MIRA
INFORM REPORT
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Report Date : |
24.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
BUSSAN BIOTECH CO LTD |
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Registered Office : |
Shiba Nichome Daimon Bldg, 2-3-3 Shiba Minatoku
Tokyo 105-8181 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
April, 1995 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Feed Additives,
Pharmaceutical Intermediates |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 58.9 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
Name
BUSSAN BIOTECH CO
LTD
REGD NAME
Bussan Biotech KK
MAIN OFFICE
Shiba Nichome Daimon Bldg, 2-3-3 Shiba Minatoku Tokyo 105-8181 JAPAN
Tel: 03-5418-8181 Fax:
03-5418-8165
URL: http://www.mitsui.co.jp/ (Of the parent, Mitsui
& Co)
E-Mail address: (thru
URL)
ACTIVITIES
Import, wholesale of feed additives, pharmaceutical
intermediates
BRANCHES
Nil
OFFICER(S)
TSUGUO SAKAI, PRES
Yoshimasa Kawamura, mgn/dir
Masao Kitamura, mgn dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,149 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND STEADY WORTH Yen 589 M
STARTED 1995 EMPLOYES 28
COMMENT
TRADING FIRM SPECIALIZING IN FEED ADDITIVES & PHARMACEUTICAL IMTERMEDIATES, AFFILIATED TO MITSUI & CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 58.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a material division separated from Mitsui & Co Ltd. A trading firm specializing in import, export and wholesale of feed additives & pharmaceutical intermediates. Imports are centrally from USA. Clients include chemical firms, farmers, other, nationwide.
FINANCIAL INFORMATION
The
sales volume for Mar/2007 fiscal term amounted to Yen 3,149 million, a shade up
from Yen 3,140 million in the previous term.
The net profit was posted at Yen 150 million, down from Yen 180 million
a year ago. This is referred to rising
material prices and operation expenses.
For
the term that ended Mar/2008 the net profit was projected at Yen 160 million,
on a 7% rise in turnover, to Yen 3,370 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 58.9 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Apr 1995
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
2,000 shares
Issued:
2,000 shares
Sum: Yen 100 million
Major
shareholders (%): Mitsui & Co*(75), Maruzen Yakuhin Corp (5), Sun Daicoo
(5), Morikubo Yakuhin (5), other
No. of
shareholders: 5
* Leading general trading house vying with Mitsubishi Corp
for top position, Tokyo, founded 1947, listed Tokyo, Osaka, Fukuoka, Sapporo,
NASDAQ, capital Yen 337,544 million, turnover Yen 17,009,056 million, operating
profit yen 374,828 million, recurring profit Yen 402,004 million, net profit
Yen 410,061 million, total assets Yen 9,690,879 million, net worth Yen
2,183,660, employees 42,621, pres Shoei Utsuda
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports, exports and wholesales feed additives, pharmaceutical
intermediates, others (--100%).
Clients
[Pharmaceutical makers, farm
coops] Maruzen Yakuhin Corp, Sun Daico, Nutritec Co, Morikubo Yakuhin, Marubeni
Nisshin Feed, Nippon Formula Feed Mfg, Everlth Agrotech, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Mitsui & Co, Ortek Corp, Nutritec
Co, Nichiku Yakuhin Cogyo Mfg, other.
Payment
record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References
SMBC (Hamamatsucho)
MUFG (Tamachi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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3,370 |
3,149 |
3,140 |
2,513 |
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Recur.
Profit |
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Net
Profit |
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160 |
150 |
180 |
121 |
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Total
Assets |
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1,653 |
1,403 |
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Current
Assets |
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1,618 |
1,374 |
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Current
Liabs |
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1,149 |
962 |
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Net
Worth |
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469 |
413 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.02 |
0.29 |
24.95 |
23.73 |
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Current Ratio |
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.. |
140.82 |
142.83 |
.. |
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N.Worth Ratio |
.. |
28.37 |
29.44 |
.. |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
4.75 |
4.76 |
5.73 |
4.81 |
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Return On Equity |
.. |
31.98 |
43.58 |
.. |
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Notes: Financials are disclosed in digested form only..
Forecast (or estimated) figures for the 31/03/2008 fiscal
term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 41.96 |
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UK Pound |
1 |
Rs.83.78 |
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Euro |
1 |
Rs.65.82 |
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%)