MIRA INFORM
REPORT
|
Report Date : |
26.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
ITOH OIL CHEMICALS CO LTD |
|
|
|
|
Registered Office : |
16-41 Suehirocho Yokkaichi Mie-Pref 510-0052 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
June 1946 |
|
|
|
|
Com. Reg. No.: |
(Mie-Yokkaichi) 014316 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer of castor oil &
derivatives |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
Yen 267.7 Million |
|
|
|
|
Status : |
Small Company |
|
|
|
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
a1 |
a1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
ITOH OIL CHEMICALS CO LTD
REGD NAME
Itoh Seiyu KK
(Seiyu means oil-refining)
MAIN OFFICE
16-41 Suehirocho
Yokkaichi Mie-Pref 510-0052
Tel:
059-352-5101 Fax: 059-354-3851
E-mail: info@itoh-oilchem.co.jp
ACTIVITIES
Mfg of
castor oil & derivatives
BRANCHES
OVERSEAS
FACTORIES
At the
caption address
OFFICER(S)
Goro
Itoh, ch MASATSUGU
Takashi
Hamaguchi, dir Sadaaki Tsuji,
dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 5,158 M
PAYMENTS REGULAR CAPITAL Yen 200 M
TREND SLOW WORTH Yen
5,478 M
STARTED 1946 EMPLOYES 72
COMMENT
MFR OF
CASTOR OIL.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 267.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Goro Itoh in order to make most
of his experience in the subject line of business. This is a specialized mfr, wholly owned by
the Itoh family, of refined castor oil & derivatives, polyurethane resins,
lubricants, additives for coatings, other.
Clients include major paint mfrs nationwide. Goods are also exported.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 5,158 million,
a 9% down from Yen 5,645 million in the previous term. Demand declined. High Yen hurt exports as earnings &
profits decreased in Yen terms. The
recurring profit was posted at Yen 544 million and the net profit at Yen 247
million, respectively, compared with Yen 378 million recurring profit and Yen
116 million net profit, respectively, a year ago. .
For the current term ending Mar 2011 the recurring profit is projected
at Yen 550 million and the net profit at Yen 250 million, respectively, on a 3%
rise in turnover, to Yen 5,300 million.
Exports into
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 267.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun
1946
Regd No.: (Mie-Yokkaichi)
014316
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued: 40,000 shares
Sum: Yen
200 million
Major shareholders (%):
Hideko Itoh (15), Goro Itoh (10), Shizuko Itoh (5)
No. of shareholders: 144
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
refined castor oil & derivatives, polyurethane resins, lubricants,
additives for coatings, printing inks & adhesives, other (--100%)
Clients: [Mfrs,
wholesalers] Nippon Polyurethane Ind, Chugoku Marine Paints, Kaneda Co, Nagase
& Co, Kansai Paints, Dainippon Paints, Nippon Paints, Sanyo Chemical Ind,
Matsumoto Yushi-Seiyaku Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui & Co, Kaneda Co, Itochu Chemical Frontier, Nagase &
Co, Goto Chemical, other
Payment record: Regular
Location: Business area in
Bank References:
Mizuho
Bank (
Mie
Bank (H/O)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
|
|
Annual
Sales |
|
5,300 |
5,158 |
5,645 |
6,819 |
|
Recur.
Profit |
|
550 |
544 |
378 |
|
|
Net
Profit |
|
250 |
247 |
116 |
257 |
|
Total
Assets |
|
|
6,770 |
6,862 |
6,470 |
|
Current
Assets |
|
|
4,221 |
4,813 |
|
|
Current
Liabs |
|
|
989 |
751 |
|
|
Net
Worth |
|
|
5,478 |
5,210 |
5,166 |
|
Capital,
Paid-Up |
|
|
200 |
200 |
200 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.75 |
-8.63 |
-17.22 |
-1.17 |
|
|
Current Ratio |
|
.. |
426.79 |
640.88 |
.. |
|
N.Worth Ratio |
.. |
80.92 |
75.93 |
79.85 |
|
|
R.Profit/Sales |
|
10.38 |
10.55 |
6.70 |
.. |
|
N.Profit/Sales |
4.72 |
4.79 |
2.05 |
3.77 |
|
|
Return On Equity |
.. |
4.51 |
2.23 |
4.97 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
|
|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.62.68 |
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 |
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.