MIRA INFORM REPORT
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Report Date : |
16.12.2011 |
IDENTIFICATION DETAILS
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Name : |
SUD-CHEMIE CATALYSTS JAPAN INC |
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Registered Office : |
Shinjuku Minds Tower 5F, 2-1-1 Yoyogi
Shibuyaku Tokyo 151-0053 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
October 1964 |
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Com. Reg. No.: |
(Tokyo-Shibuyaku) 037088 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of catalysts |
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No. of Employees
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200 persons |
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 422.3 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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
SUD-CHEMIE CATALYSTS JAPAN INC
REGD
NAME
Sud-Chemie
Shokubai KK (Shokubai means catalysts)
MAIN
OFFICE
Shinjuku Minds
Tower 5F, 2-1-1 Yoyogi Shibuyaku Tokyo 151-0053 JAPAN
Tel:
03-5308-9300 Fax: 03-5308-9320
URL: http://www.sud-chemie-japan.com
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of
catalysts
BRANCHES
Shimonoseki
(Yamaguchi)
OVERSEAS
Indonesia
(JV company)
FACTORIES
Toyama
(2)
OFFICERS
YUJIRO
SAITO, PRES Gunther
V Aw, v pres
Tomoyuki
Takenaka, dir Hisato
Yokoma, dir
Takeshi
Iwase, dir Hans J Muller, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 11,647 M
PAYMENTS REGULAR CAPITAL Yen 543 M
TREND SLOW WORTH Yen
4,463 M
STARTED 1963 EMPLOYES 200
COMMENT
MFR OF CATALYSTS, JV OF SUD-CHEMIE AG & NISSAN CHEMICAL
IND.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT
LIMIT: YEN 422.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally as a 50/50 JV between Chemetron Corp, USA and Nissan Chemical Ind (See REGISTRATION), and in Jan 1974 Sud-Chemie AG bought the share of Chemetron Corp, and renamed as Nissan Sud-Chemie Catalysts Japan Inc. In July 2011, the firm merged with Toyo CCI Co, and renamed to the captioned. This is a specialized mfr of catalysts for production of commodity and specialty chemicals, and fuel cell catalysts, other. Clients include major chemical producers, general trading houses for import/export, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Dec/2010 fiscal term amounted to Yen 11,647 million, a 3% up from Yen 11,367 million in the previous term. The recurring profit was posted at Yen 204 million and the net profit at Yen 50 million, respectively, compared with Yen 1,412 million recurring profit and Yen 543 million net profit, respectively, a year ago.
For the current term ending Dec 2011 the recurring profit is projected at Yen 1,800 million and the net profit at Yen 600 million, respectively, on a 29% rise in turnover, to Yen 17,000 million. The said merger will contribute to the sales growth and business expansion.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 422.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct1964
Regd No.: (Tokyo-Shibuyaku) 037088
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
2.8 million shares
Issued:
1,087,188 shares
Sum: Yen 543,594 thousand
Major shareholders (%): Sud-Chemie AG (61.6), Nissan
Chemical Ind* (38.4)
No. of shareholders: 2
*.. Nissan Chemical Ind, chemicals mfr, Tokyo, founded 1921, listed Tokyo S/E, capital Yen 18,942 million, sales Yen 154,209 million, operating profit Yen 19,817 million, recurring profit Yen 19,369 million, net profit Yen 12,953 million, total assets Yen 180,267 million, net worth Yen 113,069 million, employees 2,334, pres Kojiro Kinoshita
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures catalysts for production of commodity & specialty chemicals, fuel cell catalysts, other chemicals (--100%)
Clients: [Mfrs, wholesalers] Mitsubishi Corp, Sumitomo Corp, CBC, JDC Corp, Sojitz Corp, Sud-Chemie AG, Nissan Chemical Ind, Mitsui Chemical, Kyokuto Boeki Kaisha, Nissei Corp, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Sud-Chemie AG, Sud-Chemie Inc, JX Metals Trading Co, Mitsui Chemical Co, Mitsui & Co, ACST-CS, Mitsui Metal Mining, Nissei Corp, other
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
· Mizuho Bank (Ichigaya)
· SMBC (Kasumigaseki)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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15,000 |
11,647 |
11,367 |
14,687 |
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Recur.
Profit |
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1,800 |
204 |
1,412 |
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Net
Profit |
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600 |
50 |
543 |
634 |
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Total
Assets |
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10,195 |
9,275 |
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Current
Assets |
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4,879 |
4,532 |
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Current
Liabs |
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2,479 |
3,758 |
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Net
Worth |
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4,463 |
4,823 |
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Capital,
Paid-Up |
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543 |
543 |
543 |
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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 |
28.79 |
2.46 |
-22.61 |
5.44 |
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Current Ratio |
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.. |
196.81 |
120.60 |
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N.Worth Ratio |
.. |
43.78 |
52.00 |
.. |
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R.Profit/Sales |
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12.00 |
1.75 |
12.42 |
.. |
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N.Profit/Sales |
4.00 |
0.43 |
4.78 |
4.32 |
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Return On Equity |
.. |
1.12 |
11.26 |
.. |
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Notes:
Forecast (or estimated) figures for the 31/12/2011 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.54.24 |
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UK Pound |
1 |
Rs.83.77 |
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Euro |
1 |
Rs.70.46 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.