MIRA
INFORM REPORT
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Report Date : |
11.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
NISHIMOTO TRADING CO LTD |
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Registered Office : |
Hamamatsucho Square Bldg, 1-30-5 Hamamatsucho Minatoku Tokyo 106-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Sept 1947 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of
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 661.7 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
NISHIMOTO TRADING CO LTD
REGD NAME
Nishimoto Boeki KK
MAIN OFFICE
Hamamatsucho Square Bldg, 1-30-5 Hamamatsucho Minatoku Tokyo 106-0013
JAPAN
Tel : 03-3438-5651
Fax : 03-3438-5675
URL : http://www.ntcltd.com/
E-Mail address: ntcinfo@ntcltd.com
* Registered at: 4-1-38 Isobedori Hyogoku Kobe
ACTIVITIES
Import, export, wholesale of foodstuffs
BRANCHES
Kobe, Tokyo, Atsugi
OVERSEAS
USA (14), Canada (3), Shanghai
FACTORY(IES)
(subcontracted)
OFFICER(S)
YOSHIO SUSAKI, PRES Kaname
Ogino, s/mgn dir
Shinji Takahashi, dir Atsuhiko
Kimura, dir
Tomohiko Ueda, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 24,095 M
PAYMENTS REGULAR CAPITAL Yen 405 M
TREND STEADY WORTH Yen 3,997 M
STARTED 1947 EMPLOYES 118
COMMENT
TRADING FIRM SPECIALIZING IN FOODSTUFFS. FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 661.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1918 by a certain Nishimoto, on his account, for selling foodstuffs. Incorporated in 1947 the firm has been succeeded by his descendants. This is a trading firm specializing in foodstuffs. Imports from Asia, USA, Europe, etc. Exports fish products to over 5,000 sushi bars in USA, Canada, other.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen
24,095 million, an 18% up from Yen 20,372 million in the previous term. Exports of fish/shell fish for sushi bars
expanded. The operations, on the other hand,
plunged into the red to register Yen 327 million net losses for the term. This is reportedly referred to some NC’s.
For the current term ending Mar 2008 the net profit is
projected at Yen 180 million, on a 4% rise in turnover, to Yen 25,000 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 661.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept
1947
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 8
million shares
Issued: 2,642,648
shares
Sum: Yen
405 million
Major shareholders (%): Tatsumi Sangyo*(71), Yoshio Susaki (23), Company’s Treasury Stock (6)
* Holding company owned by Susaki family
No. of shareholders: 3
Nothing detrimental is known as to ^the commercial morality
of executives.
OPERATION
Activities: Imports, exports and wholesales foodstuffs
(--100%).
(Handling items):
Sake, wine, rice, flour beans, canned foods, boiled foods, vinegars, oils, miso, seasonings, seaweed, kelp, dried seafoods, fishes, vegetables (dried, chilled & frozen), seasoned toppings, noodles, sauces, fruit juices, ice pops, pickled products, tofu (bean curd), fish cakes, wrapper skins, frozen fish & fish roes, frozen processed foods, other.
Exports fish/fishery products to over 5,000 sushi bars in USA,
Canada, Europe, Asia, other.
Clients: [Food stores, wholesalers] Nishimoto Trading of America, Tazaki Foods, Tokyo Mart Pty Ltd, Meidi-Ya, Watami Foods, Camel Coffee, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nissin Foods, Ezaki Glico,
Daisui, Katokichi, Ocean Marine Foods, other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
SMBC (Shimbashi)
MUFG (Shimbashi-Ekimae)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual Sales |
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25,000 |
24,095 |
20,372 |
17,699 |
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Recur. Profit |
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963 |
815 |
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Net Profit |
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180 |
-327 |
374 |
188 |
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Total Assets |
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11,373 |
11,537 |
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Current Assets |
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8,399 |
8,498 |
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Current Liabs |
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4,318 |
3,047 |
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Net Worth |
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3,997 |
4,334 |
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Capital, Paid-Up |
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405 |
405 |
405 |
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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 |
3.76 |
18.28 |
15.10 |
9.27 |
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Current Ratio |
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.. |
194.51 |
278.90 |
.. |
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N.Worth Ratio |
.. |
35.14 |
37.57 |
.. |
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R.Profit/Sales |
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.. |
4.00 |
4.00 |
.. |
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N.Profit/Sales |
0.72 |
-1.36 |
1.84 |
1.06 |
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Return On Equity |
.. |
-8.18 |
8.63 |
.. |
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Notes: Forecast (or estimated) figures for the 31/03/2008
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%)