MIRA
INFORM REPORT
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Report Date : |
09.04.2013 |
IDENTIFICATION DETAILS
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Name : |
NIPPON SUISAN KAISHA, LTD. |
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Registered Office : |
10F, Nippon Bldg., 2-6-2, Ote-machi, Chiyoda-Ku, 100-8686 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
31.03.1943 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is engaged in marine and food product businesses |
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No. of Employees : |
10513 |
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 : |
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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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.
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Source : CIA |
Company name & address
NIPPON SUISAN
KAISHA, LTD.
10F, Nippon Bldg., 2-6-2, Ote-machi
Chiyoda-Ku, 100-8686
Japan
Tel: 81-3-32447000
Fax: 81 (3) 3244-7085
Web: www.nissui.co.jp
Synthesis
Employees: 10,513
Company Type: Public
Parent
Corporate Family: 71
Companies
Traded: Tokyo
Stock Exchange: 1332
Incorporation Date:
31-Mar-1943
Auditor: Ernst & Young ShinNihon LLC
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2012
Reporting Currency: Japanese
Yen
Annual Sales: 6,813.9 1
Net Income: 25.4
Total Assets:
4,865.9 2
Market Value: 530.3
(29-Mar-2013)
Business Description
NIPPON SUISAN KAISHA, LTD. is a Japan-based company mainly engaged in marine and food product businesses. The Company operates in five business segments. The Marine Products segment is engaged in the fishing, aquaculture, processing and sale of marine products. The Food segment manufactures and sells processed food products such as frozen food products and common temperature food products, among others. The Fine segment manufactures and sells diagnostic agents, generic pharmaceuticals, pharmaceutical raw materials and health food. The Logistics segment is engaged in the cold storage of marine products, as well as the transportation of refrigerated cargo. The Others segment is engaged in the construction and repair of ships, as well as the marine transportation and engineering businesses. As of March 31, 2012, the Company had 75 subsidiaries and 32 associated companies. On January 28, 2013, the Company sold a 100% stake of EXPLOTATION PESQUERA DE LA PATAGONIA S.A. (PESPASA). For the nine months ended 31 December 2012, NIPPON SUISAN KAISHA, LTD. revenues increased 3% to Y422.56B. Net income applicable to common stockholders decreased 50% to Y2.24B. Revenues reflect Food Business segment increase from Y64.43B to Y200.2B, Marine Products Business segment increase from Y59.38B to Y172.99B, Other Businesses segment increase from Y3.83B to Y18.42B.
Industry
Industry Food Processing
ANZSIC 2006: 1140 - Fruit and
Vegetable Processing
NACE 2002: 1533 - Processing
and preserving of fruit and vegetables not elsewhere classified
NAICS 2002: 311412 - Frozen
Specialty Food Manufacturing
UK SIC 2003: 1533 - Processing and
preserving of fruit and vegetables not elsewhere classified
UK SIC 2007: 1039 - Other
processing and preserving of fruit and vegetables
US SIC 1987: 2038 - Frozen
Specialties, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Chief Executive Officer, Executive President, Chief Director of
Business Promotion (COO), Representative Director |
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Chief Financial Officer, Senior Managing Executive Officer,
Representative Director |
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Tomomi Kimura |
Executive Officer, Director of Fishery Sales |
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Motoyuki Kanaji |
Executive Officer, Director of Human Resources |
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Yoshihiro Ikama |
Section Chief 1st Legal Affairs in Legal Affairs Unit |
Significant Developments
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Topic |
#* |
Most Recent Headline |
Date |
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2 |
29-Jan-2013 |
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1 |
22-Mar-2013 |
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1 |
Nippon
Suisan Kaisha, Ltd. Expects Extraordinary Loss for FY 2012 |
15-May-2012 |
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1 |
5-Nov-2012 |
* number of significant developments within the last 12 months
News
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Title |
Date |
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Tokyo Stock
Exchange: closing price list -6- |
8-Apr-2013 |
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Tokyo Stock
Exchange: morning price list -6- |
7-Apr-2013 |
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Tokyo Stock
Exchange: closing price list -6- |
5-Apr-2013 |
