MIRA INFORM REPORT

 

 

Report Date :

23.06.2012

 

IDENTIFICATION DETAILS

 

Name :

SAKAI FOODS INC 

 

 

Registered Office :

1-17-17 Tsurumibashi Nishinariku Osaka 557-0031

 

 

Country :

Japan

 

 

Financials (as on) :

31.07.2011

 

 

Date of Incorporation :

August 1992

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of sausages, ice cream, chocolate candies, other foods

 

 

No. of Employees :

14

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow

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

 

SAKAI FOODS INC

 

 

REGD NAME

 

Sakai Shokuhin KK

 

 

MAIN OFFICE

 

1-17-17 Tsurumibashi Nishinariku Osaka 557-0031 JAPAN

 

Tel: 06-6649-6337     Fax: 06-6649-6357

 

URL:                 http://www.sakaifoods.com/

E-Mail address:            support@sakaifoods.com

 

 

ACTIVITIES  

 

Import, wholesale of sausages, ice cream, chocolate candies, other foods

 

 

BRANCHES

 

Tokyo

 

 

OFFICER(S)

 

KEIJI SAKAI, PRES                  

Eiji Otani, dir

Yuki Sakai, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                 A/SALES          Yen 2,045 M

PAYMENTS      Slow              CAPITAL           Yen 10 M

TREND SLOW              WORTH            Yen 134 M

STARTED         1992                 EMPLOYES      14

 

 

COMMENT

 

IMPORTER AND WHOLESALER SPECIALIZING IN SAUSAGES. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

The subject company was established by Keiji Sakai in order to make most of his experience in the subject line of business.  This is a trading firm for import and wholesale of sausages as a mainstay, ice cream, chocolate candies, fruits spread, other foodstuffs.  Goods are imported centrally from USA & Europe.  Domestic clients include chain stores, food mfrs (livestock foods), department stores, other.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed.

 

The sales volume for Jul/2011 fiscal term amounted to Yen 2,045 million, a 27% down from Yen 2,809 million in the previous term.  Sausage imports decreased.  The net profit was posted at Yen 4 million, compared with Yen 5 million a year ago.

 

For the current term ending Jul 2012 the net profit is projected at Yen 5 million, on a 3% rise in turnover, to Yen 2,100 million.

 

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

 

 

REGISTRATION

 

Date Registered:  Aug 1992

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　800 shares

Issued:             　200 shares

Sum:                　Yen 10 million

 

Major shareholders (%): Keiji Sakai (90), Eiji Otani (10)

No. of shareholders: 2

 

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

 

 

OPERATION

 

Activities: Imports and wholesales Johnsonville sausages (as import agent), Turkey Hill ice cream, Wolfgang Candy (chocolate sweets & candies), Amish Naturals (fruits spreads), honey butter products, other foodstuffs (--100%).

 

Handling brands include: Zabar’s, Honey Butter, Brooklyn Brine, Asher’s Chocolate, other

 

Clients: [Mfrs, wholesalers, chain stores] Marudai Food Co (50%), Sumikin Bussan Corp, Costco Wholesale Japan, Nichirei, Kinokuniya, Itochu Shokuhin, Queen’s Isetan, Ion Marche, Kinokuniya Co, other

 

            No. of accounts: 300

            Domestic areas of activities: Centered in greater-Osaka and Tokyo

 

Suppliers: [Mfrs, wholesalers] Rose Packing Co, Cookies Foods Products Inc, BCGS Concept Corp, ACME Smoked Fish Corp, other from USA, Europe, etc.

Domestically supplied from Marudai Food Co, other

 

Payment record: Slow

 

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

 

Bank References:

Mizuho Bank (Namba)

Kansai Urban Bank (Namba)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

　

　

31/07/2012

31/07/2011

31/07/2010

31/07/2009

Annual Sales

　

2,100

2,045

2,809

2,957

Recur. Profit

　

　

　

　

　

Net Profit

　

5

4

5

15

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

134

130

125

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.69

-27.20

-5.01

23.21

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.24

0.20

0.18

0.51

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/07/2012 fiscal term. 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.99

UK Pound

1

Rs.88.97

Euro

1

Rs.71.57

 

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.