MIRA INFORM REPORT

 

 

Report Date :           

13.06.2011

 

IDENTIFICATION DETAILS

 

Name :

TOKITA SEED CO LTD

 

 

Registered Office :

1069 Nakagawa Minumaku Saitama 337-0043

 

 

Country :

Japan

 

 

Financials (as on) :

30.04.2010

 

 

Date of Incorporation :

November 1947

 

 

Com. Reg. No.:

(Saitama-Minumaku) 005918

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Mfg of seeds & seedlings, vegetables, gardening supplies & tools

 

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 79.1 Million

Status :

Satisfactory

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

 

TOKITA SEED CO LTD

 

 

REGD NAME

 

Tokita Shubyo KK

 

 

MAIN OFFICE

 

1069 Nakagawa Minumaku Saitama 337-0043 JAPAN

Tel: 048-683-3434     Fax: 048-683-5042

URL:                 www.tokitaseed.co.jp

E-mail:             tokita@tokitaseed.co.jp  

 

 

ACTIVITIES  

 

Mfg of seeds & seedlings, vegetables, gardening supplies & tools

 

 

BRANCHES   

 

Ohtonecho (Saitama) (Farm)

 

 

OVERSEAS   

 

China, India, Italy

 

 

OFFICER(S)  

 

IWAO TOKITA, PRES                Tsutomu Tokita, ch

Yasuharu Motozawa, s/mgn dir   Hiroshi Yoshida, dir

Masanori Takaya, dir                 

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 4,587 M

PAYMENTS                  REGULAR         CAPITAL           Yen 148 M

TREND             STEADY           WORTH            Yen 1,055 M

STARTED                     1947                 EMPLOYES      85

 

 

COMMENT    

 

MFR OF SEED & SEEDLINGS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

MAX CREDIT LIMIT: YEN 79.1 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Tsutomu Tokita in order to make most of his experience in the subject line of business.  Iwao is his son.  This is a specialized mfr of seeds & seedlings, vegetables, gardening supplies & tools, other.  Operates a farmland in Saitama-Pref.  Goods are also imported and exported.  Three overseas offices function as purchasing/selling business.  Particularly stressing in sales & production in China.

 

 

FINANCIAL INFORMATION

 

The sales volume for Apr/2010 fiscal term amounted to Yen 4,587 million, a 4% up from Yen 4,395 million in the previous term.  Exports to China & India grew and were robust.  The recurring profit was posted at Yen 126 million and the net profit at Yen 56 million, respectively, compared with Yen 99 million recurring profit and Yen 116 million net profit, respectively, a year ago.   .

 

For the current term ending Apr 2011 the recurring profit is projected at Yen 130 million and the net profit at Yen 58 million, respectively, on a 3% rise in turnover, to Yen 4,700 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 79.1 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:  Nov 1947

Regd No.:             (Saitama-Minumaku) 005918

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　1 million shares

Issued: 　            296,000 shares

Sum:                　    Yen 148 million

Major shareholders (%): Tsutomu Tokita (87)

No. of shareholders: 45

 

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

 

 

OPERATION

 

Activities: Manufactures seeds & seedlings, vegetables, gardening supplies & tools, other (--100%)

Operates a farmland in Saitama-Pref.

 

Clients: Agricultural cooperatives, Zen-Noh, flower/vegetable markets, other

            Exports to: USA, China, Taiwan, India, other S/E Asian countries, Europe, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Takii & Co, Sakata Seed Co, Marubeni Corp, Nippon Beet Sugar Mfg, Okamoto Co, Achilles, other

 

Payment record: Regular

 

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

 

Bank References:

MUFG (Omiya-Ekimae)

Saitama Resona Bank (Omiya)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

30/04/2011

30/04/2010

30/04/2009

30/04/2008

Annual Sales

　

4,700

4,587

4,395

4,113

Recur. Profit

　

130

126

99

　

Net Profit

　

58

56

116

63

Total Assets

　

　

3,768

3,631

3,332

Current Assets

　

　

2,671

2,610

　

Current Liabs

　

　

1,613

1,573

　

Net Worth

　

　

1,055

1,003

891

Capital, Paid-Up

　

　

148

148

148

Div.P.Share(¥)

　

　

20.00

20.00

20.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.46

4.37

6.86

6.14

    Current Ratio

 

..

165.59

165.92

..

    N.Worth Ratio

..

28.00

27.62

26.74

    R.Profit/Sales

 

2.77

2.75

2.25

..

    N.Profit/Sales

1.23

1.22

2.64

1.53

    Return On Equity

..

5.31

11.57

7.07

 

Notes: Forecast (or estimated) figures for the 30/04/2011 fiscal term. 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.72

UK Pound

1

Rs.72.93

Euro

1

Rs.64.72

 

 

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.