MIRA INFORM REPORT

 

 

Report Date :

27.03.2012

 

IDENTIFICATION DETAILS

 

Name :

NOMURA TRADING CO LTD

 

 

Registered Office :

Kamiyacho Central Place, 4-3-13 Toranomon Minatoku Tokyo 105-0001

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

Jun 1976

 

 

Com. Reg. No.:

(Osaka-Chuoku) 074101

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, export, wholesale of livestock products, farm & marine products, textiles

 

 

No. of Employees :

229

 

 

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

 

Maximum Credit Limit :

Yen 926.6 Million

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

 

 

 

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

NOMURA TRADING CO LTD

REGD NAME:    Nomura Boeki KK

 

 

MAIN OFFICE

 

Kamiyacho Central Place, 4-3-13 Toranomon Minatoku Tokyo 105-0001 JAPAN

Tel: 03-3438-7600     Fax: 03-3438-7625

*.. Moved to the caption address from the one as given

**.. Registered at: 1-7-3 Azuchimachi Chuoku Osaka 541-0052 JAPAN

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

E-Mail address: info@nomuratrading.co.jp

 

 

ACTIVITIES

 

Import, export, wholesale of livestock products, farm & marine products, textiles

 

 

BRANCHES   

 

Tokyo, Fukuoka

 

 

OVERSEAS

 

(Branch Offices): Singapore, Frankfurt, Seattle, Taipei, Kaohsiung

(Rep Offices): Sydney, Ho Chin Minh, Hanoi, Beijing, Dalian

(Affiliated): Yangon, Medan, Rio Janeiro

(JV’s): China (3), Hong Kong, Indonesia (5), Laos, Thailand (6), Vietnam (4)

(Invested Enterprises): China (3), Indonesia (3), Thailand (5), Vietnam (5),

Germany (1)

 

 

OFFICER(S)

 

KATSUSHIGE MIYASHITA, PRES                      Hideo Fujita, mgn dir

Shizuya Shimoji, dir                               Akira Sumida, dir

Ryoji Yuasa, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 85,496 M

PAYMENTS      No complaints   CAPITAL           Yen 2,500 M

TREND             SLOW              WORTH            Yen 3,769 M

STARTED                     1976                 EMPLOYES      229

 

 

COMMENT

 

TRADING HOUSE SPECIALIZING IN FOODSTUFFS, APPAREL, OTHERS,   OWNED BY NOMURA TRADING HOLDINGS CO LTD.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

MAX CREDIT LIMIT: YEN 926.6 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established originally in 1917 by Tokushichi Nomura in order to make most of his experience in foreign trading, on his account.  This is a trading house specializing in import, export and wholesale of foods, apparel, industrial materials, other.  In Apr 2002, due to financial difficulties the firm transferred its business rights to Alton Shoji KK (Shoji means trading), and restructured by forming a holding company, Nomura Trading Holdings Co Ltd, at the caption address (See REGISTRATION).  The corporate name survived as captioned.  In Apr 2005, integrated business structure into three major business units: Food Business Units (Farm/Marine/Livestock business); Consumer Products Business Unit (Apparel, Housing, Building Materials business) and Industrial Business Unit (Materials, Chemical, Machinery & Electronics).  Operates 23 overseas JV enterprises/affiliates. 

           

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2011 fiscal term amounted to Yen 85,496 million, a 9% up from Yen 78,477 million in the previous term.  The recurring profit was posted at Yen 938 million and the net profit at Yen 542 million, respectively, compared with Yen 214 million recurring profit and Yen 79 million net profit, respectively, a year ago.

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 940 million and the net profit at Yen 550 million, respectively, on a 3% rise in turnover, to Yen 88,000 million.

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 926.6 million, on 30 days normal terms. 

 

 

 

 

 

 

 

REGISTRATION

 

Date Registered: Jun 1976

Regd No.:          (Osaka-Chuoku) 074101

Legal Status:       Limited Company (Kabushiki Kaisha)

Authorized:          8 million shares

Issued:                2 million shares

Sum:                  Yen 2,500 million

Major shareholders (%): Nomura Trading Holdings Co Ltd*(100)

 

*.. Holding company, founded 2002, at the caption address, capital Yen 10 million, sales Yen 94,011 million, recurring profit Yen 1,095 million, net profit Yen 796 million, total assets Yen 29,097 million, net worth Yen 4,246 million, employees 900, pres Katsushige Miyashita, concurrently

Consolidated Financials are attached (See SUPPLEMENTS)

 

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

 

 

OPERATION

 

Activities: Imports, exports and wholesales foods, consumer goods, industrial machinery & materials, others:

(Sales breakdown by divisions):

 

Food Business Unit (44%): Agricultural products (coffee beans, grains, edible oils, spices,             preparation with cocoa, sugar, milk), Marine products (mackerel, capelin, horse mackerel, herring, salmon, other), Animal products (meat, sausages, hams, other meat products), Wellness goods (medical materials, health foods, food additives, collagen, placenta, pet foods);

Consumer Products Unit (10%): Apparel (garments for men & women, kids wear, young casual wear, sports wear, brands goods). Household goods (bedding, furniture, home appliances, kitchen utensils, brand name ceramics, plywood, jointed wood, lumber, home improvement store materials, office furniture), Building materials (construction materials, interior fixtures, wood floor materials);

Industrial business Unit (45%): machine tools, plastic injection molding machines, knockdown parts for gasoline dispensing pumps, wind power generators, environmental equipments, inspection machines for mobile phones & LCD displays, elastomers, iron ore, cement clinker, blast furnace slag, zinc powder, mercury, manganese, plastics, dye pigments, other,

Others (1%).

