MIRA
INFORM REPORT
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Report Date : |
06.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
DAIICHI YUUKI SANGYO CO LTD |
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Registered Office : |
K-Wing Bldg 7F, 5-2-1 Kojimachi Chiyodaku Tokyo 102-0083 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2007 |
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Date of Incorporation : |
February 1961 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export of Industrial Chemicals |
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 22.3 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
DAIICHI YUUKI
SANGYO CO LTD
REGD NAME: Daiichi Yuuki Sangyo KK
MAIN OFFICE: K-Wing Bldg 7F, 5-2-1 Kojimachi Chiyodaku
Tokyo 102-0083 JAPAN
Tel:
03-3234-5661 Fax: 03-3234-5666
URL: N/A
ACTIVITIES
Import, export of Industrial chemicals
BRANCHES
Osaka
OFFICER(S)
TOHRU YOSHIOKA, PRES
Masataka Ukai, dir
Daisuke Yoshioka, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,177 M
PAYMENTS REGULAR CAPITAL Yen 12 M
TREND SLOW WORTH Yen 185 M
STARTED 1961 EMPLOYES 11
COMMENT
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 22.3 MILLION,
30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject
company was established by Tohru Yoshioka in order to make most of his
experience in the subject line of business.
This is a trading firm specializing in industrial chemicals, mainstay
item being ethylene glycol, and other organic chemicals. Also handles synthetic resin materials. Goods are imported from China, Taiwan,
Korea, Europe, etc. Clients are
chemical mfrs, nationwide.
FINANCIAL INFORMATION
The sales volume
for Oct/2007 fiscal term amounted to Yen 2,177 million, a 22% fall from Yen
2,778 million in the previous term.
Some products suffered price downs, resulting in sharp decline in sales
amount, according to the firm. The
business is, however, seen steady with long-established clients. The net profit was posted at Yen 9 million,
compared with Yen 8 million a year ago.
For the current
term ending Oct 2009 the net profit is projected at Yen 10 million, on a 1%
rise in turnover, to Yen 2,200 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 22.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1961
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 24,000 shares
Sum: Yen 12 million
Major shareholders (%)
Tohru Yoshioka (80), Employees’ S/Holding Assn (20)
No. of shareholders: 11
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Trading firm for import, export and wholesale of industrial chemicals (centering in ethylene glycol), other organic chemicals, synthetic resin materials, others (--100%).
Goods are imported from China, Taiwan, Korea, Europe, etc.
Clients
[Mfrs, wholesalers] CCI, Sinco Science Corporation, Sanko Motor Chemical, Rika Shokai, Dainichi Chemical, Tayca Corp, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Maruzen Petrochemical Ind, Shin-Etsu Chemical Ind, Sumitomo Shoji Chemical, Nippon Nyukazai Co, Sun Agro Co, other.
Imports from China, Taiwan, Korea, Europe, other
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
SMBC (Kojimachi)
Resona Bank (Ichigaya)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/10/2008 |
31/10/2007 |
31/10/2006 |
31/10/2005 |
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Annual
Sales |
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2,200 |
2,177 |
2,778 |
2,593 |
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Recur.
Profit |
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16 |
18 |
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Net
Profit |
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10 |
9 |
8 |
10 |
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Total
Assets |
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1,402 |
1,701 |
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Current
Assets |
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1,059 |
1,412 |
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Current
Liabs |
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694 |
866 |
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Net
Worth |
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185 |
175 |
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Capital,
Paid-Up |
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12 |
12 |
12 |
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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 |
1.06 |
-21.63 |
7.13 |
0.58 |
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Current Ratio |
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.. |
152.59 |
163.05 |
.. |
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N.Worth Ratio |
.. |
13.20 |
10.29 |
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R.Profit/Sales |
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.. |
0.73 |
0.65 |
.. |
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N.Profit/Sales |
0.45 |
0.41 |
0.29 |
0.39 |
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Return On Equity |
.. |
4.86 |
4.57 |
.. |
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Notes: Forecast (or estimated) figures for the 31/10/2008 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.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
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%)