MIRA INFORM REPORT

 

 

Report Date :           

12.07.2011

 

IDENTIFICATION DETAILS

 

Name :

SHIRAISHI CALCIUM KAISHA LTD

 

 

Registered Office :

2-10-5 Doshin Kitaku Osaka 530-0035

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

November  1937

 

 

Com. Reg. No.:

(Osaka-Kitaku) 059647

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of industrial chemicals

 

 

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 2,010.2 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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

 

SHIRAISHI CALCIUM KAISHA LTD

 

 

REGD NAME

 

Shiraishi Calcium KK

 

 

MAIN OFFICE

 

2-10-5 Doshin Kitaku Osaka 530-0035 JAPAN

Tel: 06-6358-1181     Fax: 06-5358-9036

                       

URL:                             http://www.shiraishi.co.jp/

E-Mail address:            international@shiraishi.co.jp

 

 

ACTIVITIES

 

Import, export, wholesale of industrial chemicals

 

 

BRANCHES   

 

Tokyo, Sapporo, Sendai, Shizuoka, Nagoya, Hiroshima, Kumamoto

 

 

OVERSEAS   

 

13 overseas affiliates & group companies in: China (4), Korea, Thailand, Malaysia, Singapore, Taiwan,Hong Kong, Philippines, Vietnam, Indonesia, and India

 

(Sales agents): covering 58 countries worldwide

 

 

OFFICER(S)  

 

TSUNEHIRO SHIRAISHI, PRES              Noriaki Kitagawa, s/mgn dir

Isao Nojima, s/mgn dir                                        Takeshi Tanaka, mgn dir

Toshiya Itoh, mgn dir                                          Hiroshi Takahashi, dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                             A/SALES          Yen 66,217 M

PAYMENTS      REGULAR                     CAPITAL           Yen 231 M

TREND             UP                                WORTH            Yen 10,167 M

STARTED         1937                             EMPLOYES      215

 

 

COMMENT

 

TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS. 

 

FINANCIAL SITUATION CONSIDERED FAIR TO GOOD AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 2,010.2 MILLION. 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established as a trading division by Shiraishi Kogyo KK (see REGISTRATION), in order to export calcium carbonate, manufactured by the parent, for supply to rubber industries.  The firm has since expanded handling items for supply to such industries as: rubber, plastics, sealants & adhesives, paper, paints & coatings, industrial textiles, food & pharmaceuticals, agriculture & stockbreeding, with recent expansion into optical lenses and cosmetic industries.  Calcium carbonate & carbon black are major items.  Present executives are the founder’s descendants.  Activities cover 58 countries worldwide through 13 overseas affiliates and group firms.

           

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2011 fiscal term amounted to Yen 66,217 million, a 9% up from Yen 60,838 million in the previous term.  Demand was brisk in China and other S/E Asian countries.  Exports rose more than expected.  The recurring profit was posted at Yen 767 million and the net profit at Yen 322 million, respectively, compared with Yen 604 million recurring profit and Yen 323 million net profit, respectively, a year ago. 

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 800 million and the net profit at Yen 350 million, respectively, on a 5% rise in turnover, to Yen 69,500 million.  Sales of functional materials & base chemicals will grow, fueled by brisk demand in China.  Sales of advanced chemicals will also rise.

 

The financial situation is considered FAIR to GOOD and responsible for ORDINARY business engagements.  Max credit limit is estimated at Yen 2,010.2 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered: Nov 1937

Regd No.:         (Osaka-Kitaku) 059647

Legal Status:   Limited Company (Kabushiki Kaisha)

Authorized:      18.48 million shares

Issued:             4.62 million shares

Sum:                 Yen 231 million

Major shareholders (%): Shiraishi Kogyo Kaisha Ltd*(100)

 

*.. Mfr of calcium carbonate, Hyogo-Pref, founded 1919, capital Yen 550 million, turnover Yen 13,284 million, net profit Yen 285 million, employees 159, pres Tsunehiro Shiraishi, concurrently.

 

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

 

 

OPERATION

 

Activities: A trading house for import, export and wholesale of calcium carbonate (18%),     reinforcing agents & fillers (21%), synthetic rubber & resin (28%), rubber chemicals & plastic            additives (20%), food additives, agriculture & livestock breeding materials (8%), industrial textile materials, others (5%), covering 58 countries worldwide. 

 

(Import 50%, export 50%)

 

Clients: [Mfrs, wholesalers] Oji Paper, Daio Paper, Chuetsu Pulp & Paper, Toyoda Gosei, Hoya Corp, Tokai Rubber Ind, Hokuetsu Kishu Paper, Elastomix Co, Toray Dow Corning, Asahi Carbon, Tajima Inc, other

            No. of accounts: 1,000

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Tosoh Corp, Asahi Carbon, Shiraishi Kogyo KK, Tokuyama Corp, Bihoku Funka Kogyo, JSR, Tosoh Corp, Elastomix, Shipro Kasei, Ohmi Chemical Ind,

other

 

Payment record: Regular

 

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

 

Bank References:

Mizuho Bank (Namba)

MUFG (Umeda)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

69,500

66,217

60,838

67,241

Recur. Profit

　

800

767

604

292

Net Profit

　

350

322

323

323

Total Assets

　

　

27,187

27,221

27,221

Current Assets

　

　

21,711

21,680

21,680

Current Liabs

　

　

15,058

14,934

14,934

Net Worth

　

　

10,167

9,971

9,971

Capital, Paid-Up

　

　

231

231

231

Div.P.Share(¥)

　

　

15.00

15.00

15.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.96

8.84

-9.52

-6.98

    Current Ratio

 

..

144.18

145.17

145.17

    N.Worth Ratio

..

37.40

36.63

36.63

    R.Profit/Sales

 

1.15

1.16

0.99

0.43

    N.Profit/Sales

0.50

0.49

0.53

0.48

    Return On Equity

..

3.17

3.24

3.24

 

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

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.37

UK Pound

1

Rs.70.84

Euro

1

Rs.62.96

 

 

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.