MIRA
INFORM REPORT
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Report Date : |
18.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
INABA FOODS CO LTD |
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Registered Office : |
114-1 Kitada Yuicho Iharagun Shizuoka-Pref
421-3014 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
September, 1948 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing
of canned tuna flakes and pet foods. |
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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Maximum Credit Limit : |
Yen 79.7
million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
INABA FOODS CO LTD
REGD NAME
Inaba
Shokuhin KK
MAIN OFFICE
114-1
Kitada Yuicho Iharagun Shizuoka-Pref 421-3014 JAPAN
Tel:
0543-75-3111
Fax:
0543-76-0308
URL: http://www.inaba-foods.co.jp/
E-Mail
address: info@inaba-foods.co.jp
*.. The
given address is its Tokyo Head Office & Factory, and also Head Office of
Inaba Pet Food Co Ltd,
subsidiary maker of pet foods branded “Chao”.
(See Registration)
ACTIVITIES
Mfg of
canned tuna flakes, pet foods
BRANCHES
Tokyo
(as given), Sendai, Shizuoka, Osaka, Sapporo, Nagoya, Fukuoka
FACTORY(IES)
At the
caption address, Tokyo (as given)
OFFICERS
ATSUHIRO
INABA, PRES Keita
Inaba, v pres
Yoichi
Minaki, mgn dir Masahiko
Yoda, mgn dir
Yoshihiro
Takai, dir Tomohide
Inagaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 14,665 M
PAYMENTS REGULAR CAPITAL Yen 15 M
TREND STEADY WORTH Yen
507 M
STARTED 1948 EMPLOYES 222
COMMENT
MFR
SPECIALIZING IN CANNED FUNE FLAKES & PET FOODS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 79.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in the 1830’s by Yoshizo Inaba for making bonito flakes, on is account. Incorporated in 1948, the firm has been succeeded by his descendants and focused on mfg tuna flakes in cans. Today nationally known by the name of “Inaba Light Tuna” (in cans) and nationwide distributed. There is almost no person in Japan, without exaggeration, who does not know the name of this tuna. The products are distributed nationwide at department stores, supermarkets, convenience stores, food stores, etc, nation-wide. The firm also mfrs pet foods branded as “Chao”. Clients are major food processors, food wholesalers, specialty stores, etc, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 14,665 million, an almost similar turnover in the previous term. The operations, however, turned into the red to register Yen 167 million net losses for the term. The losses are said referred to the rising fuel costs and operations. However, the firm does not disclose this red ink openly for fear of not impairing its brand name, reportedly. We have obtained the red ink figures from the special sources.
The
financial situation is considered maintained FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 79.5 million, on 30 days normal terms.
REGISTRATION
Date
Registered : Sept 1948
Legal
Status : Limited Company
(Kabushiki Kaisha)
Authorized : 1.2 million shares
Issued : 300,000 shares
Sum : Yen 15 million
Major shareholders
(%) : Atsuhiro Inaba (52), Shintaro
Inaba (25)
No. of
shareholders : 10
*.. Inabe Pet Food Co Ltd, founded 1997, Tokyo (at the given address), mfr of pet foods branded “Chao”, capital Yen 30 million, turnover Yen 6,500 million, employees 30, pres Atsuhiro Inaba, concurrently.
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures tuna flakes branded as “Inaba Light Tuna” (in cans) (60%), pet foods branded as “Chao” (35%), other marine foods in cans, soft drinks, others (--5%).
Clients
[Food processors, wholesalers, chain stores] Mitsui & Co, Itochu Corp, Yuasa Funashoku, Ryoshoku Ltd, Kokubu & Co, Kato Sangyo, Sanyo Do Co, Mitsui Foods, Inaba Pet Food, Nippon Access Inc, other.
No. of
accounts: 2,000
Domestic
areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Itochu Corp, Mitsui & Co, Mitsubishi Corp, Toyo Seikan, Unicoop Japan, Rengo Co, Yaizu Gyokyo, Daiei Tsusho, Yamanashi Kanzume, other.
Payment
record: Regular
Location
Business area in Iharagun, Shizuoka-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Shizuoka
Bank (Yui)
Shimizu
Bank (Yui)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
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Annual Sales |
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14,665 |
14,615 |
14,201 |
14,442 |
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Recur. Profit |
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90 |
131 |
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Net Profit |
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-167 |
3 |
90 |
-248 |
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Total Assets |
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7,256 |
6,551 |
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Current Assets |
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5,334 |
4,531 |
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Current Liabs |
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4,897 |
4,114 |
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Net Worth |
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507 |
674 |
679 |
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Capital, Paid-Up |
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15 |
15 |
15 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.34 |
2.92 |
-1.67 |
3.70 |
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Current Ratio |
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108.92 |
110.14 |
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N.Worth Ratio |
.. |
9.29 |
10.36 |
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R.Profit/Sales |
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0.62 |
0.92 |
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N.Profit/Sales |
-1.14 |
0.02 |
0.63 |
-1.72 |
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Return On Equity |
.. |
0.45 |
13.25 |
.. |
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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 |
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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