MIRA INFORM REPORT

 

 

Report Date :

10.12.2011

 

IDENTIFICATION DETAILS

 

Name :

MITSUYA BOEKI LTD

 

 

Registered Office :

Yamaguchi Kosan Sakaisuji Bldg, 2-2-7 Kyutaromachi Chuoku Osaka 541-0056

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Year of Establishment :

August 1985

 

 

Com. Reg. No.:

(Osaka-Chuoku) 090430

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of industrial chemicals, pharmaceuticals, health foods

 

 

No. of Employees :

49

 

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

 

Maximum Credit Limit :

Yen 108.4 Million

Status :

Satisfactory

Payment Behaviour :

Regular

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

MITSUYA BOEKI LTD

REGD NAME:    Mitsuya Boeki KK

MAIN OFFICE:  Yamaguchi Kosan Sakaisuji Bldg, 2-2-7 Kyutaromachi Chuoku Osaka -541-0056 JAPAN

                        Tel: 06-6260-4581     Fax: 06-6260-4575

                       

URL:                 http://www.mitsuya-boeki.co.jp

E-Mail address: info@mitsuya-boeki.co.jp

 

 

ACTIVITIES

 

Import, export, wholesale of industrial chemicals, pharmaceuticals, health foods

 

BRANCHES

 

Teheran; Mitsuya Boeki (USA) Inc, India (subsidiary)

 

 

OFFICERS

 

Yasuo Takahashi, ch                              MASARU KIMURA, PRES

Kiyoshi Nishimura, s/mgn dir                  Koji Hirata, mgn dir

Hiroshi Sakakibara, dir                           Hiroaki Gen, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 13,367 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 54 M

TREND             STEADY                       WORTH            Yen 325 M

STARTED                     1985                             EMPLOYES      49

 

 

COMMENT

 

TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY

BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 108.4 MILLION, 30 DAYS NORMAL TERMS.  .

 

 

HIGHLIGHTS

           

            The subject company was established by Yasuo Takahashi jointly with two other

entrepreneurs (all on the board and shareholders).  Originally started importing pharmaceutical raw materials & intermediates from Australia, India and China, the core of its operations.  The firm has since diversified handling products to include: pigments, paints, other industrial chemicals, pharmaceutical intermediates, food additives, health foods, cosmetics & toiletries.  Main market base is USA, where the firm operates a subsidiary, Mitsuya Boeki (USA) Inc (See OPERATION).  Imports of raw materials for pharmaceuticals continue growing from India & China.  Operations are also diversified into advanced areas, such as fuel cells, nano powder (fine), etc.  Goods are actively exported to USA, Mid/South America, India, Europe, Africa, Mid/Near East, China, other S/E Asia.

 

 

FINANCIAL INFORMATION

           

            The sales volume for Mar/2011 fiscal term amounted to Yen 13,367 million, a 19% up from Yen 11,205 million in the previous term.  Exports of pharmaceuticals, paints and industrial chemicals grew into Asia and Mid/Near East.  Imports also increased.  The recurring profit was posted at Yen 35 million and the net profit at Yen 15 million, respectively, compared with Yen 144 million recurring profit and Yen 69 million net losses, respectively, a year ago.  High Yen ate into profits in Yen terms.

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 40 million and the net profit at Yen 20 million, respectively, on a 5% rise in turnover, to Yen 14,000 million.  Exports are expanding steadily.  Dietary foods and health foods will grow in Japan amid ballooning aging population here. 

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 108.4 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:  Aug 1985

Regd No.:            (Osaka-Chuoku) 090430

Legal Status:     Limited Company (Kabushiki Kaisha)

Authorized:        4,000 shares

Issued:               1,080 shares

Sum:                  Yen 54 million

Major shareholders (%): Yasuo Takahashi (45), Kiyoshi Nishimura (26, Masaru Kimura (10), Hiroshi Sakakibara (10), Hiroaki Gen (10)

 

No. of shareholders: 8

           

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Imports, exports and wholesales industrial chemicals: cosmetics/toiletries, electronics materials, food additives, glass materials, pharmaceuticals materials &    intermediates, textiles, pulp & paper, plastics, toothpaste, detergent, agricultural chemicals, construction materials, fuel cells, machine components, others (--100%).

Pharmaceuticals raw materials & intermediates are mainly imported from China and India.

 

(New Products):

Fuel Cell Materials: anode, carbon, catalysts, cathode, electrolyte, interconnector

materials;

Dietary Supplements: EPA oil, DHA oil, calcium gluconate, calcium lactate, taurin,

Vitamin (A, B, D, E, H), soybean lecithin, ohlor tetra cycline, other;

Nano Products;

Amino Acid.

 

Goods are widely exported to: USA, Mid/South America, India, China, UK, Germany,  Africa, Mexico, Taiwan, other S/E Asian countries, etc. 

 

(North American Operations): Operation is conducted by firm’s USA subsidiary selling typically following products through distributors & agencies across the country:

(Commodities): additives (fluoride, etc) for tooth polishing, raw materials of synthetic rubber, paints for cars, new materials such as high purity chemicals for use in Lithium Ion secondary batteries & fuel cells, raw materials for health foods, raw materials of agrochemicals (mainly shipped to Mexico & Chile), chelating agents.

           

Clients: [Mfrs, wholesalers] Exports to USA, Australia, India, China, Europe, Mid/South America, Mid/Near East, UK, Korea, Thailand, S/E Asia, other. 

Domestic clients include: Osaka Organic Chemical Ind, Japan General, Wako Pure

Chemical Ind, other.

No. of accounts: 1,000

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Tosoh Corp, Shin-Etsu Chemical, Otsuka Chemical, Ube     Ind, Nippon Shokubai, Stella Chemifa, Daicel Chemical, Nippon Paper Chemical, Japan Carbide, Mitsubishi Chemical, Mitsubishi Gas Chemical, Mitsubishi Rayon, Japan Vam & Poval Co, other. 

Also imports from India, China, Australia, other.

 

Payment record: Regular

 

Location: Business area in Osaka.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

MUFG (Semba-Chuo)

SMBC (Namba)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

14,000

13,367

11,205

8,426

Recur. Profit

　

40

35

144

34

Net Profit

　

20

15

69

-34

Total Assets

　

　

3,276

2,888

2,338

Current Assets

　

　

3,042

2,659

2,103

Current Liabs

　

　

2,242

1,937

1,519

Net Worth

　

　

325

309

239

Capital, Paid-Up

　

　

54

54

54

Div.P.Share(₯)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.74

19.29

32.98

1.46

    Current Ratio

 

..

135.68

137.27

138.45

    N.Worth Ratio

..

9.92

10.70

10.22

    R.Profit/Sales

 

0.29

0.26

1.29

0.40

    N.Profit/Sales

0.14

0.11

0.62

-0.40

    Return On Equity

..

4.62

22.33

-14.23

 

Note: Forecast (or estimated) for the 31/03/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.28

UK Pound

1

Rs.81.55

Euro

1

Rs.69.60

 

 

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

--

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.