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Report Date : |
26.10.2012 |
IDENTIFICATION DETAILS
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Name : |
TOKAN BOEKI CO LTD |
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Registered Office : |
Sakaeya Bldg 3F, 4-5-6 Akasaka Minatoku |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
May 1962 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of fish
(frozen, chilled, raw, dried) |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
JAPAN - ECONOMIC OVERVIEW
In the years following World War II,
government-industry cooperation, a strong work ethic, mastery of high technology,
and a comparatively small defense allocation (1% of GDP) helped Japan develop a
technologically advanced economy. Two notable characteristics of the post-war
economy were the close interlocking structures of manufacturers, suppliers, and
distributors, known as keiretsu, and the guarantee of lifetime employment for a
substantial portion of the urban labor force. Both features are now eroding
under the dual pressures of global competition and domestic demographic change.
Japan's industrial sector is heavily dependent on imported raw materials and
fuels. A tiny agricultural sector is highly subsidized and protected, with crop
yields among the highest in the world. Usually self-sufficient in rice, Japan
imports about 60% of its food on a caloric basis. Japan maintains one of the
world's largest fishing fleets and accounts for nearly 15% of the global catch.
For three decades, overall real economic growth had been spectacular - a 10%
average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s.
Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of
the after effects of inefficient investment and an asset price bubble in the
late 1980s that required a protracted period of time for firms to reduce excess
debt, capital, and labor. Measured on a purchasing power parity (PPP) basis
that adjusts for price differences, Japan in 2011 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001,
and third-place India, which edged out Japan in 2011. A sharp downturn in
business investment and global demand for Japan's exports in late 2008 pushed
Japan further into recession. Government stimulus spending helped the economy
recover in late 2009 and 2010, but the economy contracted again in 2011 as the
massive 9.0 magnitude earthquake in March disrupted manufacturing. Electricity
supplies remain tight because Japan has temporarily shut down almost all of its
nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled
by the earthquake and resulting tsunami. Estimates of the direct costs of the
damage - rebuilding homes, factories, and infrastructure - range from $235
billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister
Yoshihiko NODA has proposed opening the agricultural and services sectors to
greater foreign competition and boosting exports through membership in the
US-led Trans-Pacific Partnership trade talks and by pursuing free-trade
agreements with the EU and others, but debate continues on restructuring the
economy and reining in Japan's huge government debt, which exceeds 200% of GDP.
Persistent deflation, reliance on exports to drive growth, and an aging and
shrinking population are other major long-term challenges for the economy
|
Source
: CIA |
TOKAN BOEKI CO LTD
REGD NAME: Tokan
Boeki KK
MAIN OFFICE: Sakaeya
Bldg 3F, 4-5-6 Akasaka Minatoku Tokyo 107-0052 JAPAN
Tel: 03-5545-0772
Fax: 03-5545-0774
URL: N/A
Import,
wholesale of fish (frozen, chilled, raw, dried)
Nil
HISASHI
ISHIZUE, PRES
Kazumi
Suga, dir
Jun
Otani, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 644 M
PAYMENTS Slow
but correct CAPITAL Yen 10 M
TREND SLOW WORTH Yen
78 M
STARTED 1962 EMPLOYES 2
TRADING FIRM SPECIALIZING IN FISH & PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Takeshi Otani (the biggest shareholder of the firm)
in order to make most of his experience in the subject line of business. This is a trading firm for import and
wholesale of fish & fishery products.
Products are imported mainly from China, other. Clients are major fishery firms, among which
Kyokuyo Co Ltd* is the biggest.
Financials
are only partially disclosed.
The sales volume for Dec/2011
fiscal term amounted to Yen 644 million, an 18% down from Yen 785 million in
the previous term. The sales were
largely affected by the Great East Japan Earthquake in the first half of the
term. The net profit was posted at Yen 1
million, compared with Yen 1 million net loss a year ago.
For the
current term ending Dec 2012 the net profit is projected at Yen 1 million, on a
4% rise in turnover, to Yen 670 million.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements.
Date Registered: May
1962
Regd No.: 0104-01-031626 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
80,000 shares
Issued:
20,000 shares
Sum: Yen 10 million
Major shareholders (%): Takeshi Otani (50), Hisashi
Ishizue (23), Kazumi Suga (23), Kyokuyo Co (4)
*.. Kyokuyo Co Ltd. Fourth
largest in seafood industry, Tokyo, founded 1937, listed Tokyo S/E, capital Yen
5,664 million, sales Yen 181,885 million, operating profit Yen 1,636 million,
recurring profit Yen 1,707 million, net profit Yen 423 million, total assets
Yen 84,490 million, net worth Yen 16,616 million, employees 2,519, pres Hisaki
Tada
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION:
Activities: Imports and wholesales fish &
fishery products (--100%)
Clients: [Mfrs, wholesalers] Kyokuyo Co Ltd,
other
No. of
accounts: 50
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from
China, other.
Domestically supplied from Kyokuyo
Co, Yanako New Science Inc, other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Bank
of Yokohama (Tokyo)
Resona
Bank (Tokyo)
Relations:
Satisfactory
(In Million Yen)
|
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31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Annual
Sales |
|
670 |
644 |
785 |
523 |
|
Recur.
Profit |
|
|
|
|
|
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Net
Profit |
|
3 |
1 |
-1 |
1 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
78 |
77 |
78 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
4.04 |
-17.96 |
50.10 |
-14.68 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
0.45 |
0.16 |
-0.13 |
0.19 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.63 |
|
|
1 |
Rs.86.17 |
|
Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
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 |
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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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.