MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MITSUYA BOEKI LTD |
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Registered Office : |
Yamaguchi Kosan Sakaisuji Bldg, 2-2-7 Kyutaromachi Chuoku Osaka
541-0056 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
August 1985 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Industrial Chemicals, Pharmaceuticals,
Health Foods |
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 103.4 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
MITSUYA BOEKI LTD
REGD NAME: Mitsuya Boeki KK
MAIN OFFICE: Yamaguchi Kosan Sakaisuji Bldg, 2-2-7
Kyutaromachi Chuoku Osaka 541-0056
JAPAN
Tel:
06-6260-4581 Fax: 06-6260-4575
URL: http://www.mitsuya-boeki.co.jp
E-Mail address:info@mitsuya-boeki.co.jp
ACTIVITIES
Import, export, wholesale of industrial chemicals, pharmaceuticals,
health foods
BRANCHES
Teheran; Mitsuya Boeki (USA) Inc (subsidiary)
OFFICERS
YASUO TAKAHASHI, PRES
Kiyoshi Nishimura, s/mgn dir
Koji Hirata, mgn dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 8,305 M
PAYMENTS REGULAR CAPITAL Yen 52 M
TREND STEADY WORTH Yen 273 M
STARTED 1985 EMPLOYES 40
COMMENT
TRADING HOUSE
SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 103.4 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Yasuo Takahashi jointly with three other entrepreneurs (all on the board and shareholders). Originally started importing pharmaceutical raw materials & intermediates from Australia, India and China, the core of its operations. Today, the firm has diversified handling products to include: pigments, paints, other industrial chemicals, pharmaceutical intermediates, food additives, health foods, cosmetics & toiletries. Main market base is USA, where the firm operates a subsidiary, Mitsuya Boeki (USA) Inc. Imports of raw materials for pharmaceuticals continue growing from India & China. Operations are also diversified into advanced areas, such as fuel cells, nano powder (fine), etc. Goods are actively exported to USA, Mid/South America, India, Europe, Africa, Mid/Near East, China, other S/E Asia.
FINANCIAL INFORMATION
The sales volume for Mar/2008 fiscal term amounted to Yen 8,305 million, a 5% hike from Yen 7,916 million in the previous term. Exports rose on the back of robust demand for industrial chemicals particularly in China & other S/E Asian countries. Hike in material prices also contributed. The recurring profit was posted at Yen 184 million and the net profit at Yen 73 million, respectively, compared with Yen 153 million recurring profit and Yen 67 million net profit, respectively, a year ago.
For the current term ending Mar 2009 the recurring profit is projected at Yen 185 million and the net profit at Yen 75 million, respectively, on a 2% rise in turnover, to Yen 8,500 million. Exports and imports will continue to increase. Higher Yen may slow down sales in Yen terms.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 103.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug 1985
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 4,000 shares
Issued: 1,040 shares
Sum: Yen 52 million
Major shareholders (%)
Yasuo Takahashi (45), Kiyoshi Nishimura (28), Koji Hirata (20), Kikuo Nakamichi (10), Takako Hirata (9)
No. of shareholders: 8
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports and wholesales industrial chemicals: cosmetics/toiletries, electronics materials, food additives, glass materials, pharmaceuticals materials & intermediates, textiles, pulp & paper, plastics, toothpaste, detergent, agricultural chemicals, construction materials, fuel cells, machine components, others (--100%).
Pharmaceuticals intermediates are mainly imported from China and India.
Goods are widely exported to: USA, Mid/South America, India, China, UK, Germany, Africa, Mexico, Taiwan, other S/E Asian countries, etc.
Clients
[Mfrs, wholesalers] Exports to USA, Australia, India, China, Europe, Mid/South America, Mid/Near East, S/E Asia, other.
Domestic clients include: Japan Organic Chemical Ind, Japan General, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Tosoh Corp, Shin-Etsu Chemical, Otsuka Chemical, Ube Ind, Nippon Shokubai, Stella Chemifa, Daicel Chemical, Nippon Paper Chemical, Japan Carbide, other. Also imports from India, China, Australia, other.
Payment record
Regular
Location
Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Semba)
SMBC (Namba)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2009 |
31/03/2008 |
31/03/2007 |
31/03/2006 |
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Annual
Sales |
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8,500 |
8,305 |
7,916 |
7,018 |
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Recur.
Profit |
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185 |
184 |
153 |
131 |
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Net
Profit |
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75 |
73 |
67 |
23 |
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Total
Assets |
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1,660 |
1,627 |
1,215 |
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Current
Assets |
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1,445 |
1,436 |
1,042 |
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Current
Liabs |
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983 |
991 |
904 |
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Net
Worth |
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273 |
204 |
137 |
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Capital,
Paid-Up |
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52 |
52 |
52 |
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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 |
2.35 |
4.91 |
12.80 |
12.23 |
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Current Ratio |
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.. |
147.00 |
144.90 |
115.27 |
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N.Worth Ratio |
.. |
16.45 |
12.54 |
11.28 |
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R.Profit/Sales |
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2.18 |
2.22 |
1.93 |
1.87 |
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N.Profit/Sales |
0.88 |
0.88 |
0.85 |
0.33 |
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Return On Equity |
.. |
26.74 |
32.84 |
16.79 |
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Note: Forecast (or estimated) for the 31/03/2009 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.42.47 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.66.14 |
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%)