MIRA INFORM REPORT
|
Report Date : |
30.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
KENKO CORPORATION |
|
|
|
|
Registered Office : |
Mizushima Bldg 3F, 3-2-11 Uchikanda
Chiyodaku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
December 1965 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, Export, Wholesale of 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 224.9 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) |
|
|
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
KENKO CORPORATION
REGD NAME
KK Kenko Tsusho
MAIN OFFICE
Mizushima Bldg 3F,
3-2-11 Uchikanda Chiyodaku
Tel:
03-3258-8061 Fax: 03-3258-8060
URL: http://www.kenkoco.com
E-Mail
address: contact@kenkoco.com
ACTIVITIES
Import,
export, wholesale of industrial chemicals
BRANCHES
OVERSEAS
(Affiliates): Soft Gel Technologies Inc (USA); Chemco
Industries Inc (USA, with branches in New York, Los Angeles, Fresco, Utah); Ski
Plastic Co (China);
Kenko-Balley
Enterprises (Shenzhen) Ltd (
OFFICERS
SATOMI
TSUCHIBE, PRES & CEO Yasushi
Nakai, s/mgn dir
Masahiro
Sasaki, mgn dir Tateo
Kurusu, mgn dir
Yoshifumi Bohno, dir Shunji Ohtaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 12,373 M
PAYMENTS REGULAR CAPITAL Yen 195 M
TREND SLOW WORTH Yen
2,167 M
STARTED 1965 EMPLOYES 56
COMMENT
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 224.9 MILLION, 30 DAYS NORMAL TERMS.
.
HIGHLIGHTS
The subject company
was established by Satomi Tsuchibe in order to make most of his experience in the subject line of
business. This is a trading house for
import, export and wholesale of food
additives, synthetic dyestuffs, organic pigments, fertilizing chemicals, seeds and other industrial chemicals. The firm has 6 divisions: Health-care Div;
Food Additive Div; Fine Chemicals Div; Feed Additive Div; Agricultural Div;
Mfg/R&D Div. Strong business ties
with domestic major chemical firms, such as Nisshin Pharma Inc, a major mfr of
chemicals, and Chisso Corp, a leading mfr of fine chemicals, both having shares
in the subject. Actively engaged in overseas operations with
offices in
FINANCIAL INFORMATION
The sales volume for
Mar/2010 fiscal term amounted to Yen 12,373 million, a 19% down from Yen 15,330
million in the previous term, as substantially affected by the global economic
downturn. Imports/exports revenues were
hurt by the high Yen, reducing considerably in Yen terms. The recurring profit was posted at Yen 160
million and the net profit at Yen 82 million, respectively, compared with Yen
91 million net profit a year ago.
For the current term
ending Mar 2011 the recurring profit is projected at Yen 170 million and the
net profit at Yen 90 million, respectively, on a 5% rise in turnover, to Yen 13,000
million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 224.9
million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec
1965
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.3 million shares
Issued: 390,500 shares
Sum: Yen
195.25 million
Major shareholders (%): Satomi Tsuchibe (31.0)), Yoko
Tsuchibe (7.3), Chisso Corp (2.5), Nisshin Pharma (2.5), MJ Investment Fund
(2.0)
No. of shareholders: 41
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Trading
house for import, export and wholesale of industrial chemicals (--100%):
(Handling items by Divisions):
Fine Chemicals Div: aliphatic organic chemicals, aromatic organic chemicals, oil & fats, plastic additives, industrial additives, natural chemicals, rare earth chemicals, drug & pharmaceutical intermediates, materials for electronics industries;
Feed Additives Div: chlorine chloride, DI-Methionine, calcium
L-acerbate, vitamin AD3, amino acid, minerals;
Fertilizer Div: seaweed origin fertilizer, soil conditioner,
fermented soil, perennial rye grass, tall fescue, zoysia Japonica, turf-grass
mixture;
Health-care Div: plant extract, powder & liquid;
Food Additives Div: guar gum, ascorbic acid, monosodium
glutamate, sorbet, other;
Agriculture Div: Exclusive agent for Seed Research of Oregon
Inc,
Export Agent for: Nisshin Pharma for exporting their principal product,
Co-enzyme Q10 mainly to
Chisso Corporation for exporting their fine & organic
chemicals mainly to US & European markets.
Clients: [Chemical mfrs, wholesalers] BASF Japan, Soft Gel Technology, Fujikawa
Pharmaceutical, Sakata Seeds, Ashland Chemical, Chemco Ind, Nippon Kayaku Co,
Maruzen Yuka Shoji, Shiratori Pharmaceutical, Tokiwa Phytochemical Co, other.
Exports to
No. of accounts: 2,000
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Kaneka Corp, Mitsubishi Corp, Nisshin Pharma,
Chisso Corp, Ube Ind, Mitsui Chemical, Tokiwa Phytochemical, other.
Imports from Seed
Research of Oregon Inc (
Payment record: Regular
Location: Business area in
Bank References:
Mizuho
Bank (Nihombashi)
MUFG
(Kanda-Ekimae)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
|
|
Annual
Sales |
|
13,000 |
12,373 |
15,330 |
12,822 |
|
Recur.
Profit |
|
170 |
160 |
|
|
|
Net
Profit |
|
90 |
82 |
91 |
90 |
|
Total
Assets |
|
|
9,118 |
9,390 |
8,900 |
|
Current
Assets |
|
|
6,567 |
6,758 |
6,196 |
|
Current
Liabs |
|
|
6,567 |
6,159 |
6,196 |
|
Net
Worth |
|
|
2,167 |
2,088 |
2,012 |
|
Capital,
Paid-Up |
|
|
195 |
195 |
195 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.07 |
-19.29 |
19.56 |
7.77 |
|
|
Current Ratio |
|
.. |
100.00 |
109.73 |
100.00 |
|
N.Worth Ratio |
.. |
23.77 |
22.24 |
22.61 |
|
|
R.Profit/Sales |
|
1.31 |
1.29 |
.. |
.. |
|
N.Profit/Sales |
0.69 |
0.66 |
0.59 |
0.70 |
|
|
Return On Equity |
.. |
3.78 |
4.36 |
4.47 |
|
Notes:
Forecast (or estimated) for the 31/03/2011 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.67 |
|
|
1 |
Rs.71.63 |
|
Euro |
1 |
Rs.63.09 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.