28332.4 million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME
MITSUI & CO LTD
Regd Name
Mitsui Bussan KK
Main Office
Mitsui Bussan Bldg,
Phone : 03-3285-1111
Fax : 03-3285-9800
URL : http://www.mitsui.co.jp/
E-mail: Not specified (All addressed through the above URL)
Operations
A general trading house (sales breakdown by divisions): ion ore, metals & machinery (15%), industrial machinery, automobiles, electronics & information (--20%), chemicals (11%), crude oil, LPG, petroleum products (--10%), clothing, upholstery, fabrics, textile raw materials (--17%), lumber, flooring, other construction materials, sporting goods, cereals, alcoholic beverages, other foodstuffs (--27%); Overseas trading 41%)
Branch(es)
Domestic (23), overseas (70)
Identification
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Incorporated |
Jul 1947 |
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Legal Status |
Limited Company (Kabushiki Kaisha) |
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Capital paid-up |
Yen 192,487,084,922 (Issued: 1,583,674,837 shares) |
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Chief Executive Officer |
SHOEI UTSUDA, PRES |
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Major shareholder(s) (%) |
Master Trust Bank of Japan (8.7), Japan Trustee Services Bank (8.2), Mitsui Life Ins (3.6), SMBC (3.5), Chuo Mitsui Trust & Banking (3.1), Mizuho Corporate Bank (3.0), Nippon Life Ins (2.2), Chase Manhattan Bank NA London SL Omnibus Acct (2.0), Mitsui Sumitomo Ins (1.9), Bank of Tokyo-Mitsubishi (1.9); foreign owners (22.6) |
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No. of shareholders |
109,722 |
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Listed on the Stock Exchange(s) of |
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Nothing detrimental is known as to the commercial morality of executives. |
SUMMARY
FINANCES FAIR A/SALES Yen
12,281,517 M
PAYMENTS REGULAR CAPITAL Yen
192,487 M
TREND STEADY WORTH Yen 963,278 M
STARTED 1947 EMPLOYS 39,283
Comment
MAX CREDIT LIMIT: YEN 28,332.4 MILLION (Revised downward from our previous report)
Note
Forecast (or estimated) figures for
Overview
The subject firm was established ^
The sales volume for Mar/2004 fiscal term amounted to Yen 12,281,517 million, a 7% fall from Yen 13,236,683 million in the previous term. This is referred to accounting changes, including liquidation of unprofitable operations and subsidiaries. Meanwhile, the recurring profit nearly doubled to Yen 113,546 million from Yen 62,409 million a year earlier, which resulted in Yen 68,387 million net profit, more than doubled from Yen 31,138 million the previous year. This was attributed primarily to growing sales of chemicals, machinery and information products.
For the current term ending Mar 2005 the recurring profit is projected at Yen 105,000 million and net profit at Yen 75,000 million, respectively, on a 1.78% rise in turnover, to Yen 12,500,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 28,332.4 million, on normal terms.
Clients
(Wholesalers, retailers, mfrs) Nippon Steel,
No. of clients: 3,000 – 5,000
Area of activities
Nationwide
Suppliers
(Mfrs, wholesalers) Nippon Steel, Toshiba Corp,
Related companies
Toyo Officemation, other (domestic 314, overseas 409)
Bank References
SMBC (H/O), Bank of Tokyo-Mitsubishi, Mizuho Corporate Bank
Relations: Satisfactory
FINANCES
(In Million Yen)
FINANCES
(Consolidated in million yen) |
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Terms Ending: |
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INCOME
STATEMENT |
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Annual Sales |
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12,281,517 |
13,236,683 |
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Cost of Sales |
2,370,421 |
2,219,506 |
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GROSS PROFIT |
609,921 |
568,645 |
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Selling & Adm Costs |
496,375 |
472,096 |
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OPERATING PROFIT |
113,546 |
97,706 |
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Non-Operating P/L |
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RECURRING PROFIT |
113,546 |
62,409 |
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NET PROFIT |
68,387 |
31,138 |
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BALANCE
SHEET |
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Cash |
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638,294 |
660,216 |
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Receivables |
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1,706,850 |
1,589,379 |
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Inventory |
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513,016 |
488,672 |
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Securities, Marketable |
29,337 |
99,084 |
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Other Current Assets |
1,046,977 |
994,393 |
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TOTAL CURRENT ASSETS |
3,934,474 |
3,831,744 |
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Property & Equipment |
989,696 |
962,660 |
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Intangibles |
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113,126 |
71,179 |
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Investments, Other Fixed Assets |
1,678,732 |
1,674,937 |
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TOTAL ASSETS |
6,716,028 |
6,540,520 |
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Payables |
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1,467,516 |
1,417,472 |
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Short-Term Bank Loans |
646,746 |
495,299 |
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Other Current Liabs |
919,523 |
1,112,559 |
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TOTAL CURRENT LIABS |
3,033,785 |
3,025,330 |
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Debentures |
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Long-Term Bank Loans |
2,541,221 |
2,500,470 |
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Reserve for Retirement Allw |
52,296 |
53,148 |
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Other Debts |
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47,387 |
31,549 |
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TOTAL LIABILITIES |
5,674,689 |
5,610,497 |
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MINORITY INTERESTS |
78,061 |
67,986 |
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Common
stock |
192,487 |
192,487 |
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Additional
paid-in capital |
287,763 |
287,756 |
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Retained
earnings |
36,633 |
530,420 |
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Evaluation
p/l on investments/securities |
(101,464) |
(147,138) |
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Others |
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549,521 |
0 |
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Treasury
stock, at cost |
(1,662) |
(1,378) |
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TOTAL S/HOLDERS` EQUITY |
963,278 |
862,147 |
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TOTAL EQUITIES |
6,716,028 |
6,540,520 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
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Cash
Flows from Operating Activities |
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100,078 |
52,148 |
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Cash
Flows from Investment Activities |
-134,158 |
-4,243 |
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Cash
Flows from Financing Activities |
-12,248 |
17,824 |
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Cash,
Bank Deposits at the Term End |
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638,299 |
694,813 |
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ANALYTICAL RATIOS Terms ending: |
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Net
Worth (S/Holders' Equity) |
963,278 |
862,147 |
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Current
Ratio(%) |
129.69 |
126.66 |
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Net
Worth Ratio (%) |
14.34 |
13.18 |
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Recurring
Profit Ratio (%) |
0.92 |
0.47 |
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Net
Profit Ratio (%) |
0.56 |
0.24 |
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Return
On Equity (%) |
7.10 |
3.61 |
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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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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%)