MIRA INFORM REPORT
|
Report Date : |
26.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
MITSUI & CO. KOREA LTD. |
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|
|
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Registered Office : |
1, Sogong-dong, Jung-gu, Seoul, Korea, 18th Fl., Lotte Shopping Center
Bldg., Zip Code 100-721 |
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|
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Country : |
South Korea |
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|
|
|
Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
30.11.1993 |
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Com. Reg. No.: |
220-81-03274 |
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|
|
|
Legal Form : |
Co., Ltd by shares |
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|
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Line of Business : |
Wholesale of Non-Specialized Goods |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
Litigation : |
Clear |
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) |
|
South korea
|
a1 |
a1s |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Basic
|
Company Name |
MITSUI & CO.
KOREA LTD. (Korean Company Name : “한국미쓰이물산(주)”) |
|
Registered Address |
1, Sogong-dong, Jung-gu, Seoul, Korea |
|
Building |
18th Fl., Lotte Shopping Center Bldg. |
|
Zip Code |
100-721 |
|
Tel |
+82-2-3420-0601 |
|
Fax |
+82-2-3420-0880~1 |
|
Website |
|
|
Trading Address |
18th Fl., Lotte Shopping Center Bldg., 1,
Sogong-dong, Jung-gu, Seoul, Korea |
|
Tel |
+82-2-3420-0601 |
|
Fax |
+82-2-3420-0880~1 |
|
Type |
Export/Import |
|
Industry |
Wholesale of Non-Specialized Goods |
|
Main Business |
Machine, Metal, Fiber, Alcoholic Beverage |
|
Established (mm/dd/yyyy) |
11/30/1993 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Food or drug additives(12164500) |
|
Sell |
Steel(11101704) |
|
Sell |
Yarns(11151700) |
|
Sell |
Distribution(80141700) |
CEO’s
|
Name |
Nagai Masanari |
|
Address |
743-12, Hannam-dong, Yongsan-gu, Seoul, Korea |
|
Date of Birth |
12/08/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Japanese |
Profiles
|
Capital (KRW) |
16,000,000,000 |
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|
Employees |
85 |
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Formation |
Co., Ltd by shares Foreign Direct Investment Corporation |
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Bank Details |
Mitsubishi Tokyo UFJ Bank |
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Corporate Registered No. |
110111-0989628 |
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Business Registered No. |
220-81-03274 |
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Permit & Licenses |
Int’l Trade No.: 11112936 |
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Shareholder Position |
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Company History |
11/30/1993 Incorporated as the present name 12/16/1993 Registered as Foreign Direct
Investment Corporation 02/20/1997 Increased the authorized shares
to 6,400,000 shares from 1,600,000 shares 02/22/1997 Increased capital to
16,000,000,000 KRW from 4,000,000,000 KRW |
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Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Nagai Masanari |
Male |
Japanese |
04/10/2009 |
|
Director |
Mr. |