Overseas Trading Ratio (90%): Asia 65%; other regions 25% 

 

Clients: [Meat packers, food processors, wholesalers] Nippon Meat Packers, Key Coffee, Nippon    Crown Corp, Food Agency, Meiji Seika, Takeda Kirin Foods, Osaka Uoichiba, Hasec, Murachiku Co, other

No. of accounts: 2,000

Domestic areas of activities: Nationwide

Suppliers: [Chemical mfrs, wholesalers] Tosoh Corp, Sumitomo Metal Ind, Ube Ind, Mitsubishi Heavy Ind, Clayton Polymer Japan, Aron Kasei Murachiku, Denki Kagaku Kogyo, Brother Sales, other.

 

Payment record: No complaints

 

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

Bank References:

Resona Bank (Ohtemachi)

Mizuho Bank (Yaesuguchi)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

88,000

85,497

78,478

88,772

Recur. Profit

　

940

938

214

254

Net Profit

　

550

543

79

160

Total Assets

　

　

28,152

28,578

27,787

Current Assets

　

　

25,911

25,951

24,900

Current Liabs

　

　

23,479

24,115

22,999

Net Worth

　

　

3,769

3,349

3,380

Capital, Paid-Up

　

　

2,500

2,500

2,500

Div.P.Share(¥)

　

　

410.00

1,108.00

3,194.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.93

8.94

-11.60

8.48

    Current Ratio

 

..

110.36

107.61

108.27

    N.Worth Ratio

..

13.39

11.72

12.16

    R.Profit/Sales

 

1.07

1.10

0.27

0.29

    N.Profit/Sales

0.63

0.64

0.10

0.18

    Return On Equity

..

14.41

2.36

4.73

 Notes: Forecast figures for the 31/03/2012 fiscal term

 

SUPPLEMENTS

 

CONSOLIDATED FINANCIALS OF THE PARENT, NOMURA TRADING HOLDINGS CO LTD

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2011

31/03/2010

INCOME STATEMENT

 

 

 

  Annual Sales

　

94,011

86,898

 

  Cost of Sales

88,526

82,079

 

      GROSS PROFIT

5,484

4,818

 

  Selling & Adm Costs

4,297

4,233

 

      OPERATING PROFIT

1,187

585

 

  Non-Operating P/L

-92

-106

 

      RECURRING PROFIT

1,095

479

　

      NET PROFIT

796

270

BALANCE SHEET

 

 

 

 

  Cash

　

3,619

3,904

 

  Receivables

 

13,985

13,541

 

  Inventory

 

8,864

9,025

 

  Securities, Marketable

　

　

 

  Other Current Assets

740

813

 

      TOTAL CURRENT ASSETS

27,208

27,283

 

  Property & Equipment

219

327

 

  Intangibles

 

51

87

 

  Investments, Other Fixed Assets

1,619

1,702

 

      TOTAL ASSETS

29,097

29,399

 

  Payables

 

14,443

14,255

 

  Short-Term Bank Loans

6,506

7,054

 

　

 

　

　

 

  Other Current Liabs

2,985

3,164

 

      TOTAL CURRENT LIABS

23,934

24,473

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

40

160

 

  Reserve for Retirement Allw

666

715

 

  Other Debts

　

210

250

 

      TOTAL LIABILITIES

24,850

25,598

 

      MINORITY INTERESTS

 

 

 

Common stock

10

10

 

Additional paid-in capital

2

2

 

Retained earnings

4,057

3,572

 

Evaluation p/l on investments/securities

(18)

31

 

Others

 

195

186

 

Treasury stock, at cost

　

　

 

      TOTAL S/HOLDERS` EQUITY

4,246

3,801

　

      TOTAL EQUITIES

29,097

29,399

ANALYTICAL RATIOS            Terms ending:

31/03/2011

31/03/2010

 

 

Net Worth (S/Holders' Equity)

4,246

3,801

 

 

Current Ratio (%)

113.68

111.48

 

 

Net Worth Ratio (%)

14.59

12.93

 

 

Recurring Profit Ratio (%)

1.16

0.55

 

 

Net Profit Ratio (%)

0.85

0.31

 

 

Return On Equity (%)

18.75

7.10

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.30

UK Pound

1

Rs.81.36

Euro

1

Rs.67.97

 

 

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.