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Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
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Name : |
KIBUN FOODS INC |
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Registered Office : |
2-1-7 Kaigan Minatoku |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
September 1947 |
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Com. Reg. No.: |
0100-01-041880 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of fish cake (Surimi), fish paste, delicatessen foods, beverages, seasonings |
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No. of Employees : |
1,478 |
RATING & COMMENTS
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MIRAs 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 : |
-- |
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 |
KIBUN FOODS INC
REGD NAME: KK
Kibun Shokuhin (Shokuhin means foods)
MAIN OFFICE: 2-1-7
Kaigan Minatoku
Tel:
03-6891-2600 Fax: 03-6891-2705
*.. Registered at:
5-15-1 Ginza Chuoku Tokyo
URL: http//:www.kibun.co.jp
E-mail: (thru the URL)
Mfg of fish cake
(Surimi), fish paste, delicatessen foods, beverages, seasonings
Sapporo, Sendai,
Maebashi, Nagoya, Osaka, Hiroshima
USA, Hong Kong,
China, Singapore, Taiwan, Thailand (-- subsidiaries)
Eniwa, Tokyo,
Funabashi, Yokohama, Shizuoka, Osaka, Saga, Okayama
MASAHITO HOASHI,
PRES Yasuaki Takaichi, s/mgn dir
Kazumasa Atsumi,
mgn dir Kazuhito Ishizuka, mgn dir
Hiroshi Tsutsumi,
mgn dir Hisashi
Kuwata, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 67,927 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 4,425 M
TREND SLOW WORTH Yen 11,019 M
STARTED 1947 EMPLOYES 1,478
MFR OF FISH CAKES
& PASTE (SURIMI),BEVERAGES, SEASONINGS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established
by Kunihito Hoashi originally in 1938 for selling fish products, on his
account. Incorporated in 1947, the firm
has been succeeded by his descendants.
Masahito is the third generation master who took the pres office in Jan
1980. This is a specialized mfr of fish
cakes, pastes (as called Surimi in Japanese).
Also makes delicatessen foods, beverages, seasoning, etc. Subsidiaries (8 domestic) are engaged in mfg
meat products, agricultural products, fish products, and chemicals. In 2002, went into business tie-up with
Maruha Corp (now Maruha Nichiro Holdings Inc), subsequently in 2004, went into
capital and business tie-ups with Kikkoman Corp, worlds largest soy sauce
brewer, Chiba. Clients include major
food processors, food chains, supermarkets, nationwide.
The sales volume for Mar/2011 fiscal
term amounted to Yen 67,927 million, an inch up from Yen 67,691 million in the
previous term. Sales volumes were
increased but the high Yen eroded earnings & profits in Yen terms. The recurring profit was posted at Yen 412
million and the net profit at Yen 157 million, respectively, compared with Yen
1,006 million recurring profit and Yen 410 million net profit, respectively, a
year ago.
For the term that ended Mar 2012 the
recurring profit was projected at Yen 420 million and the net profit at Yen 170
million, respectively, on a 3% rise in turnover, to Yen 70,000 million. Final results are yet to be released.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered:
Sept 1947
Regd No.:
0100-01-041880 (Tokyo-Chuoku)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 35 million shares
Issued: 8,851,600 shares
Sum: Yen 4,425.8
million
Major
shareholders (%): Masahito Hoashi (25), Kifu Sangyo* (10), Mizuho Bank (4.7), Kikkoman
Corp (2.9)
* Holding company owned by the Hoashi family
No. of shareholders: 438
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures fish
products (cakes/paste), processed meat, cooked foods, delicatessen, beverages
(non-alcoholic), seasonings, agricultural products, other (--100%).
Clients: [Supermarkets,
food chains, food processors] Ito-Yokado, Aeon Inc, Seven-Eleven Japan, Family
Mart, Daiei Inc, Seiyu GK, Uny Co, Maruetsu Inc, Life Corporation, other.
No. of accounts:
1,000
Domestic areas of
activities: Nationwide
Suppliers: [Fish firms,
wholesalers] Maruha Nichiro Holdings, Food Chemiphar, Kewpie Egg Co, Yamaichi
Suisan, Kikkoman Beverages, 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
(Tsukiji)
SMBC (Shimbashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
|
70,000 |
67,927 |
67,691 |
68,983 |
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Recur.
Profit |
|
420 |
412 |
1,006 |
956 |
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Net
Profit |
|
170 |
157 |
410 |
525 |
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Total
Assets |
|
|
58,582 |
60,677 |
61,095 |
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Current
Assets |
|
|
9,121 |
9,562 |
9,253 |
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Current
Liabs |
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|
22,645 |
22,744 |
23,941 |
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Net
Worth |
|
|
11,019 |
11,109 |
10,821 |
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Capital,
Paid-Up |
|
|
4,425 |
4,425 |
4,425 |
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Div.P.Share(₯) |
|
|
0.00 |
0.00 |
6.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.05 |
0.35 |
-1.87 |
2.61 |
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Current Ratio |
|
.. |
40.28 |
42.04 |
38.65 |
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N.Worth Ratio |
.. |
18.81 |
18.31 |
17.71 |
|
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R.Profit/Sales |
|
0.60 |
0.61 |
1.49 |
1.39 |
|
N.Profit/Sales |
0.24 |
0.23 |
0.61 |
0.76 |
|
|
Return On Equity |
.. |
1.42 |
3.69 |
4.85 |
|
Notes: Forecast (or
estimated) figures for the 31/03/2012fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.85 |
|
|
1 |
Rs.86.88 |
|
Euro |
1 |
Rs.69.88 |
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 |
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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 SCs 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.