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Report Date : |
09.07.2012 |
IDENTIFICATION DETAILS
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Name : |
ITOH OIL CHEMICALS CO LTD |
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Registered Office : |
16-41 Suehirocho Yokkaichi Mie-Pref
510-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
June 1946 |
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Com. Reg. No.: |
(Mie-Yokkaichi) 014316 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of castor oil & derivatives |
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No. of Employees : |
72 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
ITOH OIL CHEMICALS CO LTD
Itoh Seiyu KK
(Seiyu means oil-refining)
16-41 Suehirocho
Yokkaichi Mie-Pref 510-0052 JAPAN
Tel:
059-352-5101 Fax: 059-354-3851
E-mail: info@itoh-oilchem.co.jp
Mfg of
castor oil & derivatives
Tokyo,
Osaka
Shanghai
At the
caption address
Goro
Itoh, ch MASATSUGU
AKITA, PRES
Takashi
Hamaguchi, dir Sadaaki Tsuji, dir
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 5,839 M
PAYMENTS No
Complaints CAPITAL Yen 200 M
TREND UP WORTH Yen 5,600 M
STARTED 1946 EMPLOYES 72
MFR OF
CASTOR OIL.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Goro Itoh in order to make most
of his experience in the subject line of business. This is a specialized mfr, wholly owned by
the Itoh family, of refined castor oil & derivatives, polyurethane resins,
lubricants, additives for coatings, other.
Clients include major paint mfrs nationwide. Goods are also exported.
The sales volume for Mar/2012 fiscal term amounted to Yen 5,839 million,
a 36% up from Yen 5,657 million in the previous term. Demand rose.
Exports were robust. High Yen ate
into profits in Yen terms. The recurring
profit was posted at Yen 94 million and the net profit at Yen 36 million,
respectively, compared with Yen 318 million recurring profit and Yen 183
million net profit, respectively, a year ago.
.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 95 million and the net profit at Yen 40 million, respectively, on a 3%
rise in turnover, to Yen 6,000 million.
Exports into China and other S/E Asian countries keep growing.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun 1946
Regd No.: (Mie-Yokkaichi) 014316
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 160,000
shares
Issued: 40,000 shares
Sum: Yen 200 million
Major shareholders (%):
Hideko Itoh (15), Goro Itoh (10), Shizuko Itoh (5)
No. of shareholders: 144
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
refined castor oil & derivatives, polyurethane resins, lubricants,
additives for coatings, printing inks & adhesives, other (--100%)
Clients: [Mfrs,
wholesalers] Nippon Polyurethane Ind, Chugoku Marine Paints, Kaneda Co, Nagase
& Co, Kansai Paints, Dainippon Paints, Nippon Paints, Sanyo Chemical Ind,
Matsumoto Yushi-Seiyaku Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui & Co, Kaneda Co, Itochu Chemical Frontier, Nagase &
Co, Goto Chemical, Tokai Oil & Chemicals, other
Payment record: No
Complaints
Location:
Business area in Yokkaichi. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho
Bank (Yokkaichi)
Mie
Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
|
6,000 |
5,839 |
5,657 |
5,158 |
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Recur.
Profit |
|
95 |
94 |
318 |
544 |
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Net
Profit |
|
40 |
36 |
183 |
247 |
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Total
Assets |
|
|
6,765 |
6,742 |
6,770 |
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Current
Assets |
|
|
4,056 |
3,829 |
4,221 |
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Current
Liabs |
|
|
843 |
838 |
989 |
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Net
Worth |
|
|
5,600 |
5,608 |
5,478 |
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Capital,
Paid-Up |
|
|
200 |
200 |
200 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.76 |
3.22 |
9.67 |
-8.63 |
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Current Ratio |
|
.. |
481.14 |
456.92 |
426.79 |
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N.Worth Ratio |
.. |
82.78 |
83.18 |
80.92 |
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R.Profit/Sales |
|
1.58 |
1.61 |
5.62 |
10.55 |
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N.Profit/Sales |
0.67 |
0.62 |
3.23 |
4.79 |
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Return On Equity |
.. |
0.64 |
3.26 |
4.51 |
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Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.42 |
|
UK Pound |
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.