MIRA INFORM REPORT

 

 

Report Date :

29.03.2013

 

IDENTIFICATION DETAILS

 

Name :

CBC CO LTD

 

 

Registered Office :

CBC Bldg, 2-15-13 Tsukishima Chuoku Tokyo 104-0052

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

November  1935

 

 

Com. Reg. No.:

0100-01-050333 (Tokyo-Chuoku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Trading firm for import, export, wholesale of chemical products, IT-related products, security-related products

 

 

No. of Employees :

535 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Status :

Moderate

Payment Behaviour :

Slow but Correct

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

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

Company name

 

CBC CO LTD

 

REGD NAME 

 

CBC KK           

 

 

MAIN OFFICE

 

CBC Bldg, 2-15-13 Tsukishima Chuoku Tokyo 104-0052 JAPAN

Tel: 03-3536-4500     Fax: 03-3536-4774

 

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

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

 

 

ACTIVITIES

 

Trading firm for import, export, wholesale of chemical products, IT-related products, security-related products

 

 

BRANCHES

 

Osaka, Nagoya, Fukuoka, Mishima

 

 

OVERSEAS

 

New York, Los Angeles, London, Milan, Paris, Düsseldorf, Warsaw, Taipei, Bangkok, Singapore, Jakarta, Chittagong, Mumbai, China (4), other (Tot 31)

 

 

FACTORIES  

 

Osaka, Mishima; Novata (Italy), Chittagong (Bangladesh), Bangkok  (Thailand), Beijing, Chungshu, Dongguan (--

China) (--subcontracted)

OFFICER(S)

 

UTARO DOI, PRES                               Takayasu Owada, COO                                                             

Shoichi Takabatake, s/mgn dir    Shuichi Akatsuka, mgn dir                                                         

Yutaka Sasaki, mgn dir              Nobuyuki Sugita, dir     

 

Yen Amount:    In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 131,294 M

PAYMENTSSlow but Correct         CAPITAL           Yen 5,100 M

TREND SLOW                           WORTH            Yen 25,760 M

STARTED         1935                             EMPLOYES      535

 

 

COMMENT

 

TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS &  IT-RELATED PRODUCTS. 

 

FINANCIAL SITUATION CONSIDERED FAIR TO GOOD AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

            Notes: Unit: In Million Yen

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

 

 

HIGHLIGHTS

           

The subject company was established originally in 1925 by a certain Doi, and has been succeeded by the present executives.  This is a trading firm specializing in industrial chemicals, synthetic resins, medical products, agricultural chemicals, etc.  Of recent development include security apparatus, such as monitoring camera lenses, devices, etc, both rising in demand at home and abroad.  Goods are originally designed and manufactured on consignment by overseas factories.  Also handles liquid crystal display panels and peripherals.  In Jun 2006, acquired all stocks of PROCOS, pharmaceutical fine chemicals mfr, Italy, to make it a wholly owned subsidiary.  In Oct 2010, invested in Millinet Solar Co Ltd, a solar cell maker in Korea.  Operates a global network of 31 bases in 15 countries including USA and countries in Western & Eastern Europe and Asia including Middle East.  Clients are major chemical mfrs, pharmaceuticals, other in the related fields.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2012 fiscal term amounted to Yen 131,294 million, a 6% down from Yen140,033 million in the previous term.  Sales were largely affected by the Great East Japan Earthquake in Mar/2011 and the Thai floods.   Demand declined.  The recurring profit was posted at Yen 2,665 million and the net profit at Yen 695 million, respectively, compared with Yen 2,896 million recurring profit and Yen 1,751 million net profit, respectively, a year ago.  Wrote off Yen 1,270 million extraordinary losses coming from the sales of investment securities.

 

For the current ending Mar 2013 the recurring profit is projected at Yen 2,700 million and the net profit at Yen 750 million, respectively, on a 3% rise in turnover, to Yen 135,000 million.  Business is on the recovery trend.

 

The financial situation is considered FAIR and good for ordinary BUSINESS engagements. 

