MIRA INFORM REPORT
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Report Date : |
11th May 2006 |
IDENTIFICATION DETAILS
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Name : |
FVC
INTERNATIONAL LTD |
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Registered Office : |
Hi-Lark
Gotanda Bldg 902, 1-28-3 Nishigotanda Shinagawaku Tokyo 141-0031 Japan |
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Date of Incorporation : |
Sept 1984 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importers and wholesalers of fresh fruits, vegetables |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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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Maximum Credit Limit : |
YEN 18.3
MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME
FVC INTERNATIONAL LTD
REGD NAME
KK FVC International
MAIN OFFICE
Hi-Lark Gotanda Bldg 902, 1-28-3 Nishigotanda Shinagawaku Tokyo 141-0031 JAPAN
Tel: 03-3493-4421
Fax: 03-3493-4424
URL: N/A
ACTIVITIES
Import, wholesale of fresh fruits,
vegetables
BRANCHES
Nil
OFFICER(S)
SADAMI YANO, PRES
Fumiko Yano, dir
Jun Ishihara, dir
Yen Amount
In million Yen, unless otherwise
stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,222 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 66 M
STARTED 1984 EMPLOYES 7
COMMENT
IMPORTER AND WHOLESALER
SPECIALIZING IN FRUITS & VEGETABLES.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT GOOD FOR MODERATE BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 18.3
MILLION, NORMAL 30 DAYS TERMS.
HIGHLIGHTS
The subject company was
established by Sadami Yano in order to make most of his experience in the
subject line of business. This is a
trading house, wholly owned and managed by the Yano families, specializing in
importing and wholesaling fresh fruits and vegetables. Specifically imports tropical fruits. Imports are from New Zealand, USA, Korea,
Australia, Turkey, China, Taiwan, Mexico, Chile, other. Clients are specialty stores and mfrs in the
fruits & vegetables mfg lines, wholesalers, chain stores, fruits &
vegetable markets, nationwide.
Financials are only partially disclosed as follows.
The sales volume for Dec/2004
fiscal term amounted to Yen 1,222 million, a 2% down from Yen 1,252 million in
the previous term. This is referred to
the harsh competition among the trade, particularly affected by cheap imports
from China and other S/E Asian countries.
The firm also imports from China in greater volumes to cope up with the
competition. The operations came back
to profitability to register Yen 1 million net profit, compared with Yen 9
million net losses a year ago.
For the term ended Dec/2005 the
net profit is believed posted at Yen 1 million, on a 2% rise in turnover, to
Yen 1,250 million. The results should
have been reported to the Taxation Office by the end of March but they have not
been made available officially. The
figures have been verbally obtained from the treasurer and not attested.
The financial situation is
considered RATHER WEAK but should be good for MODERATE business
engagements. Max credit limit is
estimated at Yen 18.3 million, on normal 30 days terms.
REGISTRATION
Date Registered: Sept 1984
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen
10 million
Major shareholders (%): Sadami
Yano (100)
Nothing detrimental is known as to
the commercial morality of executives.
OPERATION
Activities: Imports and wholesales
fresh fruits (50%), and vegetables (50%).
Goods are imported world-widely from New Zealand, USA, Korea, Australia,
Turkey, China, Chile, Mexico, S Africa, Taiwan, other.
Clients: [Wholesalers, chain
stores] Japan Fresh Foods, Nichirei Corp, Sun Globe Foods, Frying Fresh, Glico
Dairy Products, MVM Shoji, Koei Co, other.
No. of accounts: 600
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers]
Imports from New Zealand, USA, Australia, Korea, China, Taiwan, Turkey, Chile,
S Africa, Mexico, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References
Bank of Tokyo-Mitsubishi UFJ
(Gotanda)
Mizuho Bank (Gotanda-Ekimae)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms
Ending: |
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31/12/2005 |
31/12/2004 |
31/12/2003 |
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Annual
Sales |
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1,250
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1,222
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1,252
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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1
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1
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-9
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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66
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65
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Capital,
Paid-Up |
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10
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10
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Div.P.Share(¥) |
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0.00
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0.00
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.29
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-2.40
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-0.79
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Current Ratio |
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.. |
.. |
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N.Worth Ratio |
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.. |
.. |
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N.Profit/Sales |
0.08
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0.08
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-0.72
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Notes: Financials are only
partially disclosed.
Forecast (or estimated) figures
for the 31/12/2005 fiscal term.
RATING EXPLANATIONS
RATING
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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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |