MIRA
INFORM REPORT
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Report Date : |
13th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
ZEN
NOH GREEN RESOURCES CORPORATION |
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Registered Office : |
Nittsu-Sumisho
Kanda Bldg, 1-10 Kanda-Ogawacho Chiyodaku Tokyo 101-0052, 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 : |
May
1969 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of fertilizers, farm machinery &
equipment, packaging materials, warehousing, logistics operations for farm
households of about 3 million, under Zen-Noh co-operatives nationwide. |
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 766.2 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
ZEN NOH
GREEN RESOURCES CORPORATION
REGD NAME
Zen-Noh
Green Resources KK
MAIN OFFICE
Nittsu-Sumisho
Kanda Bldg, 1-10 Kanda-Ogawacho Chiyodaku Tokyo 101-0052 JAPAN
Tel : 03-5209-1211
Fax : 03-3225-1123
URL :
http://www.zgr.jp
E-Mail address : zgrweb@zgr.jp
ACTIVITIES
Freight forwarder, warehousing, logistics operations
BRANCHES
Niigata, Kashima, Hachinohe, Hiroshima, Kinuura (Aichi)
OVERSEAS
Shanghai
OFFICERS
MASAO FUJIMURA, PRES Chotaro
Mukai, s/mgn dir
Yoichi Taniguchi, mgn dir Tadashi
Shirai, mgn dir
Takanori Fukuda, dir Takehisa
Fukuda, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 19,354 M
PAYMENTS REGULAR CAPITAL Yen 800 M
TREND STEADY WORTH Yen 2,860 M
STARTED 1969 EMPLOYES 110
COMMENT
LOGISTICS OPERATION, OWNED BY ZEN-NOH COOP. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 766.2 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Zen-Noh (National
Federation of Agricultural Co-operative Association) to engage in
transportation and logistics operations of fertilizers, farm equipment and
machinery. In Apr 2005, was transferred
business of import/export of fertilizers and agricultural equipment, packaging
businesses from a sister company and renamed as captioned. This is the core of logistics center of
coops under Zen-Noh which controls about 3 million farm households in Japan.
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 19,354
million, a 250% sharp rise from Yen 5,526 million in the previous term. This is thanks to the merger and transfer of
businesses from sister firms. The net
profit was posted at Yen 171 million, up from Yen 140 million a year ago.
For the current term ending Mar 2007 the net profit is projected
at Yen 175 million, on a 3% rise in turnover, to Yen 20,000 million. The firm projects more than 10% rise in
sales turnover.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 766.2 million, on 30 days normal terms.
REGISTRATION
Date Registered : May 1969
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
6.4 million shares
Issued :
1.6 million shares
Sum :
Yen 800 million
Major shareholders (%)
Zen-Noh (90%), Corp Chemical (10)
No. of shareholders: 2
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Import, export, wholesale of fertilizers, farm
machinery & equipment, packaging materials, warehousing, logistics
operations for farm households of about 3 million, under Zen-Noh co-operatives
nationwide.
Clients
[Farmers, coops] Zen-Noh Coop (70%), Coop Chemical, Hokuetsu Paper
Mills, Engelhard, other.
No. of accounts
1,000
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Nippon Express, Eiko Line, Rinko Corp, Aichi
Kaiun, Moji Koun, Kato Kaiun, Sumikin Transport Service, other.
Payment record
Regular
Location
Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Norin Chukin Bank (H/O)
MUFJ (Shin-Marunouchi)
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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20,000
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19,354
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5,526
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Recur.
Profit |
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332 |
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Net
Profit |
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175 |
171 |
140 |
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Total
Assets |
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6,118
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Current
Assets |
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2,024
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Current
Liabs |
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1,993
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Net
Worth |
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2,860
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Capital,
Paid-Up |
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800 |
800 |
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Div.P.Share(¥) |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.34 |
250.24
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-0.54
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Current Ratio |
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101.56
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N.Worth Ratio |
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46.75
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R.Profit/Sales |
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1.72 |
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N.Profit/Sales |
0.88 |
0.88 |
2.53 |
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Return On Equity |
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5.98 |
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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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