MIRA INFORM REPORT
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Report Date : |
10.09.2011 |
IDENTIFICATION DETAILS
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Name : |
NOMURA TRADING CO LTD |
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Registered Office : |
1-7-3 Azuchimachi Chuoku Osaka 541-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
June 1976 |
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Com. Reg. No.: |
(Osaka-Chuoku) 074101 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale of livestock
products, farm & marine products, textiles |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 926.6 Million |
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Status : |
Satisfactory |
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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
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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
NOMURA TRADING CO LTD
REGD NAME
Nomura Boeki KK
MAIN OFFICE
Kamiyacho Central
Place, 4-3-13 Toranomon Minatoku Tokyo 105-0001 JAPAN
Tel:
03-3438-7600 Fax: 03-3438-7625
*.. Registered at: 1-7-3 Azuchimachi Chuoku Osaka 541-0052 JAPAN
URL: http://www.nomuratrading.co.jp/
E-Mail address: info@nomuratrading.co.jp
ACTIVITIES
Import, export, wholesale of
livestock products, farm & marine products, textiles
BRANCHES
Tokyo, Fukuoka
OVERSEAS
· (Branch Offices): Singapore, Frankfurt, Seattle, Taipei, Kaohsiung
(Rep
Offices): Sydney, Ho Chin Minh, Hanoi, Beijing, Dalian
(Affiliated):
Yangon, Medan, Rio Janeiro
(JV’s):
China (3), Hong Kong, Indonesia (5), Laos, Thailand (6), Vietnam (4)
OFFICER(S)
KATSUSHIGE MIYASHITA, PRES Hideo
Fujita, mgn dir
Shizuya Shimoji, dir Akira
Sumida, dir
Ryoji Yuasa, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 85,496 M
PAYMENTS REGULAR CAPITAL Yen 2,500 M
TREND SLOW WORTH Yen
3,769 M
STARTED 1976 EMPLOYES 229
COMMENT
TRADING HOUSE SPECIALIZING IN FOODSTUFFS, APPAREL, OTHERS, OWNED BY NOMURA TRADING HOLDINGS CO
LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 926.6 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1917 by Tokushichi
Nomura in order to make most of his experience in foreign trading, on his
account. This is a trading house
specializing in import, export and wholesale of foods, apparel, industrial
materials, other. In Apr 2002, due to
financial difficulties the firm transferred its business rights to Alton Shoji
KK (Shoji means trading), and restructured by forming a holding company, Nomura
Trading Holdings Co Ltd, at the caption address (See REGISTRATION). The corporate
name survived as captioned. In Apr 2005,
integrated business structure into three major business units: Food Business
Units (Farm/Marine/Livestock business); Consumer Products Business Unit
(Apparel, Housing, Building Materials business) and Industrial Business Unit
(Materials, Chemical, Machinery & Electronics). Operates 23 overseas JV
enterprises/affiliates.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 85,496
million, a 9% up from Yen 78,477 million in the previous term. The recurring profit was posted at Yen 938
million and the net profit at Yen 542 million, respectively, compared with Yen
214 million recurring profit and Yen 79 million net profit, respectively, a
year ago.
For the current term ending Mar 2012 the recurring profit is projected
at Yen 940 million and the net profit at Yen 550 million, respectively, on a 3%
rise in turnover, to Yen 88,000 million.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 926.6 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun
1976
Regd No.: (Osaka-Chuoku) 074101
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 8
million shares
Issued: 2 million shares
Sum: Yen 2,500 million
Major shareholders (%):
Nomura Trading Holdings Co Ltd*(100)
*.. Holding company, founded 2002, at the caption address, capital Yen
10 million, sales Yen 94,011 million, recurring profit Yen 1,095 million, net
profit Yen 796 million, total assets Yen 29,097 million, net worth Yen 4,246
million, employees 900, pres Katsushige Miyashita, concurrently
Consolidated Financials are attached (See SUPPLEMENTS)
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Imports, exports
and wholesales foods, consumer goods, industrial machinery & materials,
others:
(Sales breakdown
by divisions):
Food Business Unit
(41%): Agricultural products (coffee beans, grains, edible oils, spices,
preparation with cocoa, sugar, milk), Marine products (mackerel, capelin, horse
mackerel, herring, salmon, other), Animal products (meat, sausages, hams, other
meat products), Wellness goods (medical materials, health foods, food
additives, collagen, placenta, pet foods);
Consumer Products
Unit (19%): Apparel (garments for men & women, kids wear, young casual wear,
sports wear, brands goods). Household goods (bedding, furniture, home
appliances, kitchen utensils, brand name ceramics, plywood, jointed wood,
lumber, home improvement store materials, office furniture), Building materials
(construction materials, interior fixtures, wood floor materials);
Industrial
business Unit (40%): machine tools, plastic injection molding machines,
knockdown parts for gasoline dispensing pumps, wind power generators,
environmental equipments, inspection machines for mobile phones & LCD
displays, elastomers, iron ore, cement clinker, blast furnace slag, zinc
powder, mercury, manganese, plastics, dye pigments, other,
Overseas Trading
Ratio (86%): Asia 60%; other regions 26%
Clients: [Meat packers,
food processors, wholesalers] Nippon Meat Packers, Key Coffee, Nippon Crown
Corp, Food Agency, Meiji Seika, Takeda Kirin Foods, Osaka Uoichiba, Hasec,
Murachiku Co, other
No. of accounts: 2,000
Domestic areas of
activities: Nationwide
Suppliers: [Chemical mfrs,
wholesalers] Tosoh Corp, Sumitomo Metal Ind, Ube Ind, Mitsubishi Heavy Ind,
Clayton Polymer Japan, Aron Kasei Murachiku, Denki Kagaku Kogyo, Brother Sales,
other.