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Tokyo Stock
Exchange: morning price list -6- |
4-Apr-2013 |
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Tokyo Stock
Exchange: closing price list -6- |
3-Apr-2013 |
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Tokyo Stock
Exchange: morning price list -6- |
2-Apr-2013 |
Financial Summary
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Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 78.96121
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 82.38536
Corporate Overview
Location
10F, Nippon Bldg., 2-6-2, Ote-machi
Chiyoda-Ku, 100-8686
Japan
Tel: 81-3-32447000
Fax: 81 (3) 3244-7085
Web: www.nissui.co.jp
Quote Symbol - Exchange
1332 - Tokyo Stock
Exchange
Sales JPY(mil): 538,030.0
Assets JPY(mil): 400,882.0
Employees: 10,513
Fiscal Year End: 31-Mar-2012
Industry: Food
Processing
Incorporation Date: 31-Mar-1943
Company Type: Public
Parent
Quoted Status: Quoted
Chief Executive
Officer, Executive President, Chief Director of Business Promotion (COO),
Representative Director:
Norio Hosomi
Industry Codes
ANZSIC 2006 Codes:
1140 - Fruit and Vegetable Processing
0419 - Other Fishing
2391 - Shipbuilding and Repair Services
1120 - Seafood Processing
5309 - Other Warehousing and Storage Services
1841 - Human Pharmaceutical and Medicinal Product Manufacturing
0414 - Fish Trawling, Seining and Netting
6923 - Engineering Design and Engineering Consulting Services
NACE 2002 Codes:
1533 - Processing and preserving of fruit and vegetables not
elsewhere classified
6312 - Storage and warehousing
3511 - Building and repairing of ships
2442 - Manufacture of pharmaceutical preparations
2441 - Manufacture of basic pharmaceutical products
0501 - Fishing
7420 - Architectural and engineering activities and related
technical consultancy
1520 - Processing and preserving of fish and fish products
NAICS 2002 Codes:
311412 - Frozen Specialty Food Manufacturing
336611 - Ship Building and Repairing
325412 - Pharmaceutical Preparation Manufacturing
114111 - Finfish Fishing
541330 - Engineering Services
114112 - Shellfish Fishing
493120 - Refrigerated Warehousing and Storage
311711 - Seafood Canning
325411 - Medicinal and Botanical Manufacturing
US SIC 1987:
2038 - Frozen Specialties, Not Elsewhere Classified
2834 - Pharmaceutical Preparations
4222 - Refrigerated Warehousing and Storage
2091 - Canned and Cured Fish and Seafoods
0913 - Shellfish
0912 - Finfish
8711 - Engineering Services
2833 - Medicinal Chemicals and Botanical Products
3731 - Ship Building and Repairing
UK SIC 2003:
1533 - Processing and preserving of fruit and vegetables not
elsewhere classified
1520 - Processing and preserving of fish and fish products
3511 - Building and repairing of ships
0501 - Fishing
74204 - Engineering consultative and design activities
63121 - Storage of frozen and refrigerated goods
2441 - Manufacture of basic pharmaceutical products
24421 - Manufacture of medicaments
UK SIC 2007:
1039 - Other processing and preserving of fruit and vegetables
3011 - Building of ships and floating structures
2110 - Manufacture of basic pharmaceutical products
0311 - Marine fishing
71129 - Other engineering activities (not including engineering
design for industrial process and production or engineering related scientific
and technical consulting activities)
2120 - Manufacture of pharmaceutical preparations
1020 - Processing and preserving of fish, crustaceans and molluscs
52103 - Operation of warehousing and storage facilities for land
transport activities of division 49
Business
Description
NIPPON SUISAN KAISHA,
LTD. is a Japan-based company mainly engaged in marine and food product
businesses. The Company operates in five business segments. The Marine Products
segment is engaged in the fishing, aquaculture, processing and sale of marine
products. The Food segment manufactures and sells processed food products such
as frozen food products and common temperature food products, among others. The
Fine segment manufactures and sells diagnostic agents, generic pharmaceuticals,
pharmaceutical raw materials and health food. The Logistics segment is engaged
in the cold storage of marine products, as well as the transportation of
refrigerated cargo. The Others segment is engaged in the construction and
repair of ships, as well as the marine transportation and engineering
businesses. As of March 31, 2012, the Company had 75 subsidiaries and 32
associated companies. On January 28, 2013, the Company sold a 100% stake of
EXPLOTATION PESQUERA DE LA PATAGONIA S.A. (PESPASA). For the nine months ended
31 December 2012, NIPPON SUISAN KAISHA, LTD. revenues increased 3% to Y422.56B.
Net income applicable to common stockholders decreased 50% to Y2.24B. Revenues
reflect Food Business segment increase from Y64.43B to Y200.2B, Marine Products
Business segment increase from Y59.38B to Y172.99B, Other Businesses segment
increase from Y3.83B to Y18.42B.
