MIRA
INFORM REPORT
|
Report Date : |
11.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ITOCHU KOREA LTD. |
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|
|
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Registered Office : |
21th Fl., Hanwha Financial Center Taepyeongno Bldg. 43, Taepyeongno 2-ga, Jung-gu, Seoul, 100-733 |
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Country : |
Korea |
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|
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
09.08.1994 |
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Com. Reg. No.: |
104-81-29161 |
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|
|
Legal Form : |
Company Limited by Shares |
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|
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Line of Business : |
Wholesale of Non-Specialized Goods, General Trading Service |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
Basic
|
Company
Name |
ITOCHU KOREA
LTD. |
|
Registered Address |
43, Taepyeongno 2-ga, Jung-gu, Seoul,
Korea |
|
Building |
21th Fl., Hanwha Financial Center Taepyeongno Bldg. |
|
Zip Code |
100-733 |
|
Tel |
+82-2-6366-2600 |
|
Fax |
+82-2-6366-2662 |
|
E-mail |
lee-cm@itochu-korea.co.kr;eum-sy@itochu-korea.co.kr;koryu@itochu-korea.co.kr |
|
Website |
www.itochu-korea.com |
|
Trading Address |
21th Fl., Hanwha Financial Center
Taepyeongno Bldg., 43, Taepyeongno 2-ga, Jung-gu, Seoul, Korea |
|
Tel |
+82-2-6366-2600 |
|
Fax |
+82-2-6366-2662 |
|
Type |
Export/Import |
|
Industry |
Wholesale of Non-Specialized Goods, General Trading Service |
|
Main Business |
Organic Compounds, Inorganic Compounds, Chemicals, Fabrics, Machine,
Food |
|
Sub Business |
Brokerage of a Variety of Goods |
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Established (mm/dd/yyyy) |
09/08/1994 |
The Subject
occupies the premises of registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Fabrics and leather materials(11160000) |
|
Sell |
Brokerage of a Variety of Goods |
CEO’s
|
Name |
Iwasaki Masahiro |
|
Address |
258, Hannam-dong ,Yongsan-gu, Seoul, Korea |
|
Date of Birth |
11/11/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Japanese |
Profiles
|
Capital |
7,570,000,000 KRW |
|
Employees |
44 |
|
Formation |
Co., Ltd by shares Foreign Direct Investment Corporation |
|
Bank Details |
Korea Exchange Bank-Samsung Center Branch Mitsubishi Tokyo UFJ Bank-Seoul Branch Mizho Corporate Bank-Seoul Branch Mishui Smitomo Bank-Seoul Branch |
|
Corporate Registered No. |
110111-1074121 |
|
Business Registered No. |
104-81-29161 |
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Permit & Licenses |
12/1997 ISO 14001 Int’l Trade No.: 11187721 |
|
Shareholder Position |
ITOCHU CORPORATION(Japan) has 100% shares. |
|
Company History |
09/08/1994 Incorporated as the present
name 09/24/1994 Registered as a Foreign Direct
Investment Corporation 11/18/1999 Increased capital to
7,570,000,000 KRW from 4,000,000,000 KRW 04/26/2003 Moved to the present HQ address
from 150, Taepyeongno 2-ga, Jung-gu, Seoul, Korea |
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|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Iwasaki Masahiro |
Male |
Japanese |
04/27/2007 |
|
Director |
Mr. |
Okata Tezuho |
Male |
Japanese |
06/12/2008 |
|
Director |
Mr. |
Huziyoka Yoshiyuki |
Male |
Japanese |
04/27/2007 |
|
Auditor |
Mr. |
Szuki Azushi |
Male |
Japanese |
06/12/2008 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
108,713,967,811 |
22,352,849,946 |
2,979,760,401 |
|
|
2006 |
124,173,828,249 |
24,602,940,442 |
2,803,577,276 |
|
2005 |
112,425,842,207 |
20,201,570,739 |
718,777,748 |
|
2004 |
108,217,194,315 |
21,674,345,467 |
2,140,917,824 |
|
2003 |
70,293,437,246 |
20,780,023,589 |
(-)4,342,600,298 |
Financial Description
Unit: KRW
|
Authorized
Capital |
16,000,000,000 |
|
Paid-Up
Capital |
7,570,000,000 |
|
Total Issues Shares |
1,514,000 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Total Assets |
22,352,849,946 |
24,602,940,442 |
20,201,570,739 |
|
Current Assets |
20,041,526,594 |
22,307,221,061 |
17,734,139,474 |
|
-Quick Assets |
15,926,149,560 |
21,297,823,626 |
15,211,759,063 |
|
-Inventories |
4,115,377,034 |
1,009,397,435 |
