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Report Date : |
22.07.2013 |
IDENTIFICATION DETAILS
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Name : |
MITSUI BUSSAN PLASTICS LTD |
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Registered Office : |
JA Bldg 7/8F’s, 1-3-1 Ohtemachi Chiyodaku Tokyo 100-6808 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
August, 1947 |
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Com. Reg. No.: |
0100-01-033507 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of industrial chemicals, plastic products,
other |
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No. of Employees : |
583 |
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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Maximum Credit Limit: |
Yen 1,695.9 million |
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Status : |
Good |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
MITSUI BUSSAN
PLASTICS LTD (Renamed in Jan 2013 from the one as given)
Mitsui Bussan Plastics KK
JA Bldg 7/8F’s, 1-3-1 Ohtemachi Chiyodaku Tokyo 100-6808 JAPAN
Tel: 03-6328-5000
Fax: 03-6328-5390
URL: http://www.mitsui-plastics.com
E-Mail address: (thru the URL)
Import, export, wholesale of industrial chemicals, plastic products,
other
Sapporo, Nagoya, Osaka, Kagawa, Hiroshima, Fukuoka
144 locations worldwide (Mitsui & Co’s networks)
Shanghai, Hong Kong, Taiwan, Philippines (--representatives)
AKIO YAMAMOTO, PRES Yuji
Tanaka, s/mgn dir
Yutaka Koike, mgn dir Haruo
Sugiyama, mgn dir
Takaki Nishibayashi, mgn dir Tadashi
Yoshimoto, mgn dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 260,220 M
PAYMENTS REGULAR CAPITAL Yen
626 M
TREND UP WORTH Yen 7,273 M
STARTED 1947 EMPLOYES 583
TRADING FIRM SPECIALIZING INDUSTRIAL CHMICALS, OTHERS, OWNED BY MITSUI
& CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 1,695.9 MILLION, 30 DAYS NORMAL TERMS
The subject company was established on the basis of a division separated
from Mitsui & Co Ltd (See REGISTRATION). This is a trading firm for import, export and
wholesale of industrial chemicals, others, having five business units: general plastics
resin unit, functional materials unit, industrial materials unit, chemicals
& adhesives unit and specialty films unit.
In Jan 2013, the firm renamed as captioned from Mitsui Bussan Plastics
Trade Co Ltd (as given). Goods are
imported and exported thru 144 overseas branches of the parent, Mitsui & Co
Ltd. Clients include major mfrs, food
mfrs, chemical mfrs, other, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 260,220 million,
an almost similar amount of Yen 258,586 million in the previous term. The recurring profit was posted at Yen 3,468
million and the net profit at Yen 2,663 million, respectively, compared with
Yen 3,109 million recurring profit and Yen 2,853 million net profit,
respectively, a year ago.
For the current term ending Mar 20143 the recurring profit is projected
at Yen 3,500 million and the net profit at Yen 2,800 million, respectively, on
a 6% rise in turnover, to Yen 275,000 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 1,695.9 million, on 30 days normal terms.
Date Registered: Aug
1947
Regd No.: 0100-01-033507
(Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 44.8 million shares
Issued:
11.2 million
shares
Sum: Yen
626 million
Major shareholders
(%): Mitsui & Co Ltd*
(100)
*.. General trading house vying with Mitsubishi Corp for top position,
core company of Mitsui group, Tokyo, founded 1947, listed Tokyo S/E, capital
Yen 341,482 million, sales Yen 10,049,637 million, operating profit Yen 254,603
million, recurring profit Yen 314,098 million, net profit Yen 307,926 million,
total assets Yen 10,324,581 million, net worth Yen 3,181,819 million, employees
45,148, pres Masami Iijima
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales: Industrial Materials Unit/General Plastic units (31%),
Functional Materials unit (32%), General & Adhesive Unit (16%), Specialty
Films Unit (21%). (Breakdowns are all
about)
Overseas Sales
Ratio (20%)
Sales breakdown by Units:
Industrial Materials Unit
Clients: [Mfrs,
wholesalers] JSR, Kao Corp, Daiwa House Ind, Sharp Corp, Bridgestone Corp,
Sanko Co, Sangetsu Co, Meiwa Ind, Sincol Wall, Itoham Foods Inc, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] MBK, Toray Ind, Prime Polymer, Kao Corp, Tosoh Corp, Dow Corning
Toray Co, Mitsui Chemical, Fukubi Chemical Ind, Sunstar Engineering Inc, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption address
are leased and maintained satisfactorily.
Bank References:
SMBC (H/O)
Mizuho Bank (Yaesuguchi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
275,000 |
260,220 |
258,586 |
229,777 |
|
Recur. Profit |
|
3,500 |
3,468 |
3,109 |
2,384 |
|
Net Profit |
|
2,800 |
2,663 |
2,853 |
1,403 |
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Total Assets |
|
|
94,172 |
96,435 |
82,587 |
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Current Assets |
|
|
91,163 |
93,674 |
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Current Liabs |
|
|
86,375 |
89,707 |
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Net Worth |
|
|
7,273 |
6,201 |
5,546 |
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Capital, Paid-Up |
|
|
626 |
626 |
626 |
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Div.P.Share(¥) |
|
|
|
160.00 |
114.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.68 |
0.63 |
12.54 |
28.65 |
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Current Ratio |
|
.. |
105.54 |
104.42 |
.. |
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N.Worth Ratio |
.. |
7.72 |
6.43 |
6.72 |
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R.Profit/Sales |
|
1.27 |
1.33 |
1.20 |
1.04 |
|
N.Profit/Sales |
1.02 |
1.02 |
1.10 |
0.61 |
|
|
Return On Equity |
.. |
36.61 |
46.01 |
25.30 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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.