MIRA INFORM REPORT

 

 

Report Date :

18.05.2013

 

IDENTIFICATION DETAILS

 

Name :

INCHEMY CHIBA IND LTD

 

 

Registered Office :

1-24-7 Satsukigaoka Hanamigawaku Chiba 262-0014

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

October 1988

 

 

Com. Reg. No.:

0400-01-000507 (Chiba-Hanamigawaku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of chemicals, water treatment systems

 

 

No. of Employees :

05

 

 

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                                 INCHEMY CHIBA IND LTD

 

REGD NAME:                                       KK Inchemy Chiba

 

MAIN OFFICE:                                      1-24-7 Satsukigaoka Hanamigawaku Chiba 262-0014 JAPAN

Tel: 043-257-3918                                                Fax: 043-257-3951

 

URL:                                                     N/A

E-Mail address:                                    inchemy@mbc.ocn.ne.jp

 

ACTIVITIES:                                         Import, export, wholesale of chemicals, water treatment systems,

other

 

BRANCHES:                                         Nil

 

OFFICERS:                                           SHOICHI SOH, PRES

                                                            Hiromasa Ohta, ch

                                                            Sonoko Tanaka, dir       

                       

Yen Amount:                                         In million Yen, unless otherwise stated

 

SUMMARY:                                          FINANCES        FAIR                             A/SALES          Yen 180 M

                                                            PAYMENTS      Slow but Correct  CAPITAL            Yen 10 M

                                                            TREND             UP                                WORTH            Yen 27 M

                                                            STARTED         1988                             EMPLOYES      5

 

COMMENT:                                          TRADING COMPANY SPECIALIZING IN CHEMICALS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

                                                            MAX CREDIT LIMIT: YEN 3.5 MILLION, 30 DAYS NORMAL

TERMS

 

HIGHLIGHTS:

 

The subject company was established by Hiromasa Ohta in order to make most of his experience in the subject line of business.  Shoichi Soh took the pres office in May 2009.  This is a trading firm for import, export and wholesale of chemicals (dyestuffs, pigment), functional chemicals, water treatment systems, other.  Exports to China, Korea, Taiwan, India, Thailand, Indonesia, Vietnam, other S/E Asian countries.

 

 

FINANCIAL INFORMATION:

           

Financials are only partially disclosed.

 

The sales volume for Mar/2012 fiscal term amounted to Yen 180 million, a sharp 50% up from Yen 120 million in the previous term.  Newly introduced functional chemicals and water treatment systems were in good demand.  The net profit was posted at Yen 1 million, similarly in the previous term.

 

For the term that ended Mar 2013 the net profit was projected at Yen 1 million, on a 6% rise in turnover, to Yen 190 million.  Final results are yet to be released.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 3.5 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Oct 1988

Regd No.:            0400-01-000507 (Chiba-Hanamigawaku)

Legal Status:       Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:              200 shares

Sum:                   Yen 10 million

Major shareholders (%): Hiromasa Ohta (100)

 

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

 

 

OPERATION:

           

Activities: Imports, exports and wholesales chemicals: synthetic dyestuffs, natural dyestuffs, pigments, resin additives; water treatment systems, plane water making equipment, others (--100%)

 

Clients: [Mfrs, wholesalers] DIC, Toagosei Co, Nippon Steel & Sumitomo Metal Corp, Kyoshin Trading, Shin-Etsu Chemical Ind, Nippon Steel Trading, LG Chem Ltd, Nippon Formula Feed Mfg, other

Exports to China, Taiwan, Korea, India, Indonesia, Thailand, Vietnam, other

            No. of accounts: 200

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Nitto Denko Corp, Wide Techs, Kyungin Synthetic Corp, Emori & Co Ltd, Toyo Glass Co, other.

Imports from China, Taiwan, India, Korea, other S/E Asian countries

 

Payment record: Slow but Correct 

 

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

 

Bank References:

Mizuho Bank (Chiba)

Keiyo Bank (Satsukigaoka)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

　

190

180

120

121

Recur. Profit

　

..

..

..

..

Net Profit

　

1

1

1

1

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

27

26

25

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.56

50.00

-0.83

0.83

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.53

0.56

0.83

0.83

 

Notes: Financials are only partially disclosed.

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

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.89

UK Pound

1

Rs.83.66

Euro

1

Rs.70.58

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.