Noda Kenzi |
Male |
Japanese |
09/28/2007 |
|
Director |
Mr. |
Hayashi Tomohumi |
Male |
Japanese |
05/04/2009 |
|
Director |
Mr. |
Suzuki Yasmata |
Male |
Japanese |
03/17/2010 |
|
Director |
Mr. |
Yasnaga Tazuho |
Male |
Japanese |
06/16/2010 |
|
Director |
Mr. |
Kobayashi Masaaki |
Male |
Japanese |
09/10/2010 |
|
Director |
Mr. |
Murakami Naruo |
Male |
Japanese |
03/16/2011 |
|
Auditor |
Mr. |
Mori Koziro |
Male |
Japanese |
05/17/2010 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
03/2010 |
61,732,130,910 |
75,030,670,469 |
4,187,566,841 |
|
03/2009 |
100,103,708,606 |
63,364,999,728 |
4,476,699,895 |
|
03/2008 |
191,038,902,427 |
64,562,091,265 |
3,572,993,396 |
|
03/2007 |
136,099,335,255 |
55,812,344,208 |
2,687,658,794 |
|
03/2006 |
156,081,234,175 |
49,229,370,284 |
3,653,977,393 |
Financial Description
|
Authorized Capital(KRW) |
64,000,000,000 |
|
Paid-Up Capital(KRW) |
16,000,000,000 |
|
Total Issues Shares |
1,600,000 |
Balance Sheet
|
Unit : Korean Won |
As of 03/31/2010 |
As of 03/31/2009 |
As of 03/31/2008 |
|
Total Assets |
75,030,670,469 |
63,364,999,728 |
64,562,091,265 |
|
Current Assets |
67,612,734,429 |
56,097,997,073 |
52,946,740,487 |
|
-Quick Assets |
66,157,531,215 |
55,026,691,057 |
50,359,855,642 |
|
-Inventories |
1,455,203,214 |
1,071,306,016 |
2,586,884,845 |
|
Fixed Assets |
7,417,936,040 |
7,267,002,655 |
11,615,350,778 |
|
-Investment |
4,013,266,926 |
4,076,625,266 |
4,497,924,246 |
|
-Tangibles |
1,776,917,728 |
2,036,691,050 |
1,466,295,871 |
|
-Intangibles |
1,627,751,386 |
1,153,686,339 |
5,651,130,661 |
|
Total Liabilities |
38,374,572,963 |
28,696,469,063 |
33,530,145,495 |
|
Current Liabilities |
32,281,970,130 |
24,769,408,700 |
31,927,977,103 |
|
Fixed Liabilities |
6,092,602,833 |
3,927,060,363 |
1,602,168,392 |
|
Capital Stock |
16,000,000,000 |
16,000,000,000 |
16,000,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
20,656,097,506 |
18,668,530,665 |
15,091,830,770 |
|
Capital Adjustment |
- |
- |
(-)59,885,000 |
|
Total Equity |
36,656,097,506 |
34,668,530,665 |
31,031,945,770 |
|
Liab. & Shareholder’s Equity |
75,030,670,469 |
63,364,999,728 |
64,562,091,265 |
|
Current
Liabilities |
32,281,970,130 |
24,769,408,700 |
31,927,977,103 |
|
Short-Term Borrowings |
1,670,000,000 |
- |
- |
|
Trade Payables |
27,913,134,056 |
17,849,155,250 |
27,206,652,427 |
|
Account Payables |
1,271,824,042 |
1,164,590,286 |
3,474,631,234 |
|
Withholdings |
13,582,779 |
12,421,993 |
11,387,484 |
|
Accrued Income Tax |
1,316,269,226 |
1,476,059,650 |
1,127,791,176 |
|
Advance Receipts |
60,610,150 |
846,380,016 |
91,751,140 |
|
Derivatives |
4,199,719 |
4,041,915 |
15,763,642 |
|
Current Portion of Deferred Income Tax
Credit |
32,350,158 |
103,759,590 |
- |
|
Guarantee Deposit Withhold |
- |
3,313,000,000 |
- |
|
Fixed
Liabilities |
6,092,602,833 |
3,927,060,363 |
1,602,168,392 |
|
Provision for Severance & Retirement |
2,347,091,124 |
1,920,675,436 |
1,607,970,792 |
|
Provision for Repairing |
252,975,259 |
242,848,477 |
- |
|
Provision for APA |
3,498,000,000 |
1,769,000,000 |
- |
Income Statement
|
Unit : Korean Won |
As of 03/31/2010 |
As of 03/31/2009 |
As of 03/31/2008 |
|
Sales |
61,732,130,910 |
100,103,708,606 |
191,038,902,427 |
|
Cost of Sold Goods |
38,511,871,885 |
76,586,170,431 |
173,171,855,972 |
|
Gross Profit |
23,220,259,025 |
23,517,538,175 |
