MIRA
INFORM REPORT
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Report Date : |
2nd
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
FEDERATION
OF AGRICULTURAL COOPERATIVES |
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Registered Office : |
Hokuren
Bldg, West 1-3 Kita-4-jo Chuoku Sapporo060-0006, Japan |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007
(Estimated) |
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Date of Incorporation : |
October
1954 |
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Legal Form : |
Federation cooperative (Cooperative Organization) |
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Line of Business : |
Agricultural cooperative handling frozen foods, retorted foods,
vegetables, fruits, sugar, mineral water, dairy products, rice, wheat, beans,
other foodstuffs. |
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 8,44.2 Million |
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Status : |
Fair |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
FEDERATION
OF AGRICULTURAL COOPERATIVES
REGD NAME
Hokuren
Nogyo Kyodo Kumiai Rengokai
MAIN OFFICE
Hokuren
Bldg, West 1-3 Kita-4-jo Chuoku Sapporo060-0006 JAPAN
Tel :
011-232-6116
Fax : 011-210-0425
URL : http://www.hokuren.or.jp
E-Mail address :
info@hokuren.or.jp
ACTIVITIES
Agricultural cooperative
BRANCHES
Hokkaido (13), Tokyo, Osaka, Nagoya, Sendai, Fukuoka
OFFICERS
MASAO YANO, CH & PRES Koichi
Okumura, v pres
Toshiaki Satoh, v pres Masaaki
Ado, s/mgn dir
Katsumi Takaishi, mgn dir Hironori
Ishikawa, mgn dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,444,141 M
PAYMENTS REGULAR CAPITAL Yen 21,262 M
TREND STEADY WORTH Yen 66,913 M
STARTED 1954 EMPLOYES 2,149
COMMENT
AGRICULTURAL COOPERATIVE.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 8,44.2 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
This is agricultural cooperative (Federation) based in Hokkaido
and covering Hokkaido area. Governs and
controls agricultural activities in Hokkaido, having 59,000 farms with 144
cooperative members in Hokkaido. Handles
all agricultural products. Operates 12 retail stores in Hokkaido. Holds 34 subsidiaries in Hokkaido.
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen
1,444,142 million, a 0.7% up from Yen 1,433,696 million in the previous
term. Business is steady. The recurring profit was posted at Yen 6,889
million and the net profit at Yen 3,786 million, respectively, compared with
Yen 6,026 million recurring profit and Yen 4,008 million net profit,
respectively, a year ago.
For the current term ending Mar 2007 the net profit is projected
at Yen 3,800 million, on a 0.41% rise in turnover, to Yen 1,450,000
million. Business continues steady.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 8,444.2 million, on 30 days normal terms.
REGISTRATION
Date Registered : Oct 1954
Legal Status :
Federation cooperative (Cooperative Organization)
Capital :
Yen 21,262 million (contribution)
Major shareholders (%)
144 subscribers
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Agricultural cooperative handling frozen foods,
retorted foods, vegetables, fruits, sugar, mineral water, dairy products, rice,
wheat, beans, other foodstuffs (--100%).
(Sales breakdown):
Rice & wheat (16), fruits & vegetables (12), livestock
products (8), sugar (3), milk & dairy products
(23), fertilizer, feeds, agricultural chemicals (11), fuel oil, automobiles
(8), farm equipment, seeds & seedlings, others (--19%).
Clients
[Agricultural coops, mfrs, wholesalers] Zen-Noh, Yotsuba Milk
Products, Meiji Dairies Corp, Snow Brand Milk Products, Snow Brand Milk
Products, other.
No. of accounts
2,000
Domestic areas of activities
Centered in Hokkaido
Suppliers
[Producers, farm coops, wholesalers, members ] Zen-Noh, Yotsuba
Milk Products, other.
Payment record
Regular
Location
Business area in Sapporo, Hokkaido. Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Norin Chukin Bank (Sapporo)
JA Bank (H/O)
Relations: Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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1,450,000
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1,444,142
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1,433,696
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Recur.
Profit |
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6,889
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6,026
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Net
Profit |
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3,800
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3,786
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4,008
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Total
Assets |
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938,240
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926,989
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Current
Assets |
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874,811
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865,679
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Current
Liabs |
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834,594
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829,726
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Net
Worth |
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66,913
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63,730
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Capital,
Paid-Up |
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21,262
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21,262
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Div.P.Share(¥) |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.41 |
0.73 |
-0.46
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Current Ratio |
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104.82
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104.33
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N.Worth Ratio |
.. |
7.13 |
6.87 |
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R.Profit/Sales |
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.. |
0.48 |
0.42 |
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N.Profit/Sales |
0.26 |
0.26 |
0.28 |
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Return On Equity |
.. |
5.66 |
6.29 |
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Note: Forecast (or
estimated) for the 31/03/2007 fiscal term.
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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