MIRA INFORM REPORT
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Report Date : |
07.11.2011 |
IDENTIFICATION DETAILS
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Name : |
CHUKAN BUTSU LTD |
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Registered Office : |
Shiono Nissei Bldg 7F, 2-6-6 Doshomachi
Chuoku Osaka 541-0045 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
February 1990 |
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Com. Reg. No.: |
(Osaka-Chuoku) 084395 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale Of
Industrial Chemicals |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 22.9 Million |
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Status : |
Satisfactory |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
CHUKAN BUTSU LTD
REGD NAME
Chukan Butsu Shoji
KK
MAIN OFFICE
Shiono Nissei Bldg
7F, 2-6-6 Doshomachi Chuoku Osaka 541-0045 JAPAN
Tel:
06-6231-5127 Fax: 06-6222-5126
E-Mail address: info@chukan.co.jp
ACTIVITIES
Import,
export, wholesale of industrial chemicals
BRANCHES
Tokyo,
Hyogo (Distribution Center)
OVERSEAS
Nantong (China), Pune (India)
(rep offices)
OVERSEAS:
Taizhou
Yutai Intermediate Factory (JV with Taizhou Zhogjian Co Ltd, China)
OFFICER(S)
SHIN’ICHI
MITAKE, PRES Hiroki
Kadota, dir
Shingo
Tsukuda, dir Atsushi
Toyoda, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,804 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen
254 M
STARTED 1990 EMPLOYES 21
COMMENT
TRADING
FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 22.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established in order to succeed business
operations of the former E Horibata Co Ltd, founded 1929, for importing
intermediates for colorants, pharmaceuticals, pigments, dyestuffs, other
intermediates from Germany. Reorganized
in 1990, the firm was renamed as captioned.
This is a specialized trading firm for import, export and wholesale of
industrial chemicals: pharmaceuticals intermediates, pigments, dyestuffs, other
industrial chemicals. About 60% of the
goods are imported from China and India.
The firm offers technical transfer, outsourcing and OEM services,
too. Founded Yashiro Distribution Center
in 1994, authorized warehouse for medical supplies, dangerous & poisonous
cargoes. In 1995 formed Taizhou Yutai
Intermediate Factory, Taizhou, Jiangu (China), JV with Taizhou Zhogjian Co Ltd,
China. In 1996 opened Nantong Branch
Office, China. In 2006 opened
representative office in Pune, India.
Clients are specialized chemical mfrs nationwide.
FINANCIAL INFORMATION
The sales volume for Dec/2010 fiscal term amounted to Yen 1,804 million,
a 13% up from Yen 1,598 million in the previous term. Business sharply recovered from the global
economic downturn last year. Exports and
imports from and into China & India were robust and leaped. Price hikes of the materials also
assisted. The recurring profit was
posted at Yen 56 million and the net profit at Yen 60 million, respectively,
compared with Yen 13 million recurring profit and Yen 16 million net profit,
respectively, a year ago. Some
extraordinary profits are involved for this term.
For the current term ending Dec 2011 the recurring profit is projected
at Yen 60 million and the net profit at Yen 20 million, respectively, on a 5%
rise in turnover, to Yen 1,900 million.
Production in China is rising.
Business is rising, particularly due to robust demand from and into
China and India. Demand from other
emerging economies also is rising.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 22.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1990
Regd No.: (Osaka-Chuoku) 084395
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,600 shares
Issued: 800 shares
Sum: Yen 20 million
Major shareholders (%): Chukan Butsu Butsuryu* (46)* Subsidiary
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports
and wholesales food additives, olive oils, other fine chemicals (--55%),
intermediate for pharmaceuticals & agrochemicals, pigments, others (--20%),
technical transfer, consulting, others (--25%).
Clients: [Chemical mfrs,
wholesalers] Clariant (Japan) KK, Nippon Kayaku, Mikuni Pharmaceutical Ind,
Nichijun Chemical, Sansui Shikiso Kogyo, other.
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Chemical mfrs]
Clauson-Kaas (Denmark), Hovione (Portugal), Palident Ltd (Israel), Organica
Feinchemie GmbH (Germany), RRJ Dyes & Intermediates, Balaji Amines Ltd
(--India), Taizhou Yatai Intermediate Factory (China), Dalchem (Russia), other
from Czech, Russia, Hungary, etc.
Also supplied for exports from DIC, Sakai Chemical Ind, Kanto Chemical,
other.
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Osaka)
Kinki
Osaka Bank (Semba)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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1,900 |
1,804 |
1,598 |
2,762 |
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Recur.
Profit |
|
60 |
56 |
13 |
44 |
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Net
Profit |
|
20 |
60 |
16 |
36 |
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Total
Assets |
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1,274 |
1,146 |
1,631 |
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Current
Assets |
|
|
840 |
721 |
1,151 |
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Current
Liabs |
|
|
773 |
552 |
796 |
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Net
Worth |
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|
254 |
195 |
182 |
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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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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.32 |
12.89 |
-42.14 |
13.71 |
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Current Ratio |
|
.. |
108.67 |
130.62 |
144.60 |
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N.Worth Ratio |
.. |
19.94 |
17.02 |
11.16 |
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R.Profit/Sales |
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3.16 |
3.10 |
0.81 |
1.59 |
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N.Profit/Sales |
1.05 |
3.33 |
1.00 |
1.30 |
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Return On Equity |
.. |
23.62 |
8.21 |
19.78 |
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Notes:
Forecast (or estimated) figures for the 31/12/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
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UK Pound |
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
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.