MIRA
INFORM REPORT
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Report Date : |
30.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
KOYO MERCANTILE CO LTD |
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Registered Office : |
Ozu Honkan Bldg, 3-6-2 Nihombashi-Honcho Chuoku Tokyo 103-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
April 1954 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Ingredients for Food, Pharmaceuticals
and Feeds |
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 96.5 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
KOYO MERCANTILE CO
LTD
REGD NAME: KK Koyo Shokai
MAIN OFFICE: Ozu Honkan Bldg, 3-6-2 Nihombashi-Honcho
Chuoku Tokyo 103-0023 JAPAN
Tel:
03-3639-8555 Fax: 03-3667-9719
E-Mail address:info@koyojapan.jp
ACTIVITIES
Import, wholesale of ingredients for food, pharmaceuticals
& feeds
BRANCHES
Osaka
FACTORY(IES)
Chiba (Laboratory)
OFFICER(S)
MARIKO KAEDE, PRES
Yoshitatsu Koga, s/mgn dir
Masanori Usui, s/mgn dir
Koichi Masuda, mgn dir
Tsuneo Tominaga, dir
Toshiya Kanazaki, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,742 M
PAYMENTS REGULAR CAPITAL Yen 25 M
TREND STEADY WORTH Yen 1,788 M
STARTED 1954 EMPLOYES 47
COMMENT
IMPORTER OF FOOD, PHARMACEUTICAL & FEED
INGREDIENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 96.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established as importer of soybean lecithin from Rose & Roe, USA. Gradually expanded import sources, acting as import agent for overseas makers, and now handles ingredients for food, pharmaceuticals and feeds. Goods are imported centrally from USA, Holland, France, Malaysia, other. Clients are domestic confectionery mfrs, bakeries, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2008 fiscal term amounted to Yen 3,742 million, a 5% up from Yen 3,569 million in the previous term. Business expanded but rising costs of operations ate into profits. Recurring profit was posted at Yen 227 million (down from Yen 341 million) and the net profit at Yen 38 million (down from 241 million). Some NC’s are reported, but not confirmed.
For the current term ending Mar 2009 the recurring profit is projected at Yen 230 million, on a 7% rise in turnover, to Yen 4,000 million. Business is seen uprising, particularly for food industries
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 96.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1954
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 200,000 shares
Issued: 50,000 shares
Sum: Yen 25 million
Major shareholders (%)
Mariko Kaede (55), Satori Kaede (22), Michi Kaede (21), Employees’ S/Holding Assn (20), Mineko Koga (4)
No. of shareholders: 8
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales ingredients for food, pharmaceuticals and feeds: food starches & modified starches, polydextroses, wheat protein, soya proteins, food emulsifiers, soy lecithin, spices, natural colors, natural seasonings, yeast extract, etc; bread base, concentrate, malt extract, dough, conditioner,; palm tocotrienol complex, natural carotenoid mixture, puified lutein, soy isoflavones, lecithins, isomerized saftflower oil, pharmaceutical excipients, frozen concrete vegetable juice, natural vegetable concentrate juice, vegetable juice, blend; yeasts, chromlum Yeast, other (--100%) (--All cited from the firm’s website)
Clients
[Food mfrs, confectionery mfrs] Morinaga Milk Ind, Morinaga & Co, Fujiya Co, QP Foods, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Imports from: Ross & Roe, Dpi of Eastman Kodak, Kalsec, Eastman Chemical, AE Staley, Caravan Products, Riceland Foods, Central Soya, Florida Food, Kemin, H Reisman, WM Bolthourse, TOCP, Natural Products (--USA), Bio Spriger (Frnce), other from Netherlands, Thailand, Germany, etc
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Kanda-Ekimae)
Mizuho Bank (Kanda-Ekimae)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2009 |
31/03/2008 |
31/03/2007 |
31/03/2006 |
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Annual
Sales |
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4,000 |
3,742 |
3,569 |
4,028 |
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Recur.
Profit |
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230 |
227 |
341 |
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Net
Profit |
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40 |
38 |
241 |
211 |
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Total
Assets |
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4,198 |
4,502 |
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Current
Assets |
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2,959 |
3,104 |
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Current
Liabs |
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2,266 |
2,566 |
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Net
Worth |
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1,788 |
1,770 |
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Capital,
Paid-Up |
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25 |
25 |
25 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.89 |
4.85 |
-11.40 |
18.16 |
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Current Ratio |
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.. |
130.58 |
120.97 |
.. |
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N.Worth Ratio |
.. |
42.59 |
39.32 |
.. |
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R.Profit/Sales |
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5.75 |
6.07 |
9.55 |
.. |
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N.Profit/Sales |
1.00 |
1.02 |
6.75 |
5.24 |
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Return On Equity |
.. |
2.13 |
13.62 |
.. |
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Notes: Forecast (or estimated) figures for the 31/03/2009
fiscal term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.49 |
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UK Pound |
1 |
Rs.84.21 |
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Euro |
1 |
Rs.66.33 |
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%)