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Report Date : |
23.07.2012 |
IDENTIFICATION DETAILS
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Name : |
COSMO FOODS CO LTD |
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Registered Office : |
100-19 Fujiyama Komagata Mizuhomachi Nishi-Tamagun |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April
1990 |
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Com. Reg. No.: |
0131-01-003069
(Tokyo-Nishitamagun-Mizuhomachi) |
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Legal Form : |
Limited Company |
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Line of Business : |
Processor of meat (beef, pork, chicken, ram, other) |
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No. of Employees : |
08 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
COSMO FOODS CO LTD
Cosmo Foods KK
100-19 Fujiyama Komagata Mizuhomachi Nishi-Tamagun Tokyo-Metrop 190-0202 JAPAN
Tel:
042-556-8911 Fax: 042-556-8915
URL: http://www.cosmo-meat.co.jp
E-mail address: (thru
the URL)
Processor
of meat (beef, pork, chicken, ram, other)
Nil
At the
caption address
KUNIO YAMADA, PRES
Shigeru
Yamada, dir
Eriko
Yamada, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES WEAK A/SALES Yen 750 M*
PAYMENTS Slow
CAPITAL Yen 50 M
TREND SLOW WORTH Yen 50 M**
STARTED 1990 EMPLOYES 8
*.. Figures as at
Dec/2010 fiscal term; **.. Expressed by the paid-in capital
MEAT PROCESSOR.
FINANCIAL SITUATION CONSIDERED WEAK AND SPECIAL HEED IS REQUIRED FOR BUSINES ENGAGEMENTS.
The subject company was established by Kunio Yamada in order to make most of his experience in the subject line of business. This is a meat processor, beef, port, chicken, ram, other. In Sept 2007 the firm went bankrupt with liabilities at Yen 1,500 million, turnover Yen 6,167 million for Mar/2007 fiscal term, and filed for protection under the Civil Rehabilitation Law. In May 2008, approved under the Law and in May 2011 a decision of approval of a rehabilitation plan was made under Article of 174, paragraph (1) of the Rehabilitation Act, and commenced operations.
Financials are only partially disclosed. Financials for Mar/2011 fiscal term are not made available, as commenced reoperations from May 2011.
The sales volume for Mar/2010 fiscal term amounted to Yen 750 million, a 52% down from Yen 1,557 million in the previous term. This is referred to the said bankruptcy and aftermath reduced operations. The net profit is believed to be a minimum amount, post taxes, similarly in the previous term.
For the term that ended Mar 2012 the net profit was projected at Yen 3 million, on a 4% rise in turnover, to Yen 780 million. Final results are yet to be released. The firm declined to disclose the figures.
The financial situation is considered WEAK and special heed is required in new transactions.
Date Registered: Apr 1990
Regd No.: 0131-01-003069
(Tokyo-Nishitamagun-Mizuhomachi)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,000 shares
Issued:
1,000 shares
Sum: Yen 50 million
Major shareholders (%): Kunio Yamada & families
(--100%
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Meat processor: beef, port, chicken, ram, other (--100%)
Clients: [Mfrs, wholesalers] Food Rink Co (20%), Jojoen Co, Senzan Co, Chanto Co, Tachi-S Co, Create Restaurants, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Food Rink Co, S Foods, Kanto Nippon Food, Starzen Co, Shinpoh Foods, other
Payment record: Slow
Location: Business area in Nishi-Tamagun, Tokyo-Metrop. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Fussa)
Mizuho Bank (Higashi-Ohme)
Relations: Money deposits & transfers only
(In Million Yen)
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31/03/2012 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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780 |
750 |
1,557 |
2,995 |
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Recur.
Profit |
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Net
Profit |
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5 |
0 |
0 |
0 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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50 |
50 |
50 |
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Capital,
Paid-Up |
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50 |
50 |
50 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.00 |
-51.83 |
-48.01 |
-51.44 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
0.64 |
0.00 |
0.00 |
0.00 |
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Notes:
Financials are only partially disclosed.
31/03/2011 financials are not disclosed.
Profits
were not disclosed and only estimated
Forecast
(or estimated) figures for the 31/03/2012 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.55.15 |
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UK Pound |
1 |
Rs.86.58 |
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Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.