MIRA INFORM REPORT

 

 

Report Date :

 

 

IDENTIFICATION DETAILS

 

Name :

NISSIN TRADING CO LTD

 

 

 

 

Formerly Known As :

 

 

 

 

 

Registered Office :

DIC Bldg 10F, 2-16-2 Sotokanda Chiyodaku Tokyo 101-0021

Import, export of chemicals, tobacco

 

 

 

 

 

Country :

 

 

 

 

 

Financials (as on) :

 

 

 

 

 

Date of Incorporation :

 

 

 

 

 

Com. Reg. No.:

 

 

 

 

 

Legal Form :

 

 

 

 

 

Line of Business :

 

 

 

 

 

No. of Employees :

 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

 

 

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

 

--

 

Status :

 

Payment Behaviour :

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

 

 

 

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

ECONOMIC OVERVIEW

 

 

Source : CIA

Company name and address

NISSIN TRADING CO LTD

REGD NAME:    Nisshin Boeki KK

MAIN OFFICE:  DIC Bldg 10F, 2-16-2 Sotokanda Chiyodaku Tokyo 101-0021

                        Tel: 03-3253-3461     Fax: 03-3253-3934

 

                        *.. Registered at: 3-7-20 Nihombashi Chuoku Tokyo

                                               

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

E-Mail address: info@nissinboeki.co.jp

 

ACTIVITIES: 

Import, export of chemicals, tobacco

BRANCHES:  

Osaka

OVERSEAS:  

China (2) (--subsidiaries)

 

OFFICERS:    

TAIZO ITOH, PRES       

                        Takeyoshi Takahashi, mgn dir

                        Kimio Matsuzawa, dir                            

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY:   

FINANCES        FAIR                 A/SALES          Yen 19,735 M

                        PAYMENTS      REGULAR         CAPITAL           Yen 20 M

                        TREND             SLOW              WORTH                        Yen 2,261 M

                        STARTED         1950                 EMPLOYES      41

 

COMMENT:   

TRADING FIRM SPECIALIZING IN CHEMICALS & TOBACCO.

                        FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY                                    BUSINESS ENGAGEMENTS.

                       

           

HIGHLIGHTS:

           

            The subject company was established on the basis of a trading division separated from Dainippon Ink & Chemicals Co (now DIC Corp), chemical mfr, Tokyo.  This is a trading firm specializing in importing & exporting industrial chemicals & tobacco.  Sales to DIC Corp account for 35% and purchase from DIC accounts for about 20% of total sales.  Clients include chemical firms, mfrs, other.

 

 

FINANCIAL INFORMATION:

           

            The sales volume for Mar/2012 fiscal term amounted to Yen 19,735 million, an almost similar amount of Yen 19,592 million in the previous term.  The recurring profit was posted at Yen 197 million and the net profit at Yen 119 million, compared with Yen 241 million recurring profit and Yen 172 million net losses, respectively, a year ago.

 

            For the current term ending Mar 2013 the recurring profit is projected at Yen 200 million and the net profit at Yen 120 million, respectively, on a 3% rise in turnover, to Yen 20,300 million.  Business is seen steadily expanding. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 288.7 million, on 30 days normal terms.

 

 

REGISTRATION

 

            Date Registered:  Feb 1950

            Regd No.:         0100-01-053203 (Tokyo-Chuoku)

            Legal Status:      Limited Company (Kabushiki Kaisha)

            Authorized:         1.6 million shares

            Issued:                400,000 shares

            Sum:                   Yen 20 million

  Major shareholders (%): Nissei Fudosan Co Ltd* (100)

              *.. Real estate owner, owned by DIC Corporation 

           

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

 

 

 

 

OPERATION:

           

Activities: Trading firm for import, export and wholesale of chemicals, oils & fats, building materials, packaging equipment, tobacco, others (--100%).

 

(Handling Items):

Chemicals: Solvents, monomers, organic chemicals, synthetic resins (DIC products), modifiers, intermediates for dyestuff & paints, inorganic chemicals, other;

Oils & Fats: vegetable oils & fats, animal oils & fats, fatty acids;

Building Materials: exterior materials & decorations, thermal insulation materials, housing equipment, other;

Tobacco: cigarettes, cigars, pipe tobacco, other.

 

Clients: [Mfrs, wholesalers] DIC (35%), Nippon Rietec Co, Nippon Polyurethane Ind, Dainippon Paints, Tamura Corp, Toshiba Corp, Showa Varnish Co, Nippon Soda Co, Yantai Huada Chemical, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] DIC (20%), Nippon Polyurethane Ind, Mitsubishi Shoji Chemical, DH Materials, Toa Gosei Co, Teijin Chemicals Ltd, Suzhou Lintong Chemical, other

 

Payment record: Regular

 

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

 

            Bank References:

                        MUFG (Nihombashi)

                        Mizuho Bank (Yaesuguchi)

                        Relations: Satisfactory

 

 

 

 

 

 

 

 

 

FINANCES

 (In Million Yen)

       Terms Ending:

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

　

20,300

19,735

19,592

17,792

Recur. Profit

　

200

197

241

305

Net Profit

　

120

119

172

306

Total Assets

　

　

12,291

12,830

15,250

Current Assets

　

　

5,205

4,934

4,520

Current Liabs

　

　

4,368

4,654

6,183

Net Worth

　

　

2,261

2,524

4,557

Capital, Paid-Up

　

　

20

20

20

Div.P.Share(¥)

　

　

　

　

　

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.86

0.73

10.12

-21.26

    Current Ratio

 

..

119.16

106.02

73.10

    N.Worth Ratio

..

18.40

19.67

29.88

    R.Profit/Sales

 

0.99

1.00

1.23

1.71

    N.Profit/Sales

0.59

0.60

0.88

1.72

    Return On Equity

..

5.26

6.81

6.71

 

Notes: Forecast (or estimated) figures for the 31/03/2013 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.07

UK Pound

1

Rs.84.95

Euro

1

Rs.68.24

 

 

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.