More Business
Descriptions
Fishing industry
dealing in fresh and frozen fish; frozen and canned food products; manufacture
of fish meal and oil; marine products including food supplements and vitamins;
ham, sausage and fish paste products
Seafood &
Frozen Food Products Mfr; Frozen Foods Refrigeration & Transportation;
Health Food & Pharmaceutical Mfr; Marine Transportation, Engineering, Ship
Construction & Repair
Nippon Suisan
Kaisha, Ltd. (Nissui) is a diversified company which focuses on the production
and distribution of fresh, processed and frozen sea food. Its vertical
integration operations include fishery, aquaculture, processing and sales of
marine foods. The company also offers services such as, building, repairing and
operating ships; and commercializing equipment and plant hardware used in the
processing segment.The company operates its business through five reportable
business segments, namely, Marine Products, Foods, Fine Chemicals, General
Distribution and Others.The Marine Products segment is the core business of the
company, which includes fishing, farming, purchasing, processing and selling of
marine products. Nissui also puts its efforts on aquaculture business to maintain
procurement and processing bases of natural marine resources worldwide so as to
meet the increase in global demand for marine resources. In South America,
Nissui established a vertically-integrated system for completing the whole
process from breeding of parent fish, spawning, aquaculture, to processing
through its own technologies.Further, the company manages the aquaculture of
black tiger shrimp in Indonesia, eel aquaculture in China and yellowtail and
Bluefin tuna aquaculture in Japan. For the fiscal year ended March 2012, the
Marine Products segment reported 35.4% of the company's total revenue,
indicating an increase of 18% over the previous year.The company’s Food
business segment manufactures and commercializes various products in Japan,
such as frozen prepared foods for household and commercial uses, canned and
bottled foods, fish sausage, chikuwa, and imitation crab and fish paste
products. It also offers ready-to-be-served food products. These products are
furnished to chilled foods companies that serve as vendors for convenience
stores. The Food business segment reported 45.6% of the company's total revenue
during the fiscal year 2012, reflecting an increase of 2% over the previous
year.The Fine Chemicals segment specializes in manufacturing and marketing of
diagnostic products, ordinary medicines and pharmaceutical and health
ingredients. The company and Mochida Pharmaceutical Co., Ltd. jointly developed
and commercialized high-purified EPA as pharmaceutical ingredients. It supplies
EPA/DHA refined for foods as nutritional products, food products such as baby
formula and supplements in Japan and in overseas markets like Western countries
and Asia. Nissui Pharmaceutical concentrates on dealing with natural
pharmaceutical products, supplements and diagnostic products. For the fiscal
year ended March 2012, the segment reported 4.5% of the company's total
revenue, indicating an increase of 4% over the previous year.The General
Distribution business segment offers cold storage of marine products and transportation
of frozen and refrigerated goods. It supports Marine Products Business and
Processed Food Business. This segment is further segmented into three
divisions, Cold Storage Business which comprises a network of cold storage
operations established over Japan; Third Party Logistics (3PL) business which
is entrusted to operate general distribution for mass merchandisers and the
food service industry; and International Marine Logistics business, which
supports the global supply chain of the Nissui Group. The General Distribution
business reported 3.3% of the company's total revenue during the fiscal year
2012, reflecting an increase of 5.9% over the previous year.The company’s
Other business is operated by Nissui Engineering which builds, repairs and
operates ships and sells equipment and plant hardware used in the processing
segment based on technologies and manpower. The General Distribution business
reported 3.3% of the company's total revenue during the fiscal year 2012,
indicating an increase of 5.3% over the previous year.Nissui categorized its
geographical operations into three reportable segments, namely, Japan, North
America and Others. Japan accounted for 74.6% of the company total revenue,
followed by Others (15.7%) and North America reported 9.7% of the company's
total revenue for the fiscal year ended March 2012.The company operates along
with its subsidiaries, namely, Hakata Marukita Suisan C., Ltd., Netuno
International S.A., Nordic Seafood A/S and others.
