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Report No. : |
319074 |
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Report Date : |
25.04.2015 |
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) : |
31.03.2014 |
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Date of Incorporation : |
August, 1985 |
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Com. Reg. No.: |
(Osaka-Chuoku) 090430 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export and Wholesale of Industrial Chemicals, Pharmaceuticals,
Health Foods. |
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No. of Employees : |
49 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused
the economy to contract during the 2nd and 3rd quarters of 2014. The economy
has largely recovered in the three years since the disaster, but reconstruction
in the Tohoku region has been uneven due to labor shortages. 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 2014 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 government will continue a
longstanding debate on restructuring the economy and reining in Japan's huge
government debt, which amounts to more than 240% 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 2015, although the government
in 2014 decided to postpone the final phase of the increase until 2017 to give
the economy time to recover from the 2014 increase. 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 |
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
Hiroshi Sakakibara, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 14,612 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 54 M
TREND UP WORTH Yen 379 M
STARTED 1985 EMPLOYES `49
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/2014 fiscal term amounted to Yen 14,612 million, a 7% up from Yen
13,647 million in the previous term.
Exports increased. The recurring profit
was posted at Yen 158 million and the net profit at Yen 34 million,
respectively, compared with Yen 50 million recurring profit and Yen 15 million
net profit, respectively, a year ago.
For the term that
ended Mar 2015 the recurring profit was projected at Yen 165 million and the
net profit at Yen 40 million, respectively, on a 5% rise in turnover, to Yen
15,300 million. Final results are yet to
be released.
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: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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|
Annual
Sales |
|
15,300 |
14,612 |
13,647 |
12,688 |
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Recur.
Profit |
|
165 |
158 |
50 |
69 |
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Net
Profit |
|
40 |
34 |
15 |
4 |
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Total
Assets |
|
|
4,194 |
3,793 |
3,229 |
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Current
Assets |
|
|
3,845 |
3,510 |
2,985 |
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Current
Liabs |
|
|
2,977 |
2,692 |
2,179 |
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Net
Worth |
|
|
379 |
344 |
329 |
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Capital,
Paid-Up |
|
|
54 |
54 |
54 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.71 |
7.07 |
7.56 |
-5.08 |
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Current Ratio |
|
.. |
129.16 |
130.39 |
136.99 |
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N.Worth Ratio |
|
.. |
9.04 |
9.07 |
10.19 |
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R.Profit/Sales |
|
1.08 |
1.08 |
0.37 |
0.54 |
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N.Profit/Sales |
|
0.26 |
0.23 |
0.11 |
0.03 |
|
Return On Equity |
|
.. |
8.97 |
4.36 |
1.22 |
Note: Forecast (or estimated) for the 31/03/2015
fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
|
|
1 |
Rs.95.42 |
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Euro |
1 |
Rs.68.49 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIT |
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.