MIRA INFORM REPORT

 

 

Report Date :           

22.11.2011

 

IDENTIFICATION DETAILS

 

Name :

NIHON FARM CORPORATION

 

 

Registered Office :

Shimbashi Mizoguchi Bldg 3F, 4-4-3 Shimbashi Minatoku Tokyo 105-0004

 

 

Country :

Japan

 

 

Financials (as on) :

31.08.2011

 

 

Date of Incorporation :

January 2006

 

 

Com. Reg. No.:

(Tokyo-Minatoku) 060461  

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of fruits & vegetables

 

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 22.8 Million

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

NIHON FARM CORPORATION

 

 

REGD NAME

 

Nihon Farm KK

 

 

MAIN OFFICE

 

Shimbashi Mizoguchi Bldg 3F, 4-4-3 Shimbashi Minatoku Tokyo 105-0004, JAPAN

Tel: 03-5405-4077      Fax: 03-5405-4078

                                               

URL:                             http://www.nihon-farm.com

E-Mail address:            (thru the URL)

 

 

ACTIVITIES

 

Import, wholesale of fruits & vegetables

 

 

BRANCHES   

 

Kobe

 

 

OFFICERS

 

TOSHIYUKI IIZUMI, PRES                      Eiji Shimazu, dir

Takuro Inoue, dir                                    Shinsuke Mizuta, dir

Yoshitsugu Takashima, dir                     

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 1,260 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 20 M

TREND             STEADY                       WORTH            Yen 35 M

STARTED                     2006                             EMPLOYES      8

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN FRUITS & VEGETABLES.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 22.8 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Toshiyuki Iizumi in order to make most of his experience in the subject line of business.  This is a trading firm specializing in import and wholesale of fruits & vegetables.  Goods are imported from USA, Chile, Australia, other.  Clients include hotels, restaurants, retail shops, centering in the greater-Tokyo.

 

 

FINANCIAL INFORMATION

 

Financial are only partially disclosed.

 

The sales volume for Aug/2010 fiscal term amounted to Yen 1,260 million, a huge 334% up from Yen 290 million in the previous term.  This is attributed to the amalgamation of group firms.  And the firm switched to direct imports from those through general trading companies.  Sales leaped.  The net profit was posted at Yen 8 million, compared with Yen 1 million net losses a year ago.

 

For the term that ended Aug 2011 the net profit was projected at Yen 10 million, on a 3% rise in turnover, to Yen 1,300 million.  Final results are yet to be released.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 22.8 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Jan 2006

Regd. No.:         (Tokyo-Minatoku) 060461

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         1,600 shares

Issued:                400 shares

Sum:                   Yen 20 million

 

Major shareholders (%): Toshiyuki Iizumi, Eiji Shimizu (--100)

 

No. of shareholders: 2

 

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

 

 

OPERATION

           

Activities: Imports and wholesales fruits & vegetables (--100%).

 

(Fruits): blueberry, strawberry, raspberry, blackberry, baby kiwi, mango, cherry, fig, other;

(Vegetables): green asparagus, white asparagus, okura, pumpkin, bud of garlic, other.

 

Clients: [Mfrs, wholesalers] Max Valu Tokai, Nippon Access Inc, Tokyo Seika Co, Tokyo Ebara Seika Co, Kita Tokyo Shoji, other

            No. of accounts: 200

            Domestic areas of activities: Centered in greater-Tokyo

 

Suppliers: [Mfrs, wholesalers] Imports from USA, Chine, Australia, other

 

Payment record: Regular

 

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

 

Bank References:

·         Mizuho Bank (Shimbashi-Chuo)

·         MUFG (Shimbashi)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/08/2012

31/08/2011

31/08/2010

31/08/2009

Annual Sales

　

1,300

1,260

290

243

Recur. Profit

　

　

　

　

　

Net Profit

　

10

8

-1

3

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

35

27

26

Capital, Paid-Up

　

　

20

20

20

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.17

334.48

19.34

15.71

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.77

0.63

-0.34

1.23

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/08/2011 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.72

UK Pound

1

Rs.81.42

Euro

1

Rs.68.89

 

 

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.