MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
NIKKO BOEKI CO LTD |
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Registered Office : |
IK Bldg 2F, 1-18-2 Ohmorikita Ohtaku Tokyo 143-0016 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
June 1953 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Vegetables, Fruits, Ice Creams |
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 22.3 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
NIKKO BOEKI CO LTD
REGD NAME: Nikko Boeki KK
MAIN OFFICE: IK Bldg 2F, 1-18-2 Ohmorikita Ohtaku Tokyo
143-0016 JAPAN
Tel:
03-5753-2164 Fax: 03-5753-7078
* The given
address is old: moved to the caption address in three years ago.
URL: http://www.frupara.co.jp/
E-Mail address:(thru the URL)
ACTIVITIES
Import, wholesale of vegetables, fruits, ice creams
BRANCHES
Osaka
OFFICER(S)
Chiyo Kanai, ch
SEIJI MOROBOSHI, PRES
Hideyuki Moroboshi, dir
Toshiyuki Okumura, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 4,941 M
PAYMENTS REGULAR CAPITAL Yen 50 M
TREND SLOW WORTH Yen 144 M
STARTED 1953 EMPLOYES 46
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN FRUITS & VEGETABLES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 22.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally by Hajime Kanai in order to import fruits & vegetables, and has been succeeded by the resent executives. Chiyo Kanai, now ch, is the founder’s widow. In 1985, opened imports of Sunkist oranges from Sunkist Growers, USA. Vegetables are imported centrally from China. Handles ice cream & other confectionery. Clients are major confec- tionery makers, chain stores, other.
FINANCIAL INFORMATION
The sales volume for Sept/2007 fiscal term amounted to Yen 4,941 million, a 17% down from Yen 5,926 million in the previous term. The imports of vegetables from China were reportedly banned and reduced due to the problem of fertilizer residues. The operations dipped into the red to register Yen 106 million net loss for the term. The loss is also referred to disposal expenses & costs of one of its JV firms.
For the current term ending Jul 2008 the operations are expected to come back to profitability to post Yen 15 million net loss on a 7% rise in turnover, to Yen 5,330 million. The firm targets even 5,500 million is possible.
The financial situation is considered maintained FAIR and good for ORDINARY business
engagements. Max credit limit is estimated at Yen 22.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1953
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 400,000 shares
Issued: 100,000 shares
Sum: 50 million
Major shareholders (%)
Haruhiko Moroboshi (59), Chiyo Kanai (14), Tadashi Nakamura (7), Masatoshi Saitoh (6), Ichiro Udagawa (6)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales fresh fruits & vegetables, ice creams, confectionery, others (--100%).
Clients
[Food makers, chain stores, confectionery mfrs] Cozy Corner Confectionery, Seiyu Ltd, Ryoshoku Ltd, Takase Busssan Co, Sendai Chuo Seika Oroshiuri, Daisho, Asahi Foods, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, growers, wholesalers] Itochu Corp, Sunkist Growers (USA), IVC Partners, Seiju Chuo Seika, other.
Imports from China, USA, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Kamata)
SMBC (Ueno)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
30/09/2008 |
30/09/2007 |
30/09/2006 |
30/09/2005 |
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Annual
Sales |
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5,300 |
4,941 |
5,926 |
5,886 |
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Recur.
Profit |
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45 |
44 |
30 |
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Net
Profit |
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15 |
-106 |
14 |
17 |
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Total
Assets |
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2,255 |
2,109 |
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Current
Assets |
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1,970 |
1,823 |
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Current
Liabs |
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1,735 |
1,348 |
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Net
Worth |
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144 |
263 |
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Capital,
Paid-Up |
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50 |
50 |
50 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
25.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.27 |
-16.62 |
0.68 |
10.78 |
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Current Ratio |
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.. |
113.54 |
135.24 |
.. |
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N.Worth Ratio |
.. |
6.39 |
12.47 |
.. |
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R.Profit/Sales |
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0.85 |
0.89 |
0.51 |
.. |
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N.Profit/Sales |
0.28 |
-2.15 |
0.24 |
0.29 |
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Return On Equity |
.. |
-73.61 |
5.32 |
.. |
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Notes: Forecast (or estimated) figures for the 30/09/2008 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%)