MIRA INFORM REPORT
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Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
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Name : |
HISSAN TRDING CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
April
1932 |
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Com. Reg. No.: |
(Tokyo-Minatoku) 031628 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale of steel materials, building
materials, electronics |
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 475.7 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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
HISSAN TRDING CO LTD
REGD NAME
Hissan Shoji KK
MAIN OFFICE
Tel: 035405-6111
URL: http//:www.hissan.co.jp
E-mail: info@hissan.co.jp
ACTIVITIES
Import,
export, wholesale of steel materials, building materials, electronics
BRANCHES
OVERSEAS
OFFICER(S)
YOSHIAKI
MIKAMI, PRES Itaru Shinohara,
s/mgn dir
Kazue Endoh, s/mgn dir Motoharu Honma, mgn dir
Takeshi Okada, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 44,546 M
PAYMENTS REGULAR CAPITAL Yen 1,200 M
TREND SLOW WORTH Yen
2,279 M
STARTED 1932 EMPLOYES 124
COMMENT
TRADING FIRM CHEMICALS, STEEL MATERIALS, OTHER, AFFILIATED WITH DENKI
KAGAKU KOGYO KK
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
MAX CREDIT LIMIT: YEN 475.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company
was established by a local entrepreneur in order to wholesale chemicals and
steel products. Incorporated in 1932 and
the firm became a subsidiary of Denki Kagaku Kogyo KK (See REGISTRATION). This is a
trading firm specializing in import, export and wholesale of industrial
chemicals, steel mfg materials, paper-related products, electronics,
other. Has six overseas subsidiaries in
FINANCIAL INFORMATION
The sales volume for
Mar/2010 fiscal term amounted to Yen 44,546 million, a 1% down from Yen 44,207
million in the previous term. The recurring
profit was posted at Yen 194 million and the net profit at Yen 88 million,
respectively, compared with Yen 172 million recurring profit and Yen 113
million net profit, respectively, a year ago.
.
For the current tem
ending Mar 2011 the recurring profit is projected at Yen 195 million and the
net profit at Yen 85 million, respectively, on a 1% rise in turnover, to Yen
45,000 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 475.7
million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr
1932
Regd No.: (Tokyo-Minatoku)
031628
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 96 million shares
Issued: 24 million shares
Sum: Yen 1,200 million
Major shareholders (%): Denki Kagaku Kogyo KK* (63.5), Japan Pulp
& Paper (14.4), Mizuho Corporate Bank (4.3)
No. of shareholders: 217
* Leading
second-tier comprehensive chemical mfr, Tokyo, founded 1915, listed Tokyo S/E, capital
Yen 36,998 million, sales Yen 334,130 million, operating profit Yen 10,302
million, recurring profit Yen 3,064 million, net profit Yen 1,439 million,
total assets Yen 377,912 million, net worth Yen 150,142 million, employees
4,783, pres Seiki Kawabata
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Trading firm for import, export and wholesale of:
Chemicals & Plastics (26%): inorganic chemicals, solvents, monomers,
adhesives, synthetic resins, plastics, packaging materials, plastic films,
plastic sheets;
Steel & Iron Materials & Welding
Materials (29%): ferroalloys,
stainless scraps, refractory metals, stainless steel plates, pipes, titanium,
welding materials, high-pressure gases, fire-proof cement, high-pressure gas
vessels, waste water disposal facilities;
Paper-Related Products (18%): paper-related chemicals, silicon, adhesives,
pulps, waste paper, other;
Building Materials (15%): cement, admixtures, water-proof materials,
construction & building materials, water-proof works, floorings, others;
Electronics Materials (9%): semiconductor related materials, LCD-related
materials, photo-resist materials, other.
Others (3%)
Clients: [Mfrs, wholesalers] Oji Paper
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Denki Kagaku Kogyo, BASF Catalysts LLC, Toagosei
Co, Tokyo Ohka Kogyo, Nippon Steel & Sumikin Welding Co, other
Payment record:
Regular
Location:
Business area in
Bank References:
Mizuho
Corporate Bank (Uchisaiwaicho)
SMBC
(Kyobashi)
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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45,000 |
44,546 |
44,207 |
47,517 |
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Recur.
Profit |
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195 |
194 |
172 |
394 |
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Net
Profit |
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85 |
88 |
113 |
231 |
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Total
Assets |
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17,244 |
15,542 |
18,394 |
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Current
Assets |
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15,099 |
13,780 |
16,344 |
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Current
Liabs |
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14,383 |
13,012 |
15,464 |
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Net
Worth |
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2,279 |
2,004 |
2,263 |
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Capital,
Paid-Up |
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1,200 |
1,200 |
1,200 |
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Div.P.Share(¥) |
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3.00 |
3.00 |
3.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.02 |
0.77 |
-6.97 |
0.45 |
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Current Ratio |
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.. |
104.98 |
105.90 |
105.69 |
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N.Worth Ratio |
.. |
13.22 |
12.89 |
12.30 |
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R.Profit/Sales |
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0.43 |
0.44 |
0.39 |
0.83 |
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N.Profit/Sales |
0.19 |
0.20 |
0.26 |
0.49 |
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Return On Equity |
.. |
3.86 |
5.64 |
10.21 |
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Notes:
Forecast (or estimated) figures for the 31/03/2011 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.45.37 |
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1 |
Rs.73.54 |
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Euro |
1 |
Rs.62.39 |
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 |
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.