MIRA
INFORM REPORT
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Report Date : |
19.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
YAMAMOTO TRADING CO LTD |
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Registered Office : |
1-14-1 Minamisemba Chuoku Osaka 542-0081 |
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Country : |
Japan |
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Date of Incorporation : |
Dec 1953 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Imports, export, wholesale of
dyestuffs, pigments, other 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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
YAMAMOTO TRADING CO LTD
REGD NAME
Yamamoto Tsuusan KK
MAIN OFFICE
1-14-1 Minamisemba Chuoku Osaka 542-0081 JAPAN
Tel : 06-6252-2131
Fax : 06-6252-2020
URL : http://www.ytc-j.co.jp/
E-Mail address: nimura@ytc-j.co.jp
ACTIVITIES
Imports, export, wholesale of dyestuffs, pigments, other
industrial chemicals
BRANCHES
Osaka, Tokyo, Nagoya
OVERSEAS
Yamamoto Trading (Thailand) Ltd (subsidiary)
OFFICER(S)
Yozo Yamamoto, ch YOSHINOSUKE
ISHIKAWA, PRES
Hironori Yagi, mgn dir Shinji
Shirako, mgn dir
Goro Sasaki, dir Kozo
Ono, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 16,625 M
PAYMENTS REGULAR CAPITAL Yen 74 M*
TREND STEADY WORTH Yen 774 M
STARTED 1953 EMPLOYES 67
*.. Capital increased to Yen 96.5 million on 04/01/2007.
COMMENT
TRADING HOUSE SPECIALIZING IN DEYSTUFFS, PIGMENTS AND OTHER
INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Sakuzo Yamamoto in Osaka for selling dyestuffs to textile industry, on his account, on conclusion of sales agency agreement with Hoechst Japan. Incorporated in 1953, diversified into marketing pigments & specialty chemicals in such non-textile fields as paints, printing inks, plastics & stationery. Yozo, now ch at the firm, is the founder’s son. Since then successively concluded sales agency agreements with BASF Japan (1959), Ciba-Geigy Japan (1961), ICI Japan (1962), Bayer Japan (1965), Merck Japan (1971), Dengussa Japan (1976), Eckart Werke (1980), Goldschmidt Japan (1982), Minolta Camera Sales for marketing measurement instruments (1988), American Chrome & Chemicals Inc, USA (1992), Zeneka Ltd, divided from ICI Japan (1993), Sterling Industrial Colours Ltd, UK (1993), Mettler-Toledo Ltd Japan (1994), Wacker Asahikasei Silicolle Co (1998), Dromont RSL (2000) and so on. In 1997, opened office in Thailand, Yamamoto Trading (Thailand) Co Ltd. Clients are in such industries as paints, printing inks, plastics, pigment preparation, other.
FINANCIAL INFORMATION
The sales volume for Dec/2005 fiscal term amounted to Yen 16,625 million, a 7% up from Yen 15,531 million in the previous term. Material price hikes contributed to the sales growth. Profits improved. The recurring profit was posted at Yen 252 million and the net profit at Yen 97 million, respectively, compared with Yen 168 million recurring profit and Yen 145 million net profit, respectively, a year ago.
For
the term ended Dec 2006 the recurring profit was projected and believed posted
at Yen 265 million and the net profit at Yen 100 million, respectively, on a 5%
rise in turnover, to Yen 17,500 million.
Final results are not yet available.
Business continues on the upswing.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Business
is on the upswing.
REGISTRATION
Date Registered: Dec
1953
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 598,000
shares
Issued: 149,500
shares
Sum: Yen
74.75 million*
*..Increased the capital to Yen 96.5 million on 04/01/2007 by investment of Yen 3.5 million from Osaka Small & Medium Business Investment & Consultation Co.
Major shareholders (%): Employees’ S/Holding Assn (9.52), Senka KK (7.36), Yozo
Yamamoto (6.69), Yoshinosuke Ishikawa (6.69), Masayo Yamamoto (6.52), Seiji Hayashi (6.09)
No. of shareholders: 49
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Trading house for import, export and wholesale of
industrial chemicals:
Structural breakdown of products: organic chemicals (30%), inorganic chemicals (20%), additives & biocides (30%), resins (5%), functional materials (5%), precision machines (10%);
Structure of markets in
sales: paints (50%), plastics (25%), printing inks (10%), oils & fats
(5%), stationery (5%), others (5%).
Clients: [Mfrs, wholesalers] Dainippon Ink & Chemicals, Kansai Paints, Brother Ind, Toyo Ink Mfg, Yushiro Chemical, Ind, Nippon Pigment, Nippon Paint, Nippon Pigment, Tokyo Paint, Showa Ink, other.
No. of accounts: 2,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Clariant Japan, BASF Japan, Ciba
Specialty Chemicals, Degussa Japan, Merck Ltd, Bayer Ag, Eckart Werke GmbH,
Wacker Chemie GmbH, Mettler-Toledo AG, Senka Corp, Titan Kogyo Co, Ferro Enamels
(Japan) Ltd, Minolta Co, Sinanen
Zeomic, Air Products, Iwasaki Electric, Nisshinbo Ind, Dromont SRL, other.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Semba)
Mizuho Bank (Minamisemba)
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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17,500 |
16,625 |
15,531 |
14,151 |
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Recur.
Profit |
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252 |
168 |
92 |
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Net
Profit |
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100 |
97 |
45 |
18 |
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Total
Assets |
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8,680 |
9,697 |
8,745 |
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Current
Assets |
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6,608 |
7,577 |
5,929 |
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Current
Liabs |
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5,738 |
7,016 |
6,135 |
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Net
Worth |
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774 |
516 |
378 |
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Capital,
Paid-Up |
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74 |
74 |
74 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.26 |
7.04 |
9.75 |
8.47 |
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Current Ratio |
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115.16 |
108.00 |
96.64 |
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N.Worth Ratio |
.. |
8.92 |
5.32 |
4.32 |
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R.Profit/Sales |
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.. |
1.52 |
1.08 |
0.65 |
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N.Profit/Sales |
0.57 |
0.58 |
0.29 |
0.13 |
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Return On Equity |
.. |
12.53 |
8.72 |
4.76 |
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Notes: Forecast (or estimated) figures 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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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%)