MIRA INFORM REPORT

 

 

Report Date :           

22.08.2011

 

IDENTIFICATION DETAILS

 

Name :

FARMERS MARKET COMPANY

 

 

Registered Office :

21 Kawakami Sharicho Sharigun Hokkaido 099-4143

 

 

Country :

Japan

 

 

Financials (as on) :

30.09.2010

 

 

Date of Incorporation :

October 1989

 

 

Com. Reg. No.:

(Hokkaido-Sharigun) 004905

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Import, wholesale of dairy machinery/equipment, agricultural equipment

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 1.8 Million

Status :

Small Company 

Payment Behaviour :

Usually Correct

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

FARMERS MARKET COMPANY

 

 

REGD NAME 

 

YK Farmers Market

 

 

MAIN OFFICE

 

21 Kawakami Sharicho Sharigun Hokkaido 099-4143 JAPAN

                        Tel: 0152-23-1719     Fax: 0152-23-5256

 

URL:                 www.3.ocn.co.jp  

E-mail:             farmers@cocoa.ocn.ne.jp 

 

 

ACTIVITIES

 

Import, wholesale of dairy machinery/equipment, agricultural equipment

 

 

BRANCHES   

 

Nil

 

 

OFFICER(S)  

 

TETSUO KUDOH, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                 A/SALES          Yen 101 M

PAYMENTS      REGULAR         CAPITAL           Yen 5 M

TREND             SLOW              WORTH            Yen 151 M

STARTED                     1989                 EMPLOYES      2

 

COMMENT

 

TRADING FIRM SPECIALIZING IN AGRICULTURAL MACHINERY. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

MAX CREDIT LIMIT: YEN 1.8 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established by Tetsuo Kudoh in order to make most of his experience in the subject line of business.  This is a trading firm for importing and wholesaling dairy machinery/equipment, their parts & accessories, other.  Clients include dairy farmers, specialty traders, other, centering in Hokkaido.  Goods are also sold online.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed as is the case with family-based companies.

 

The sales volume for Sept/2010 fiscal term amounted to Yen 101 million, a 33% decline from Yen 150 million in the previous term, as affected substantially by the global economic downturn, particularly in the first half of the term.  High Yen eroded earnings & profits in Yen terms.  The net profit was posted at Yen 6 million, compared with Yen 10 million a year ago.  .

 

For the current term ending Sept 2011 the net profit is projected at Yen 7 million, on a 9% rise in turnover, to Yen 110 million.  The figures could well be revised following the North Japan Earthquake, damaging farming/dairy industries in the northern Japan area.  By areas, cows are being detained and prohibited for shipment for fear of suspected caesium affliction.

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 1.8 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Oct 1989

Regd No.:        (Hokkaido-Sharigun) 004905

Legal Status:     Private Limited Company (Yugen Kaisha)

Regd Capital:     Yen 5 million

Major shareholders (%): Tetsuo Kudoh (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

 

OPERATION

 

Activities: Imports and wholesales dairy machinery & equipment, their parts & accessories, agricultural machinery, other (--100%).

 

 

Clients: [Farmers, wholesalers] Dairy Farmers, MP Agro Co, Tanbaya Co, Zenrakuren (National Federation of Dairy Farmers), other

            No. of accounts: 300

            Domestic areas of activities: Centered in Hokkaido

 

Suppliers: [Mfrs, wholesalers] Biotec Industries Inc, SCR, North Brook Inc, Labuvette, other.

 

Payment record: Regular

 

Location: Business area in Shrugging, Hokkaido.  Office premises at the caption address are owned by T Kudoh as his private residence and maintained satisfactorily.

 

Bank References:

Hokkaido Bank (Shari)

North Pacific Bank (Shari)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

30/09/2011

30/09/2010

30/09/2009

30/09/2008

Annual Sales

　

110

101

150

151

Recur. Profit

　

　

　

　

　

Net Profit

　

7

6

10

10

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

151

145

135

Capital, Paid-Up

　

　

5

5

5

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

8.91

-32.67

-0.66

0.67

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

6.36

5.94

6.67

6.62

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 30/09/2011 fiscal term. 

 

 

 Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.61

UK Pound

1

Rs.75.32

Euro

1

Rs.65.68

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.