MIRA
INFORM REPORT
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Report Date : |
07.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
TOKYO FOOD BOEKI LTD |
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Registered Office : |
Ervic Ningyocho Bldg 2F, 1-2-5 Nihombashi-Ningyocho Chuoku Tokyo
103-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2007 |
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Date of Incorporation : |
May 1999 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Pet Food, Coffee Beans |
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 82.6 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
TOKYO FOOD BOEKI
LTD
REGD NAME: Tokyo Food Boeki KK
MAIN OFFICE: Ervic Ningyocho Bldg 2F, 1-2-5
Nihombashi-Ningyocho Chuoku Tokyo 103-0013
JAPAN
Tel:
03-5651-1780 Fax: 03-5651-1789
E-Mail address:info@tfb.co.jp
ACTIVITIES
Import, wholesale of pet food, coffee beans
BRANCHES
Nil
OFFICER(S)
NAOFUMI TAKAHASHI, PRES
Masakazu Hirose, ch
Naoki Tachibana, v pres
Tomohisa Ishii, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,420 M
PAYMENTS REGULAR CAPITAL Yen 68 M
TREND STEADY WORTH Yen 338 M
STARTED 1999 EMPLOYES 16
COMMENT
TRADING FIRM SPECIALIZING IN PET FOODS & COFFEE
BEANS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CFREDIT
ENGAGEMENTS: US$200,000 / D/A 30 DAYS.
MAX CREDIT LIMIT
YEN 82.6 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Masakazu Hirose, now ch, in order to make most of his experience in the subject line of business. Naofumi Takashi took the office of pres in Apr 2005. This is a trading firm specializing in import pet foods and coffee beans. 50% of the pet foods are imported from Bush Pet Food Pty Ltd (Australia), also from China. Coffee beans are imported from Brazil, Columbia, Guatemala, etc. Also handles tropical fish.
FINANCIAL INFORMATION
The sales volume for Jul/2007 fiscal term amounted to Yen 3,420 million, a 5% up from Yen 3,249 million in the previous term. The net profit rose to Yen 166 million from Yen 34 million a year ago. Pet food import rose & materials prices increased
For the current term ending Jul 2008 the net profit is projected at Yen 190 million, on a 26% rise in turnover, to Yen 4,300 million. The firm is bullish that this figure will be achieved with the rising demand for pet food and coffee beans.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 82.6 million, on 30 days normal terms. The proposed amount is considered well within the firm’s financials capacities.
REGISTRATION
Date Registered: May 1999
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,360 shares
Issued: 1,360 shares
Sum: Yen 68 million
Major shareholders (%)
Naofumi Takahashi (24), Masakazu Hirose (24), Nippon Pet Food (18), Takashi Asai (18), Naoki Tachibana (15), Tomoyuki Ishii (3)
No. of shareholders: 15
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales pet foods: wet pouch, canned dog food, other types of products from Bush’s Intl (Australia); chicken fillet jerky, etc from Dalian Zhongjiang (China), coffee beans from Brazil, Columbia, Guatemala, tropical fish (--100%).
Clients
[Pet food mfrs, wholesalers] Nippon Pet Food, DCM Japan, Joyful Honda, Unicharm Petcare, Yamahisa, Aeon Ind, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Imports from Bush’s Int’l (Australia) (50%), Dalian Zhongliang (China) (30%), RS Cannery (10%), other from Brazil, Columbia, Guatemala for coffee beans
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Nihombashi)
SMBC (Tokyo-Chuo)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/07/2008 |
31/07/2007 |
31/07/2006 |
31/07/2005 |
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Annual
Sales |
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4,300 |
3,420 |
3,249 |
2,960 |
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Recur.
Profit |
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110 |
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Net
Profit |
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190 |
166 |
34 |
28 |
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Total
Assets |
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1,358 |
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Current
Assets |
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1,143 |
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Current
Liabs |
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621 |
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Net
Worth |
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338 |
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Capital,
Paid-Up |
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68 |
68 |
68 |
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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 |
25.73 |
5.26 |
9.76 |
20.72 |
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Current Ratio |
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.. |
184.06 |
.. |
.. |
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N.Worth Ratio |
.. |
24.89 |
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.. |
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R.Profit/Sales |
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3.22 |
.. |
.. |
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N.Profit/Sales |
4.42 |
4.85 |
1.05 |
0.95 |
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Return On Equity |
.. |
49.11 |
.. |
.. |
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Notes: Forecast (or estimated) figures for the 31/07/2008
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.43.12 |
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UK Pound |
1 |
Rs.85.08 |
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Euro |
1 |
Rs.67.41 |
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%)