MIRA INFORM REPORT

 

 

Report Date :           

16.11.2011

 

IDENTIFICATION DETAILS

 

Name :

MATSUURA & CO LTD

 

 

Registered Office :

1-9-28 Kyutaromachi Chuoku Osaka 541-0056

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

January 1919

 

 

Com. Reg. No.:

(Osaka-Chuoku) 089736

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of dyestuffs, 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 106.1 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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

MATSUURA & CO LTD

 

REGD NAME 

 

Matsuura KK

 

 

MAIN OFFICE

 

1-9-28 Kyutaromachi Chuoku Osaka 541-0056 JAPAN

Tel: 06-6261-8371     Fax: 06-6261-8378

 

*.. The given address is old one; Moved to the caption address on completion of own building office in 1987.

 

URL:                 www.matsuura-c.com   

E-mail:             toiawase@matsuura-c.com          

 

 

ACTIVITIES

 

Import, export, wholesale of dyestuffs, other industrial chemicals

 

 

BRANCHES

 

Tokyo, Nagoya, Fukui

 

 

OVERSEAS

 

Taiwan

 

 

OFFICER(S)

 

Junko Matsuura, ch                    NOBUHISA SUEHIRO, PRES

Etsuhiro Yonamine, dir               Toshikazu Kaji, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES                    FAIR                 A/SALES          Yen 7,755 M

PAYMENTS                  REGULAR         CAPITAL           Yen 60 M

TREND             SLOW              WORTH            Yen 789 M

STARTED                     1919                 EMPLOYES      35

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$50,000 / O/A 14 DAYS

 

MAX CREDIT LIMIT: YEN 106.1 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established originally in 1887 by Koshichi Matsuura for selling natural dying leaves in Kyoto, on his account.  Incorporated in 1919 the firm has been succeeded by his descendants.  This is a trading firm, owned & operated by the Matsuura family, for import, export and wholesale of pigments, dyestuffs, and other industrial chemicals.  Sold its China subsidiary to Japan Monomer in 2007.  Clients include major chemical mfrs, wholesalers, other, nationwide.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2011 fiscal term amounted to Yen 7,755 million, a 2% up from Yen 7,571 million in the previous term.  Market revived after having been affected by the global economic downturn.  Exports were robust into China and other S/E Asian countries.  The recurring profit was posted at Yen 53 million and the net profit at Yen 29 million, compared with Yen 47 million recurring profit and Yen 25 million net profit a year ago.  .

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 55 million and the net profit at yen 30 million, respectively, on a 3% rise in turnover, to Yen 8,000 million.  Exports into China & Taiwan are increasing.  Business is seen steadily expanding.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 106.1 million, on 30 days normal terms.  The proposed amount for 14 days terms is considered well within the firm’s financial capacities.

 

 

REGISTRATION

 

Date Registered:  Jan 1919

Regd No.:        (Osaka-Chuoku) 089736

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　4.8 million shares

Issued: 　1.2 million shares

Sum:                　Yen 60 million

 

Major shareholders (%): Matsuura family (67.5), Employees’ S/Holding Assn (8.9), Yoshie Kuwamura (2.2)

No. of shareholders: 71

 

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

 

 

OPERATION

 

Activities: Imports, exports and wholesales dyestuff & pigments, textile chemicals, functional chemicals, other (--100%).

 

Domestic sales (91.9%), Overseas sales (8.9%), Real Estate business (0.6%)

 

(Handling Items):

 

Dyestuff & pigments: reactive dye, disperse dye, vat dye, basis dye, cationic dye, direct dye, acid dye, pre-metalized dye, acid mordant dyestuff, sulfide dye, naphthol yd, fluorescence dye, compound dyestuff, oil soluble dyestuff, mixing dyestuff, pigments;

 

Textile Chemicals: scouring & bleaching agents, leveling agents, solidity degree improvement, printing paste, lubricating agents, reducing agent, oxidant, PH adjuster;

 

Functional Processes Chemicals (for textile): processed resin for textile, water-repellent agents, fireproofing agents, insecticide agents, anti microorganism agent, anti bacterium agent, natural processed agent, other.

 

Clients: [Mfrs, wholesalers] Sumitomo Chemical, Duskin Co, Sharp Ltd, DIC, NOF Corp, Nissan Chemical, Kurabo Industries, Dynic Corp, Sakai Senryo Shokai, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Sumitomo Chemical, Shin-Etsu Chemical, Nissan Chemical, NOF Corp, Kuraray Corp, Huntsman Japan, Nippon Soda Co, Japan Enviro Chemicals Co, Daiichi Kogyo Seiyaku Co, Taoka Chemical Co, other.

 

Payment record: Regular

 

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

 

Bank References:

·         SMBC (Semba)

·         MUFG (Kawaramachi)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

8,000

7,755

7,571

7,906

Recur. Profit

　

55

53

47

33

Net Profit

　

30

29

25

13

Total Assets

　

　

4,577

4,658

4,421

Current Assets

　

　

2,964

2,928

2,810

Current Liabs

　

　

2,662

2,851

2,844

Net Worth

　

　

789

818

692

Capital, Paid-Up

　

　

60

60

60

Div.P.Share(¥)

　

　

　

　

　

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.16

2.43

-4.24

-13.73

    Current Ratio

 

..

111.34

102.70

98.80

    N.Worth Ratio

..

17.24

17.56

15.65

    R.Profit/Sales

 

0.69

0.68

0.62

0.42

    N.Profit/Sales

0.38

0.37

0.33

0.16

    Return On Equity

..

3.68

3.06

1.88

 

Notes: Forecast (or estimated) figures for the 31/03/2012 fiscal term. 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.56

UK Pound

1

Rs.80.30

Euro

1

Rs.68.79

 

 

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

----

NB

New Business

----

 

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.