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Report Date : |
24.11.2012 |
IDENTIFICATION DETAILS
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Name : |
MATSUURA & CO LTD |
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Registered Office : |
1-9-28 Kyutaromachi Chuoku |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
January 1919 |
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Com. Reg. No.: |
(Osaka-Chuoku) 089736 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of dyestuffs, other industrial
chemicals |
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No. of Employees : |
35 employees |
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 : |
Slow but Correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
japan - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a strong
work ethic, mastery of high technology, and a comparatively small defense
allocation (1% of GDP) helped Japan develop a technologically advanced economy.
Two notable characteristics of the post-war economy were the close interlocking
structures of manufacturers, suppliers, and distributors, known as keiretsu,
and the guarantee of lifetime employment for a substantial portion of the urban
labor force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - a 10% average in the 1960s,
a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed
markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s
that required a protracted period of time for firms to reduce excess debt,
capital, and labor. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001, and
third-place India, which edged out Japan in 2011. A sharp downturn in business
investment and global demand for Japan's exports in late 2008 pushed Japan
further into recession. Government stimulus spending helped the economy recover
in late 2009 and 2010, but the economy contracted again in 2011 as the massive
9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies
remain tight because Japan has temporarily shut down almost all of its nuclear
power plants after the Fukushima Daiichi nuclear reactors were crippled by the
earthquake and resulting tsunami. Estimates of the direct costs of the damage -
rebuilding homes, factories, and infrastructure - range from $235 billion to
$310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko
NODA has proposed opening the agricultural and services sectors to greater
foreign competition and boosting exports through membership in the US-led
Trans-Pacific Partnership trade talks and by pursuing free-trade agreements
with the EU and others, but debate continues on restructuring the economy and
reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent
deflation, reliance on exports to drive growth, and an aging and shrinking
population are other major long-term challenges for the economy.
|
Source : CIA |
MATSUURA & CO LTD
Matsuura KK
1-9-28 Kyutaromachi Chuoku Osaka 541-0056
JAPAN
Tel: 06-6261-8371
Fax: 06-6261-8378
URL: www.matsuura-c.com
E-mail: toiawase@matsuura-c.com
Import,
export, wholesale of dyestuffs, other industrial chemicals
Tokyo,
Nagoya, Fukui
Taiwan
NOBUHISA
SUEHIRO, PRES Junko Matsuura, ch
Etsuhiro
Yonamine, dir Toshikazu
Kaji, dir
Yen
Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 7,864 M
PAYMENTS Slow but Correct CAPITAL Yen
60 M
TREND UP WORTH Yen 781 M
STARTED 1919 EMPLOYES 35
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$50,000 / O/A 14 DAYS
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.
The sales volume for Mar/2012 fiscal term amounted to Yen 7,864 million,
a 1% up from Yen 7,755 million in the previous term. Exports were hurt by the high Yen, reducing
earnings and profits in Yen terms.
Export volumes were increased.
The recurring profit was posted at Yen 51 million and the net profit at
Yen 15 million, compared with Yen 53 million recurring profit and Yen 29
million net profit a year ago. .
For the current term ending Mar 2013 the recurring profit is projected
at Yen 50 million and the net profit at Yen 15 million, respectively, on a 2%
rise in turnover, to Yen 8,000 million.
Exports continue increasing particularly into China. Business is seen steadily expanding.
The financial situation is considered FAIR and good for ORDINARY business
engagements.
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 (%): Junko Matsuura (27), Kyoko
Matsuura (19), Mitsuo Matsuura (14), Employees’ S/Holding Assn (8)
No. of shareholders: 72
Nothing
detrimental is known as to the commercial morality of executives.
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, Huntsuman
International LLC, Seiren Shoji, 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: Slow but
Correct
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC
(Semba)
MUFG
(Kawaramachi)
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 |
|
8,000 |
7,864 |
7,755 |
7,571 |
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Recur.
Profit |
|
50 |
51 |
53 |
47 |
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Net
Profit |
|
15 |
15 |
29 |
25 |
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Total
Assets |
|
|
4,372 |
4,577 |
4,658 |
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Current
Assets |
|
|
2,844 |
2,964 |
2,928 |
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Current
Liabs |
|
|
2,590 |
2,662 |
2,851 |
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Net
Worth |
|
|
781 |
789 |
818 |
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Capital,
Paid-Up |
|
|
60 |
60 |
60 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.73 |
1.41 |
2.43 |
-4.24 |
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Current Ratio |
|
.. |
109.81 |
111.34 |
102.70 |
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N.Worth Ratio |
.. |
17.86 |
17.24 |
17.56 |
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R.Profit/Sales |
|
0.63 |
0.65 |
0.68 |
0.62 |
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N.Profit/Sales |
0.19 |
0.19 |
0.37 |
0.33 |
|
|
Return On Equity |
.. |
1.92 |
3.68 |
3.06 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Report Prepared by
: |
MNL |
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 |
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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 |
|
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.