MIRA INFORM REPORT

 

 

Report Date :

25.10.2011

 

IDENTIFICATION DETAILS

 

Name :

IMANAKA LTD

 

 

Registered Office :

Doshomachi Bldg, 1-4-8 Doshomachi Chuoku Osaka 541-0045

 

 

Country :

Japan

 

 

Financials (as on) :

30.09.2010

 

 

Date of Incorporation :

March 1948

 

 

Com. Reg. No.:

(Osaka-Chuoku) 074763

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of confectionary materials, dairy foods, livestock products, timber & housing equipment, industrial chemicals, electronic parts

 

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 720.2 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 – September 30, 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 and address

 

IMANAKA LTD

REGD NAME:    Imanaka KK

MAIN OFFICE:  Doshomachi Bldg, 1-4-8 Doshomachi Chuoku Osaka 541-0045 JAPAN

                        Tel: 06-6228-5821     Fax: 06-6228-5818

 

URL:                 http://www.imanaka.co.jp/

E-Mail address: osaka@imanaka.co.jp; tokyo@imanaka.co.jp/

 

 

ACTIVITIES

 

Import, wholesale of confectionary materials, dairy foods, livestock products, timber & housing equipment, industrial chemicals, electronic parts

 

BRANCHES

 

Tokyo, Nagoya; Singapore, Australia, Shanghai, Thailand, New Zealand

 

 

OFFICER(S)  

 

SHUNPEI IMANAKA, PRES                   Kazuhiro Ito, dir

Ryohei Imanaka, dir                               Yukiyoshi Terao, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        GOOD                          A/SALES          Yen 14,871 M

PAYMENTS      REGULAR                     CAPITAL           Yen 100 M

TREND             SLOW                          WORTH            Yen 9,416 M

STARTED         1948                             EMPLOYES      64

 

 

COMMENT    

 

IMPORTER AND WHOLESALER SPECIALIZING IN FOODSTUFFS, INDUSTRIAL CHEMICALS, HOUSING EQUIPMENT, ETC.  FINANCIAL SITUATION CONSIDERED GOOD AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 720.2 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established originally in 1885 by Senjiro Imanaka as a pharmacy of Chinese/Japanese medicines and has been succeeded by his descendants.  This is a trading house for import and wholesale of confectionery & foodstuffs materials as mainstay items.  Also handles timber and housing equipment, synthetic resins, electronic parts, others.  Goods are imported from Australia, New Zealand, Netherlands, USA, France, Germany, and recently from China and other S/E Asian countries.  In 1994 opened Singapore Office; in 2002 established a JV, Australian Dairy Blends Pty Ltd; in 2003 opened China (Shanghai) office.  Aggressively expanding into overseas markets. 

 

 

fINANCIAL INFORMATION

 

The sales volume for Sept/2010 fiscal term amounted to Yen 14,871 million, a 10% down from Yen 16,597 million in the previous term.  As affected by the global economic downturn, particularly in the first of the term.  Consumer spending was sluggish.  The net profit was posted at Yen 338 million, compared with Yen 413 million net profit a year ago

 

For the term just ended Sept 2011 the net profit was projected at Yen 340 million, on a 4% rise in turnover, to Yen 15,500 million.  Final results are yet to be released.

 

The financial situation is considered GOOD to EXCELLENT and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 720.2 million, on normal terms.

 

 

REGISTRATION

 

Date Registered:  Mar 1948

Regd No.:         (Osaka-Chuoku) 074763

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800,000 shares

Issued:                200,000 shares

Sum:                   Yen 100 million

 

Major shareholders (%): Shumpei Imanaka (7.7), Sompo Japan Ins (6.9), Yasuko Imanaka (6.3), Hitachi Chemical (6), Imanaka Fudosan (5.3)

No. of shareholders: 81

 

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

 

OPERATION

 

Activities: Imports and wholesales foods, dairy products: whole milk powder, skim milk powder, butter, cheese. whey cheese, cream cheese, toffee Base, casein, casein ate, lactose, lacto albumin, ice cream, food additives; Eggs: egg white powder, egg yolk powder, dried egg powder, frozen whole egg, frozen yolk, frozen egg white, sugared egg yolk; Oils and fats: shortening, butter oil, edible fats; Meats: meats & edible meats, plasma powder, hemoglobin, collagen powder; Confectioneries: chocolate preparation, cake mix, butter oil, edible fats, others; Pet foods; Agricultural products: cacao powder, cacao butter, sugar preparation, Gum Arabic, corn, green peas, dried fruits,  strawberries, fruits juice, mashed potatoes, sweet potato,, gelatin, frozen vegetable, frozen fruits, grapefruits, orange, lemon, mustard seeds powder, canned fruits, peanuts butter, sugared bean paste, spaghetti livestock products, other confectionary and foodstuffs materials (--75%), processed lumber, wood products, fiberboards, other timber & housing equipment, synthetic resins, petrochemical products, raw materials, other chemical products & industrial chemicals (--16%), semiconductors, circuit boards, LC’s, other electronic parts, others (--5%).  (Import 80%).

 

Clients: [Confectioners, food processors, chemical industry] Fujiya, Ezaki Glico, Asahi Denka Kogyo, Sekisui Chemical, Dai Nippon Toryo, Meiji Milk Products, Meito Sangyo, Nestle Japan, other

No. of accounts: 1,000

Domestic areas of activities: Nationwide

Suppliers: [Mfrs] New Zealand Dairy Board (New Zealand), Australian Dairy Blends (JV Australia), Imanaka USA, Imanaka Singapore, other from Australia, New Zealand, USA, Netherlands, France, Germany, China, S/E Asian countries, etc.  Also Hitachi Chemical, Hitachi Metal, Asahi Denka Kogyo, Nippon Sheet Glass, and some other domestic suppliers.

 

Payment record: Regular

 

Location: Business area in Osaka.  Office premises at the caption address are owned (built in 1984 in commemoration of the 100th anniversary) and maintained satisfactorily.

 

Bank References:

            MUFG (Kawaramachi)

            Mizuho Bank (Semba)

            Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

30/09/2011

30/09/2010

30/09/2009

30/09/2008

Annual Sales

　

15,500

14,871

16,597

20,814

Recur. Profit

　

　

　

　

　

Net Profit

　

340

338

413

291

Total Assets

　

　

11,821

10,524

　

Current Assets

　

　

9,712

6,659

　

Current Liabs

　

　

2,186

1,247

　

Net Worth

　

　

9,416

9,200

　

Capital, Paid-Up

　

　

100

100

100

Div.Tot in million(¥)

　

　

24

51

32

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.23

-10.40

-20.26

13.96

    Current Ratio

 

..

444.28

534.00

..

    N.Worth Ratio

..

79.65

87.42

..

    R.Profit/Sales

 

..

..

..

..

    N.Profit/Sales

2.19

2.27

2.49

1.40

    Return On Equity

..

3.59

4.49

..

 Notes: Forecast (or estimated figures for he 30/09/201 fiscal term

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.87

UK Pound

1

Rs.79.73

Euro

1

Rs.69.53

 

 

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.