MIRA
INFORM REPORT
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Report Date : |
26.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
MARUGEN FPJ CO LTD |
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Registered Office : |
Marugen Inryo Kogyo Bldg, 4-7-8 Tachibana Sumidaku Tokyo 131-0043 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2007 |
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Date of Incorporation : |
February 1974 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Fruit Juice, Processed Fruits,
Chocolates |
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 19.2 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
Name & address
MARUGEN FPJ CO LTD
REGD NAME: Marugen FPJ KK
MAIN OFFICE: Marugen Inryo Kogyo Bldg, 4-7-8 Tachibana
Sumidaku Tokyo 131-0043 JAPAN
Tel:
03-3617-1731 Fax: 03-3617-1732
URL: http://www.marugen.com
E-Mail address: info@marugen.com
ACTIVITIES
Import, wholesale of fruit juice, processed fruits,
chocolates
BRANCHES
Nil
FACTORY
Utsunomiya (of the parent, Marugen Inryo Industry Co Ltd)
OFFICER(S)
TAKAAKI ABE, PRES
Hiroaki Abe, dir
Isao Abe, dir
Minoru Yamaguchi, dir
Katsuo Uchida, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,033 M
PAYMENTS REGULAR CAPITAL Yen 29 M
TREND STEADY WORTH Yen 227 M
STARTED 1974 EMPLOYES 10
COMMENT
TRADING FIRM SPECIALIZING IN FRUIT JUICE, PROCESSED FOODS, OWNED BY MARUGEN INRYO INDUSTRY CO LTD. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 19.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a trading division separated from Marugen Inryo Industry Co Ltd, mfr of fruit juices, processed fruits, at the caption address. Takaaki Abe is concurrently pres at the parent. Business originated in Oct/1973 when JV agreement was made with the parent and Food Producers International and incorporated in Feb/1974 as Food Producers Japan Ltd. In Jun/1992 the parent bought the JV interest & production license from FPI, and newly signed distributor agreement. In May/1997 FPI and International Div of the parent were unified into a new company named Marugen FPJ Co Ltd. This is virtually an international trading division of the parent for import and wholesale of fruit juices, soda drinks, processed fruits, coffee, other. 70% of the imported goods are shipped to the parent.
FINANCIAL INFORMATION
The sales volume for Apr/2007 fiscal term amounted to Yen 1,033 million, a 19% up from Yen 867 million in the previous term. Imports increased to normal levels, as compared with the previous term when inventory adjustment was made to decrease imports. The net profit was posted at Yen 12 million, compared with Yen 9 million a year ago.
For the term that ended Apr 2008 the net profit was projected and believed posted at Yen 12 million, on a 6% rise in turnover, to Yen 1,100 million. Official announcement has not been made yet, but outside sources agree that these figures have been resulted.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 19.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1974
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 232,000 shares
Issued: 58,000 shares
Sum: Yen 29 million
Major shareholders (%)
Marugen Inryo Industry Co Ltd*(100)
* Mfr of fruit juices, soda drinks, processed fruits, at the caption address, founded 1947, capital Yen 30 million, sales Yen 3,400 million, net profit Yen 37 million, employees 120, pres Takaaki Abe, concurrently
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales: fruit juices (orange juice, orange squash, other fruits juices, diluted fruit squash, fruits syrup; soda drinks (cider, carbonated beverage); fruits toppings, fruits for confectionery making, fruits jelly, water ice, aseptic fruit juices (orange, grapefruits); aseptic liquid coffee; liquefied chocolate (drink, drink base, syrup), cocoa, cheese, beverage dispensers, war/server, blender, other (--100%).
Clients
[Food mfrs, wholesalers] Marugen Inryo Industry (70%), Sojitz Corp, AFC, Itochu Corp, Toyota Tsusho Corp, Ito En Ltd, Sakamoto Kohryo, Toyotama Koryo, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Imports from: Citrus Elite of Florida Inc, ADM Cocoa BV, ConAgra Grocery Products Companies, Food Producers International, Industras Citricolas de Montermorelos, Sabroso Company, Milne Fruits Products, Noon International Inc, Norfrys AB, Ocean Spray Cranberries Inc, Polarica Inc, Gat Foods, Total Ultimate Foods Inc, Vita-Mix Corporation, Marsman Drysdale Foods Corp, other.
Domestically supplied from Sojitz, other.
Payment record: Regular
Location
Business area in Tokyo. Office premises at the caption address are owned by the parent, Marugen Inryo Industry Co Ltd, and maintained satisfactorily.
Bank References
Mizuho Bank (Hirai)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/04/2008 |
30/04/2007 |
30/04/2006 |
30/04/2005 |
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Annual
Sales |
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1,100 |
1,033 |
867 |
1,072 |
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Recur.
Profit |
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Net
Profit |
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13 |
12 |
9 |
41 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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227 |
215 |
206 |
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Capital,
Paid-Up |
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29 |
29 |
29 |
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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 |
6.49 |
19.15 |
-19.12 |
15.64 |
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Current Ratio |
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.. |
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.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
1.18 |
1.16 |
1.04 |
3.82 |
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Notes: Forecast (or estimated) figures for the 30/04/2008
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.46.43 |
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UK Pound |
1 |
Rs.85.38 |
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Euro |
1 |
Rs.67.95 |
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%)