17,867,046,455 |
|
Selling & Admin. Expenses |
15,483,886,160 |
15,888,502,980 |
13,193,025,533 |
|
Operating Income |
7,736,372,865 |
7,629,035,195 |
4,674,020,922 |
|
Non-Operating Income |
7,848,517,074 |
18,814,587,759 |
5,226,839,341 |
|
Non-Operating Expenses |
9,493,097,293 |
19,605,413,822 |
4,600,031,680 |
|
Ordinary Income |
6,091,792,646 |
6,838,209,132 |
5,300,828,583 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
6,091,792,646 |
6,838,209,132 |
5,300,828,583 |
|
Income Taxes Expenses |
1,904,225,805 |
2,361,509,237 |
1,727,835,187 |
|
Net Income |
4,187,566,841 |
4,476,699,895 |
3,572,993,396 |
Cash Flows
|
Unit : Korean Won |
As of 03/31/2010 |
As of 03/31/2009 |
As of 03/31/2008 |
|
Cash Flows from Operating |
3,377,525,009 |
4,405,723,510 |
6,206,428,420 |
|
-Net Income |
4,187,566,841 |
4,476,699,895 |
3,572,993,396 |
|
-Exp. without Cash Outflow |
940,947,112 |
952,099,932 |
498,765,244 |
|
-Revenue without Cash Inflows |
(-)58,030,696 |
(-)1,087,259,082 |
(-)35,043,307 |
|
-Changes in Asset/ & Liability |
(-)1,692,958,248 |
64,182,765 |
2,169,713,087 |
|
Cash Flows from Investing |
10,759,458,341 |
(-)5,462,673,047 |
257,542,400 |
|
-Cash Inflow from Investing |
39,351,901,550 |
6,816,982,453 |
519,113,820 |
|
-Cash Outflows for Investing |
(-)28,592,443,209 |
(-)12,279,655,500 |
(-)261,571,420 |
|
Cash Flows from Financing |
(-)530,000,000 |
(-)900,000,000 |
(-)800,000,000 |
|
-Cash Inflows from Financing |
1,670,000,000 |
- |
- |
|
-Cash Outflows from Financing |
(-)2,200,000,000 |
(-)900,000,000 |
(-)800,000,000 |
|
Increase/Decrease in Cash |
13,606,983,350 |
(-)1,956,949,537 |
5,663,970,820 |
|
Cash at the Beginning of Year |
18,737,190,023 |
20,694,139,560 |
15,030,168,740 |
|
Cash at the End of Year |
32,344,173,373 |
18,737,190,023 |
20,694,139,560 |
Products, Technologies, Services Description
|
Main Products & Services |
Machine, Metal, Fiber, Alcoholic Beverage |
Trade Partners & Competitors
|
Suppliers |
CITIGROUP CAPITAL KOREA, INC.(110111-0175087) provides equipments and
tools leasing services to the subject company. |
|
Customers |
MITSUI & CO., LTD.(JAPAN) |
|
Competitors |
SK NETWORKS CO., LTD.(130111-0005199) HYOSUNG CORPORATION(110111-0030497) LG INTERNATIONAL CORPORATION(110111-0004632) SAMSUNG C&T CORPORATION(110111-0002975) HYUNDAI CORPORATION(110111-0205850) SSANGYON CORPORATION(110111-0031479) |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Corporate Ownership |
MITSUI & CO., LTD. MITSUI & CO. BLDG. 2-1, OHTEMACHI
1-CHOME,CHIYODA-KU, TOKYO 100-0004, JAPAN
TEL:+81-3-3285-1111 FAX:+81-3-3285-9819 |
|
Major Shareholders |
MITSUI & CO., LTD. MITSUI & CO. BLDG. 2-1, OHTEMACHI 1-CHOME,CHIYODA-KU,
TOKYO 100-0004, JAPAN TEL:+81-3-3285-1111 FAX:+81-3-3285-9819 |
|
Cooperative Enterprise |
-Insured Company MITSUI SUMITOMO MARINE & FIRE INSURANCE
CO., LTD.(JAPAN) LIG INSURANCE CO., LTD.(110111-0017859) |
Sales by Region
(Activity & Markets)
The Subject imports
from Japan.
Court Action
No.
News Clipping
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.45 |
|
UK Pound |
1 |
Rs.73.35 |
|
Euro |
1 |
Rs.64.78 |
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 |
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 |
|
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NB |
New Business |
---- |
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.