MIRA INFORM REPORT

 

 

Report Date :           

24.01.2012

 

IDENTIFICATION DETAILS

 

Name :

TOMINAGA BOEKI KAISHA LTD

 

 

Registered Office :

5-1-21 Gokodori Chuoku Kobe 651-0087

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

September 1949

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of foodstuffs

 

 

No. of Employees :

93

 

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 691.2 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 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

 

TOMINAGA BOEKI KAISHA LTD

 

 

REGD NAME 

 

Tominaga Boeki KK

 

 

MAIN OFFICE

 

5-1-21 Gokodori Chuoku Kobe 651-0087 JAPAN

Tel: 078-232-8600     Fax: 078-232-8666

 

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

E-Mail address:                        info@tominaga.co.jp

 

 

ACTIVITIES

 

Import, export, wholesale of foodstuffs

 

 

BRANCHES

 

Tokyo, Fukuoka

 

 

OFFICER(S)

 

AKIYOSHI TOMINAGA, PRES                Kenichi Tanaka, s/mgn dir

Koichi Satoh, mgn dir                             Akihito Sone, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 28,218 M

PAYMENTS      REGULAR                     CAPITAL           Yen 75 M

TREND             UP                                WORTH            Yen 788 M

STARTED                     1949                             EMPLOYES      93

 

 

COMMENT    

 

TRADING HOUSE SPECIALIZING IN FOODSTUFFS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARYBUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 691.2 MILLION, NORMAL TERMS.

 

 

HIGHLIGHTS

 

The subject company was established originally in 1923 by Hisakichi Tominaga for exporting vegetables and see weeds to S/E Asian countries, on his account.  Incorporated in 1949, the firm has been succeeded by the founder’s descendants.  Akiyoshi is the third generation master.  This is a trading house specializing in foodstuffs.  Handling items are: fresh fruits & vegetables, nuts & dry fruits, sea weeds, teas, jam, pasta, liquors, other.  Also handles imports beverage bottles, food containers, etc.  Goods are imported widely from Asia, Mid East, N & S America, Europe, Oceania, Africa, other. 

 

FINANCIAL INFORMATION

 

The sales volume for Dec/2010 fiscal term amounted to Yen 38,218 million, a 3% up from Yen 37,034 million in the previous term.  This is attributed to the expanded sales networks.   The net profit was posted at Yen 533 million, compared with Yen 517 million a year ago.

 

For the tem that just ended Dec/2011 the net profit was projected at Yen 540 million, on a 3% rise in turnover, to Yen 39,500 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 691.2 million, on normal terms.

 

 

REGISTRATION

 

Date Registered:  Sept 1949

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         6 million shares

Issued:                1.5 million shares

Sum:                   Yen 75.16 million

Major shareholders (%): Akiyoshi Tominaga (30), Tominaga Foods (24), Shohei Tominaga (10), Risa Tominaga (10), Tomaru Iwasaki (10)

 

No. of shareholders: 10

 

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

 

 

OPERATION

 

Activities: Imports and wholesales fresh fruits & vegetables, nuts & dried fruits, sea weeds, teas, Jam, pasta, liquors, beverage bottles, fruits containers, other (85%); exports fresh fruits & vegetables, others (--15%). 

Imports and exports are from & to: Europe, N&S America, Africa, Mid East, Asia, Oceania, other.

 

Clients: [Food processors, wholesalers, chain stores] Cheerio Corp, Cheerio Nakabe, Mitsui Foods, Kobe Bussan, Kumamoto-Pref Federation of Economy & Agricultural Coop, Aseed Blue Co, other.

            No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Cheerio Nakabe, Kumamoto-Pref Federation of Economy & Agricultural Coop, Yoshino Kogyosho, Aseed Blue Co, Haruna Beverage, other.

 

Payment record: Regular

 

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

 

Bank References:

·         Resona Bank (Kobe)

·         MUFG (Sannomiya)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/12/2011

31/12/2010

31/12/2009

31/12/2008

Annual Sales

　

39,500

38,218

37,034

32,676

Recur. Profit

　

　

　

　

　

Net Profit

　

540

533

517

-397

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

788

415

54

Capital, Paid-Up

　

　

75

75

75

Div.Tot in million(¥)

　

　

14

14

14

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.35

3.20

13.34

1.70

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

1.37

1.39

1.40

-1.21

 Notes: Forecast (or estimated) figures for the 31/12/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.24

UK Pound

1

Rs.78.13

Euro

1

Rs.64.79

 

 

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.