MIRA INFORM REPORT

 

 

Report Date :

11.06.2013

 

IDENTIFICATION DETAILS

 

Name :

TOYOTSU CHEMIPLAS CORPORATION

 

 

Registered Office :

Shinagawa Front Bldg 11F, 2-3-13 Konan Minatoku Tokyo 108-0075

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

April, 2006

 

 

Com. Reg. No.:

0104-01-091292

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of automotive parts, IT & electronics, industrial Chemicals, housing materials, packaging materials

 

 

No. of Employees :

292

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

COMPANY NAME

 

TOYOTSU CHEMIPLAS CORPORATION

 

 

REGD NAME    

 

Toyotsu Chemiplas KK

 

 

MAIN OFFICE  

 

Shinagawa Front Bldg 11F, 2-3-13 Konan Minatoku Tokyo 108-0075 JAPAN

Tel: 03-4306-8660          Fax: 03-4306-8920

                       

URL:                 http://www.toyotsu-chemiplas.com

E-Mail address: info@toyotsus-chemiplas.com

 

 

ACTIVITIES

 

Import, export, wholesale of automotive parts, IT & electronics, industrial    Chemicals, housing materials, packaging materials

 

 

BRANCHES

 

Osaka, Nagoya, Niigata, Shizuoka

 

 

OVERSEAS     

 

Europe (11), Africa (7), Mid East (8), China (12), other Asia (19), Oceania (4), N America (13), Latin America (15)

 

 

OFFICERS       

 

FUMIO INOUE, PRES                Koji Hatano, mgn dir

Hiroshi Hosokawa, dir                 Toshiharu Saitoh, dir

Hajime Hashimoto dir                 Yoshio Mizuno, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY       

 

FINANCES        FAIR                 A/SALES          Yen 166,456 M

PAYMENTS      REGULAR         CAPITAL           Yen 670 M

TREND             STEADY           WORTH            Yen 8,315 M

STARTED         2006                 EMPLOYES      292

 

 

COMMENT       

 

TRADING HOUSE, WHOLLY OWNED BY TOYOTA TSUSHO CORP. 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 1,922.5 MILLION, 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS

 

The subject company was established on the basis of intra-company “Tomen Chemical Corporation” separated from Tomen Corp to become Tomen Chemical Co Ltd.  In Apr 2006, when Tomen Corp and Toyota Tsusho Corp merged, the firm became a wholly owned subsidiary of Toyota Tsusho Corp (See REGISTRATION).  In Apr 2009, merged Toyota Tsusho group firms and renamed as captioned.  By the merger handling items expanded to include automotive parts & materials.  This is a trading house for import, export and wholesale of automotive parts, IT & electronics, housing materials, coating materials, foodstuffs, other, in addition to industrial chemicals.  Goods are imported from and exported to worldwide countries.  Clients are major chemical industries, pharmaceuticals, cosmetics, other, nationwide.

           

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2012 fiscal term amounted to Yen 166,456 million, a 5% up from Yen 158,960 million a year ago.  The recurring profit was posted at Yen 3,188 million and the net profit at Yen 1,768 million, respectively, compared with Yen 2,659 million recurring profit and Yen 1,537 million net profit, respectively, a year ago.

 

For the term that ended Mar 2013 the recurring profit was projected at Yen 3,200 million and the net profit at Yen 1,800 million, respectively, on a 5% rise in turnover, to Yen 175,000 million.  Final results are yet to be released.

 

The financials situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 1,922.9 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:          Apr 2006

Regd No.:                     0104-01-091292 (Tokyo-Minatoku)

Legal Status:               Limited Company (Kabushiki Kaisha)

Authorized:                  32,000 shares

Issued:                         13,400 shares

Sum:                            Yen 670 million

           

Major shareholders (%): Toyota Tsusho Corp*(100)

*.. Toyota Tsusho Corp, sole trading house in Toyota group, Tokyo, founded 1948, listed     Tokyo, Nagoya S/E’s, capital Yen 64,936 million, turnover Yen 6,304,34 million, operating profit Yen 115,875 million, recurring profit Yen 124,814 million, net profit Yen 67,432 million, total assets Yen 3,592,368 million, net worth Yen 920,043 million, employees 48,103, pres Jun Kambe

 

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

 

 

OPERATION

 

Activities: Imports, exports and wholesales industrial chemicals, others (--100%).

           

(Handling items by Divisions):

 

Automotive Parts & Materials: various molding products, synthetic & natural rubbers, plastic materials, auto chemical goods, automotive materials & interior/exterior materials, urethane raw materials & products;

IT Electronics: high-functioning resin raw materials and moldings, optics system materials & parts, semiconductor parts;

Packaging Materials: synthetic resin raw materials, resin films & sheets, resin & containers;

Housing Materials: recycled raw materials & environmental products, paint, ink & adhesives raw materials, synthetic woods & products, housing materials, interior and exterior housing materials, urethane raw materials & products;

Daily Necessities, Beauty & Health Care: functional resin ingredients, detergent materials & products, toothpaste & oral hygiene raw materials, medical & hygienic materials & products, cosmetics raw materials, oleo chemicals;

Coating Materials: solvents, paint, ink & adhesive raw materials;

Foodstuffs & Medicine Materials: animal feed additives, functional food products, pharmaceutical raw materials

 

Clients: [Chemical mfrs, pharmaceuticals, other mfrs] Toyota Tsusho Corp (6%),Sanyo Chemical Ind, Lion Corp, Takeda Chemical, Miyoshi Fats, Asahi Kasei Chemicals, Kanebo Cosmetics, Hitachi Kasei Polymer, Toray Ind, Showa Highpolymer, Bridgestone, Inoac Corp, Konica Minolta Group, other.

Exports (50%) to: USA, Taiwan, Korea, Indonesia, Singapore, Malaysia, Thailand,

Philippines, Hong Kong, Australia, other.

No. of accounts: 1,000

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Toyota Tsusho Corp (22.8%), Sanyo Chemical Ind, Nippon Shokubai, Tosoh, Showa Denko, Nippon Petrochemicals, Mitsui Chemical, Mitsubishi Chemical, BASF Japan, Toyo Aluminium, Asahi Kasei Chemicals, other

Imports (50%) from: USA, Brazil, Germany, Spain, Italy, France, Indonesia, Taiwan,           Korea, China, Malaysia, other.

 

Payment record: Regular

 

 

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

 

Bank References:

MUFG (H/O)

SMBC (H/O)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

       Terms Ending:

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

　

175,000

166,456

158,960

130,463

Recur. Profit

　

3,200

3,188

2,659

　

Net Profit

　

1,800

1,768

1,537

1,498

Total Assets

　

　

59,882

52,994

44,241

Current Assets

　

　

57,344

51,044

　

Current Liabs

　

　

50,835

45,048

　

Net Worth

　

　

8,315

7,264

6,476

Capital, Paid-Up

　

　

670

670

670

Div.Ttl Million (¥)

　

　

770

750

845

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.13

4.72

21.84

195.77

    Current Ratio

 

..

112.80

113.31

..

    N.Worth Ratio

..

13.89

13.71

14.64

    R.Profit/Sales

 

1.83

1.92

1.67

..

    N.Profit/Sales

1.03

1.06

0.97

1.15

    Return On Equity

..

21.26

21.16

23.13

Notes: Forecasts for the 31/03/2013 fiscal term.

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.