MIRA INFORM REPORT

 

 

Report Date :           

16.03.2011

 

IDENTIFICATION DETAILS

 

Name :

YAMAMOTO TRADING CO LTD

 

 

Registered Office :

1-14-1 Minamisemba Chuoku Osaka 542-0081

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

December 1953

 

 

Com. Reg. No.:

(Osaka-Chuoku) 091408

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of pigments, other 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 180.9 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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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

 

YAMAMOTO TRADING CO LTD

 

 

REGD NAME

 

Yamamoto Tsusan KK

 

 

MAIN OFFICE

 

1-14-1 Minamisemba Chuoku Osaka 542-0081 JAPAN

Tel: 06-6252-2131     Fax: 06-6261-3758

URL:                             http://www.ytc-j.co.jp/

E-Mail address:                        infomail@ytc-j.co.jp

 

 

ACTIVITIES  

 

Import, wholesale of pigments, other industrial chemicals

 

 

BRANCHES   

 

Tokyo, Nagoya

 

 

OVERSEAS   

 

Thailand, Korea, Shanghai

 

 

FACTORIES  

 

(subcontracted)

 

 

OFFICER(S)  

 

YOSHINOSUKE ISHIKAWA, PRES        Koji Ono, s/mgn dir                   

Hiroki Yano, mgn dir                               Shinji Shirako, mgn dir

Kaname Nishiguchi, mgn dir                   Goro Sasaki, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 15,360 M

PAYMENTS                  REGULAR         CAPITAL           Yen 96 M

TREND             SLOW              WORTH            Yen 1,096 M

STARTED                     1953                 EMPLOYES      80

 

 

COMMENT

 

IMPORTER AND WHOLESALER OF PIGMENTS, AND INDUSTRIAL CHEMICALS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 180.9 MILLION, 30 DAYS NORMAL TERMS

HIGHLIGHTS:

 

The subject company was established originally in 1918 by Sakuzo Yamamoto for selling dye-stuffs for textile industry on conclusion of special agency agreement with Hoechst Japan Ltd, on his account.  Incorporated in1953, the firm has been succeeded by the present executives.  This is a trading firm specializing in import and wholesale of coloring materials ranging from pigments for inks, plastics, IT and electronics areas.  Acts import agent for USA and European makers.  Clients are major ink mfrs, chemical mfrs, electronics industry, other, nationwide.

 

 

FINANCIAL INFORMATION

 

The sales volume for Dec/2009 fiscal term amounted to Yen 15,360 million, a 19% down from Yen 119,039 million in the previous term.  Sales were substantially affected by the global economic downturn that erupted in USA by the collapse of Lehman Brothers.  Exports were hurt by the high Yen reducing revenues & profits in Yen terms.  The recurring profit was posted at Yen 165 million and the net profit at Yen 113 million, respectively, compared with Yen 196 million recurring profit and Yen 107 million net profit, respectively, a year ago.

 

For the term that ended Dec 2010 the recurring profit was projected at Yen 250 million and the net profit at Yen 150 million, respectively, on a 20% rise in turnover, to Yen 18,300 million.  Demand recovered sharply in China, Korea, Thailand, Vietnam, other S/E Asian emerging countries.  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 180.9 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Dec 1953

Regd No.:            (Osaka-Chuoku) 091408

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         768,000 shares

Issued:                192,000 shares

Sum:                   Yen 96 million

Major shareholders (%): Osaka Small & Medium Corporate Investment & Promotion Assn (16.7), Employees’ S/Holding Assn (7.9), Kichinosuke Ishikawa (6.3), Senka KK (6.1), Yozo Yamamoto (5.6)

No. of shareholders: 46

 

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

 

 

OPERATION

 

Activities: Imports and wholesales pigments and other industrial chemicals (--100%).

 

Structure of markets in sales: paints (46%), plastics (17%), printing inks (15%), CF, OA electrics (12%), bio, personal care, surfactant, etc (11%).

 

Structure of Products in sales: organic pigments (28%), inorganic pigments (28%), additives & biosides (25%) resins (5%), precision instruments (5%), others (9%).

 

           

Clients: [Paint & ink mfrs] Kansai Paint, DIC, Nippon Paint, Japan Pigment, Toyo Ink Mfg, Brother Ind, Yushiro Chemical Ind, Showa Ink Mfg, Tokushiki Co, other.

            No. of accounts: 800

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Imports as agent for Clariant AG, Chiba Inc, Mittler Toledo AG (--Switz), BASF Ag, Lanxess Ag, Merck KGaA, Evonic Degussa Ag Wacker Chemie GmbH, Cognis Deucheland GmbH (--Germany), Elementis Plc, Lubrizol Corp, Archi Chemical Inc, Air Products & Chemicals Inc (--USA), Sterling Colour (UK), Dromont Srl (Italy), other.

 

Domestic suppliers: Titan Kogyo Ltd, Archi Chemicals Japan, Konica Minolta Corp, other

 

Payment record: Regular

 

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

 

Bank References:

MUFG (Semba-Chuo)

Mizuho Bank (Minami-Semba)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Annual Sales

　

18,300

15,360

19,039

18,725

Recur. Profit

　

250

165

196

179

Net Profit

　

150

113

107

155

Total Assets

　

　

8,260

8,415

9,499

Current Assets

　

　

6,601

6,670

7,631

Current Liabs

　

　

6,470

6,297

7,271

Net Worth

　

　

1,066

883

949

Capital, Paid-Up

　

　

96

96

96

Div.P.Share(¥)

　

　

100.00

100.00

100.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

19.14

-19.32

1.68

6.31

    Current Ratio

 

..

102.02

105.92

104.95

    N.Worth Ratio

..

12.91

10.49

9.99

    R.Profit/Sales

 

1.37

1.07

1.03

0.96

    N.Profit/Sales

0.82

0.74

0.56

0.83

    Return On Equity

..

10.60

12.12

16.33

 

Notes: Forecast (or estimated) figures for the 31/12/2010 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.15

UK Pound

1

Rs.72.59

Euro

1

Rs.62.95

 

 

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

 

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%)

 

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.