MIRA
INFORM REPORT
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Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
KOHYO CO LTD |
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Registered Office : |
5-4-19 Shinsho Yokkaichi Mie-Pref 510-0064 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
July 1971 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Fishes, Fishery Products |
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 1,135.8 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
KOHYO CO LTD
REGD NAME: KK Kohyo
MAIN OFFICE: 5-4-19 Shinsho
Yokkaichi Mie-Pref 510-0064 JAPAN
Tel:
0593-54-5411 Fax: 0593-54-3447
E-Mail address: kohyo@kohyoj.co.jp
ACTIVITIES
Import, export, wholesale of fishes, fishery products
BRANCHES
Fuzhou (China), Yangon (Myanmar)
SUBSIDIARIES
Kohyo Holland BV; Kohyo America Inc
FACTORY(IES)
(subcontracted)
OFFICER(S)
SHINTARO HAYASHI, PRES
Yasumasa Shimizu, mgn dir
Masashi Maeda, dir
Masashi Ohtsuki, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 36,629 M
PAYMENTS REGULAR CAPITAL Yen 98 M*
TREND STEADY WORTH Yen 4,172 M
STARTED 1971 EMPLOYES 117
*
Capital decreased in Apr/2007 from Yen 124 million.
COMMENT
TRADING
HOUSE SPECIALIZING IN MARINE & AGRICULTURAL PRODUCTS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 1,135.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
This is a trading house for import,
export and wholesale of fishes, fishery products, farm products, livestock
products, processed foods, canned foods, etc.
Also handles wines, beer, soft drinks, fishing nets & gears, other. Main products are prawns, lobsters, shrimps
and shellfish. Has two overseas
branches in China and Yangon (Myanmar).
Overseas subsidiaries are in Amsterdam and Seattle for purchasing fishes
and export into Japan. Fishery products
are subcontracted processing mostly to factories in China. In July 2003, newly started a
fertilizer/feed division. Domestic
clients are fishery markets, fishery dealers, wholesalers, etc. Completed the headquarters main office in
Feb 2004.
FINANCIAL INFORMATION
The
sales volume for Jun/2007 fiscal term amounted to Yen 36,629 million, a 7% up
from Yen 34,387 million in the previous term, due partially to the weaker Yen
against foreign currencies. Price hikes
for fishery products also contributed.
Profits improved. The recurring
profit was posted at Yen 503 million and the net profit at Yen 252 million,
respectively, compared with Yen 233 million recurring profit and Yen 109
million net profit, respectively, a year ago.
For
the current term ending Jun 2008 the recurring profit is projected at Yen 510
million and the net profit at Yen 255 million, respectively, on a 2% rise in
turnover, to Yen 37,500 million.
Business is reportedly on the uptrend.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 1,135.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jul
1971
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 200,000
shares
Issued: 196,000
shares
Sum: Yen
98 million*
* Decreased the capital in Apr
2007 from the previous Yen 124 million.
Major shareholders (%)
Hideko
Kuromiya (58), Isao Ohta (14), Japan Trans City (12),
Yoshiharu
Hirano (5), UFJ Bank (4)
No. of
shareholders: 14
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
A trading house for import, export and wholesale of prawns, shrimps, lobsters
(--25%), frozen fishes from North seas
(20%), frozen fishes from South seas (15%), airfreight fresh fishes (8%),
processed fishery products (14%), fish feeds, liquors, farm products, fishing
nets & gears, others
(--18%).
(Export 10-15%)
Clients
[Fishery
markets, specialty dealers] Daiei Taigen, Daisui, Osaka Uoichiba, Daiichi
Suisan, Yokohama Reito, other. Exports
to Kohyo USA (Seattle), other.
No. of accounts
2,000
Domestic areas of activities
Nationwide
Suppliers
[Mfrs,
wholesalers] Imports from Kohyo USA, Kohyo Holland, Cresting Wave, Hannan, other. Imports processed foods
from China.
Payment record
Regular
Location
Business
area in Yokkaichi City, Mie-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Mizuho Bank (Yokkaichi)
MUFG (Yokkaichi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
30/06/2008 |
30/06/2007 |
30/06/2006 |
30/06/2005 |
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Annual
Sales |
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37,500 |
36,629 |
34,387 |
32,273 |
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Recur.
Profit |
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510 |
503 |
233 |
659 |
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Net
Profit |
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255 |
252 |
109 |
359 |
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Total
Assets |
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10,998 |
10,691 |
10,365 |
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Current
Assets |
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9,825 |
9,463 |
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Current
Liabs |
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6,559 |
6,353 |
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Net
Worth |
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4,172 |
3,949 |
3,716 |
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Capital,
Paid-Up |
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124 |
124 |
124 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.38 |
6.52 |
6.55 |
3.79 |
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Current Ratio |
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.. |
149.79 |
148.95 |
.. |
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N.Worth Ratio |
.. |
37.93 |
36.94 |
35.85 |
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R.Profit/Sales |
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1.36 |
1.37 |
0.68 |
2.04 |
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N.Profit/Sales |
0.68 |
0.69 |
0.32 |
1.11 |
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Return On Equity |
.. |
6.04 |
2.76 |
9.66 |
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Notes:
Forecast (or estimated) figures for 30/06/2008 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. |
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%)