MIRA INFORM REPORT

 

 

Report No. :

357092

Report Date :

24.12.2015

 

IDENTIFICATION DETAILS

 

Name :

MITSUI & CO PLASTICS LTD

 

 

Registered Office :

JA Bldg 6/7/8 F’s, 1-3-1 Ohtemachi Chiyodaku Tokyo 100-6808

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

August 1947

 

 

Com. Reg. No.:

0100-01-033507 (Tokyo-Chiyodaku)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Trading firm for import, export and wholesale of: Industrial Materials Division (31%), Functional Materials Division (32%), Engineering Materials Division (15%), High-Functional Film Division (21%) Overseas Trading Ratio (28%)

 

 

No. of Employee :

565

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY NAME AND ADDRESS

 

MITSUI & CO PLASTICS LTD

 

REGD NAME:               Mitsui Bussan Plastic KK

MAIN OFFICE:              JA Bldg 6/7/8 F’s, 1-3-1 Ohtemachi Chiyodaku Tokyo 100-6808 JAPAN

                                                Tel: 03-6328-5000      Fax: 03-6328-5390

 

URL:                             http://www.mitsui-plastics.com

E-Mail address:             (thru the URL)

 

 

ACTIVITIES

 

Import, export, wholesale of plastics materials, industrial chemicals, other

 

 

BRANCHES

 

Osaka, Nagoya, Sapporo, Fukuoka, Okayama, Takamatsu, Hiroshima (Tot 7)

 

 

OVERSEAS

 

China, Thailand, Hong Kong, Taiwan

(Overseas Offices of Mitsui & Co Ltd, the parent, are fully utilized)

 

 

OFFICERS

 

SUSUMU KATAGIRI, PRES                   Toshiaki Sekii, s/mgn dir

Yutaka Koike, mgn dir                            Makoto Kamijo, mgn dir

Hiroshi Ogawa, mgn dir                         Tadashi Yoshimoto, mgn dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 297,526 M

PAYMENTSREGULAR               CAPITAL           Yen 626 M

TREND UP                                WORTH            Yen 9,938 M     

STARTED         1947                             EMPLOYES      565

 

COMMENT

 

TRADING FIRM, WHOLLY OWNED BY MITSUI & CO LTD.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

 

HIGHLIGHTS

           

The subject company was established on the basis of a division separated from Mitsui & Co Ltd (See REGISTRATION).  This is a trading firm for import, export and wholesale of plastic materials, industrial chemicals, automotive parts, building materials, others.  In 2014, merged into Mitsui & Co Frontier Co.  Clients include mfrs, meat packers, wholesalers, others, nationwide

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2015 fiscal term amounted to Yen 297,526 million, a 3% up from Yen 288,518 million in the previous term.  This is attributed to the said merger of sister company.  The recurring profit was posted at Yen 4,409 million and the net profit at Yen 2,882 million, respectively, compared with Yen 4,539 million recurring profit and Yen 2,898 million net profit, respectively, a year ago.

 

For the current term ending Mar 2016 the recurring profit is projected at Yen 4,430 million and the net profit at Yen 2,950 million, respectively, on a 5% rise in turnover, to Yen 312,400 million.   The said merger will contribute in full terms.  The weaker Yen will also help to raise earnings in Yen terms.

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:                       Aug 1947

Regd No.:                                 0100-01-033507 (Tokyo-Chiyodaku)

Legal Status:                Limited Company (Kabushiki Kaisha)

Authorized:                  44.8 million shares

Issued:                         11.2 million shares

Sum:                            Yen 626 million

Major shareholders (%):           Mitsui & Co Ltd* (100)

 

*.. General trading company vying with Mitsubishi Corp, for top position, Tokyo, founded 1947, listed Tokyo, Nagoya, Sapporo, Fukuoka S/E’s, capital Yen 341,482 million, sales Yen 5,404,930 million, operating profit Yen 190,270 million, recurring profit Yen 431,827 million, net profit Yen 306,490 million, total assets Yen 12,406,225 million, net worth Yen 4,232,256 million, employees 47,118, pres Tatsuo Yasunaga  

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Trading firm for import, export and wholesale of: Industrial Materials Division (31%), Functional Materials Division (32%), Engineering Materials Division (15%), High-Functional Film Division (21%)

Overseas Trading Ratio (28%)

 

(Handling Items): various types of plastic resins, chemicals, derivatives, synthetic rubber, construction materials, various types of films, LCD displays, semiconductors, other

 

 

Clients: [Mfrs, wholesalers] JSR, Kao Ltd, Daiwa House, Sharp Ltd, Bridgestone Corp, Itoh Meat Packers, Nichikon, Sincol Group Ltd, other 

 

No. of accounts: 350

 

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] MBK, Toray Prime Polymer, Kao Corp, Tosoh, Toray Dow-Corning, Mitsui Chemical, Toshiba Corp, Shin-Etsu Chemical, other

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactory.

 

Bank References

SMBC (H/O)

MUFG (Yaesudori)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

       Terms Ending:

31/03/2016

31/03/2015

31/03/2014

31/03/2013

Annual Sales

　

312,400

297,526

288,518

260,220

Recur. Profit

　

4,430

4,409

4,539

3,468

Net Profit

　

2,950

2,882

2,898

2,663

Total Assets

　

　

104,563

100,674

94,172

Current Assets

　

　

101,352

97,695

91,163

Current Liabs

　

　

93,957

92,255

86,375

Net Worth

　

　

9,938

7,798

7,273

Capital, Paid-Up

　

　

626

626

626

Div.Ttl in Million (¥)

　

　

2,900

2,374

1,870

<Analytical Data>

　

(%)

(%)

(%)

(%)

    S.Growth Rate

　

5.00

3.12

10.87

0.63

    Current Ratio

　

..

107.87

105.90

105.54

    N.Worth Ratio

　

..

9.50

7.75

7.72

    R.Profit/Sales

　

1.42

1.48

1.57

1.33

    N.Profit/Sales

　

0.94

0.97

1.00

1.02

    Return On Equity

　

..

29.00

37.16

36.61

 

Notes: Forecast (or estimated) figures for the 31/03/2016 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.20

UK Pound

1

Rs.98.30

Euro

1

Rs.72.41

YEN

1

Rs.0.55

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

HNA

 

 

Report Prepared by :

ANK

 

 

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

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

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.