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Report No. : |
324405 |
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Report Date : |
25.05.2015 |
IDENTIFICATION DETAILS
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Name : |
MATSUTANI CHEMICAL INDUSTRY CO LTD |
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Registered Office : |
5-3 Kita-Itami Itami Hyogo-Pref 664-8508 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2014 |
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Date of Incorporation : |
January 1937 |
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Com. Reg. No.: |
(Hyogo-Itami) 001254 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures & processes starch |
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No. of Employee : |
437 |
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 : |
Slow but correct |
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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.
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Source
: CIA |
Company
name and address
MATSUTANI CHEMICAL INDUSTRY CO LTD
REGD NAME: Matsutani
Kagaku Kogyo KK
MAIN OFFICE: 5-3
Kita-Itami Itami Hyogo-Pref 664-8508 JAPAN
Tel: 072-771-2010
Fax: 072-771-7447
URL: http://www.matsutani.co.jp/
E-Mail address: info@matsutani.co.jp
ACTIVITIES
Mfg, processing of
starch
BRANCHES
Tokyo, Nagoya,
Fukuoka, Hiroshima, Niigata, Takamatsu
OVERSEAS
USA, Korea, China
FACTORIES
At the caption
address; Thailand (JV factory)
OFFICER(S)
HARUYO MATSUTANI,
PRES Eijiro Matsutani, ch
Hiroshi Matsutani,
v ch Yoshinobu Matsutani, v
pres
Masayuki Ueno,
s/mgn dir Kazuhiro Okuma, s/mgn
dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 55,641 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 100 M
TREND STEADY WORTH Yen
18,809 M
STARTED 1937 EMPLOYES 437
COMMENT
MFR OF STARCH
FINANCIAL SITUATION CONSIDERED FARI AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Kameichiro Matsutani in order to
start starch business in Osaka. Present
executives are the founder’s descendants.
Specializes in mfg and processing starch. Has JV factory in Thailand, and with ADM
USA. Mfg factory consists of malt
dextrin factory and granulation factory.
Controls about 50% market share of processed starch domestically. Domestic clients are major food processors
nationwide.
FINANCIAL INFORMATION
The sales volume for Nov/2014 fiscal term
amounted to Yen 55,641 million, a 9% up from Yen 51,204 million in the previous
term. The recurring profit was posted at
Yen 905 million and the net profit at Yen 449 million, respectively, compared
with Yen 1,450 million and Yen 860 million, respectively, a year ago.
For the current term ending Nov 2015 the recurring profit is projected
at Yen 930 million and the net profit at Yen 460 million, respectively, on a 5%
rise in turnover, to Yen 58,400 million.
Demand is steady and expanding.
.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 2,015.7 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Jan 1937
Regd
No.: (Hyogo-Itami)
001254
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 8 million shares
Issued:
2 million shares
Sum:
Yen 100 million
Major
shareholders (%): Mitsubishi Corp (30), Matsutani Shoten (10.1), Hiroshi Ichihara (4.2), Haruyo
Matsutani (4.1), Eijiro Matsutani (4.1)
No.
of shareholders: 45 (about)
Nothing detrimental is known as to
the commercial morality of executives.
OPERATION
Activities: Manufactures
& processes starch (100%).
Clients: [Food processors,
mfrs] Mitsubishi Corp (30%), Matsutani Shoji (20%),Morinaga Milk Ind (5%),
Nissin Foods (5%), Meiji Dairies, Ajinomoto Co Inc, Yamazaki Baking, Nippon
Meat Packers, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers]
Asean Trading (30%), Mitsubishi Corp, Zen-Noh, Marubeni Corp, Mitsui & Co,
Itochu Corp, Osaka Gas, other
Payment record: Slow but Correct
Location: Business area in
Itami, Hyogo-Pref. Office premises at
the caption address are owned and maintained satisfactorily.
Bank
References:
MUFG (Osaka-Chuo)
Norin Chukin Bank
(Osaka)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
|
Terms Ending: |
30/11/2015 |
30/11/2014 |
30/11/2013 |
30/11/2012 |
|
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Annual
Sales |
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58,400 |
55,641 |
51,204 |
47,010 |
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Recur.
Profit |
|
930 |
905 |
1,450 |
2,830 |
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Net
Profit |
|
460 |
449 |
860 |
1,500 |
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Total
Assets |
|
|
37,548 |
36,419 |
31,315 |
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Current
Assets |
|
|
26,282 |
25,052 |
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Current
Liabs |
|
|
10,973 |
11,521 |
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Net
Worth |
|
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18,809 |
18,350 |
17,489 |
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Capital,
Paid-Up |
|
|
100 |
100 |
100 |
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Div.P.Share(¥) |
|
|
60.00 |
60.00 |
60.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.96 |
8.67 |
8.92 |
6.50 |
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Current Ratio |
|
.. |
239.52 |
217.45 |
.. |
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N.Worth Ratio |
|
.. |
50.09 |
50.39 |
55.85 |
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R.Profit/Sales |
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1.59 |
1.63 |
2.83 |
6.02 |
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N.Profit/Sales |
|
0.79 |
0.81 |
1.68 |
3.19 |
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Return On Equity |
|
.. |
2.39 |
4.69 |
8.58 |
Notes: Forecast
(or estimated) figures for the 30/11/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.99.67 |
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Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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.