MIRA INFORM REPORT

 

 

Report Date :

08.01.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

NISHIMOTO CO LTD

 

 

Registered Office :

Hamamatsucho Square Bldg, 1-30-5 Hamamatsucho Minatoku Tokyo 106-0013

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

September 1947

 

 

Com. Reg. No.:

(Kobe-Chuoku) 090357

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of foodstuffs

 

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 727.3 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

 

NISHIMOTO CO LTD

 

 

REGD NAME 

 

Nishimoto KK

 

 

MAIN OFFICE

 

Hamamatsucho Square Bldg, 1-30-5 Hamamatsucho Minatoku Tokyo 106-0013 JAPAN

Tel: 03-3438-5651     Fax: 03-3438-5675

 

* Registered at: 4-1-38 Isobedori Hyogoku Kobe

 

URL:                             http://www.ntcltd.com/

E-Mail address:                        ntcinfo@ntcltd.com

 

 

ACTIVITIES  

 

Import, export, wholesale of foodstuffs

 

 

BRANCHES   

 

Kobe

 

 

OVERSEAS   

 

USA (14), Canada (3), Shanghai

 

 

FACTORIES

 

(subcontracted)

 

 

OFFICER(S)  

 

YOSHIRO SUSAKI, PRES         Satoshi Omori, mgn dir  

Atsuhiko Kimura, dir                   Shigenobu Tajima, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 23,016 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 100 M

TREND             SLOW                          WORTH            Yen 5,101 M

STARTED                     1947                             EMPLOYES      128

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN FOODSTUFFS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 727.3 MILLION, 30 DAYS NORMAL TERMS

           

 

HIGHLIGHTS

           

The subject company was established originally in 1918 by a certain Nishimoto, on his account, for selling foodstuffs.  Incorporated in 1947 the firm has been succeeded by the present executives.  This is a trading firm specializing in foodstuffs.  Imports from Asia, USA, Europe, etc.  Exports fish products to over 5,000 sushi bars in USA, Canada, other.  In Oct 2010 became the holding company of Nishimoto group and changed the name as captioned from Nishimoto Trading Co Ltd.

           

FINANCIAL INFORMATION

 

The sales volume for Mar/2010 fiscal term amounted to Yen 23,016 million, a 9% down from Yen 25,427 in the previous term, affected by the global economic downturn.   Exports were hurt by the strong Yen, reducing revenues in Yen terms.  The recurring profit was posted at Yen 416 million and the net profit at Yen 437 million, respectively, compared with Yen 559 million recurring profit and Yen 331 million net profit, respectively, a year ago.

 

For the current term ending Mar 2011 the recurring profit is projected at Yen 480 million and the net profit at Yen 440 million, respectively, on a 6% rise in turnover, to Yen 24,500 million.  Business is seen steadily expanding.

           

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 727.3 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:          Sept 1947

Regd No.:                     (Kobe-Chuoku) 090357

Legal Status:               Limited Company (Kabushiki Kaisha)

Authorized:                  800,000 shares

Issued:                         200,000 shares

Sum:                            Yen 100 million

 

Major shareholders (%): Tatsumi Sangyo*(94), Yoshio Susaki (3), Company’s Treasury Stock (3)    

 

* Holding company owned by Susaki family

 

No. of shareholders: 3

 

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

 

 

OPERATION

 

Activities: Imports, exports and wholesales foodstuffs (--100%).

 

(Handling items):

Sake, wine, rice, flour beans, canned foods, boiled foods, vinegars, oils, miso, seasonings, seaweed, kelp, dried seafoods, fishes, vegetables (dried, chilled & frozen), seasoned toppings, noodles, sauces, fruit juices, ice pops, pickled products, tofu (bean curd), fish cakes, wrapper skins, frozen fish & fish roes, frozen processed foods, sushi materials, other (--100%).

 

Exports fish/fishery products to over 5,000 sushi bars in USA, Canada, Europe, Asia, other.

           

Clients: [Food stores, wholesalers] Nishimoto Trading of America, Tazaki Foods, Tokyo Mart Pty Ltd, Meidi-Ya, Watami Food Service, Camel Coffee, other.

            No. of accounts: 800

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Nissin Foods, Ezaki Glico, Daisui, Katokichi, Ocean Marine Foods, Nippon Suisan, other.

 

Payment record: Regular

 

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

 

Bank References:

·         SMBC (Shimbashi)

·         MUFG (Shimbashi-Ekimae)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2011

31/03/2010

31/03/2009

31/03/2008

Annual Sales

　

24,500

23,016

25,427

27,002

Recur. Profit

　

480

416

559

653

Net Profit

　

440

437

331

358

Total Assets

　

　

10,024

10,702

11,560

Current Assets

　

　

6,553

7,407

8,454

Current Liabs

　

　

　

　

5,615

Net Worth

　

　

5,101

4,662

4,342

Capital, Paid-Up

　

　

100

100

100

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

6.45

-9.48

-5.83

12.06

    Current Ratio

 

..

-          - -

- - -

150.56

    N.Worth Ratio

..

50.89

43.56

37.56

    R.Profit/Sales

 

1.96

1.81

2.20

2.42

    N.Profit/Sales

1.80

1.90

1.30

1.33

    Return On Equity

..

8.57

7.10

8.25

 

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

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.70.38

Euro

1

Rs.58.93

 

 

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.