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Report Date : |
06.09.2013 |
IDENTIFICATION DETAILS
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Name : |
MITSUYA BOEKI LTD |
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Registered Office : |
Yamaguchi Kosan Sakaisuji Bldg, 2-2-7 Kyutaromachi Chuoku Osaka 541-0056 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
August 1985 |
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Com. Reg. No.: |
090430 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of industrial chemicals, pharmaceuticals,
health foods. |
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No. of Employees : |
50 |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
MITSUYA BOEKI LTD
REGD NAME: Mitsuya
Boeki KK
MAIN OFFICE: Yamaguchi
Kosan Sakaisuji Bldg, 2-2-7 Kyutaromachi Chuoku Osaka 541-0056 JAPAN
Tel:
06-6260-4581 Fax: 06-6260-4575
URL: http://www.mitsuya-boeki.co.jp
E-Mail address: info@mitsuya-boeki.co.jp
Import, export,
wholesale of industrial chemicals, pharmaceuticals, health foods
Teheran; Mitsuya
Boeki (USA) Inc, India (subsidiary)
YASUO TAKAHASHI,
PRES Masaru Kimura, rep dir
Kiyoshi Nishimura, s/mgn dir Hiroshi Sakakibara, dir
Hiroaki Gen, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 13,647 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 54 M
TREND UP WORTH Yen 344 M
STARTED 1985 EMPLOYES 50
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject
company was established by Yasuo Takahashi jointly with two other
entrepreneurs (all on the board and shareholders). Originally started importing pharmaceutical
raw materials & intermediates from Australia, India and China, the core of
its operations. The firm has since
diversified handling products to include: pigments, paints, other industrial
chemicals, pharmaceutical intermediates, food additives, health foods,
cosmetics & toiletries. Main market
base is USA, where the firm operates a subsidiary, Mitsuya Boeki (USA) Inc (See
OPERATION). Imports of raw materials for pharmaceuticals
continue growing from India & China.
Operations are also diversified into advanced areas, such as fuel cells,
nano powder (fine), etc. Goods are
actively exported to USA, Mid/South America, India, Europe, Africa, Mid/Near
East, China, other S/E Asia.
The sales volume for Mar/2013 fiscal term amounted to Yen 13,647
million, an 8% up from Yen 12,688 million in the previous term. Exports increased. The recurring profit was posted at Yen 50
million and the net profit at Yen 15 million, respectively, compared with Yen
69 million recurring profit and Yen 4 million net profit, respectively, a year
ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 70 million and the net profit at Yen 30 million, respectively, on an 11%
rise in turnover, to Yen 15,100 million.
Weak Yen may raise import/export earnings in Yen terms.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: Aug
1985
Regd No.:
(Osaka-Chuoku) 090430
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4,000
shares
Issued: 1,080
shares
Sum: Yen
54 million
Major
shareholders (%): Yasuo Takahashi (40), Kiyoshi Nishimura (21), Masaru Kimura (13),
Hiroshi Sakakibara (13), Hiroaki Gen (13)
No.
of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales industrial chemicals: cosmetics/toiletries, electronics
materials, food additives, glass materials, pharmaceuticals materials &
intermediates, textiles, pulp &
paper, plastics, toothpaste, detergent, agricultural chemicals,
construction materials, raw materials
for fuel cells, machine components, various nano products, others
(--100%). Pharmaceuticals raw materials & intermediates are mainly imported
from China and India.
Goods are widely exported to: USA, Mid/South America, India, China, UK,
Germany, Africa, Mexico, Taiwan, other
S/E Asian countries, etc.
(North
American Operations): Operation is conducted by firm’s USA subsidiary
selling typically following products through distributors & agencies across
the country:
(Commodities): additives
(fluoride, etc) for tooth polishing, raw materials of synthetic rubber, paints
for cars, new materials such as high purity chemicals for use in Lithium Ion
secondary batteries & fuel cells, raw materials for health foods, raw
materials of agrochemicals (mainly shipped to Mexico & Chile), chelating
agents.
Clients: [Mfrs, wholesalers] Exports to USA,
Australia, India, China, Europe, Mid/South America, Mid/Near East, UK, Korea, Thailand,
Taiwan, Malaysia, S/E Asia, other.
Domestic clients
include: Osaka Organic Chemical Ind, Japan General, Wako Pure
Chemical Ind,
other.
No. of accounts:
1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Tosoh Corp, Okuno Chemical Ind, Shin-Etsu Chemical, Otsuka
Chemical, Ube Ind, Nippon Shokubai, Stella Chemifa, Daicel Chemical, Nippon
Paper Chemical, Japan Carbide, Mitsubishi Chemical, Mitsubishi Gas Chemical,
Mitsubishi Rayon, Japan Vam & Poval Co, Nippon Paper Ind (Chemical Div),
Yokkaichi Chemical Co, other. Also
imports from India, China, Australia, other.
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References: MUFG (Semba-Chuo)
SMBC (Namba)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
15,100 |
13,647 |
12,688 |
13,367 |
|
Recur.
Profit |
|
70 |
50 |
69 |
35 |
|
Net
Profit |
|
30 |
15 |
4 |
15 |
|
Total
Assets |
|
|
3,793 |
3,229 |
3,276 |
|
Current
Assets |
|
|
3,510 |
2,985 |
3,042 |
|
Current
Liabs |
|
|
2,692 |
2,179 |
2,242 |
|
Net
Worth |
|
|
344 |
329 |
325 |
|
Capital,
Paid-Up |
|
|
54 |
54 |
54 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
10.65 |
7.56 |
-5.08 |
19.29 |
|
|
Current Ratio |
|
.. |
130.39 |
136.99 |
135.68 |
|
N.Worth Ratio |
.. |
9.07 |
10.19 |
9.92 |
|
|
R.Profit/Sales |
|
0.46 |
0.37 |
0.54 |
0.26 |
|
N.Profit/Sales |
0.20 |
0.11 |
0.03 |
0.11 |
|
|
Return On Equity |
.. |
4.36 |
1.22 |
4.62 |
|
Note: Forecast (or
estimated) for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 66.04 |
|
|
1 |
Rs. 103.11 |
|
Euro |
1 |
Rs. 86.99 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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 |
|
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 |
|
-- |
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.