MIRA INFORM REPORT

 

 

Report Date :

25.07.2012

 

IDENTIFICATION DETAILS

 

Name :

NOSUI CORPORATION

 

 

Registered Office :

3-2-1 Tamagawa Fukushimaku Osaka 553-0004

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

May 1956

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of fish products, frozen foods

 

 

No. of Employees :

208

 

 

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 and address

 

NOSUI CORPORATION

REGD NAME:    KK Nosui

MAIN OFFICE:  3-2-1 Tamagawa Fukushimaku Osaka 553-0004 JAPAN

Tel: 06-6445-6301     

 

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

E-Mail address: (thru the URL)

 

 

ACTIVITIES

 

Import, wholesale of fish products, frozen foods

 

BRANCHES

 

Tokyo, Sapporo, Sendai, Nagoya, Fukuoka

 

OVERSEAS

 

China (4), Thailand (2), Vietnam, Australia, USA

 

FACTORIES

 

(subsidiaries)

 

 

OFFICERS

 

IWAO SUGITA, PRES                Kazue Kitahara, mgn dir

Tadato Tomari, mgn dir               Toshihiro Kanda, mgn dir

Koji Harada, mgn dir                   Hiroyuki Hayashi, dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 44,159 M

PAYMENTS  NO COMPLAINTS  CAPITAL           Yen 435 M

TREND UP                                WORTH            Yen 4,624 M

STARTED         1956                             EMPLOYES      208

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN FISH PRODUCTS & FROZEN FOODS.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

           

 

HIGHLIGHTS

           

            The subject company was established by Iwao Sugita in order to make most of his experience in the subject line of business.  This is a trading firm, with mfg division, for import and wholesale of fish products & frozen foods.  Operates subsidiary makers in China (4), Thailand (2) and Vietnam.  Food processing is done by subsidiaries.

 

 

FINANCIAL INFORMATION

           

            The sales volume for Mar/2012 fiscal term amounted to Yen 44,159 million, a 5% up from Yen 42,013 million in the previous term.  Import of sushi materials increased.  The recurring profit was posted at Yen 1,108 million and the net profit at Yen 615 million, respectively, compared with Yen 988 million recurring profit and Yen 469 million net profit, respectively, a year ago.

 

            For the current term ending Mar 2013 the recurring profit is projected at Yen 1,200 million and the net profit at Yen 650 million, respectively, on a 2% rise in turnover, to Yen 45,000 million.  

 

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

 

 

REGISTRATION

 

Date Registered:  May 1956

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         2.9 million shares

Issued:                740,000 shares

Sum:                   Yen 435 million

  Major shareholders (%): Mitsui & Co (13.5), Yoshihiro Okamoto (9.4), Employees’

S/Holding Assn (9.3), Sojitz Foods (7.8), Toyota Tsusho Corp (7.8), Mitsubishi Corp(3.8)

No. of shareholders: 127

 

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

 

 

OPERATION

           

Activities: Imports and wholesales fish & fish products (44%), frozen foods, others (--56%).

 

Clients: [Mfrs, wholesalers] Agri Foods, Itochu Corp, Mitsubishi Foods, Skylark Restaurants, Food Service Network, other 

No. of accounts: 300

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Itochu Corp, Mitsui & Co, Nomura Trading, Tokyo Seafoods, other

 

Payment record: No Complaints

 

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

 

Bank References:

SMBC (Osaka)

Mizuho Corporate Bank (Osaka)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

　

45,000

44,159

42,013

38,837

Recur. Profit

　

1,200

1,108

988

930

Net Profit

　

650

615

469

502

Total Assets

　

　

17,363

15,382

14,029

Current Assets

　

　

15,097

13,261

　

Current Liabs

　

　

11,259

10,056

　

Net Worth

　

　

4,624

4,052

3,686

Capital, Paid-Up

　

　

435

435

435

Div.P.Share(¥)

　

　

100.00

100.00

100.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

1.90

5.11

8.18

-0.23

    Current Ratio

 

..

134.09

131.87

..

    N.Worth Ratio

..

26.63

26.34

26.27

    R.Profit/Sales

 

2.67

2.51

2.35

2.39

    N.Profit/Sales

1.44

1.39

1.12

1.29

    Return On Equity

..

13.30

11.57

13.62

 

Notes: Forecast (or estimated) figures for the 31/03/2013 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.01

UK Pound

1

Rs.86.89

Euro

1

Rs.67.83

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.