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Report Date : |
15.11.2013 |
IDENTIFICATION DETAILS
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Name : |
MITSUI CHEMICAL TOHCELLO INC |
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Registered Office : |
Sumitomo Fudosan Kanda Bldg, 7 Kanda-Mitoshirocho Chiyodaku Tokyo 101-8485 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
January, 1929 |
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Com. Reg. No.: |
0100-01-034829 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of industrial films,
sheets |
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No. of Employees : |
1,060 |
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 : |
No Complaints |
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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
CHEMICAL TOHCELLO INC
Mitsui Kagaku Tohcello KK
Sumitomo Fudosan Kanda Bldg, 7
Kanda-Mitoshirocho Chiyodaku Tokyo 101-8485 Japan
Tel: 03-6895-9300 Fax: 03-6895-5900
URL: http://www.mc-tohcello.co.jp
E-Mail address: (thru the URL)
Mfg of industrial films, sheets
Osaka, Nagoya, Sapporo, Fukuoka
Malaysia
Katsuta, Ibaraki, Koga,
Hamamatsu, Aki, Nagoya
YUKIO HARA, PRES Manabu Serio, rep dir
Tomio Oshino, mgn dir Yoshio Inoue, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 73,921 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 3,450 M
TREND SLOW WORTH Yen 29,644 M
STARTED 1929 EMPLOYES 1,060
MFR OF INDUSTRIAL FILMS &
SHEETS, OWNED BY MITSUI CHEMICALS INC.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established jointly by Mitsui Chemicals Febro Inc and Tohcello Co Ltd. This is a specialized mfr of industrial,
packaging, functional films & sheets, photovoltaic encapsulant, other. Goods are delivered to the parent and its
group firms. Products are also actively
exported.
The sales volume for Mar/2013
fiscal term amounted to Yen 73,921 million, a 7% down from Yen 79,559 million
in the previous term. One factory went
into repairing and sales declined. The
operations plunged into the red to post Yen 953 million recurring loss and Yen
4,012 million net losses, respectively, compared with Yen 3,052 million
recurring profit and yen 1,741 million net profit, respectively, a year ago.
For the current term ending Mar
2014 the recurring profit is projected at Yen 3,000 million and the net profit
at Yen 1,600 million, respectively, on a 5% rise in turnover, to Yen 77,500
million. .Thai Factory is mfg in full
capacity.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered:
Jan 1929
Regd No.: 0100-01-034829
(Tokyo-Chiyodaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 626million shares
Issued: 156
million shares
Sum: Yen
3,450 million
Major shareholders (%): Mitsui Chemicals Inc* (100)
*.. One of major comprehensive chemical mfr, Tokyo, founded 1955, listed Tokyo S/E,
Capital Yen 125,053 million,
sales Yen 1,406,220 million, operating profit Yen 4,290 million, recurring
profit Yen 9,206 million, net loss Yen 8,140 million, total assets Yen
1,420,524 million, net worth Yen 388,075 million, employees 2,846, pres
Toshikazu Tanaka
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Manufactures packaging films,
industrial films, functional sheets, photovoltaic encapsulant, other (--100%)
Clients: [Mfrs, wholesalers] Toppan Printing,
Dainippon Printing, Solar Frontier, Mitsubishi Packaging, Inabata Ind, Inabata
Fine Tech, OG Corp, Sharp, other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Prime Polymer,
Mitsui DuPont Polychemical, Mitsui Chemicals Ind,
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References:
SMBC (H/O)
MUFG (Tokyo)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual
Sales |
77,500 |
73,921 |
79,559 |
66,449 |
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Recur.
Profit |
3,000 |
-953 |
3,052 |
4,057 |
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Net
Profit |
1,600 |
-4,012 |
1,741 |
2,191 |
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Total
Assets |
64,347 |
69,003 |
64,919 |
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Current
Assets |
35,060 |
36,603 |
34,703 |
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Current
Liabs |
20,126 |
25,565 |
15,151 |
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Net
Worth |
29,644 |
33,162 |
18,727 |
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Capital,
Paid-Up |
3,450 |
3,450 |
3,450 |
||
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Div.P.Share(¥) |
0.00 |
0.00 |
0.00 |
||
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth
Rate |
4.84 |
-7.09 |
19.73 |
18.26 |
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Current
Ratio |
.. |
174.20 |
143.18 |
229.05 |
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N.Worth
Ratio |
.. |
46.07 |
48.06 |
28.85 |
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R.Profit/Sales |
3.87 |
-1.29 |
3.84 |
6.11 |
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N.Profit/Sales |
2.06 |
-5.43 |
2.19 |
3.30 |
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Return
On Equity |
.. |
-13.53 |
5.25 |
11.70 |
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Notes: Forecast (or estimated)
figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.06 |
|
|
1 |
Rs.101.15 |
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Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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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.