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Report Date : |
23.05.2012 |
IDENTIFICATION DETAILS
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Name : |
SUNFCO LTD |
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Registered Office : |
Kanda 91 Bldg
8F, 1-8-3 Kanda-Kajicho Chiyodaku |
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Country : |
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Financials (as on) : |
28.02.2012 |
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Date of Incorporation : |
March
1979 |
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Com. Reg. No.: |
0100-01-045246
(Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of raw materials for food, dairy
& medical products |
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No. of Employees : |
26 |
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) |
|
|
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 |
SUNFCO LTD
KK Sunfco
Kanda 91 Bldg 8F,
1-8-3 Kanda-Kajicho Chiyodaku Tokyo 101-0044 JAPAN
Tel:
03-3255-2460 Fax: 03-3255-0787
URL: http://www.sunfco.com
E-Mail address: osaka@sunfco.com
Import, export, wholesale of raw materials for food, dairy & medical products
Osaka
Brisbane
(Australia)
YUSUKE
MIYAZAKI, PRES
Minoru Hayashi, dir
Eiji
Takahashi, dir
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 7,141 M
PAYMENTS No
Complaints CAPITAL Yen 50 M
TREND SLOW WORTH Yen 429 M
STARTED 1979 EMPLOYES 26
TRADING HOUSE OF RAW MATERIALS FOR FOOD, DAIRY, CHEMICAL,
OTHERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established by capital investments
of Morinaga Milk Industry Co Ltd,
Taiyo Kagaku Co Ltd and Kaei Trading Co Ltd (See REGISTRATION) as Sun Friend Chemical Ltd, in order to supply &
develop raw materials & ingredients, products for food, medical, biotech, chemical, health
food products. Renamed as captioned in
Sept 1989. This is a trading firm for
import, export and wholesale of these raw materials and ingredients. Has 5 divisions: Foodstuffs; Pharmaceutical
products; Biochemical products; Health foods; Chemical products and Equipment
(See OPERATION). Clients include major dairy products mfrs, wholesalers, other, nationwide.
The sales volume for Feb/2011 fiscal term amounted to Yen 7,141 million, a 14% down from Yen 8,318 million in the previous term. Demand revived, but exports were hurt by the appreciation of the Yen, reducing earnings & profits in Yen terms. The recurring profit was posted at Yen 66 million and the net profit at Yen 38 million, respectively, compared with Yen 33 million recurring profit and Yen 1 million net profit, respectively, a year ago.
For the term that ended Feb 2012 the recurring profit was projected at Yen 70 million and the net profit at Yen 40 million, respectively, on a 3% rise in turnover, to Yen 7,350 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar 1979
Regd No.: 0100-01-045246 (Tokyo-Chiyodaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
400,000 shares
Issued:
100,000 shares
Sum: Yen 50
million
Major shareholders (%): Morinaga Milk Industry Co Ltd* (45), Taiyo Kagaku Co Ltd** (45), Ehime Beverage Inc (10).
No. of shareholders: 3
*.. Morinaga Milk Industry Co Ltd, mfr of dairy products, Tokyo, founded 1949, listed Tokyo, Osaka S/E’s, capital Yen 21,704 million, turnover Yen 578,229 million, recurring profit Yen 13,187 million, net profit Yen 4,608 million, total assets Yen 366,190 million, net worth Yen 113,935 million, employees 5,684, pres Koichi Furukawa
**..Taiyo Kagaku Co Ltd, mfr of chemicals, foods & pharmaceutical intermediates, Mie-Pref, founded 1948, listed Nagoya S/E (Second section), capital Yen 7,730 million, turnover Yen 33,571 million, recurring profit Yen 2,422 million, net profit Yen 1,297 million, total assets Yen 35,313 million, net worth Yen 27,384 million, employees 1,153, pres Nagahiro Yamazaki
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Imports, exports and wholesales raw materials & intermediates for food, chemical, biochemical, pharmaceuticals, health foods products (--100%).
(Handling products by
divisions):
Foodstuffs Div:
(Dairy products) butter, cheese, milk powder, whey powder, fermented milk, caramel powder; (Imported & preparation): milk preparation, coffee preparation, cocoa preparation, egg preparation, vanilla preparation, cheese powder;
(Imported skim milk powder preparation): vegetable oil type, dextrin type, flavored type; (Raw materials): edible oil & fat, processed egg products, vegetables, fruits, fruit juice, lactose, milk protein; (Food additives): emulsion stabilizer, vitamins, minerals, food dye, flavors.
Pharmaceutical Products Div: raw materials & additives for pharmaceuticals, raw materials & additives for quasi-drugs.
Biochemical products Div: biotechnological test agents, diagnostic products (anti-gens, antibodies, antiserums).
Health Foods Div: Materials for functional foods (lactoferrin, lactolose, lactobacillus, bihidobacteria); Materials for health foods (vegetable powder, fruits powder, extractive powder); Planning, sales & outsourced production of functional foods;
Chemical Products Div: cosmetics minerals, industrial chemical products materials (glycerin, caustic soda, activated carbon); water/oil repellent agents, cryoprotectant (CMA) & spreader;
Equipment Div: Packaging & packaging devices, micro filters (production line filters, air filters); electrolyzed water production unit (Purester).
Clients: [Dairy food mfrs, pharmaceuticals mfrs, wholesalers] Morinaga Milk Ind, Taiyo Kagaku, Itoham Foods, Daicel Chemical Ind, Eisai Co, Zeria Pharmaceutical, Toray Ind, Honen Corporation, Nisshin Seifun Group, Mitsubishi Chemical, Lion Corp, Yakult Honsha, DHC, Taisho Pharmaceuticals, Noevir Co, MK Cheese, Kajiwara Milk Products, Nichi-Iko Pharmaceutical Co, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Taiyo Kagaku, Morinaga Milk Ind, Meggle Japan, Ikeda Yakuhin Kogyo, DNP Fine Chemical, other.
(Overseas): Burra Foods Pty, Schering AG, Francexpa SA, Bllantyne Foods Pty, Biodesign International Inc, Biospecific Inc, Fitzgerald International Inc, OEM Concepts Inc, Lampire Biological Laboratories Inc, Scantibodies Laboratories Inc, other.
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(H/O)
Mizuho
Bank (Kanda-Ekimae)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
29/02/2012 |
28/02/2011 |
28/02/2010 |
28/02/2009 |
|
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Annual
Sales |
|
7,350 |
7,141 |
8,318 |
10,285 |
|
Recur.
Profit |
|
70 |
66 |
33 |
106 |
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Net
Profit |
|
40 |
38 |
1 |
62 |
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Total
Assets |
|
|
2,957 |
3,006 |
3,756 |
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Current
Assets |
|
|
2,769 |
2,808 |
3,584 |
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Current
Liabs |
|
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2,510 |
2,592 |
3,352 |
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Net
Worth |
|
|
429 |
398 |
392 |
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Capital,
Paid-Up |
|
|
50 |
50 |
50 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.93 |
-14.15 |
-19.12 |
4.25 |
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Current Ratio |
|
.. |
110.32 |
108.33 |
106.92 |
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N.Worth Ratio |
.. |
14.51 |
13.24 |
10.44 |
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R.Profit/Sales |
|
0.95 |
0.92 |
0.40 |
1.03 |
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N.Profit/Sales |
0.54 |
0.53 |
0.01 |
0.60 |
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Return On Equity |
.. |
8.86 |
0.25 |
15.82 |
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Note:
Forecast (or estimated) for the 28/02/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
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UK Pound |
1 |
Rs.86.84 |
|
Euro |
1 |
Rs.70.21 |
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.