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
·
Resona Bank (Ohtemachi)
Mizuho Bank
(Yaesuguchi)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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88,000 |
85,497 |
78,478 |
88,772 |
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Recur.
Profit |
|
940 |
938 |
214 |
254 |
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Net
Profit |
|
550 |
543 |
79 |
160 |
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Total
Assets |
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28,152 |
28,578 |
27,787 |
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Current
Assets |
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25,911 |
25,951 |
24,900 |
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Current
Liabs |
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23,479 |
24,115 |
22,999 |
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Net
Worth |
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3,769 |
3,349 |
3,380 |
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Capital,
Paid-Up |
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|
2,500 |
2,500 |
2,500 |
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Div.P.Share(¥) |
|
|
410.00 |
1,108.00 |
3,194.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.93 |
8.94 |
-11.60 |
8.48 |
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Current Ratio |
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.. |
110.36 |
107.61 |
108.27 |
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N.Worth Ratio |
.. |
13.39 |
11.72 |
12.16 |
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R.Profit/Sales |
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1.07 |
1.10 |
0.27 |
0.29 |
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N.Profit/Sales |
0.63 |
0.64 |
0.10 |
0.18 |
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Return On Equity |
.. |
14.41 |
2.36 |
4.73 |
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Notes: Forecast figures for the 31/03/2012
fiscal term
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF THE PARENT, NOMURA
TRADING HOLDINGS CO LTD
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2011 |
31/03/2010 |
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INCOME STATEMENT |
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Annual Sales |
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94,011 |
86,898 |
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Cost of Sales |
88,526 |
82,079 |
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GROSS PROFIT |
5,484 |
4,818 |
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Selling & Adm Costs |
4,297 |
4,233 |
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OPERATING PROFIT |
1,187 |
585 |
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Non-Operating P/L |
-92 |
-106 |
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RECURRING PROFIT |
1,095 |
479 |
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NET PROFIT |
796 |
270 |
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BALANCE SHEET |
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Cash |
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3,619 |
3,904 |
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Receivables |
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13,985 |
13,541 |
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Inventory |
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8,864 |
9,025 |
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Securities, Marketable |
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Other Current Assets |
740 |
813 |
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TOTAL CURRENT ASSETS |
27,208 |
27,283 |
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Property & Equipment |
219 |
327 |
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Intangibles |
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51 |
87 |
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Investments, Other Fixed Assets |
1,619 |
1,702 |
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TOTAL ASSETS |
29,097 |
29,399 |
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Payables |
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14,443 |
14,255 |
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Short-Term Bank Loans |
6,506 |
7,054 |
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Other Current Liabs |
2,985 |
3,164 |
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TOTAL CURRENT LIABS |
23,934 |
24,473 |
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Debentures |
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Long-Term Bank Loans |
40 |
160 |
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Reserve for Retirement Allw |
666 |
715 |
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Other Debts |
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210 |
250 |
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TOTAL LIABILITIES |
24,850 |
25,598 |
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MINORITY INTERESTS |
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Common
stock |
10 |
10 |
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Additional
paid-in capital |
2 |
2 |
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Retained
earnings |
4,057 |
3,572 |
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Evaluation
p/l on investments/securities |
(18) |
31 |
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Others |
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195 |
186 |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
4,246 |
3,801 |
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TOTAL EQUITIES |
29,097 |
29,399 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
4,246 |
3,801 |
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Current
Ratio (%) |
113.68 |
111.48 |
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Net
Worth Ratio (%) |
14.59 |
12.93 |
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Recurring
Profit Ratio (%) |
1.16 |
0.55 |
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Net
Profit Ratio (%) |
0.85 |
0.31 |
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Return
On Equity (%) |
18.75 |
7.10 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.38 |
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UK Pound |
1 |
Rs.74.01 |
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Euro |
1 |
Rs.64.48 |
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 |
-- |
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.