MIRA INFORM
REPORT
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Report Date : |
09.06.2011 |
IDENTIFICATION DETAILS
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Name : |
NISSIN TRADING CO LTD |
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Registered Office : |
DIC Bldg 10F, 2-16-2 Sotokanda
Chiyodaku Tokyo 101-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
February 1950 |
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Com. Reg. No.: |
(Tokyo-Chuoku)
053203 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export
of chemicals, tobacco |
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 429.2 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 – 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
NISSIN TRADING CO LTD
REGD NAME
Nisshin Boeki KK
MAIN OFFICE
DIC Bldg 10F,
2-16-2 Sotokanda Chiyodaku
Tokyo 101-0021
Tel:
03-3253-3461 Fax: 03-3253-3934
*.. Registered at: 3-7-20 Nihombashi Chuoku Tokyo
URL: http://www.nissinboeki.co.jp
E-Mail address: info@nissinboeki.co.jp
ACTIVITIES
Import,
export of chemicals, tobacco
BRANCHES
Osaka
OVERSEAS
China (2) (--subsidiaries)
OFFICERS
TAIZO
ITOH, PRES Takeyoshi Takahashi, mgn dir
Kimio Matsuzawa, dir Hitoshi Banno,
dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 17,792 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen
4,557 M
STARTED 1950 EMPLOYES 39
COMMENT
TRADING FIRM SPECIALIZING IN CHEMICALS & TOBACCO.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 429.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a trading division
separated from Dainippon Ink & Chemicals Co (now DIC Corp), chemical mfr,
Tokyo. This is a trading firm
specializing in importing & exporting industrial chemicals &
tobacco. Sales to and purchase from DIC
Corp account for about 30% of total sales.
Clients include chemical firms, mfrs, other.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 17,792
million, a 21% down from Yen 22,596 million in the previous term, as affected
by the global economic downturn. Demand
declined in all areas. High Yen hurt
export revenues & profits in Yen terms.
The recurring profit was posted at Yen 305 million and the net profit at
Yen 306 million, compared with Yen 476 million recurring profit and Yen 475
million net losses, respectively, a year ago.
For the term that ended Mar 2011 the recurring profit was projected at
Yen 310 million and the net profit at Yen 310 million, respectively, on a 4%
rise in turnover, to Yen 18,500 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 429.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1950
Regd No.: (Tokyo-Chuoku)
053203
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.6 million shares
Issued: 400,000 shares
Sum: Yen 20 million
Major shareholders (%): Nissei
Fudosan Co Ltd* (100)
*.. Real estate owner, owned by
DIC Corporation
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Trading firm for
import, export and wholesale of chemicals, oils & fats, building materials,
packaging equipment, tobacco, others (--100%).
(Handling Items):
Chemicals: Solvents,
monomers, organic chemicals, synthetic resins (DIC products), modifiers, intermediates
for dyestuff & paints, inorganic chemicals, other;
Oils & Fats: vegetable oils
& fats, animal oils & fats, fatty acids;
Building
Materials: exterior materials & decorations, thermal insulation materials,
housing equipment, other;
Tobacco: cigarettes,
cigars, pipe tobacco, other.
Clients: [Mfrs,
wholesalers] DIC, Nippon Rietec Co, Nippon
Polyurethane Ind, Dainippon Paints, Tamura Corp,
Toshiba Corp, Showa Varnish Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] DIC, Nippon Polyurethane Ind, Mitsubishi
Shoji Chemical, DH Materials, Toa Gosei Co, Teijin
Chemicals Ltd, other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Nihombashi)
Mizuho
Bank (Yaesuguchi)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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18,500 |
17,792 |
22,596 |
23,145 |
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Recur.
Profit |
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310 |
305 |
476 |
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Net
Profit |
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310 |
306 |
475 |
424 |
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Total
Assets |
|
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15,250 |
13,550 |
19,893 |
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Current
Assets |
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4,520 |
4,643 |
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Current
Liabs |
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6,183 |
6,050 |
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Net
Worth |
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4,557 |
3,198 |
5,743 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.98 |
-21.26 |
-2.37 |
6.37 |
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Current Ratio |
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.. |
73.10 |
76.74 |
.. |
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N.Worth Ratio |
.. |
29.88 |
23.60 |
28.87 |
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R.Profit/Sales |
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1.68 |
1.71 |
2.11 |
.. |
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N.Profit/Sales |
1.68 |
1.72 |
2.10 |
1.83 |
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Return On Equity |
.. |
6.71 |
14.85 |
7.38 |
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Notes:
Forecast (or estimated) figures for the 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.61 |
|
UK Pound |
1 |
Rs.73.28 |
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Euro |
1 |
Rs.65.47 |
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.