MIRA
INFORM REPORT
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Report Date : |
29.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
OKAHATA SANGYO CO LTD |
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Registered Office : |
1-7-11 Minamisemba Chuoku Osaka 542-0081 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
June 1953 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Importer, Wholesaler of 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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Maximum Credit Limit : |
YEN 1,404.3 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
OKAHATA SANGYO CO LTD
REGD NAME: Okahata Sangyo KK
MAIN OFFICE: 1-7-11 Minamisemba
Chuoku Osaka 542-0081 JAPAN
Tel:
06-6262-0641 Fax: 06-6262-0838
E-Mail address: info@ohs.co.jp
ACTIVITIES
Import, wholesale of industrial chemicals
BRANCHES
Tokyo, Nagoya, Wakayama
OFFICER(S)
Koji Okahata, ch
HIROYUKI OKAHATA, PRES
Yoshimichi Kojima, mgn dir
Hajime Nakamura, dir
Toshihiko Sakata, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 45,542 M
PAYMENTS REGULAR CAPITAL Yen 96 M
TREND STEADY WORTH Yen 6,676 M
STARTED 1953 EMPLOYES 84
COMMENT
IMPORTER AND WHOLESALER OF INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 1,404.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established father of Koji Okahata, now ch, in order to make most of his experience in the subject line of business. This is a trading firm specializing in import, export and wholesale of synthetic resins, dyestuffs, light metals, other industrial chemicals. Chemicals for IT industries growing rapidly. Clients are major industrial chemicals makers nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 45,542 million, a 5% up from Yen 43,529 million in the previous term. Synthetic resins rose. Chemicals for IT industries also increased. Material price hikes also assisted. The recurring profit was posted at Yen 1,168 million and the net profit at Yen 707 million, respectively, compared with Yen 1,189 million recurring profit and Yen 706 million net profit, respectively, a year ago.
For the current term ending Mar 2008 the recurring profit is projected at Yen 1,170 million and the net profit at Yen 720 million, respectively, on a 5.4% rise in turnover, to Yen 48,000 million. Higher prices of chemicals are blowing as following wind to push sales upward.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,404.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1953
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 384,000
shares
Issued: 192,000
shares
Sum: Yen
96 million
Major shareholders (%)
Noboru Okahata (18), Hisako Okahata
(15), Koji Okahata (15)
No. of shareholders: 15
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, exports and wholesales synthetic resins
(43%), industrial chemicals (38%), surfactants
(12%), dyestuffs, pigments, intermediates, others (7%). Imports/exports (6%)
(Handling Items): organic & inorganic industrial chemicals, urethane raw materials, resins, resin reforming agents & additives, materials related to semiconductors, printed circuit boards and electric parts, environment related materials, synthetic resins, light metals, dyes & pigments, textile chemicals, injection molding machines, others.
Clients
[Chemical mfrs, wholesalers] Sanyo Chemical Ind, Mitsubishi Gas
Chemical, Dainippon Ink & Chemicals, Daiichi Kogyo Seiyaku, Hoyu Co, other.
No. of accounts
500
Domestic areas of activities
Nationwide
Suppliers
Mfrs, wholesalers] Sanyo Chemical Ind, Mitsubishi Chemical,
Daiichi Kogyo Chemical, Tosoh Corp, Nissan Chemical Ind, other.
Payment record
Regular
Location
Business
area in Osaka. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
MUFG (Namba)
Kiyo Bank (H/O)
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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48,000 |
45,542 |
43,529 |
38,823 |
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Recur.
Profit |
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1,170 |
1,168 |
1,189 |
908 |
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Net
Profit |
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720 |
707 |
706 |
509 |
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Total
Assets |
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17,910 |
17,779 |
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Current
Assets |
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16,060 |
15,931 |
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Current
Liabs |
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9,733 |
10,241 |
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Net
Worth |
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6,676 |
6,038 |
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Capital,
Paid-Up |
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96 |
96 |
96 |
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Div.P.Share(¥) |
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100.00 |
50.00 |
50.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.40 |
4.62 |
12.12 |
7.08 |
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Current Ratio |
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.. |
165.01 |
155.56 |
.. |
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N.Worth Ratio |
.. |
37.28 |
33.96 |
.. |
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R.Profit/Sales |
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2.44 |
2.56 |
2.73 |
2.34 |
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N.Profit/Sales |
1.50 |
1.55 |
1.62 |
1.31 |
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Return On Equity |
.. |
10.59 |
11.69 |
.. |
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Notes: Forecast (or estimated) figures for the 31/03/2008
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. |
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%)