MIRA INFORM REPORT

 

 

Report Date :

26.07.2011

 

IDENTIFICATION DETAILS

 

Name :

WORLD FOODS CO LTD

 

 

Registered Office :

8-3 Kiribatake Kanagawaku Yokohama 221-0832

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2010

 

 

Year of Establishment :

April 1976

 

 

Com. Reg. No.:

(Yokohama-Kanagawaku) 006988

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of confectionery, foodstuff

 

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 15.3 Million

Status :

Moderate

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 – 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 & address

 

WORLD FOODS CO LTD

REGD NAME:    World Foods KK

MAIN OFFICE:  8-3 Kiribatake Kanagawaku Yokohama 221-0832 JAPAN

                        Tel: 045-328-3261     Fax: 045-328-3262

 

URL:                 N/A

 

 

ACTIVITIES

 

Import, wholesale of confectionery, foodstuff

 

BRANCHES   

 

Nil

 

 

OFFICER(S)  

 

HISAO UCHIBAYASHI, PRES

                       

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 890 M

PAYMENTS                  REGULAR         CAPITAL           Yen 10 M

TREND             SLOW              WORTH            Yen 249 M

STARTED                     1976                 EMPLOYES      9

 

 

COMMENT    

 

IMPORTER OF CONFECTIONERY

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS BUT DOUBTFUL FOR CREDIT ENGAGEMENTS: CD$300,000.00.

 

MAX CREDIT LIMIT: YEN 15.3 MILLION, 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS

 

The subject company was established by father of Hisao Uchibayashi for importing confectionery from Europe.  Hisao assumed the pres post in Mar 2004.  This is a family-based trading firm for importing confectionery and other foodstuffs.  Clients include department stores, coffee shops, other.

 

 

FINANCIAL INFORMATION

 

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

 

The sales volume for Mar/2010 fiscal term amounted to Yen 890 million, a similar amount in the previous term.  The net profit was posted at Yen 18 million, compared with Yen 20 million a year ago.

 

For the term that ended Mar 2011 the net profit was projected at Yen 16 million, on a 2% fall in turnover, to Yen 870 million.  Consumer spending is sluggish.  High hurt the sales & profits in Yen terms.  Final results are yet to be released.  .

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  The proposed amount, however, is considered TOO HIGH from the recent financial status.  Max credit limit is estimated at Yen 15.3 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Apr 1976

Regd No.:         (Yokohama-Kanagawaku) 006988

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         80,000 shares

Issued:                20,000 shares

Sum:                   Yen 10 million

Major shareholders (%): Hisao Uchibayashi (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

 

Activities: Imports and wholesales confectionery (candies, chocolates, cookies, other) & foods (--100%).

 

Clients: [Department stores, coffee shops] Jupiter Coffee (45%), Tokyo Department Stores, Keikyu Department Store, Shizuoka World Foods, King Store, Heiwado, other

No. of accounts: 100

Domestic areas of activities: Centered in greater-Tokyo

Suppliers: [Mfrs, wholesalers] Meiji Seika Pharma, Ryoka Japan, Suzusho Ltd, Nippon Coffee Trading, Mitsubishi Corp, Kokubu Ltd, Wing Ace, Food Fashion, other

 

Payment record: Regular

 

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

 

Bank References:

SMBC (Oji)

Mizuho Bank (Yokohama-Chuo)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2011

31/03/2010

31/03/2009

31/03/2008

Annual Sales

　

870

890

890

891

Recur. Profit

　

　

　

　

　

Net Profit

　

16

18

20

20

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

249

231

217

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

-2.25

0.00

-0.11

6.96

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

1.84

2.02

2.25

2.24

 

Notes: Financials are only partially disclosed.

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

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.42

UK Pound

1

Rs.72.49

Euro

1

Rs.63.86

 

 

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.