MIRA INFORM REPORT

 

 

Report Date :

01.10.2011

 

IDENTIFICATION DETAILS

 

Name :

TAISHIN CO LTD

 

 

Registered Office :

1-6-12 Kyobashi Chuoku Tokyo 104-0031

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

July 1948

 

 

Com. Reg. No.:

(Tokyo-Chuoku) 049024

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of grains, beans, other 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 166.5 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 – 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 and address

 

TAISHIN CO LTD

REGD NAME:    Taishin Jitsugyo KK

MAIN OFFICE:  1-6-12 Kyobashi Chuoku Tokyo 104-0031 JAPAN

                        Tel: 03-5250-3950     Fax: 03-5250-8020

                       

URL:                 http://www.taishin.gr.jp

E-Mail address: into@taishin.gr.jp; business@taishin.gr.jp

 

 

ACTIVITIES

 

Import, wholesale of grains, beans, other foodstuffs

 

BRANCHES   

 

Kobe

 

OVERSEAS   

 

Taishin Co (Hong Kong); Taishin Co (Thailand) (--subsidiaries)

 

 

OFFICERS

 

Yao-Ting Huan, ch

JAMES BUNSEI KO*, PRES

*.. “KO” is Japanese name, correctly spelled as “Huan” in Chinese.

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 5,460 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 88 M

TREND             STEADY                       WORTH            Yen 1,857 M

STARTED                     1948                             EMPLOYES      23

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN FOODSTUFFS.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY

BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 166.5 MILLION, 30 DAYS NORMAL TERMS.  .

 

 

HIGHLIGHTS

           

The subject company was established originally in 1931 in Kobe by Wan-Chu Huang, Chinese businessman, for importing panama hats from Taiwan, on his account.  Incorporated in 1948, he took the pres office and started importing beans & other agricultural products from mainland China.  James Bunsei Ko (or Huan) took the pres office in 2001, when the firm moved its headquarters to the caption address, Tokyo.  This is a trading firm specializing in importing grains, beans, dried fruits, nuts, proc-essed foods, bottled-canned foods, confectionery, etc.

 

FINANCIAL INFORMATION 

           

Financials are only partially disclosed.

 

The sales volume for Mar/2011 fiscal term amounted to Yen 5,460 million, an 8% up from Yen 5,053 million in the previous term.  The net profit was posted at Yen 9 million, compared with Yen 12 million a year ago.

 

For the current term ending Mar 2012 the net profit is projected at Yen 10 million, on a 4% rise in turnover, to Yen 5,700 million.

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 166.5 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:  Jul 1948

Regd No.:             (Tokyo-Chuoku) 049024

Legal Status:       Limited Company (Kabushiki Kaisha)

Authorized:          400,000 shares

Issued:                 176,000 shares

Sum:                    Yen 88 million

Major shareholders (%): Huan families (--100)

No. of shareholders:  7

 

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

 

 

OPERATION

 

Activities: Imports and wholesales grains, beans, dried fruits, nuts, bottled bamboo shoots, wild                   vegetables, ready-to-serve food, jarred/canned confectionery, confectionery ingredients, hat                                     materials, clothing, sundry goods, etc (--100%).

 

(Handling items):

Beans & Grains: Small red beans, large black colored kidney beans, large white kidney beans, cow peas, white kidney beans, broad beans, etc, from China, USA, UK, Canada, Australia, New   Zealand, Central America, S/E Asia;

Bean Sprouts: Chinese selected green beans, Myanmar black matpe, Thailand black matpe,                                 Chinese yellow soybeans, US soybeans, etc, from China, Myanmar, Thailand, USA;

Dried Fruits, Nuts: Raisin, prune, dehydrated tropical fruits, dried wild blueberry, vacuum fried                     vegetable chips (bitter melon, okura, garlic, etc), dried fig, almond, walnuts, pine nuts, hazel                             nuts, etc, from USA, Iran, Turkey, China, Taiwan, Thailand, Chile, Vietnam, etc;

Wild Grass, Various Pickles, Bamboo Shoots: Salted bracken, dried Osmond, salted                             taranome, salted shimeji mushroom, salted lotus root, dried mountain jerry vegetables, dried                              kidney beans, boiled bamboo shoots, etc, form China & Russia;

Cooked & Frozen Food, Bottled/Canned Food, Confectionery Materials: Small red bean                                 paste, fresh chestnuts, peeled chestnuts, frozen yuba, brown sugar, soybeans (yellow, black,                                 green, etc), from China, Bolivia & Thailand;

Black Tea: “BOH” brand teas from Thailand;

Miscellaneous Goods: Natural rubber, rubber compound, garments, footwear, etc, from

Thailand, Indonesia, Vietnam, Sri Lanka, China.

 

 

Clients: [Food processors, food stores] Narita Shokuhin Kogyo, Maniha Shokuhin,                                                 Miyashita Shokuhin, Miyuki Shokuhin, other.

No. of accounts: 300

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Imports from China, Hong Kong, Taiwan, USA, UK, Thailand,                                   Myanmar, Europe, S/E Asia, other, as listed above.

 

Payment record: Regular

 

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

 

Bank References:

            Resona Bank (Tokyo-Chuo)

            SMBC (Tokyo-Chuo)

            Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

5,700

5,460

5,053

4,900

Recur. Profit

　

　

　

　

　

Net Profit

　

10

9

12

12

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

1,857

18,448

1,836

Capital, Paid-Up

　

　

88

88

88

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.40

8.05

3.12

-2.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.18

0.16

0.24

0.24

 

Note: Financials are only partially disclosed.

Forecast (or estimated) for the 31/03/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.92

UK Pound

1

Rs.76.52

Euro

1

Rs.66.64

 

 

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.