MIRA INFORM REPORT
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Report Date : |
02.06.2011 |
IDENTIFICATION DETAILS
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Name : |
KONISHIYASU CO LTD |
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Registered Office : |
2-6-3 Nihombashi-Honcho Chuoku Tokyo
103-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
November 1921 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale of industrial chemicals |
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 662.7 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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
KONISHIYASU CO LTD
REGD NAME
Konishiyasu KK
MAIN OFFICE
2-6-3
Nihombashi-Honcho Chuoku Tokyo 103-0023 JAPAN
Tel:
03-3661-3123 Fax: 03-3661-4837
URL: http://www.konishiyasu.com/
E-Mail address: thru
the URL)
ACTIVITIES
Import,
export, wholesale of industrial chemicals
BRANCHES
Osaka,
Nagoya, Kashima
OVERSEAS
Shanghai,
Singapore, Malaysia (--subsidiaries)
OFFICER(S)
TOSHIYUKI
KONISHI, PRES Yoshiyasu Taguchi,
s/mgn dir
Kiyoshi
Uehara, mgn dir Toshiaki
Suzuki, dir
Haruhiko
Kimura, dir Konosuke
Terui, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 48,611 M
PAYMENTS REGULAR CAPITAL Yen 315 M
TREND SLOW WORTH Yen
4,805 M
STARTED 1921 EMPLOYES 134
COMMENT
TRADING
FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARYBUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 662.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company is an old-established firm dating back to 1828 when
Yasubei Konishi started the business, on his account, for wholesaling drugs,
dyes and other products. Incorporated in
1921 as Yasubei Konishi Co Ltd and renamed as captioned in 1971. Toshiyuki is the 8th generation
master. Handles a wide range of
industrial chemicals: organic/inorganic chemicals, resins, metals, surface
treatments, electronic materials, gases & environmental oriented products,
other. Goods are both imported and
exported. Has a strong business source
in China. Domestic clients include paper
mills, cosmetics mfrs, others, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 48,611
million, an 11% down from Yen 54,599 million in the previous term, as affected
by the global economic downturn. High
Yen hurt sales in Yen terms. The
recurring profit was posted at Yen 409 million and the net profit at Yen 87
million, respectively, compared with Yen 350 million recurring profit and Yen
74 million net profit, respectively, a year ago.
For the term that ended Mar 2011 the recurring profit was projected at
Yen 410 million and the net profit at Yen 90 million, respectively, on a 3%
rise in turnover, to Yen 50,000 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit is estimated at Yen 662.7 million, on 30
days normal terms.
REGISTRATION
Date Registered: Nov 1921
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 20
million shares
Issued: 5.1
million shares
Sum: Yen 315 million
Major shareholders (%): Konishi Kigyo*(27.1),
Toshiyuki Konishi (3.4), Asahi Life Ins (2.2), Tomoyuki Konishi (2.2)
* Holding company owned by the Konishi family
No. of shareholders: 280
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports
and wholesales electronics materials (50%), industrial chemicals
(organic/inorganic chemicals, surface treatments, etc) (32%), resins (7%),
metals (7%), others (4%);
Overseas sales ratio (10%).
(Handling items by
Division):
Industrial
Chemical Division: a wide range of products from basis chemicals such
as alkali, acid, and solvents to performance chemicals; sole distributor in
eastern region of Japan in Titanium Dioxide produced by Titan Kogyo KK,
inorganic chemicals (chloride, caustic soda, sulfuric and phosphoric acid),
organic chemicals (solvents, acetic acid, gluconic acid, surface treatment
agents, precious metal gilding chemicals, nonferrous metal (nickel & zinc),
waste-water treatment agents, active magnets, other;
Electronic
Chemicals Division: ceramic condenser materials (base materials
focused on barium titanate, electrode materials composed of compound
materials), secondary battery materials (cobalt oxide lithium, manganese
dioxide, hydroxide nickel, cobalt oxide), toner materials (styrene acrylic
resin, polyester resin, magnetite), others (thin film materials, organic EL
coating materials, LTCC substrate materials), other;
Paper Materials
& Environment-Related Division: various kinds of chemicals, pigments,
filters, and plastics used for pulp & paper mfg, supply of drainage of
water from domestic & overseas suppliers, imports calcined kaolin from
China and fluorescence dye from 3V Sigma of Italy.
Clients: [Mfrs,
wholesalers] Oji Paper Mills, TDK, Asahi Glass, Lion Corp, Kyocera Corp,
Nippon Electric Glass, Nippon Chemical Ind, Kikuchi Color &
Chemicals Corp, other
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] DIC , Asahi Glass, Mitsubishi Gas Chemicals, Lion Corp, Titan Kogyo
Ltd, Nissan Chemical Ind, other.
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho
Bank (Nihombashi)
MUFG
(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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50,000 |
48,611 |
54,599 |
62,049 |
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Recur.
Profit |
|
410 |
402 |
350 |
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Net
Profit |
|
90 |
87 |
74 |
277 |
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Total
Assets |
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28,633 |
23,704 |
30,432 |
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Current
Assets |
|
|
20,055 |
16,847 |
21,481 |
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Current
Liabs |
|
|
21,906 |
19,019 |
23,811 |
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Net
Worth |
|
|
4,805 |
3,524 |
4,820 |
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Capital,
Paid-Up |
|
|
315 |
3,115 |
315 |
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Div.P.Share(¥) |
|
|
6.00 |
6.50 |
6.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.86 |
-10.97 |
-12.01 |
7.45 |
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Current Ratio |
|
.. |
91.55 |
88.58 |
90.21 |
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N.Worth Ratio |
.. |
16.78 |
14.87 |
15.84 |
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R.Profit/Sales |
|
0.82 |
0.83 |
0.64 |
.. |
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N.Profit/Sales |
0.18 |
0.18 |
0.14 |
0.45 |
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Return On Equity |
.. |
1.81 |
2.10 |
5.75 |
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Notes:
Forecast (or estimated) figures for the 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.89 |
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UK Pound |
1 |
Rs.73.85 |
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Euro |
1 |
Rs.64.76 |
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.