MIRA INFORM REPORT

 

 

Report Date :

17.05.2012

 

IDENTIFICATION DETAILS

 

Name :

MITSUBISHI SHOJI PACKAGING CORPORATION

 

 

Registered Office :

Nihombashi Maruzen Tokyu Bldg, 2-3-10 Nihombashi Chuoku Tokyo 103-0027

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

April 1976

 

 

Com. Reg. No.:

0100-01-058097 (Tokyo-Chuoku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of packaging materials, paper boards, other

 

 

No. of Employees :

175

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 and address

 

MITSUBISHI SHOJI PACKAGING CORPORATION

REGD NAME:    Mitsubishi Shoji Packaging KK

MAIN OFFICE:  Nihombashi Maruzen Tokyu Bldg, 2-3-10 Nihombashi Chuoku Tokyo

103-0027 JAPAN

Tel: 03-3243-8200     Fax: 03-3243-8209

 

URL:                 http//:www.mcpackaging.co.jp

E-mail:             info@mcpackaging.co.jp

 

 

ACTIVITIES

 

Import, export, wholesale of packaging materials, paper boards, other

 

BRANCHES   

 

Osaka, Nagoya, Fukuoka

 

 

OFFICER(S)

 

KIMIO OKANO, PRES               Tsutomu Ohyagi, dir

Hitoshi Shiono, dir                      Tsutomu Takahashi, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                 A/SALES          Yen 159,824 M

PAYMENTS  REGULAR CAPITAL           Yen 341 M

TREND UP                    WORTH            Yen 9,826 M

STARTED         1976                 EMPLOYES      175

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN PACKAGING MATERIALS, PAPER

BOARDS, OTHER, AFFILIATED TO MITSUBISHI CORP. 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

                       

HIGHLIGHTS

           

            The subject company was established on the basis of a division separated from Mitsubishi Corp (See RGISTRATION).  This is a trading firm specializing in import, export and wholesale of: packaging materials & machinery, corrugated board paper & products, container boards, paper & paper board products, other.  Clients include major food mfrs, beer breweries, restaurants, chain stores, other, nationwide.

 

 

FINANCIAL INFORMATION

 

            The sales volume for Mar/2011 fiscal term amounted to Yen 159,824 million, a 4% up from Yen 153,907 million in the previous term, as affected by the global economic downturn.  The recurring profit was posted at Yen 3,018 million and the net profit at Yen 1,809 million, respectively, compared with Yen 2,624 million recurring profit and Yen 1,641 million net profit, respectively, a year ago.  .

 

For the term that ended Mar 2012 the recurring profit was projected at Yen 3,100 million and the net profit at Yen 1,900 million, respectively, on a 3% rise in turnover, to Yen 165,000 million.  Final results are yet to be released. 

           

            The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Apr 1976

Regd No.:           0100-01-058097 (Tokyo-Chuoku)

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　1.528 million shares

Issued:             　382,000 shares

Sum:                　Yen 341 million

 

Major shareholders (%): Mitsubishi Corp* (92), Mitsubishi Plastics (8)

 

No. of shareholders: 2

 

*.. Largest trading house and core firms of Mitsubishi Group, founded 1950, listed Tokyo S/E, capital Yen 204,447 million, sales Yen 20,126,221 million, operating profit Yen 271,122 million, recurring profit Yen 458,970 million, net profit Yen 453,849 million, total assets Yen 12,588,513 million, net worth Yen 3,828,287 million, employees 60,520, pres Ken Kobayashi

Consolidated Financials are attached (See SUPPLEMENTS)

 

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

 

 

OPERATION

 

Activities: Imports, exports and wholesales: packaging materials & machinery, corrugated board base paper, corrugated board products, paper & paper boards products, container boards, aluminum foil, other (--100%).

 

Clients: [Mfrs, wholesalers] Lawson, Kirin Breweries, Kirin Beverages, Coca Cola Central Japan, Nisshin Foods, Meiji Dairies, Kentucky Fried Chickens Japan, Fancl, Beruna, other

No. of accounts: 1,000

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Mitsubishi Corp, Mitsubishi Chemical, Mitsubishi Aluminium, Mitsubishi Plastics, Tokai Pulp, other.

