MIRA INFORM REPORT

 

 

Report Date :           

18.03.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

TAACHIBANA CHEMICALS CO LTD

 

 

Registered Office :

1808 Wanize Jonanmachi Kumamoto 861-4222

 

 

Country :

Japan

 

 

Financials (as on) :

30.09.2010

 

 

Date of Incorporation :

June 1976

 

 

Com. Reg. No.:

(Tokyo-Chiyodaku) 022254

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of pigment, dyestuffs

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 8.7 Million

Status :

Small Company 

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

 

TAACHIBANA CHEMICALS CO LTD

 

 

REGD NAME 

 

Tachibana Kasei KK

 

 

MAIN OFFICE

 

1808 Wanize Jonanmachi Kumamoto 861-4222 JAPAN

Tel: 0954-0223     Fax: 0964-28-0225

 

*.. Registered at: 1-8-17 Iwamotocho Chiyodaku Tokyo

 

URL:                 Nil       

 

 

ACTIVITIES  

 

Mfg of pigment, dyestuffs

 

 

BRANCHES   

 

Nil

 

 

FACTORIES  

 

At the caption address

 

 

OFFICER(S)

 

YOICHIRO MORISHITA, PRES

Toshikazu Tatsumi, dir

Yukio Takeuchi, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 460 M

PAYMENTS                  REGULAR         CAPITAL           Yen 50 M

TREND             ^STEADY          WORTH            Yen 512 M

STARTED         1          976                   EMPLOYES      31

 

 

COMMENT    

 

MFR OF INDUSTRIAL CHEMICALS, OWNED BY MORISHITA & CO LTD. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

MAX CREDIT LIMIT: YEN 8.7 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established on the basis of pigment/dyestuffs mfg division (mfg plant) separated from Morishita & Co Ltd (See REGISTRATION).   Yoichiro Morishita is concurrently pres at the parent.  This is a division mfr of pigments, dyestuffs, other industrial chemicals.  Clients include industrial chemical mfrs, other.

 

 

FINANCIAL INFORMATION

 

Financials are consolidated by the parent, Morishita & Co Ltd, and only partially disclosed.

 

The sales volume for Sept/2009 fiscal term amounted to Yen 460 million, a 22% down from Yen 588 million in the previous term, as affected substantially by the global economic downturn.  The net profit was posted at Yen 62 million, compared with Yen 73 million a year ago.  .

 

For the term that ended Sept 2010 the net profit was projected at Yen 65 million, on a 9% rise in turnover, to Yen 500 million.  The parent reported sales of Yen 18,152 million, up 20% from the previous term (the figures are confirmed)   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 8.7 million, on 30 days normal terms. 

 

REGISTRATION

 

Date Registered:  Jun 1976

Regd No.:            (Tokyo-Chiyodaku) 022254

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　400,000 shares

Issued:             　100,000 shares

Sum:                　Yen 50 million

Major shareholders (%): Morishita & Co Ltd* (100)

 

*.. Mfr of pigments, dyestuffs, other industrial chemicals, Tokyo, founded 1948, capital Yen 125 million, sales Yen 18,152 million (up 20% from previous term), net profit Yen 433 million, employees 73, pres Yoichiro Morishita, concurrently

           

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

 

 

OPERATION

 

Activities: Manufactures organic pigment, synthetic dyestuffs, other chemicals (--100%)

 

Clients: [Mfrs, wholesalers] Morishita & Co, Koshigaya Chemical Ind, Toho Pigment Mfg Ind, other chemical industries

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Morishita & Co, other

 

Payment record: Regular

 

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

 

Bank References:

MUFG (Ohdenmacho)

Mizuho Bank (Yokoyamacho)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

30/09/2010

30/09/2009

30/09/2008

30/09/2007

Annual Sales

　

500

460

588

515

Recur. Profit

　

　

　

　

　

Net Profit

　

65

62

73

68

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

512

450

377

Capital, Paid-Up

　

　

50

50

50

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

8.70

-21.77

14.17

8.42

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

13.00

13.48

12.41

13.20

 

Notes: Financials are consolidated by the parent, Morishita & Co Ltd, and only partially disclosed.

Forecast (or estimated) figures for the 30/09/2010 fiscal term. 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.24

UK Pound

1

Rs.72.57

Euro

1

Rs.63.00

 

 

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%)

 

 

 

 

 

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.