MIRA INFORM REPORT

 

 

Report Date :

25.02.2011

 

IDENTIFICATION DETAILS

 

Name :

MEIRAKU CORPORATION CO LTD

 

 

Registered Office :

310 Nakasunacho Tempakuku Nagoya 468-0065

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

June 1996

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale, import of dairy products materials & supplies

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

Yen 551.4 Million

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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

 

MEIRAKU CORPORATION CO LTD

 

 

REGD NAME

 

KK Meiraku Corporation

 

 

MAIN OFFICE

 

310 Nakasunacho Tempakuku Nagoya 468-0065 JAPAN

Tel: 52-831-6688     Fax: 052-834-6714

 

URL:                             www.sujahta.co.jp/

E-mail address:            info@sujahta.co.jp

 

 

ACTIVITIES

 

Wholesale, import of dairy products materials & supplies

 

 

BRANCHES   

 

Nil

 

 

OFFICER(S)  

 

TAKAYOSHI HIBI, PRES            Haruo Hibi, dir

Tokie Omori, dir                         Toshiharu Hibi, dir

Akio Hibi, dir                              Haruo Washimi, dir                   

                                         

Yen Amount:     In million Yen, otherwise stated.

 

 

SUMMARY

 

FINANCES            FAIR                     A/SALES    Yen 31,700 M

PAYAMENTS        REGULAR             CAPITAL    Yen 10 M

TREND                 STEADY               WORTH     Yen 1,211 M

STARTED             1996                      EMPLOYS   34

 

 

COMMENT

 

WHOLESALER SPECIALIZING IN DAIRY FOODS MATERIALS, AFFILIATED WITH NGOYA SEIRAKU KK. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

MAX CREDIT LIMIT: YEN 551.4 MILLION, 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS

 

The subject company was established as a purchasing division by Nagoya Seiraku KK, mfr of dairy foods/retort-packed foods, etc, Nagoya.  The subject specializes in purchasing and wholesaling dairy products materials for supply to 7 group makers in the line of mfg dairy products and other foodstuffs.  Goods are imported mostly through general trading houses.  Goods are wholly shipped to group companies.

 

 

FINANCIAL INFORMATIOn

 

The sales volume for Mar/2010 fiscal term amounted to Yen 31,700 million, a 1% up from Yen 31,500 million in the previous term, thanks to the steady growth of the parent & group firms in each business line.  The net profit was posted at Yen 305 million, compared with Yen 300 million a year ago.

 

For the current term ending Mar 2011 the net profit is projected at Yen 300 million, on a 1% fall in turnover, to Yen 31,500 million.  Business is steady and on the rising trend, while the rising overhead costs will likely eat into profitability.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 551.4 million, on normal terms.

 

 

RESIGTRATION

 

Date Registered:          Jun 1996

Legal Status:               Limited Company (Kabushiki Kaisha)

Authorized:                  800 shares

Issued:                         200 shares

Sum:                            Yen 10 million

 

Major shareholders(%): Nagoya Seiraku*(40), Haruo Hibi (20), Shunji Hibi (20), Akio Hibi (10)

 

No. of shareholders: 7

 

*.. Mfr of dairy foods & other foodstuffs, Nagoya, and core of Meiraku group firms; capital Yen 100 million, sales turnover Yen 37,000 million, employees 1,150, pres Haruo Hibi

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Purchases and supplies dairy foods and other foodstuff materials to 7 group mfrs, headed by Nagoya Seiraku KK (--100%).

 

Clients: [Mfrs] Nagoya Seiraku, Tokyo Meiraku, Osaka Meiraku, Kyushu Meiraku, other 

Goods are also exported

No. of account. 10

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, farm coops, wholesalers] Hokuren Federation of Agricultural Coops, Zen-Noh, Gifu-Pref Federation of Dairy Farming, Mitsubishi Corp, Calpis-Ajinomoto, Nagase Corp, other.

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank Reference:

MUFG (Nagoya)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2011

31/03/2010

31/03/2009

31/03/2008

Annual Sales

　

31,500

31,700

31,500

31,000

Recur. Profit

　

　

　

　

　

Net Profit

　

300

305

300

298

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

1,211

1,001

791

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

-0.63

0.63

1.61

0.98

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.95

0.96

0.95

0.96

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for 31/03/2011 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.73.54

Euro

1

Rs.62.39

 

 

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

 

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.