2,522,380,411 |
|
Fixed Assets |
2,311,323,352 |
2,295,719,381 |
2,467,431,265 |
|
-Investment |
892,879,000 |
864,521,000 |
2,333,103,301 |
|
-Tangibles |
21,493,167 |
58,898,714 |
116,562,311 |
|
-Intangibles |
2,147,521 |
8,491,293 |
17,765,653 |
|
-Others |
1,394,803,664 |
1,363,808,374 |
- |
|
Total Liabilities |
10,567,932,634 |
13,512,178,977 |
11,362,653,770 |
|
Current Liabilities |
10,111,063,880 |
13,224,285,118 |
11,126,353,422 |
|
Fixed Liabilities |
456,868,754 |
287,893,859 |
236,300,348 |
|
Capital Stock |
7,570,000,000 |
7,570,000,000 |
7,570,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
4,232,164,655 |
3,495,266,075 |
1,266,710,997 |
|
Capital Adjustment |
-17,247,343 |
25,495,390 |
2,205,972 |
|
Total Equity |
11,784,917,312 |
11,090,761,465 |
8,838,916,969 |
|
Liab. & Shareholder’s Equity |
22,352,849,946 |
24,602,940,442 |
20,201,570,739 |
|
Current
Liabilities |
10,111,063,880 |
13,224,285,118 |
11,126,353,422 |
|
Short-Term Borrowings |
250,000,000 |
1,371,550,776 |
2,232,973,000 |
|
Trade Payables |
8,526,665,769 |
9,727,685,645 |
7,804,502,824 |
|
Account Payables |
252,162,292 |
282,970,975 |
230,341,947 |
|
Advance Receipts |
550,000 |
19,046,000 |
30,084,000 |
|
Withholdings |
98,636,098 |
101,900,349 |
201,298,559 |
|
Accrued Expenses |
258,588,728 |
657,443,323 |
349,776,769 |
|
Accrued Income Tax |
652,085,930 |
1,063,688,050 |
194,061,410 |
|
Others |
72,375,063 |
- |
83,314,913 |
|
Fixed
Liabilities |
456,868,754 |
287,893,859 |
236,300,348 |
|
Provision for Severance &
retirement |
456,868,754 |
287,893,859 |
236,300,348 |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Sales |
108,713,967,811 |
124,173,828,249 |
112,425,842,207 |
|
Cost of Sold Goods |
97,367,031,993 |
112,386,782,329 |
102,041,239,231 |
|
Gross Profit |
11,346,935,818 |
11,787,045,920 |
10,384,602,976 |
|
Selling & Admin. Expenses |
7,420,389,700 |
8,069,458,464 |
8,001,887,457 |
|
Operating Income |
3,926,546,118 |
3,717,587,456 |
2,382,715,519 |
|
Non-Operating Income |
1,704,224,334 |
2,070,076,230 |
1,368,424,691 |
|
Non-Operating expenses |
1,431,405,616 |
1,735,036,391 |
3,358,483,723 |
|
Ordinary Income |
4,199,364,836 |
4,052,627,295 |
392,656,487 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
4,199,364,836 |
4,052,627,295 |
392,656,487 |
|
Income Taxes Expenses |
1,219,604,435 |
1,249,050,019 |
(-)326,121,261 |
|
Net Income |
2,979,760,401 |
2,803,577,276 |
718,777,748 |
Cash
Flows
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Cash Flows from Operating |
2,355,129,711 |
4,766,455,026 |
2,198,127,558 |
|
-Net Income |
2,979,760,401 |
2,803,577,276 |
718,777,748 |
|
-Exp. without Cash Outflow |
429,165,586 |
401,089,718 |
2,855,340,569 |
|
-Revenue
without Cash Inflows |
(-)337,701,634 |
(-)450,493,082 |
(-)335,349,854 |
|
-Changes in
Asset/ & Liability |
(-)716,094,642 |
2,012,281,114 |
(-)1,040,640,905 |
|
Cash Flows
from Investing |
53,405,213 |
720,592,114 |
389,055,776 |
|
-Cash Inflow
from Investing |
415,883,978 |
802,122,636 |
780,674,328 |
|
-Cash
Outflows for Investing |
(-)362,478,765 |
(-)81,530,522 |
(-)391,618,552 |
|
Cash Flows
from Financing |
(-)3,364,412,597 |
(-)1,450,608,458 |
(-)2,351,692,383 |
|
-Cash
Inflows from Financing |
9,331,402,590 |
7,021,550,776 |
33,240,389,989 |
|
-Cash
Outflows from Financing |
(-)12,695,815,187 |
(-)8,472,159,234 |
(-)35,592,082,372 |
|
Increase/Decrease
in Cash |
(-)955,877,673 |
4,036,438,682 |
235,490,951 |
|
Cash at the
Beginning of Year |
5,375,690,674 |
1,339,251,992 |
1,103,761,041 |
|
Cash at the End of Year |
4,419,813,001 |
5,375,690,674 |
1,339,251,992 |
Products, Technologies, Services
Description
|
Main
Products & Services |
General Trading Service -Textiles -Machinery -Energy -Chemicals -Merchandises -Foods |
Trade
Partners
|
Major Shareholders |
ITOCHU CORPORATION(Japan) |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO.,
LTD(110111-0005078) |
Sales by
Region (Activity &
Markets)
The Subject deals with the companies in China, India, Italy, Japan,
Turkey and USA.
Court
Action
No.
News
Clipping
--
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.44 |
|
UK Pound |
1 |
Rs.79.62 |
|
Euro |
1 |
Rs.63.48 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)