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Report Date : |
17.07.2013 |
IDENTIFICATION DETAILS
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Name : |
MATSUMOTO TRADING CO LTD |
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Registered Office : |
PMO Nihombashi Muromachi Bldg 5F, 1-13-7 Nihombashi-Muromachi Chuoku Tokyo 103-0022 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
August 1945 |
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Com. Reg. No.: |
0100-01-057794 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer import, export, wholesale of cosmetic/pharmaceutical ingredients, others |
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No. of Employees : |
40 |
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 : |
Regular |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
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 small agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. While self-sufficient in rice production, Japan imports about 60% of its food on a caloric basis. 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. Modest economic growth continued after 2000, but the economy has fallen into recession three times since 2008. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan 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 and the ensuing tsunami in March disrupted manufacturing. The economy has largely recovered in the two years since the disaster, but reconstruction in the Tohoku region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared the economy his government's top priority; he has pledged to reconsider his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus and regulatory reform and has said he will press the Bank of Japan to loosen monetary policy. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2012 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 2012. The new government will continue a longstanding debate 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
MATSUMOTO TRADING CO LTD
REGD NAME: KK
Matsumoto Kosho
MAIN OFFICE: PMO Nihombashi Muromachi Bldg 5F, 1-13-7
Nihombashi-Muromachi Chuoku Tokyo 103-0022 JAPAN
Tel: 03-3241-5161 Fax: 03-3241-5169
:*.. Moved to the
caption address in Jan 2013 from the former as given
URL: http://www.matsumoto-trade.co.jp
E-Mail address: international_business@matsumoto-trade.co.jp
Mfg, import, export,
wholesale of cosmetic/pharmaceutical ingredients, others
Osaka
At the caption
address (laboratory); mfg is done by a subsidiary, Matsumoto
Fine Chemical Co
Ltd (Chiba)
IHEI MATSUMOTO,
Yasukazu
Matsumoto, dir
Tokufumi Tanaka,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 8,801 M
PAYMENTS REGULAR CAPITAL Yen
30 M
TREND UP WORTH Yen 2,013 M
STARTED 1945 EMPLOYES 40
TRADING FIRM SPECIALIZING IN COSMETIC/PHARMACEUTICAL
INGREDIENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was
established originally in 1663 as Iwashiya Matsumoto Ihei Shokai, as a private enterprise,
and was incorporated in 1945. This is a
trading firm, with mfg division, specializing in import, export and wholesale
of cosmetic and pharmaceutical ingredients (See OPERATION). Goods are
imported from and exported to China, Thailand and other S/E Asian
countries. Has overseas partners in
China & Thailand (See OPERATION). Mfg is done by a subsidiary, Matsumoto Fine
Chemical Co Ltd (See REGISTRATIO). Clients include major cosmetics and
pharmaceutical makers, nationwide.
The sales volume for
Mar/2013 fiscal term amounted to Yen 8,801 million, a 2% up from Yen 8,652
million in the previous term. This is
mainly due to the weaker Yen raising revenues & profits in Yen terms. The recurring profit was posted at Yen 516 million
and the net profit at Yen 323 million, respectively, compared with Yen 476
million recurring profit and Yen 298 million net profit, respectively, a year
ago.
For the current term
ending Mar 2014 the recurring profit is projected at Yen 540 million and the
net profit at Yen 350 million, respectively, on a 5% rise in turnover, to Yen
9,250 million. Exports are rising. Business is seen steadily expanding.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Aug
1945
Regd No.:
0100-01-057794 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2.4 million shares
Issued: 604,920 shares
Sum: Yen 30,246,000.
Major
shareholders (%): Ihei Matsumoto (51)
No. of shareholders: 18
Nothing
detrimental is known as to the commercial morality of executives.
*.. Matsumoto Fine Chemical Co Ltd, Chiba,
mfr of organometallic compounds & raw
materials for cosmetics, employees 40, pres
Miyozo Taga
Activities: Trading firm,
with mfg division, for import, export and wholesale of cosmetic &
pharmaceutical ingredients, others (--100%)
Mfg is done by a subsidiary, Matsumoto Fine
Chemical Co Ltd (Chiba)
Overseas Partners: China Evephon Enterprises
Co Ltd, Thailand Forecus Co Ltd.
(Handling
Items): Fatty acid polyglyceryls, acrylic resin plasticizers, phenol
sulfonates, conditioning polymers, polymeric emulsifying thickeners, aluminum
hydroxyl chloride, UV absorbers, silicones, a variety of emulsifiers &
oils, pearl pigments, high performance skin care ingredients, film formers
& viscosity-building resins, long-lasting cooling agent, ester oils &
lanolin derivatives, naturally derived gelling agents, high performance skin
care ingredients, foaming, cleansing & conditioning agents, rice-based
ingredients, skin care, hair care, active ingredients, active spherical
particles & active ingredients, many other types of cosmetic ingredients
Overseas
partners: China Evephon Enterprises Co Ltd, Thailand Forecus Co Ltd
Clients: [Mfrs,
wholesalers] Kose Corp, Shiseido Co, Kao Corp, Rohto Pharmaceutical Co, Kanebo
Cosmetics Inc, Kracie Home Products, Shiseido Co group firms, and their group
firms, other
Exports to China, Thailand, other S/E Asian countries
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Matsumoto Fine Chemical Co, Nalco Japan, Clariant Japan, Dow
Corning Toray, Nippon NSC Ltd, Quest International, Nippon Fine Chemicals,
Arysta Life Science, Tsuno Food Ind, other
Imports from China, Thailand, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Ohdenmacho)
SMBC (Nihombashi)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
9,250 |
8,801 |
8,652 |
9,214 |
|
Recur.
Profit |
|
540 |
516 |
476 |
445 |
|
Net
Profit |
|
350 |
323 |
298 |
261 |
|
Total
Assets |
|
|
4,642 |
4,502 |
4,153 |
|
Current
Assets |
|
|
3,943 |
3,847 |
3,625 |
|
Current
Liabs |
|
|
2,583 |
2,668 |
2,653 |
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Net
Worth |
|
|
2,013 |
1,758 |
1,478 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
|
Div.Ttl.
Million(¥) |
|
|
17.9 |
17.9 |
17.9 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.10 |
1.72 |
-6.10 |
8.71 |
|
|
Current Ratio |
|
.. |
152.65 |
144.19 |
136.64 |
|
N.Worth Ratio |
.. |
43.36 |
39.05 |
35.59 |
|
|
R.Profit/Sales |
|
5.84 |
5.86 |
5.50 |
4.83 |
|
N.Profit/Sales |
3.78 |
3.67 |
3.44 |
2.83 |
|
|
Return On Equity |
.. |
16.05 |
16.95 |
17.66 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.39 |
|
|
1 |
Rs.89.89 |
|
Euro |
1 |
Rs.77.72 |
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 |
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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.