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Report Date : |
25.07.2012 |
IDENTIFICATION DETAILS
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Name : |
MEIJI FOOD MATERIA CO LTD |
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Registered Office : |
2-4-16 Kyobashi
Chuoku |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
October
1971 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import,
wholesale of sugar, sugar products, corn sweeteners |
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No. of Employees : |
74 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
MEIJI FOOD MATERIA CO LTD
(MEIJI TRADING CORP IS ITS TRADING
DIVISION)
KK Meiji Food
Materia
2-4-16 Kyobashi
Chuoku Tokyo 104-0031 JAPAN
Tel:
03-3273-0360 Fax: 03-3273-0290
E-Mail address: (thru the URL)
Import,
wholesale of sugar, sugar products, corn sweeteners, other
Nagoya,
Osaka, Sapporo, Fukuoka, Okinawa
KIYOSHI
EBARA, PRES Masaaki Yoneyama,
dir
Ryuichi
Otsuka, dir Takashi
Fujioka, dir
Yoshizumi
Teraoka, dir Yoshio Moriyama, dir
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 68,949 M
PAYMENTS No
Complaints CAPITAL Yen 300 M
TREND UP WORTH Yen 3,948 M
STARTED 1971 EMPLOYES 74
TRADING FIRM SPECIALIZING IN SUGAR, SUGAR PRODUCTS, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a division separated from Meiji Sugar Seika (See REGISTRATION). This is a trading firm specializing in sugar, sugar products, corn sweeteners, other (See OPERATION). The given Meiji Trading Corp is its trading division, focusing on import business.
The sales volume for Mar/2012 fiscal term amounted to Yen 68,949 million, a 2% up from Yen 67,287 million in the previous term. Imports increased. The recurring profit was posted at Yen 852 million and the net profit at Yen 460 million, respectively, compared with Yen 838 million recurring profit and Yen 463 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 860 million and the net profit at Yen 480 million, respectively, on a 3% rise in turnover, to Yen 71,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Oct 1971
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.17 million shares
Issued:
1.17 million shares
Sum: Yen 300 million
Major shareholders (%): Meiji Holdings Co Ltd* (94.9),
Nippon Beet Sugar Mfg (5.1)
No. of shareholders: 2
*.. Joint holding company established thru management consolidation between Meiji Dairies and Meiji Seika in Apr 2009, at the caption address, listed Tokyo S/E, capital Yen 30,000 million, sales Yen 1,109,275 million, operating profit Yen 20,189 million, recurring profit Yen 21,882 million, net profit Yen 6,805 million, total assets Yen 749,985 million, net worth Yen 291,590 million, employees 15,338, pres Shigetaro Asano
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales sugar, sugar products (refined beet sugar, liquid sugar, other) (67%), corn sweeteners (fluctose-glucose syrup, corn syrup, other) (30%), new materials (milk calcium, Meiji shell powder, other (3%)
Clients: [Mfrs, wholesalers] Meiji Seika, Meiji Dairies, Ohnishi Corp, Takahashi Bussan Co, Ito Chain, Kamiyama Bussan, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nippon Beet Sugar Mfg, Itochu Food Sales, Mitsubishi Corp, Kato Kagaku Co, San-Ei Sucrochemical Co, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho
Bank (Kyobashi)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
|
71,000 |
68,949 |
67,287 |
64,237 |
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Recur.
Profit |
|
860 |
852 |
838 |
769 |
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Net
Profit |
|
480 |
466 |
463 |
423 |
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Total
Assets |
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11,417 |
9,996 |
9,077 |
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Current
Assets |
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10,396 |
9,188 |
8,257 |
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Current
Liabs |
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7,368 |
6,286 |
5,674 |
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Net
Worth |
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3,948 |
3,616 |
3,313 |
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Capital,
Paid-Up |
|
|
300 |
300 |
300 |
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Div.P.Share(¥) |
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|
130.00 |
120.00 |
110.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.97 |
2.47 |
4.75 |
1.43 |
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Current Ratio |
|
.. |
141.10 |
146.17 |
145.52 |
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N.Worth Ratio |
.. |
34.58 |
36.17 |
36.50 |
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R.Profit/Sales |
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1.21 |
1.24 |
1.25 |
1.20 |
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N.Profit/Sales |
0.68 |
0.68 |
0.69 |
0.66 |
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Return On Equity |
.. |
11.80 |
12.80 |
12.77 |
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Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.56.02 |
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UK Pound |
1 |
Rs.86.89 |
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Euro |
1 |
Rs.67.84 |
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.