MIRA INFORM REPORT
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Report Date : |
20.04.2011 |
IDENTIFICATION DETAILS
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Name : |
MITSUI BUSSAN METALS CO LTD |
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Registered Office : |
Yaesu First Financing Bldg 19/20F, 1-3-7 Yaesu Chuoku Tokyo 103-0028 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
June
1987 |
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Com. Reg. No.: |
(Tokyo-Chuoku)
030448 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale of iron making raw materials,
steel & non-ferrous Products & scraps |
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 4,691.7 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
--- |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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Japan |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
MITSUI BUSSAN METALS CO LTD
REGD NAME
Mitsui Bussan
Metals KK
MAIN OFFICE
Yaesu First
Financing Bldg 19/20F, 1-3-7 Yaesu Chuoku Tokyo 103-0028 JAPAN
Tel:
03-5202-3200 Fax: 03-5202-1071
E-mail: (thru the URL)
ACTIVITIES
Import,
export, wholesale of iron making raw materials, steel & non-ferrous
Products & scraps
BRANCHES
Osaka,
Nagoya, Sapporo, Sendai, Yamaguchi, Fukuoka, other (Tot11)
OFFICER(S)
MASAO IRIE,
PRES Seiichi Sato, v pres
Mamoru
Ishida, dir Shoji
Matsumoto, dir
Katsumasa
Irie, dir Takaki
Terada, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 227,343 M
PAYMENTS REGULAR CAPITAL Yen 1,500 M
TREND SLOW WORTH Yen
15,365 M
STARTED 1987 EMPLOYES 323
COMMENT
TRADING FIRM SPECIALIZING IN IRON/STEEL PRODUCTS, WHOLLY
OWNED BY MITSUI & CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS
MAX CREDIT
LIMIT: YEN 4,691.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a section separated
from iron & steel division of Mitsui & Co Ltd (See REGISTRATION). In Apr 2008 merged two sister firms, Mitsui
Bussan Raw Materials Development Corporation and Mitsui Bussan Metals Sales Co
Ltd and expanded business into non-ferrous and steel raw materials. This is a trading firm specializing in
import, export and wholesale of: steel scraps, ferro-alloys, raw materials for
iron making, nonferrous metal products, iron ore, coking coal, other (See OPERATION). Clients include steel mills, metals
industries, other, nationwide.
FINANCIAL
INFORMATION
Financials are consolidated by the parent, Mitsui & Co Ltd, and disclosed
only in digested forms.
The sales volume for Mar/2010 fiscal term amounted to Yen 227,343
million, a 52% down from Yen 470,978 million in the previous term, as
substantially affected by the global economic downturn. Demand from steel mills declined
substantially. Exports were hurt by the
strong yen. The recurring profit was
posted at Yen 2,542 million and the net profit at yen 1,362 million,
respectively, compared with Yen 1,195 million recurring profit and Yen 742
million net profit, respectively, a year ago.
.
For the term that just ended Mar 2011 the recurring profit was projected
at Yen 2,700 million and the net profit at Yen 1,500 million, respectively, on
a 10% rise in turnover, to Yen 250,000 million.
Metal resources, including iron ore, drove recovery of business results
on the strength of high market prices.
Sales in Asia grew. Final results
are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 4,691.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1987
Regd No.: (Tokyo-Chuoku)
030448
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 68,000
shares
Issued: 17,174
shares
Sum: Yen 1,500 million
Major shareholders (%):
Mitsui & Co Ltd* (100)
*.. Top-ranked general trading house, Tokyo, founded 1947, listed Tokyo,
Osaka, Nagoya, Fukuoka, Sapporo S/E’s, capital Yen 341,482 million, sales Yen
9,358,379 million, operating profit Yen 144,513 million, recurring profit Yen
126,040 million, net profit Yen 149,719 million, total assets Yen 8,368,984
million, net worth Yen 2,429,804 million, employees 41,462, pres Masami Iijima
Consolidated Financials are attached (See SUPPLEMENTS)
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Trading firm for
import, export and wholesale of: steel products/scraps, ferro-alloys, raw
materials for iron making, non-ferrous metal products/scraps, special steel scrap,
non-ferrous metal products (titanium products, copper, aluminum products,
aluminum secondary alloy), iron ore, coking coal and cokes petroleum cokes,
other raw materials, waste disposal machinery for steel can & aluminum can,
building materials, machinery for prevention of environmental pollution,
vehicle recycling, other (--100%)
Clients: [Mfrs,
wholesalers] Nippon Steel, Mitsui & Co, Sumitomo Metal Ind, Toyo
Seikan, Hyundai Steel Co, Nittetsu Shoji
Trading, Godo Steel Ltd, Mitsui & Co Europe, Fuji Light Metals, other
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui & Co, Asahi Seiren, Teck Coal Ltd, Sumitomo Light Metal
Ind, Nippon Steel, Fuji Light Metal, Kestrel Coal Sales, German Creek Coal,
other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC
(H/O)
MUFG
(Ohdenmacho)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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250,000 |
227,343 |
470,978 |
397,628 |
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Recur.
