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Report Date : |
01.04.2013 |
IDENTIFICATION DETAILS
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Name : |
MATSUI SHIKISO CHEMCAL CO LTD |
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Registered Office : |
64 Kamikazan Sakuradanicho Yamashinaku
Kyoto 607-8466 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2012 |
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Date of Incorporation : |
November 1966 |
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Com. Reg. No.: |
1300-01-013347
(Kyoto-Yamashinaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of pigment, ink, dyestuffs |
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No. of Employees : |
185 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Usually 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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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 |
MATSUI SHIKISO CHEMCAL CO LTD
KK Matsui Shikiso
Kagaku Kogyosho
64 Kamikazan
Sakuradanicho Yamashinaku Kyoto 607-8466 JAPAN
Tel:
075-594-5611 Fax: 075-501-8106
URL: http://www.msc-color.co.jp
E-Mail address: info@msc-color.co.jp
Mfg of
pigment, ink, dyestuffs, other
Tokyo,
Osaka
USA,
China
At the
caption address
HARUHIKO
MATSUI, PRES Keishiro Matsui, mgn
dir
Ryoichi
Morishita, dir Yosuke Kitagawa,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 3,096 M
PAYMENTS Usually Correct CAPITAL Yen
49 M
TREND UP WORTH Yen 363 M
STARTED 1966 EMPLOYES 185
MFR OF INKS, PIGMENTS, DYESTUFFS, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1923 by Kenji Matsui
for making crayon, paints, other, on his account, and was incorporated in
1966. This is a specialized mfr of inks,
pigments, coatings, dyestuffs, other.
Inks are for use in screen printing, textiles, wallpapers, other. Operates offices in USA and China. Clients include chemical mfrs, ink mfrs, other
The sales volume for Oct/2012 fiscal term amounted to Yen 3,096 million,
a 2% up from Yen 3,039 million in the previous term. The operations came back to profitability
from the deficit operations in the last term, posting Yen 44 million recurring
profit and Yen 44 million net profit, respectively, compared with Yen 162
million recurring loss and Yen 640 million net losses, respectively, a year
ago.
For the current term ending Oct 2013 the recurring profit is projected
at Yen 50 million and the net profit at Yen 45 million, respectively, on a 3%
rise in turnover, to Yen 3,200 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Nov 1966
Regd No.: 1300-01-013347 (Kyoto-Yamashinaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
396,000 shares
Issued:
99,000 shares
Sum: Yen 49.5 million
Major shareholders (%): Haruhiko Matsui (13), other
No. of shareholders: 14
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures pigments, inks, ink products, aroma ink, textile printing binder, screen printing ink, wallpaper, textile, others, coatings, inkjet ink, transfer unit, others (--100%)
Clients: [Mfrs, wholesalers] Nagase Color Chemical, Inabata & Co, Konishi Mark Co, Maruzen Senryo Yakuhin (dyestuff chemicals), Matsui International USA, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nagase Color Chemical, Inabata & Co, Maeda Industry Chemicals, Miki & Co, Hika & Co, other
Payment record: Usually Correct
Location: Business area in Kyoto. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Bank of Kyoto (Kawaramachi)
Shiga Bank (Yamashina)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/10/2013 |
31/10/2012 |
31/10/2011 |
31/10/2010 |
|
|
Annual
Sales |
|
3,200 |
3,096 |
3,039 |
3,432 |
|
Recur.
Profit |
|
50 |
44 |
-162 |
91 |
|
Net
Profit |
|
45 |
44 |
-640 |
57 |
|
Total
Assets |
|
|
3,928 |
3,940 |
4,939 |
|
Current
Assets |
|
|
1,368 |
1,346 |
1,731 |
|
Current
Liabs |
|
|
1,475 |
1,416 |
1,129 |
|
Net
Worth |
|
|
363 |
318 |
960 |
|
Capital,
Paid-Up |
|
|
49 |
49 |
49 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.36 |
1.88 |
-11.45 |
16.06 |
|
|
Current Ratio |
|
.. |
92.75 |
95.06 |
153.32 |
|
N.Worth Ratio |
.. |
9.24 |
8.07 |
19.44 |
|
|
R.Profit/Sales |
|
1.56 |
1.42 |
-5.33 |
2.65 |
|
N.Profit/Sales |
1.41 |
1.42 |
-21.06 |
1.66 |
|
|
Return On Equity |
.. |
12.12 |
-201.26 |
5.94 |
|
Notes:
Forecast (or estimated) figures for the 31/10/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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 |
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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 |
|
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.