MIRA INFORM REPORT
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Report Date : |
09.02.2012 |
IDENTIFICATION DETAILS
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Name : |
IGARASHI REIZO CO LTD |
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Registered Office : |
2-10-15 Shibaura Minatoku Tokyo 108-0023 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2011 |
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Date of Incorporation : |
April 1922 |
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Com. Reg. No.: |
(Tokyo-Minatoku)
002592 |
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Legal Form : |
Limited Company |
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Line of Business : |
Cold Storage Operation |
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No. of Employees
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220 |
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 370.8 Million |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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Litigation : |
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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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
IGARASHI REIZO CO LTD
REGD NAME
Igarashi Reizo KK
MAIN OFFICE
2-10-15 Shibaura Minatoku
Tokyo 108-0023 JAPAN
Tel:
03-3451-1111 Fax: 03-3451-1114
E-Mail
address: (thru the URL)
ACTIVITIES
Cold
storage operation
BRANCHES
Yokohama,
Osaka, Nagoya, other (Tot 11)
FACTORIES
At the
caption address
OFFICERS
YASUYUKI
IGARASHI, PRES Kenji
Igarashi, v pres
Hirohiko
Yoshida, s/mgn dir Heiichi
Yonekura, dir
Kazuo
Takagi, dir Takashi
Masuda, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 21,250 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND UP WORTH Yen 4,248 M
STARTED 1922 EMPLOYES 220
COMMENT
COLD STORAGE OPERATION.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT
LIMIT: YEN 370.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Yosuke Igarashi in order to make most of his experience in the subject line of business. This firm has been succeeded by his descendants. This is a cold storage operator at the caption address, storing marine products, agriculture products, livestock products, other. Clients include major food mfrs, general trading house, other, nationwide
FINANCIAL INFORMATION
The sales volume for Feb/2011 fiscal term amounted to Yen 21,250
million, a 9% up from Yen 19,585 million in the previous term. Storage of vegetables, imported from China,
increased. The recurring profit was
posted t Yen 851 million and the net profit at Yen 431 million, respectively,
compared with Yen 724 million recurring profit and Yen 385 million net profit,
respectively, a year ago.
For the current term ending Feb/2012 the recurring profit is projected
at Yen 900 million and the net profit at Yen 450 million, respectively, on an
8% rise in turnover, to Yen 23,000 million.
Handling of cold/chilled foods continues increasing.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 370.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1922
Regd No.: (Tokyo-Minatoku) 002592
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 8
million shares
Issued:
2 million shares
Sum: Yen 100 million
Major shareholders (%): Minato Reizo (54), Nippon
Suisan Co (10), Yasuyuki Igarashi (5), Kenji Igarashi (4)
No. of shareholders: 18
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Cold storage
operation (100%)
Clients: [Mfrs,
wholesalers] Sumikin Bussan Corp, Starzen Co, Mitsubishi Corp, Japan Food,
Sojitz Foods, Moss Food Service, Inageya, Kentucky Fried Chicken Japan, CGC
Japan, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Simplot, Talleys, Hokkaido Federation of Fisheries Cooperative
Assn, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC
(Shimbashi)
Mizuho
Bank (Shiba)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
29/02/2012 |
28/02/2011 |
28/02/2010 |
28/02/2009 |
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Annual
Sales |
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23,000 |
21,250 |
19,585 |
20,346 |
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Recur.
Profit |
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900 |
851 |
724 |
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Net
Profit |
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450 |
431 |
385 |
95 |
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Total
Assets |
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19,081 |
19,512 |
19,990 |
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Current
Assets |
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4,640 |
4,926 |
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Current
Liabs |
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5,316 |
5,577 |
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Net
Worth |
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4,248 |
3,841 |
3,475 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
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Div.P.Share(¥) |
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50.00 |
50.00 |
50.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
8.24 |
8.50 |
-3.74 |
-3.11 |
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Current Ratio |
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.. |
87.28 |
88.33 |
.. |
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N.Worth Ratio |
.. |
22.26 |
19.69 |
17.38 |
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R.Profit/Sales |
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3.91 |
4.00 |
3.70 |
.. |
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N.Profit/Sales |
1.96 |
2.03 |
1.97 |
0.47 |
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Return On Equity |
.. |
10.15 |
10.02 |
2.73 |
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Notes:
Forecast (or estimated) figures for the 29/02/2012 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.07 |
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UK Pound |
1 |
Rs.78.09 |
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Euro |
1 |
Rs.65.15 |
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 |
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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.