Profit |
|
2,700 |
2,545 |
1,195 |
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Net
Profit |
|
1,500 |
1,362 |
742 |
2,767 |
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Total
Assets |
|
|
66,084 |
64,248 |
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Current
Assets |
|
|
63,633 |
62,463 |
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Current
Liabs |
|
|
50,261 |
49,149 |
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Net
Worth |
|
|
15,365 |
14,577 |
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Capital,
Paid-Up |
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|
1,500 |
1,500 |
1,500 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
9.97 |
-51.73 |
18.45 |
52.26 |
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Current Ratio |
.. |
126.61 |
127.09 |
.. |
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N.Worth Ratio |
.. |
23.25 |
22.69 |
.. |
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R.Profit/Sales |
1.08 |
1.12 |
0.25 |
.. |
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N.Profit/Sales |
0.60 |
0.60 |
0.16 |
0.70 |
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Return On Equity |
.. |
8.86 |
5.09 |
.. |
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Notes:
Financials are disclosed only in digested forms.
Forecast
(or estimated) figures for the 31/03/2011 fiscal term.
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF THE PARENT,
MITSUI & CO LTD
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2010 |
31/03/2009 |
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INCOME STATEMENT |
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Annual Sales |
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9,358,379 |
13,125,144 |
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Cost of Sales |
8,656,418 |
12,125,780 |
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GROSS PROFIT |
701,961 |
999,264 |
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Selling & Adm Costs |
557,448 |
616,777 |
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OPERATING PROFIT |
144,513 |
382,487 |
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Non-Operating P/L |
-18,473 |
-140,309 |
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RECURRING PROFIT |
126,040 |
242,178 |
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NET PROFIT |
149,719 |
177,607 |
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BALANCE SHEET |
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Cash |
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1,401,399 |
1,147,809 |
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Receivables |
1,382,259 |
1,412,022 |
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Inventory |
504,847 |
592,530 |
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Securities, Marketable |
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Other Current Assets |
972,585 |
1,266,776 |
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TOTAL CURRENT ASSETS |
4,261,090 |
4,419,137 |
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Property & Equipment |
978,560 |
946,290 |
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Intangibles |
84,741 |
96,505 |
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Investments, Other Fixed Assets |
3,044,593 |
2,902,311 |
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TOTAL ASSETS |
8,368,984 |
8,364,243 |
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Payables |
1,307,980 |
1,292,520 |
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Short-Term Bank Loans |
320,480 |
373,197 |
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Other Current Liabs |
752,307 |
1,126,773 |
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TOTAL CURRENT LIABS |
2,380,767 |
2,792,490 |
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Debentures |
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Long-Term Bank Loans |
2,909,794 |
2,841,301 |
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Reserve for Retirement Allw |
33,927 |
33,814 |
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Other Debts |
|
614,790 |
585,792 |
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TOTAL LIABILITIES |
5,939,278 |
6,253,397 |
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MINORITY INTERESTS |
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Common
stock |
341,482 |
339,627 |
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Additional
paid-in capital |
428,848 |
434,188 |
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Retained
earnings |
1,671,945 |
1,535,007 |
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Evaluation
p/l on investments/securities |
123,891 |
44,263 |
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Others |
(130,039) |
(235,977) |
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Treasury
stock, at cost |
(6,321) |
(5,662) |
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TOTAL S/HOLDERS` EQUITY |
2,429,806 |
2,111,446 |
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TOTAL EQUITIES |
8,368,984 |
8,364,243 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2010 |
31/03/2009 |
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Cash
Flows from Operating Activities |
|
632,360 |
582,666 |
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Cash Flows
from Investment Activities |
-180,093 |
-290,892 |
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Cash
Flows from Financing Activities |
-214,445 |
-9,774 |
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Cash,
Bank Deposits at the Term End |
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1,401,399 |
1,147,809 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2010 |
31/03/2009 |
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Net
Worth (S/Holders' Equity) |
2,429,806 |
2,111,446 |
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Current
Ratio (%) |
178.98 |
158.25 |
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Net
Worth Ratio (%) |
29.03 |
25.24 |
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Recurring
Profit Ratio (%) |
1.35 |
1.85 |
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Net Profit
Ratio (%) |
1.60 |
1.35 |
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Return
On Equity (%) |
6.16 |
8.41 |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.68 |
|
UK Pound |
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.53 |
RATING EXPLANATIONS
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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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.