 

REGISTRATION

 

Date Registered:              Nov 1935

Regd No.:            0100-01-050333 (Tokyo-Chuoku)

Legal Status:       Limited Company (Kabushiki Kaisha)

Authorized:         68 million shared

Issued:                17 million shares

Sum:                   Yen 5,100 million

     Major shareholders (%): Utaro Doi (24.6), Employees’ S/Holding Assn (22.7), U-D KK (16.6), Shotaro Doi (14.7)

No. of shareholders: 23

 

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

 

 

OPERATION

 

Activities: A trading house specializing in security-related products (monitoring camera lenses, apparatus, etc), liquid crystal display panels & peripherals, solar batteries, electronic components & devices (--56%), other industrial chemicals, synthetic resins, medical products, agricultural chemicals, foodstuffs, textiles & clothing, others (--44%).

(Export 20%)

           

 

Clients: [Mfrs, wholesalers] Circle K Sunkus, Toppan Printing, Sony Corp, Yakult Honsha, Nitto Denko Corp, Nippon Paint, Takeda Chemical, Okura Ind, other

            No. of accounts: 1,000

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Asahi Denka Kogyo, Shin-Etsu Chemical, Okura Ind, Mitsubishi Rayon, Sumitomo Chemical, DIC, ADEKA, Kyowa Hakko Chemical, Samsung, LG (--Korea) other

 

Payment record: Slow but Correct 

 

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

           

Bank References:

MUFG (Tokyo)

Mizuho Bank (Kyobashi)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2012

31/03/2011

INCOME STATEMENT

 

 

 

  Annual Sales

　

131,294

140,033

 

  Cost of Sales

121,405

128,794

 

      GROSS PROFIT

9,889

11,238

 

  Selling & Adm Costs

7,951

8,306

 

      OPERATING PROFIT

1,938

2,932

 

  Non-Operating P/L

727

-36

 

      RECURRING PROFIT

2,665

2,896

　

      NET PROFIT

695

1,751

BALANCE SHEET

 

 

 

 

  Cash

　

6,503

6,449

 

  Receivables

 

36,504

35,592

 

  Inventory

 

4,817

5,152

 

  Securities, Marketable

　

　

 

  Other Current Assets

12,564

12,410

 

      TOTAL CURRENT ASSETS

60,388

59,603

 

  Property & Equipment

7,568

7,849

 

  Intangibles

 

719

999

 

  Investments, Other Fixed Assets

29,775

28,844

 

      TOTAL ASSETS

98,450

97,295

 

  Payables

 

26,878

23,652

 

  Short-Term Bank Loans

12,300

17,220

 

　

 

　

　

 

  Other Current Liabs

17,518

13,083

 

      TOTAL CURRENT LIABS

56,696

53,955

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

14,114

15,385

 

  Reserve for Retirement Allw

579

776

 

  Other Debts

　

1,300

1,512

 

      TOTAL LIABILITIES

72,689

71,628

 

      MINORITY INTERESTS

 

 

 

Common stock

5,100

5,100

 

Additional paid-in capital

425

425

 

Retained earnings

19,298

18,770

 

Evaluation p/l on investments/securities

19,037

2,106

 

Others

 

(17,790)

(424)

 

Treasury stock, at cost

(310)

(310)

 

      TOTAL S/HOLDERS` EQUITY

25,760

25,667

　

      TOTAL EQUITIES

98,450

97,295

ANALYTICAL RATIOS            Terms ending:

31/03/2012

31/03/2011

 

 

Net Worth (S/Holders' Equity)

25,760

25,667

 

 

Current Ratio (%)

106.51

110.47

 

 

Net Worth Ratio (%)

26.17

26.38

 

 

Recurring Profit Ratio (%)

2.03

2.07

 

 

Net Profit Ratio (%)

0.53

1.25

 

 

Return On Equity (%)

2.70

6.82

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.38

UK Pound

1

Rs.82.32

Euro

1

Rs.69.54

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.