MIRA INFORM
REPORT
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Report Date : |
11.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SHIMIZU CO LTD |
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Registered Office : |
5-9-47 Minami-Okisu Tokushima 770-0874 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2010 |
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Date of Incorporation : |
July 1967 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale
of seafoods |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 36.9 Million |
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Status : |
Small Company |
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Payment
Behaviour : |
Regular |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Japan |
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
SHIMIZU CO LTD
REGD NAME
KK Shimizu
MAIN OFFICE
5-9-47
Minami-Okisu Tokushima 770-0874 JAPAN
Tel:
088-664-1740 Fax: 088-664-0698
*.. Correct address is Tokushima, and not Tokuyama
URL: N/A
ACTIVITIES
Import,
wholesale of seafoods
BRANCHES
Tokushima (2) (--refrigerated warehouses)
OFFICER(S)
YONEKO
SHIMIZU, PRES Shin’ichi Shimizu,
ch
Chikara
Hiroshima, v pres Kenji Shimizu,
s/mgn dir
Yoko
Ichihashi, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,008 M
PAYMENTS REGULAR CAPITAL Yen
10 M
TREND SLOW WORTH Yen
1,931 M
STARTED 1967 EMPLOYES 21
COMMENT
IMPORTER
AND WHOLESALER SPECIALIZING IN SEAFOODS
FINANCIAL SITUATION CONSIDERED FAIR TO GOOD AND GOOD FOR CREDIT ENGAGEMENTS: CD$390,000.00
MAX
CREDIT LIMIT: YEN 36.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Shin’ichi Shimizu in order to
make most of his experience in the subject line of business. Yoneko Shimizu is his wife, who took the pres
office in Jul 1998. Owned & operated
solely by the Shimizu family, the firm specializes in import of seafoods: dried
fish, seaweeds, salted fish, other.
Operates two refrigerated warehouses.
Goods are imported from China, Korea, Taiwan, Vietnam, and other S/E
Asian countries. Domestically supplied
from Prefectural Fishery Federations.
FINANCIAL INFORMATION
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Oct/2010 fiscal term amounted to Yen 2,008 million,
a 6% down from Yen 2,137 million in the previous term. Tuna catch was restricted and imports declined. Consumer spending was sluggish. The net profit was posted at Yen 69 million,
compared with Yen 99 million net profit a year ago.
For the current term ending Oct 2011 the net profit is projected at Yen
70 million, on a 5% rise in turnover, to Yen 2,100 million.
The financial situation is considered FAIR to GOOD and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 36.9 million, on 30 days normal terms. The proposed amount is considered well within
the firm’s financial capacities.
REGISTRATION
Date Registered: Jul 1967
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued:
200 shares
Sum: Yen 10
million
Major shareholders (%): Shin’ichi Shimizu (70), Kazuo
Shimizu (10), Yoneko Shimizu (10), Kikue Shimizu (10)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales seafoods: raw & frozen fish, dried fish, sea weeds, salted fish,
other processed fish (--100%)
Clients: Fish markets,
fish wholesalers, fishery shops, other
No. of accounts: 200
Domestic areas of
activities: Centered in Tokushima-Pref
Suppliers [Mfrs, fishery
federations] Tokushima-Pref Fishery Federation, Hyogo-Pref Fishery Federation,
Sanwa Bussan, other.
Imports from China, Korea, Taiwan, Vietnam, other
Payment record:
Regular
Location:
Business area in Tokushima. Office
premises at the caption address are owned by Shin’ichi Shimizu as his private
residence and maintained satisfactorily.
Bank References:
Awa
Bank (Ryogokubashi)
Mizuho
Bank (Tokushima)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
|
31/10/2011 |
31/10/2010 |
31/10/2009 |
31/10/2008 |
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Annual
Sales |
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2,100 |
2,008 |
2,137 |
2,351 |
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Recur.
Profit |
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Net
Profit |
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70 |
69 |
99 |
134 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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1,931 |
1,883 |
1,814 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
4.58 |
-6.04 |
-9.10 |
-8.70 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
3.33 |
3.44 |
4.63 |
5.70 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/10/2011 fiscal term
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
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UK Pound |
1 |
Rs.72.93 |
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Euro |
1 |
Rs.64.72 |
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 |
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NB |
New Business |
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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.