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Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
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Name : |
MITSUI BUSSAN CHEMICALS CO LTD |
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Registered Office : |
JA Bldg 11F, 1-3-1 Ohtemachi Chiyodaku
Tokyo 100-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
March 1991 |
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Com. Reg. No.: |
0100-01-030451 (Tokyo—Chiyodaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of industrial chemicals |
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No. of Employees : |
164 |
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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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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 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.
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Source : CIA |
MITSUI BUSSAN CHEMICALS CO LTD
Mitsui Bussan
Chemical KK
JA Bldg 11F, 1-3-1
Ohtemachi Chiyodaku Tokyo 100-0004 JAPAN
Tel:
03-6759-5000 Fax: 03-3213-5873
URL: http://www.mb-chemicals.co.jp
E-Mail address: info@mb-chemicals.co.jp
Import,
export, wholesale of industrial chemicals
Osaka,
Nagoya, Fukuoka
HIROYASU
TAKAHASHI, PRES
Takuya Inagaki, v pres Yoshinobu
Muramatsu, dir
Katsuhisa Nishida, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR
A/SALES: Yen
132,817 M
PAYMENTS Usually Correct CAPITAL Yen
800 M
TREND UP
WORTH
Yen 2,270 M
STARTED 1991
EMPLOYES 164
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS, OWNED BY
MITSUI & CO LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a chemicals division
separated from Mitsui & Co Ltd (See REGISTRATION),
as Mitsui Bussan Solvent & Coating Co Ltd.
In Apr 2009, merged with Bussan Chemicals Co Ltd and renamed as
captioned. This is a trading firm for
import, export and wholesale of industrial chemicals (See OPERATION). Goods are
imported and exported worldwide, using the parent’s networks. Clients include major chemical mfrs,
wholesalers, other, nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen 132,817
million, a 3% up from Yen 128,910 million in the previous term. The global demand for chemicals grew, this is
an industry that is constantly evolving.
Exports rose into S/E Asian countries.
The recurring profit was posted at Yen 811 million and the net profit at
Yen 453 million, respectively, compared with Yen 1,256 million recurring profit
and Yen 648 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 830 million and the net profit at Yen 460 million, respectively, on a 3%
rise in turnover, to Yen 137,000 million.
Market is expected to show solid demand driven by the growth
fundamentals of the emerging countries mainly in Asia.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Mar 1991
Regd No.: 0100-01-030451 (Tokyo—Chiyodaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
64,000 shares
Issued:
16,000 shares
Sum: Yen 800 million
Major shareholders (%):
Mitsui & Co Ltd* (100)
*.. General trading
house vying with Mitsubishi Corp, for top position, Tokyo, founded 1947, listed
Tokyo, Osaka, Nagoya, Fukuoka, Sapporo, NASDAQ S/E’s, capital Yen 341,482
million, sales Yen 10,481,166 million, operating profit Yen 348,384 million,
recurring profit Yen 413,211 million, net profit Yen 434,497 million, total
assets Yen 8,919,243 million, net worth Yen 2,603,278 million, employees
44,805, pres Masami Iijima
Nothing detrimental is known as to
the commercial morality of executives.
Activities: Import, exports
and wholesales industrial chemicals: solvents, coating materials, paints,
adhesives, pigments, plastic additives, urethane materials, biocides, water
treatment chemicals, soda chemicals, ammonia, nitric acid, sulphuric acid,
organic & inorganic chemicals, other (--100%)
Clients: [Mfrs,
wholesalers] Mitsui Chemical (4.5%), Wuxi Baichuan Chemical Ind, Koyo Boeki,
Kawasaki Kasei Chemicals, Honshu Chemical Ind, Sanyu Industrial Co, Miyako
Kosan Co, Moriroku Chemicals, other
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui Chemical Co (31.5%), Mitsui & Co (13.6%), JX Nippon Oil
& Metal Mining Corp, Chugoku Marine Paints, Sumitomo Chemical, Daicel
Chemical Ind, Zeon Corp, other
Payment record: Usually
Correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
SMBC (H/O)
MUFG (Shimbashi)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
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Annual
Sales |
|
137,000 |
132,817 |
128,910 |
103,573 |
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Recur.
Profit |
|
830 |
811 |
1,256 |
699 |
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Net
Profit |
|
460 |
453 |
648 |
403 |
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Total
Assets |
|
|
45,852 |
43,656 |
37,383 |
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Current
Assets |
|
|
44,559 |
42,418 |
36,167 |
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Current
Liabs |
|
|
42,679 |
40,494 |
34,553 |
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Net
Worth |
|
|
2,270 |
2,364 |
2,139 |
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Capital,
Paid-Up |
|
|
800 |
800 |
800 |
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Div.Ttl
in Million (¥) |
|
|
712 |
444 |
516 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.15 |
3.03 |
24.46 |
42.31 |
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Current Ratio |
|
.. |
104.40 |
104.75 |
104.67 |
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N.Worth Ratio |
.. |
4.95 |
5.42 |
5.72 |
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R.Profit/Sales |
|
0.61 |
0.61 |
0.97 |
0.67 |
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N.Profit/Sales |
0.34 |
0.34 |
0.50 |
0.39 |
|
|
Return On Equity |
.. |
19.96 |
27.41 |
18.84 |
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Notes:
Forecast (or estimated) figures for the 31/03/2013 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 |
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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.