MIRA
INFORM REPORT
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Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
BASF POZZOLITH LTD |
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Registered Office : |
Halifax Bldg, 3-16-26 Roppongi Minatoku Tokyo 106-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
November 1960 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Chemical Admixtures for Concrete,
Construction Materials |
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 280.7 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
BASF POZZOLITH LTD
REGD NAME: BASF Pozzolith KK
MAIN OFFICE: Halifax Bldg, 3-16-26
Roppongi Minatoku Tokyo 106-0032 JAPAN
Tel:
03-3582-5155 Fax: 03-3582-5705
URL: http://www.basf-cc.co.jp/
E-Mail address: bes-polymers@basf.com
ACTIVITIES
Mfg of chemical admixtures for concrete, construction
materials
BRANCHES
Chigasaki, Sendai, Nagoya, Fukuoka, other (Tot 32)
FACTORY(IES)
Chigasaki (Kanagawa)
OFFICER(S)
TAKASHI HARUKI, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 14,817 M
PAYMENTS REGULAR CAPITAL Yen 4,510 M
TREND STEADY WORTH Yen 8,784 M
STARTED 1960 EMPLOYES 400
COMMENT
MFR OF CHEMICAL ADMIXTURES FOR CONCRETE & CONSTRUCTION
MATERIALS, WHOLLY OWNED BY BASF JAPAN LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 280.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was reorganized in Apr 2007 on the basis of a merger of three group firms: NMB Co Ltd, Pozzolith Bussan Co Ltd and BASF Construction System, with NMB Co Ltd as surviving company. This was formed in order to streamline group operations. The firm is wholly owned by BASF Japan Ltd (See REGISTRATION). Takashi Haruki took the office of presidency in Apr 2008, succeeding former president, Toshio Watanabe, who retired at the end of March 2008. This is a specialized mfr of chemical admixtures for concrete and construction materials. Tops in domestic market in the specific products.
FINANCIAL INFORMATION
The sales volume for Dec/2006 fiscal term amounted to Yen 14,817 million, a 2% up from Yen 14,304 million in the previous term. The net profit was posted at Yen 181 million, up from Yen 138 million a year ago.
For the term ended Dec 2007 the net profit was projected at Yen 300 million, on a 100% rise in turnover, to Yen 29,600 million. This is the effect of the merger. Final figures have yet been undisclosed.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 280.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 1960
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 90,200 shares
Issued: 90,200 shares
Sum: Yen 4,510 million
Major shareholders (%)
BASF Japan Ltd*(100)
* Mfr of industrial chemicals, BASF (Germany), founded 1940, capital Yen 7,000 million, turnover Yen 169,000 million, employees 480, pres Tomoyoshi Naruo
Nothing detrimental is known as to ^the commercial morality of executives.
OPERATION
Activities: Manufactures chemical admixtures for concrete & construction materials, such as high performance non-shrinkable grouts & materials, water-proofing systems, high performance flooring products, others (--100%).
Clients
[Mfrs, wholesalers] Taiheiyo Cement, Asano Concrete, Taiheiyo Materials, Shimizu Corp, Taisei Corp, Kajima Corp, Penta Ocean Construction, Mitsubishi Heavy Ind, other.
No. of accounts
1,000
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Showa Denko, Georgia Pacific, Nippon Paper, Nippon Soda Co, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Mizuho Corporate Bank (H/O)
MUFG (Roppongi)
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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15,000 |
14,304 |
14,000 |
14,000 |
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Recur.
Profit |
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225 |
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Net
Profit |
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150 |
138 |
130 |
135 |
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Total
Assets |
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33,751 |
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Current
Assets |
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9,791 |
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Current
Liabs |
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5,046 |
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Net
Worth |
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8,634 |
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Capital,
Paid-Up |
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4,510 |
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Div.P.Share(¥) |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.87 |
2.17 |
0.00 |
-9.68 |
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Current Ratio |
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194.03 |
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N.Worth Ratio |
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25.58 |
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.. |
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R.Profit/Sales |
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1.57 |
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.. |
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N.Profit/Sales |
1.00 |
0.96 |
0.93 |
0.96 |
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Return On Equity |
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1.60 |
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.. |
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Notes: Financials for the 31/12/2007 fiscal term has not fully disclosed.
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%)