 

Payment record: Regular

 

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

 

Bank References:

MUFG (Yaesudori)

Mitsubishi UFJ Trust Bank (H/O)

Relations: Satisfactory

 

 

FINANCES

 (In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

165,000

159,824

153,907

161,826

Recur. Profit

　

3,100

3,018

2,624

1,728

Net Profit

　

1,900

1,809

1,641

1,442

Total Assets

　

　

44,079

41,955

41,525

Current Assets

　

　

41,045

39,169

39,327

Current Liabs

　

　

33,594

32,578

33,131

Net Worth

　

　

9,876

8,873

7,977

Capital, Paid-Up

　

　

341

341

341

Div.P.Share(₯)

　

　

　

　

　

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.24

3.84

-4.89

8.62

    Current Ratio

 

..

122.18

120.23

118.70

    N.Worth Ratio

..

22.41

21.15

19.21

    R.Profit/Sales

 

1.88

1.89

1.70

1.07

    N.Profit/Sales

1.15

1.13

1.07

0.89

    Return On Equity

..

18.32

18.49

18.08

 

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

 

 

SUPPLEMENTS

 

CONSOLIDATED FINANCIALS OF THE PARENT, MITSUBISHI CORPORATION

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2012

31/03/2011

INCOME STATEMENT

 

 

 

  Annual Sales

　

20,126,321

19,233,443

 

  Cost of Sales

18,998,461

18,116,541

 

      GROSS PROFIT

1,127,860

1,149,902

 

  Selling & Adm Costs

856,738

833,761

 

      OPERATING PROFIT

271,122

316,141

 

  Non-Operating P/L

178,848

213,964

 

      RECURRING PROFIT

458,970

530,105

　

      NET PROFIT

453,849

464,543

BALANCE SHEET

 

 

 

 

  Cash

　

1,252,951

1,208,742

 

  Receivables

 

2,379,899

2,133,395

 

  Inventory

 

965,057

970,675

 

  Securities, Marketable

　

　

 

  Other Current Assets

1,577,369

1,680,583

 

      TOTAL CURRENT ASSETS

6,175,276

5,993,395

 

  Property & Equipment

1,970,914

1,735,808

 

  Intangibles

 

　

　

 

  Investments, Other Fixed Assets

4,442,323

3,543,572

 

      TOTAL ASSETS

12,588,513

11,272,775

 

  Payables

 

2,108,171

1,879,958

 

  Short-Term Bank Loans

886,431

656,873

 

　

 

　

　

 

  Other Current Liabs

1,471,364

1,444,466

 

      TOTAL CURRENT LIABS

4,465,966

3,981,297

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

3,760,101

3,188,749

 

  Reserve for Retirement Allw

51,345

48,657

 

  Other Debts

　

482,814

504,127

 

      TOTAL LIABILITIES

8,760,226

7,722,830

 

      MINORITY INTERESTS

 

 

 

Common stock

204,447

203,598

 

Additional paid-in capital

262,039

256,501

 

Retained earnings

3,302,093

3,095,348

 

Evaluation p/l on investments/securities

230,362

236,792

 

Others

 

(150,089)

(90,644)

 

Treasury stock, at cost

(20,565)

(151,650)

 

      TOTAL S/HOLDERS` EQUITY

3,828,287

3,549,945

　

      TOTAL EQUITIES

12,588,513

11,272,775

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2012

31/03/2011

 

Cash Flows from Operating Activities

　

550,694

331,204

 

Cash Flows from Investment Activities

-1,100,913

-262,601

 

Cash Flows from Financing Activities

599,059

76,749

　

Cash, Bank Deposits at the Term End

　

1,252,951

1,208,742

ANALYTICAL RATIOS            Terms ending:

31/03/2012

31/03/2011

 

 

Net Worth (S/Holders' Equity)

3,828,287

3,549,945

 

 

Current Ratio (%)

138.27

150.54

 

 

Net Worth Ratio (%)

30.41

31.49

 

 

Recurring Profit Ratio (%)

2.28

2.76

 

 

Net Profit Ratio (%)

2.26

2.42

 

 

Return On Equity (%)

11.86

13.09

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.29

UK Pound

1

Rs.86.61

Euro

1

Rs.68.87

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

 

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.