MIRA INFORM REPORT
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Report Date : |
21.06.2011 |
IDENTIFICATION DETAILS
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Name : |
CHUO KASEIHIN CO INC |
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Registered Office : |
Nittochi Ginza Bldg 4F, 7-14-13 Ginza
Chuoku Tokyo 104-0061 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
April 1956 |
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Com. Reg. No.: |
(Tokyo-Chuoku) 102201 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of industrial chemicals, synthetic resin,
pharmaceutical intermediates, etc |
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 409.7 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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Litigation : |
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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
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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
CHUO KASEIHIN CO INC
REGD NAME
Chuo Kaseihin KK
MAIN OFFICE
Nittochi Ginza
Bldg 4F, 7-14-13 Ginza Chuoku Tokyo 104-0061 JAPAN
Tel:
03-5148-6455 Fax: 03-5148-6456
*.. Moved to the caption address in Aug 2010 from the former as given.
URL: http://www.chuo-chem.co.jp
E-Mail
address: a-iwamoto@chuo-chem.co.jp
ACTIVITIES
Mfg of
industrial chemicals, synthetic resin, pharmaceutical intermediates, etc
BRANCHES
Osaka,
Nagoya, Shiga, Tsukuba, Saitama
OVERSEAS
China
(3)
FACTORIES
Ageo, Aizu, Shiga, Hikone
OFFICERS
KEISUKE
MIZUSHIMA, PRES Kosuke
Mizushima, v pres
Hiroshi Nakanishi, s/mgn dir Daisuke Mizushima, mgn dir
Kisaburo Mizushima, dir Tetsuya Kimura, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 23,871 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND SLOW WORTH Yen 1,951 M
STARTED 1956 EMPLOYES 142
COMMENT
MFG OF INDUSTRIAL CHEMICALS, PHARMACEUTICAL INTERMEDIATES,
SYNTHETIC RESINS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 409.7
MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by father of Keisuke
Mizushima in order to make most of his experience in the subject line of
business. This is a trading firm, with
mfg division, for import, export and wholesale of industrial chemicals,
pharmaceutical intermediates, food additives, other. Clients include major pharmaceuticals mfrs,
chemical companies, other.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 19,409 million, a 19% down from Yen 23,871 million in the previous term, as affected by the global economic downturn. Exports declined. High Yen hurt export revenues & profits in Yen terms. The recurring profit was posted at Yen 125 million and the net profit at Yen 74 million, compared with Yen 192 million recurring profit and Yen 55 million net profit, respectively, a year ago.
For the term that ended Mar 2011 the recurring profit was projected at Yen 200 million and the net profit at Yen 100 million, respectively, on a 55% rise in turnover, to Yen 30,000 million. In Apr 2010 the firm merged three sister companies to integrate operations. 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 409.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1956
Regd No.: (Tokyo-Chuoku) 102201
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 8
million shares
Issued:
2 million shares
Sum: Yen 100 million
Major shareholders (%): Taimei KK* (9), Employees’
S/Holding Assn (4), Keisuke Mizushima (3), Kanematsu Chemical (1)
*.. Holding company owned by the Mizushima family
No. of shareholders: 32
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures, imports, exports and wholesales: petroleum products, coal chemicals, industrial organic/inorganic chemicals, pharmaceuticals intermediates, agrochemicals, pigment, oils & fats, synthetic resin materials, cast plastics, construction materials, food additives, other (--100%)
Clients: [Mfrs, wholesalers] DIC, Union Paint, Eisai Co, Showa Ink Mfg, Achilles Corp, Toshiba Corp, Nippon Kayaku Co, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Asahi Kasei fine Chem, Kanematsu Corp, Tonen Chemical, Maruzen Petroleum Chemicals, Mitsui & Co, DIC, Sojitz Corp, other
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Ginza-Chuo)
Tokyo
Tomin Bank (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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30,000 |
19,409 |
23,871 |
26,413 |
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Recur.
Profit |
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200 |
125 |
192 |
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Net
Profit |
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100 |
74 |
55 |
132 |
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Total
Assets |
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11,355 |
9,224 |
11,459 |
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Current
Assets |
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7,684 |
6,291 |
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Current
Liabs |
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6,659 |
4,801 |
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Net
Worth |
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1,957 |
1,911 |
1,883 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
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Div.P.Share(¥) |
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14.10 |
16.10 |
16.10 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
54.57 |
-18.69 |
-9.62 |
6.53 |
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Current Ratio |
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.. |
115.39 |
131.04 |
.. |
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N.Worth Ratio |
.. |
17.23 |
20.72 |
16.43 |
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R.Profit/Sales |
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0.67 |
0.64 |
0.80 |
.. |
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N.Profit/Sales |
0.33 |
0.38 |
0.23 |
0.50 |
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Return On Equity |
.. |
3.78 |
2.88 |
7.01 |
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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.44.99 |
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UK Pound |
1 |
Rs.72.60 |
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Euro |
1 |
Rs.64.01 |
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.