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Report No. : |
306008 |
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Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
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Name : |
MITSUI & CO
PLASTICS LTD |
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Registered Office : |
JA Bldg 6/7/8 F’s, 1-3-1 Ohtemachi Chiyodaku |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
August, 1947 |
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Com. Reg. No.: |
0100-01-033507
(Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Plastics Materials, Industrial Chemicals, Other. |
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No. of Employees : |
554 |
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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 : |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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.
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Source
: CIA |
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
*.. The is its
Osaka Branch Office
URL: http://www.mitsui-plastics.com
E-Mail address: (thru the URL)
Import, export,
wholesale of plastics materials, industrial chemicals, other
Osaka (as given),
Nagoya, Sapporo, Fukuoka, Takamatsu, Hiroshima
China, Thailand,
Hong Kong, Taiwan
(Overseas Offices
of Mitsui & Co Ltd, the parent, are fully utilized)
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
FINANCES FAIR A/SALES Yen 288,518 M
PAYMENTS REGULAR CAPITAL Yen 626 M
TREND UP WORTH Yen
7,798 M
STARTED 1947 EMPLOYES 554
TRADING FIRM, WHOLLY OWNED BY MITSUI &
CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
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. Clients include
mfrs, meat packers, wholesalers, others, nationwide
The sales volume
for Mar/2014 fiscal term amounted to Yen 288,518 million, an 11% up from Yen
260,220 million in the previous term.
Exports to China, and other S/E Asian countries were robust. The recurring profit was posted at Yen 4,539 million
and the net profit at Yen 2,898 million, respectively, compared with Yen 3,468
million recurring profit and Yen 2,663 million net profit, respectively, a year
ago.
For the current
term ending Mar 2015 the recurring profit is projected at Yen 4,600 million and
the net profit at Yen 2,900 million, respectively, on a 1% rise in turnover, to
Yen 290,000 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
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
5,740,650 million, operating profit Yen 275,216 million, recurring profit Yen 455,732 million, net
profit Yen 422,161 million, total assets Yen 11,582,231 million, net worth Yen 3,78,556 million, employees 48,090, pres
Masami Iijima
Nothing
detrimental is known as to the commercial morality of executives.
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, 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 (H/O)
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 |
|
290,000 |
288,518 |
260,220 |
258,586 |
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Recur.
Profit |
|
4,600 |
4,539 |
3,468 |
3,109 |
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Net
Profit |
|
2,900 |
2,898 |
2,663 |
1,853 |
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Total
Assets |
|
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100,674 |
94,172 |
96,435 |
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Current
Assets |
|
|
97,695 |
91,163 |
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Current
Liabs |
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|
92,255 |
86,375 |
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Net
Worth |
|
|
7,798 |
7,273 |
6,201 |
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Capital,
Paid-Up |
|
|
626 |
626 |
626 |
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Div.P.Share(¥) |
|
|
258.00 |
237.00 |
165.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
0.51 |
10.87 |
0.63 |
12.54 |
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Current Ratio |
|
.. |
105.90 |
105.54 |
.. |
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N.Worth Ratio |
|
.. |
7.75 |
7.72 |
6.43 |
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R.Profit/Sales |
|
1.59 |
1.57 |
1.33 |
1.20 |
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N.Profit/Sales |
|
1.00 |
1.00 |
1.02 |
0.72 |
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Return On Equity |
|
.. |
37.16 |
36.61 |
29.88 |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.93.12 |
|
Euro |
1 |
Rs.69.32 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.