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Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MITSUBISHI
CHEMICAL CORPORATION |
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Registered Office : |
Palace Bldg, 1-1-1 Marunouchi Chiyodaku |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
June 1950 |
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Com. Reg. No.: |
0100-01-146743 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacture of petrochemicals, functional chemicals, health-care products, other |
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No. of Employees : |
5,571 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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. Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has overturned his predecessor's plan to
permanently close nuclear power plants and is pursuing an economic revitalization
agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined
the Trans Pacific Partnership negotiations in 2013, a pact that would open
Japan's economy to increased foreign competition and create new export
opportunities for Japanese businesses. Measured on a purchasing power parity
(PPP) basis that adjusts for price differences, Japan in 2013 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 is exceeding 230% of GDP. To
help raise government revenue and reduce public debt, Japan decided in 2013 to
gradually increase the consumption tax to a total of 10% by the year 2015.
Japan is making progress on ending deflation due to a weaker yen and higher
energy costs, but reliance on exports to drive growth and an aging, shrinking
population pose other major long-term challenges for the economy
|
Source
: CIA |
MITSUBISHI CHEMICAL CORPORATION
REGD NAME: Mitsubishi
Kagaku KK
MAIN OFFICE: Palace
Bldg, 1-1-1 Marunouchi Chiyodaku
Tel: 03-6748-7300 Fax: 03-3286-1210
*..
Moved to the caption address from the one as given
URL: http://www.m-kagaku.co.jp/
E-Mail
address: (thru the URL)
Mfg of
petrochemicals, functional chemicals, health-care products, other
Osaka,
Nagoya, Fukuoka Sapporo, Sendai
USA,
Germany, Hong Kong, China, Singapore, Thailand (--subsidiaries)
Kurosaki,
Yokkaichi, Naoetsu, Mizushima, Sakaide, Kashima, Tsukuba, Matsuyama, Odawara
R&D Centers: Yokohama,
Tsukuba
HIROAKI
ISHIZUKA, PRES Yoshimitsu
Kobayashi, ch
Masanori Karatsu, mgn dir Noriyoshi Ohira, mgn dir
Yoshihiro Umeha, mgn dir Shushichi Yoshimura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,159,667 M
PAYMENTSREGULAR CAPITAL Yen
50,000 M
TREND UP WORTH Yen 356,853 M
STARTED 1950 EMPLOYES 5,571
MFR SPECIALIZING IN CHEMICALS, WHOLLY OWNED BY MITSUBISHI
CHEMICAL HOLDINGS CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
This
is the nation’s largest comprehensive chemical mfr. Tops in ethylene production. Reborn through the merger between Mitsubishi
Kasei and Mitsubishi Petrochemical. In
Oct 2005, founded a joint-stock holding company, Mitsubishi Chemical Holdings
Corp (See REGISTRATION), jointly
with Mitsubishi Pharma Corp by means of a stock-to-stock exchange, and became
its wholly owned subsidiary, simultaneously de-listed from Tokyo & Osaka
S/E’s. By the stead, Mitsubishi Chemical
Holdings Corp was listed on the two S/E’s.
This is the core of the Group, with petrochemicals accounting for about
85% of total group sales. The subject is
the top ethylene mfr, producing petrochemicals, functional chemicals,
healthcare products, other.
The sales
volume for Mar/2014 fiscal term amounted to Yen 2,159,667 million, a 10% up
from Yen 1,961,833 million in the previous term. Petroleum oil prices went up, as converted
from the weaker Yen. The recurring
profit was posted at Yen 14,851 million and the net profit at Yen 2,199
million, respectively, compared with Yen 9,633 million recurring profit and Yen
10,654 million net losses, respectively, a year ago.
For
the current term ending Mar 2015 the recurring profit is projected at Yen
15,000 million and the net profit at Yen 2,500 million, respectively, on a 5%
rise in turnover, to Yen 2,270,000 million.
.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Jun 1950
Regd No.:
0100-01-146743 (Tokyo-Chiyodaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
5,900 million shares
Issued:
2,177,675,032 shares
Sum: 50,000 million
Major shareholders (%): Mitsubishi Chemical Holdings
Corp*(100)
*.. Joint-stock holding company, formed in Oct 2005, listed
Tokyo S/E, with role of portfolio management of the group, capital Yen 50,000
million, turnover Yen 3,498,834 million, operating profit Yen 110,460 million,
recurring profit Yen 103,092 million, net profit Yen 32,248 million, total
assets Yen 3,479,359 million, net worth Yen 900,803 million, employees 56,031,
pres Yoshimitsu Kobayashi.
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Manufactures petrochemicals (35%),
polymers (25%), functional chemicals (10%), functional materials (10%),
healthcare products (5%), services, others (15%).
Overseas Sales Ratio (31%)
(Products by divisions):
Petrochemicals Div: purified terephthalic acid, C4
chemicals, PET resins, glacial acrylic acid & derivatives, engineering
plastics, functional polymers;
Functional Chemicals Div: information & electronics products
(printing supplies, display materials, optical recording media), functional
chemicals (fine chemicals, ion-exchange resins, activated carbon, electronic
chemicals, food ingredients);
Functional Materials Div: functional materials (carbon
materials & products, inorganic materials); high performance materials
(films & sheets, construction & civil engineering materials,
agricultural materials);
Healthcare Products Div: active pharmaceutical
ingredients, diagnostic reagents & instruments, clinical testing, support
for drug discovery;
Other Div: carbon, etc.
Clients:
[Mfrs, wholesalers] Mitsubishi Corp, Nisshin Steel, Meiwa Corp, other.
No. of
accounts: 3,000
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Mitsubishi Corp, Nippon Oil Corp, Nisshin Steel, other.
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned by the parent, Mitsubishi Chemical Holdings
Corp, and maintained satisfactorily.
Bank References:
MUFG
(H/O)
Mizuho
Bank (H/O)
Relations:
Satisfactory
(Consolidated In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
2,270,000 |
2,159,667 |
1,961,833 |
2,080,902 |
|
Recur.
Profit |
|
15,000 |
14,851 |
3,633 |
30,219 |
|
Net
Profit |
|
2,500 |
2,199 |
-10,654 |
2,914 |
|
Total
Assets |
|
|
1,691,304 |
1,631,287 |
1,653,815 |
|
Current
Assets |
|
|
833,752 |
791,500 |
774,859 |
|
Current
Liabs |
|
|
901,518 |
846,137 |
761,892 |
|
Net
Worth |
|
|
356,853 |
329,679 |
322,120 |
|
Capital,
Paid-Up |
|
|
50,000 |
50,000 |
50,000 |
|
Div.P.Share(¥) |
|
|
1.22 |
1.22 |
0.41 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.11 |
10.08 |
-5.72 |
3.04 |
|
Current Ratio |
|
.. |
92.48 |
93.54 |
101.70 |
|
N.Worth Ratio |
|
.. |
21.10 |
20.21 |
19.48 |
|
R.Profit/Sales |
|
0.66 |
0.69 |
0.19 |
1.45 |
|
N.Profit/Sales |
|
0.11 |
0.10 |
-0.54 |
0.14 |
|
Return On Equity |
|
.. |
0.62 |
-3.23 |
0.90 |
Forecast
figures for the 31/03/2015 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
PDT |
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 |
-- |
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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.