MIRA
INFORM REPORT
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Report Date : |
17.08.2007 |
IDENTIFICATION DETAILS
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Name : |
NESTLE PURINA PETCARE LTD |
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Registered Office : |
Sannomiya Minami Bldg 12F, 7-15 Miyukidori Chuoku |
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Country : |
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Date of Incorporation : |
July 1987 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of pet foods |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
YEN 630 MILLION |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
COMPANY NAME
NESTLE PURINA PETCARE LTD
REGD NAME: Nestle Purina Petcare
KK
ADDRESS
MAIN OFFICE
Sannomiya Minami Bldg 12F, 7-15 Miyukidori Chuoku
Tel : 078-230-7133
Fax : 078-230-7130
URL : http://www.purina.co.jp/
E-Mail : (thru the
URL)
ACTIVITIES
Import, wholesale of pet foods
BRANCHES
OFFICERS
J R Balgus, rep ch
THOMAS HAMMER, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 36,000 M*
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen N/A
STARTED 1987 EMPLOYES 100
Financials are not disclosed and estimates only.
COMMENT
TRADING DIVISION SPECIALIZING IN PET FOODS, WHOLLY OWNED BY
NESTLE JAPAN HOLDINGS LTD (SUBSIDIARY OF NESTLE SA, SWITZ). FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR CREDIT
ENGAGEMENTS: US$500,000 / O/A 45 DAYS.
MAX CREDIT LIMIT: YEN 630 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was originally formed in 1985 jointly by
three parties: Nestle Japan KK, Mitsui & Co Ltd (leading general trading
house of Japan) and Nippon Haigo Shiryo KK (compound fertilizer mfr), named as
Carnation Nippai KK (short for Nippon Haigo Shiryo in Japanese), and later in
July 1987 when Nestle Japan purchased all the shares from the two partners,
became Friskies KK. In Sept 2002 renamed
as captioned. J R Balgus is concurrently
pres at the parent. Goods are
distributed through major general trading houses down to department stores,
supermarkets, convenience stores, pet shops, consumers, other. The subject firm imports and markets pet
foods centrally, all other related equipment and supplies.
FINANCIAL INFORMATION
The subject does not disclose any of its financials and the
figures contained here are all derived from the parent’s turnover obtained from
outside sources. It is understood that
the turnover at the subject firm accounts for approx 10% of the group total
sales in
The sales volume for Dec/2006 fiscal term amounted to Yen
36,000 million, a 3% up from Yen 35,000 million in the previous term. Demand for pet foods rose rapidly on the back
of increasing aged population, particularly
among those who are left and live alone.
The profits are not made open.
For the current term ending Dec 2007 the sales are projected
to leap 5% to Yen 38,000 million, according to outside sources. The figures are not confirmed by the subject
firm.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 630 million, on 30 days normal terms. The proposed amount is considered well within
the firm’s financial capabilities, backed by the parent, Nestle Japan Holdings.
REGISTRATION
Date Registered : Jul 1987
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
400 shares
Issued :
400 shares
Sum :
Yen 20 million
Major shareholders (%): Nestle Japan Holding Ltd*(100)
Holding company of Nestle group Japan, 100% owned by Nestle SA,
Switz; founded 1933, capital Yen 20 million, turnover Yen 360,000 million
(reported), employees approx 3,500, CEO J R Balgus.
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities :
Imports and wholesales pet foods, other related supplies: canned cat foods
(30%), dried cat foods (20%), canned dog foods (30%), dried
dog foods (20%),
Brands :
Friskies, MONEPETIT, ALPO (--cat foods), PROPLAN, ONE (--dog foods),
other.
Clients :
[Wholesalers, mfrs] Mitsui & Co (30%), Itochu Corp, Mitsubishi Corp, other
No. of accounts :
Limited to major general trading houses
Domestic areas of activities :
Nationwide
Suppliers :
[Mfrs] Supplied from Nestle
Payment record
Regular
Location
Business area in
Bank References
SMBC (
Mizuho Corporate Bank (
Relations: Satisfactory
FINANCES
(In Million Yen)
NOT MADE AVAILABLE
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. |
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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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%)