MIRA INFORM REPORT
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Report Date : |
07.04.2011 |
IDENTIFICATION DETAILS
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Name : |
ICELANDIC |
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Registered Office : |
Landic Toranomon Bldg 6F, 3-7-10 Toranomon Minatoku |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
July
1997 |
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Com. Reg. No.: |
(Tokyo-Minatoku) 033313 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale
of frozen fish from |
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 197.3 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
--- |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
ICELANDIC
REGD NAME
Icelandic
MAIN OFFICE
Landic Toranomon
Bldg 6F, 3-7-10 Toranomon Minatoku
Tel:
03-5472-0450 Fax: 03-5472-0451
URL: www.icelandic.is
E-mail: Yarai@icelandic.is
ACTIVITIES
Import,
wholesale of frozen fish from
BRANCHES
Nil
OFFICER(S)
YASUHARU
ARAI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 11,554 M
PAYMENTS REGULAR CAPITAL Yen
50 M
TREND SLOW WORTH Yen
760 M
STARTED 1997 EMPLOYES 8
COMMENT
IMPORTER
OF FISH FROM
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 197.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Icelandic Group as its import
agent in
FINANCIAL INFORMATION
Financials are disclosed in digested forms only.
The sales volume for Dec 2010 fiscal term amounted to Yen 11,554 million,
an 11% up from Yen 10,451 million in the previous term. Hike in fish prices contributed. The recurring profit was posted at Yen 2
million and the net profit at Yen 1 million, respectively, compared with Yen 4
million recurring profit and Yen 2 million net profit, respectively, a year
ago. .
For the current term ending Dec 2011 the recurring profit is projected
at Yen 3 million and the net profit at Yen 2 million, respectively, on a 4%
rise in turnover, to Yen 12,000 million.
Fish roes, which are liked by the Japanese particularly as sushi food,
are increasing, says the firm.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 197.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jul 1997
Regd No.: (Tokyo-Minatoku) 033313
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,000 shares
Issued: 1,000 shares
Sum: Yen 50
million
Major shareholders (%): Icelandic
Group (100)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales frozen fish: redfish, great halibut and other bottom fish, capelin
and other pelagic fish, various roes and flatfish, other, all from
Clients: [Traders,
wholesalers] Hanwa Corp, Nomura Trading, Toyotsu Foods, Kanematsu Corp, Maruha
Nichiro Holdings Inc, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Fishing group,
wholesalers] Icelandick Service, Marinus Sea Foods, Brimm, Massese Fisheries,
Istok AB, Kyokuyo Co, other.
Payment record: Regular
Location: Business area in
Bank References:
SMBC
(Hibiya)
Resona
Bank (Akasaka)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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12,000 |
11,554 |
10,451 |
13,166 |
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Recur.
Profit |
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3 |
2 |
4 |
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Net
Profit |
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2 |
1 |
2 |
24 |
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Total
Assets |
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2,697 |
2,421 |
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Current
Assets |
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2,669 |
2,400 |
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Current
Liabs |
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1,837 |
1,562 |
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Net
Worth |
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760 |
759 |
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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 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.86 |
10.55 |
-20.62 |
-6.42 |
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Current Ratio |
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.. |
145.29 |
153.65 |
.. |
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N.Worth Ratio |
.. |
28.18 |
31.35 |
.. |
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R.Profit/Sales |
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0.03 |
0.02 |
0.04 |
.. |
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N.Profit/Sales |
0.02 |
0.01 |
0.02 |
0.18 |
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Return On Equity |
.. |
0.13 |
0.26 |
.. |
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Notes:
Financials are disclosed in digested forms only.
Forecast
(or estimated) figures for the 31/12/2011 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.44.22 |
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1 |
Rs.72.25 |
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Euro |
1 |
Rs.63.09 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.