MIRA INFORM REPORT

 

 

Report Date :

23.07.2012

 

IDENTIFICATION DETAILS

 

Name :

VOX TRADING CO LTD

 

 

Registered Office :

Tokyu Reit Bldg, 2-7-1 Hatchobori Chuoku Tokyo 104-0052

 

 

Country :

Japan

 

 

Financials (as on) :

30.11.2011

 

 

Date of Incorporation :

December 2002

 

 

Legal Form :

Limited Company

 

 

Line of Business :

A trading house for import, export, wholesale of foodstuffs

 

 

No. of Employees :

74

 

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

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

VOX TRADING CO LTD

 

 

REGD NAME

 

KK Vox Trading

 

 

MAIN OFFICE

 

Tokyu Reit Bldg, 2-7-1 Hatchobori Chuoku Tokyo 104-0052 JAPAN

Tel: 03-3555-5500     Fax: 03-3555-5568

 

*.. Moved to the caption address in Apr 2012 from the former as given

 

URL:                 http://www.voxtrading.jp/

E-Mail address:            info@voxtrading.jp

 

 

ACTIVITIES

 

A trading house for import, export, wholesale of foodstuffs

 

 

BRANCHES

 

Osaka, Nagoya, Fukuoka, Sapporo

 

 

OVERSEAS

 

 China (10), Thailand (3), USA, Australia, Indonesia (2, Poland)

 

 

OFFICER(S)

 

Ken’ichi Nagatani, ch                 TAKEHISA HASHIMOTO, PRES                                                                        

Kenji Fukada, dir                        Haruki Kawabe, dir

Chikahiro Ohgaki, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 16,039 M

PAYMENTS      No Complaints          CAPITAL           Yen 500 M

TREND SLOW                          WORTH            Yen 834 M

STARTED         2002                             EMPLOYES      74

 

 

COMMENT

 

TRADING HOUSE SPECIALIZING IN SPICES AND FOODSTUFFS. 

 

FINANCIAL SITUATION IS CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

 

The subject company was established on the basis of a food & grain division separated from Yuasa Trading Co Ltd, a trading house specializing in food & lumber, Tokyo, by acquiring its trade rights on an MBO (management buyout) deal.  This is a specialized trading house for import, export and wholesale of foodstuffs, particularly horseradish and spices (Japanese wasabi spices).  A pioneer in cultivating horseradish in China, with its import share accounting for around 80% of the domestic market.  Handling items are varied: cereal, feeds, livestock products, farm produce, spices, edible oils, shrimps, nuts, canned/bottled foods, pet foods, other.  This is a unique trading house with not only import & export operations but with food engineering technologies for production, that entail: overseas planting at own or leased farms, including seeding, cultivating, processing, quality control, sorting at own yards; exporting & supplying to clients overseas, mostly to Japan.  Domestic clients include food processors, feed makers, other, nationwide.

 

 

FINANCIAL INFORMATION

 

The sales volume for Nov/2011 fiscal term amounted to Yen 16,039, a 3% up from Yen 15,550 million in the previous term.  The recurring profit was posted at Yen 354 million and the net profit at Yen 350 million, respectively, compared with Yen 222 million recurring profit and Yen 161 million net profit, respectively, a year ago.

 

For the current term ending Nov 2012 the recurring profit is projected at Yen 355 million and the net profit at Yen 350 million, respectively, on a 3% rise in turnover, to Yen 16,500 million.

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Dec 2002

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         40,000 shares

Issued:                10,000 shares

Sum:                   Yen 500 million

 

Major shareholders (%): Capital Partner 2-Go Investment (19), House Foods Corp (11), Yamada Business Consulting (4)

 

No. of shareholders: 37

 

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

 

 

OPERATION

 

Activities: Import, export and wholesale of cereals, feeds, livestock products, spices, chilled fruits & vegetables, fishery products, grain-starch, frozen horseradish, dried/fresh wasabi (stems, leaves, root), mustard, natural essential oils, pet foods, canned/bottled foods, others (--100%). 

 

Products are produced, processed, sorted at overseas subcontracted farms & yards.

 

Clients: [Feed mills, food processors, chain stores, specialized wholesalers] Kyodo Feed Mills, Toyohashi Shiryo, Life Foods, Nosui Corp, Hokuto Corp, Riken Vitamin, House Foods, Mitsui & Co, Nippon Meat Packers Inc, Hayashikane Sangyo Co, Torigoe Co, Kaneku Wasabi Co, other.

            No. of accounts: 800

            Domestic areas of activities: Nationwide

 

Suppliers: [Growers, mfrs, wholesalers] Imports from Vox Trading USA, Timfood, PT Java Agri-Tech, Lanna Products (--subsidiaries), other from USA, China, Thailand, Canada, Korea, Australia, etc.

 

Payment record: No Complaints

 

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

 

Bank References:

SMBC (Ningyocho)

Mizuho Bank (Marunouchi)

Relations: Satisfactory

 

FINANCES

 (In Million Yen)

 

       Terms Ending:

30/11/2012

30/11/2011

30/11/2010

30/11/2009

Annual Sales

　

16,500

16,039

15,550

16,798

Recur. Profit

　

355

354

222

　

Net Profit

　

350

350

161

433

Total Assets

　

　

8,016

7,797

　

Current Assets

　

　

6,686

6,521

　

Current Liabs

　

　

5,614

5,259

　

Net Worth

　

　

834

572

448

Capital, Paid-Up

　

　

500

500

500

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.87

3.14

-7.43

-20.64

    Current Ratio

 

..

119.10

124.00

..

    N.Worth Ratio

..

10.40

7.34

..

    R.Profit/Sales

 

2.15

2.21

1.43

..

    N.Profit/Sales

2.12

2.18

1.04

2.58

    Return On Equity

..

41.97

28.15

..

 

Notes: Forecast (or estimated) for the 30/11/2012 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.15

UK Pound

1

Rs.86.58

Euro

1

Rs.67.60

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.