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Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
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Name : |
CHUKAN BUTSU LTD |
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Registered Office : |
Shiono Nissei Bldg 7F, 2-6-6 Doshomachi Chuoku |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
February, 1990 |
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Reg. No.: |
1200-01-084395 (Osaka-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of industrial chemicals |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
COMPANY NAME AND ADDRESS
CHUKAN BUTSU LTD
REGD NAME: Chukan Butsu Shoji KK
MAIN OFFICE: Shiono Nissei Bldg 7F, 2-6-6 Doshomachi Chuoku
Osaka 541-0045 JAPAN
Tel:
06-6231-5127 Fax: 06-6222-5126
E-Mail address: nishioka@chukan.co.jp
ACTIVITIES
Import, export, wholesale of industrial chemicals
BRANCHES
Tokyo, Hyogo (Distribution Center)
OVERSEAS
Nantong (China), Pune (India) (--rep offices)
OVERSEAS
Taizhou Yutai Intermediate Factory (JV with Taizhou Zhogjian Co Ltd,
China)
OFFICER(S)
SHINGO TSUKUDA, PRES
Hiroki Kadota, dir
Takuya Nishioka, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,193 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 20 M
TREND STEADY WORTH Yen 323 M
STARTED 1990 EMPLOYES 20
COMMENT
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 32.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established in order to succeed business
operations of the former E Horibata & Co Ltd, founded 1929, for importing
intermediates for colorants, pharmaceuticals, pigments, dyestuffs, other
intermediates from Germany. Reorganized
in 1990, the firm was renamed as captioned.
This is a specialized trading firm for import, export and wholesale of
industrial chemicals: pharmaceuticals intermediates, pigments, dyestuffs, other
industrial chemicals. About 60% of the
goods are imported from China and India.
The firm offers technical transfer, outsourcing and OEM services,
too. Founded Yashiro Distribution Center
in 1994, authorized warehouse for medical supplies, dangerous & poisonous
cargoes. In 1995 formed Taizhou Yutai
Intermediate Factory, Taizhou, Jiangu (China), JV with Taizhou Zhogjian Co Ltd,
China. In 1996 opened Nantong Branch
Office, China. In 2006 opened
representative office in Pune, India.
Clients are specialized chemical mfrs nationwide.
FINANCIAL
INFORMATION
The sales volume for Dec/2012 fiscal term
amounted to Yen 2,193 million, a 3% up from Yen 2,124 million in the previous
term. Exports and imports from and into
China & India increased. Price hikes
of the materials also assisted. The
recurring profit was posted at Yen 147 million and the net profit at Yen 55 million,
respectively, compared with Yen 111 million recurring profit and Yen 17 million
net profit, respectively, a year ago.
For the term that ended Dec 2013 the
recurring profit was projected at Yen 150 million and the net profit at Yen 60
million, respectively, on a 5% rise in turnover, to Yen 2,300 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 32.9 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Feb 1990
Regd
No.: 1200-01-084395 (Osaka-Chuoku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
1,600 shares
Issued:
800 shares
Sum:
Yen 20 million
Major
shareholders (%): Chukan Butsu Butsuryu* (100)
* Subsidiary
distribution company
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Imports, exports
and wholesales food additives, olive oils, other fine chemicals (--55%),
intermediate for pharmaceuticals & agrochemicals, pigments, others (--20%),
technical transfer, consulting, others
(--25%). (Breakdowns are all about)
Clients: [Chemical mfrs,
wholesalers] Clariant (Japan) KK, Nippon Kayaku, Mikuni Pharmaceutical Ind, Nichijun
Chemical, Sansui Shikiso Kogyo, Orient Chemical Ind, Kaneka Corp, Mitsubishi
Tanabe Pharma Corp, Wako Pure Chemical Ind, Ono Pharmaceutical, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers:
[Chemical
mfrs] Clauson-Kaas (Denmark), Hovione (Portugal), Palident Ltd (Israel),
Organica Feinchemie GmbH (Germany), RRJ Dyes & Intermediates, Balaji Amines
Ltd (--India), Taizhou Yatai Intermediate Factory (China), Dalchem (Russia),
other from Czech, Russia, Hungary, etc.
Also supplied for exports from DIC, Sakai
Chemical Ind, Kanto Chemical, other.
Payment
record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
MUFG (Osaka-Chuo)
Kinki Osaka Bank (Semba)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
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Annual Sales |
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2,300 |
2,193 |
2,124 |
1,804 |
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Recur. Profit |
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150 |
147 |
111 |
56 |
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Net Profit |
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60 |
55 |
17 |
59 |
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Total Assets |
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1,415 |
1,452 |
1,274 |
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Current Assets |
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1,036 |
1,061 |
840 |
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Current Liabs |
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683 |
711 |
773 |
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Net Worth |
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323 |
269 |
254 |
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Capital, Paid-Up |
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20 |
20 |
20 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.88 |
3.25 |
17.74 |
12.89 |
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Current Ratio |
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151.68 |
149.23 |
108.67 |
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N.Worth Ratio |
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22.83 |
18.53 |
19.94 |
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R.Profit/Sales |
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6.52 |
6.70 |
5.23 |
3.10 |
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N.Profit/Sales |
2.61 |
2.51 |
0.80 |
3.27 |
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Return On Equity |
.. |
17.03 |
6.32 |
23.23 |
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Notes: Forecast (or estimated) figures for the 31/12/2013 fiscal term.
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.