MIRA INFORM
REPORT
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Report Date : |
24.01.2011 |
IDENTIFICATION DETAILS
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Name : |
TOYO CHEMICALS CO LTD |
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Registered Office : |
4-5-16 Nihombashi-Honcho Chuoku Tokyo
103-8407 |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
June 1947 |
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Com. Reg. No.: |
(Tokyo-Chuoku) 051875 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale of industrial chemicals, electronics,
functional resins |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 162.0 Million |
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Status : |
Moderate |
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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
TOYO CHEMICALS CO LTD
REGD NAME
Toyo Chemicals KK
MAIN OFFICE
4-5-16 Nihombashi-Honcho
Chuoku
Tel:
03-3270-1151 Fax: 03-3246-2164
URL: www.toyochem.co.jp
E-mail: info@toyochem.co.jp
ACTIVITIES
Import,
export, wholesale of industrial chemicals, electronics, functional resins
BRANCHES
OFFICER(S)
HIROFUMI
KUMAGAI, PRES Manabu Miyamoto, mgn
dir
Masae
Ushiyama, mgn dir Hiroshi Urae,
dir
Masao
Inoue, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 15,260 M
PAYMENTS REGULAR CAPITAL Yen
150 M
TREND SLOW WORTH Yen
920 M
STARTED 1947 EMPLOYES 70
COMMENT
TRADING
FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 162.0 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Hirofumi Kumagai in order to make most of his experience in the subject line of business. This is a trading firm specializing in import, export and wholesale of industrial chemicals, molding materials, plastic films, functional resins, electronics, other (See OPERATION). Clients include major chemical mfrs, electronics mfrs, other makers, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 15,260 million, a 15% down from Yen 17,912 million in the previous term, as affected by the global economic downturn particularly in the first half of the term. Demand declined in all segments. Exports were hurt by the high yen. The recurring profit was posted at Yen 94 million and the net profit at Yen 38 million, respectively, compared with Yen 92 million recurring profit and Yen 20 million net profits, respectively, a year ago. .
For the current term ending Mar 2011 the recurring profit is projected at Yen 95 million and the net profit at Yen 40 million, respectively, on a 5% rise in turnover, to Yen 16,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 162.0 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1947
Regd No.: (Tokyo-Chuoku) 051875
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4
million shares
Issued: 3
million shares
Sum: Yen 150 million
Major shareholders (%): Masa Kunihira (11.3), Hirofumi
Kumagai (7.1), Hitachi Chemical Ind (7.0), Mitsui Chemical (5.9), Shinji Asada
(5.6)
No. of shareholders: 117
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Trading firm for import, export and wholesale of industrial chemicals, plastic films, pigments & dyestuffs, functional resins, electronics (encoder, sensor, other), UV materials, lubricant additives, adhesives, other (--100%).
(Functional resins): acrylic resins, alkyd resins, amino resins, resins for ink, synthetic resin emulsion, petrol resins, shellac resins, silicon resins, unsaturated polyester resins, fluoric resins, other
Clients: [Mfrs, wholesalers] DIC, SK Chemical, Panasonic Energy, Mitsui Chemical Fabro Inc, Dainichiseika Color & Chemicals Mfg, Tohpe Corp, SMC, Tohoku Secchakuzai (Adhesives), Natoco Co, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Hitachi Chemical Ind, Miwon Specialty Chemicals, Mitsui & Co, Sekisui Plastics Co, Gifu Shellac Mfg, Hitachi Kasei Polymer Co, Coremax Taiwan Corp, Elco Corp, Mitsui Bussan Plastic Trade Inc, Join Line Industries, Furukawa Sangyo, Sanyo Chemical Ind, other
Payment record:
Regular
Location:
Business area in
Bank References:
· MUFG (Muromachi)
· SMBC (Nihombashi)
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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16,000 |
15,260 |
17,912 |
18,686 |
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Recur.
Profit |
|
95 |
94 |
92 |
118 |
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Net
Profit |
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40 |
38 |
20 |
285 |
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Total
Assets |
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7,042 |
6,198 |
7,759 |
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Current
Assets |
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4,301 |
3,546 |
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Current
Liabs |
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4,543 |
4,139 |
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Net
Worth |
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920 |
797 |
900 |
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Capital,
Paid-Up |
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150 |
150 |
150 |
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Div.P.Share(¥) |
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5.00 |
5.00 |
5.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.85 |
-14.81 |
-4.14 |
-5.21 |
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Current Ratio |
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.. |
94.67 |
85.67 |
.. |
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N.Worth Ratio |
.. |
13.06 |
12.86 |
11.60 |
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R.Profit/Sales |
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0.59 |
0.62 |
0.51 |
0.63 |
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N.Profit/Sales |
0.25 |
0.25 |
0.11 |
1.53 |
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Return On Equity |
.. |
4.13 |
2.51 |
31.67 |
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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.45.70 |
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|
1 |
Rs.72.78 |
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Euro |
1 |
Rs.61.65 |
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.