Nippon Suisan
Kaisha, Ltd. (Nissui) focuses on the production and distribution of fresh,
processed and frozen sea food. Its activities include farming, purchasing,
fishing, processing and sale of marine products. The company is also focuses on
building, repairing, freezing and transportation of frozen and refrigerated
goods. It manufactures and commercializes diagnostic medicines, ordinary
medicines, health foods and pharmaceutical materials. Nissui operates through
five reportable business segments, namely, Marine Products, Foods, Fine
Chemicals, General Distribution and Others. The company operates with the help
of 75 subsidiaries and 33 associated companies in Japan, Canada, New Zealand,
the Netherlands, Chile, Argentina, Thailand, China, France, Spain, Indonesia,
Vietnam, Singapore and the U.S. Nissui is headquartered in Tokyo, Japan.The
company's strategy is to develop new categories that respond to the changes of
the customers. It also intends to reinforce access to resources by adding
purchasing to the existing fishery and aquaculture businesses; and expanding
sales capacities in Japan and overseas.The company reported revenues of (Yen)
JPY 538,030.00 million during the fiscal year ended March 2012, an increase of
8.85% over 2011. The operating profit of the company was JPY 7,239.00 million
during the fiscal year 2012, an increase of 151.01% over 2011. The net profit
of the company was JPY 2,006.00 million during the fiscal year 2012, whereas
the company reported a net loss of JPY 917.00 million during 2011.
Founded in 1911,
Nippon Suisan Kaisha, also known as Nissui, is a producer of fresh and frozen
seafood products, including fish, fish oils and feeds. In addition to its
internal seafood operations, the company also various subsidiary business
units, including shelf-stable foods, chilled foods, fine chemicals, fine foods
operations, medicines, growth media, reagents for diagnostic tests, health
supplements, shipbuilding, ship-repair, ferry services, nautical machinery
manufacturing and physical plant production. Nissui's major subsidiaries
include Hohsui Corporation, Unisea, EMDEPES, Salmones Antartica, Seaload Group,
Nippo Shokuhin Kogyo, Nippon Cookery, Kyowa Technos, Fishking Processors,
Gorton's, Nissui Engineering, Nissui Marine Industries and Japan Marine
Business Enterprises. Nippon Suisan Kaisha maintains its corporate headquarters
in Tokyo.
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Helpful |
Harmful |
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Internal Origin |
Strengths |
Weaknesses |
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External Origin |
Opportunities |
Threats |
Overview
Nippon Suisan
Kaisha, Ltd. (Nissui) is a leading food manufacturer and processor in Japan.
Strong business growth and diverse business operations are its key strengths, even
as, increasing trade receivables remains a major area of concern. Rising
counterfeit goods market, highly competitive market, and global economic
scenario could have an adverse effect over Nissui’s business, operating
results and financial condition. However, growing ageing population and huge
potential in the emerging markets could present ample growth opportunities to
the company.
Strengths
Business Growth
The company
generated growth in its business despite of the challenging economic conditions
resulting from the Great East Japan Earthquake and certain movements at the end
of the fiscal year suggesting correction toward a weaker yen. Nissui recorded
sales ofJPY538.03 billion in 2012, indicating an increase of 8.8%, as compared
to JPY494.29 billion in 2011. This indicates that the company has generated
better business eventually increasing market share in the industry. Such
business growth has allowed the company to generated better profitability.
Diversified
Business Operations
The company’s diversified
business operations allow it to mitigate risk from low of underperformance of
one segment or geography with positive performance from another. Nissui
operates through five reportable business segments, namely, Marine Products,
Foods, Fine Chemicals, and General Distribution. Marine Products segment
includes fishing, aquaculture, purchasing, processing and selling of marine
products. The Foods segment produces and sells frozen food, shelf-stable foods,
and other processed foods. The company’s Fine Chemicals segment manufactures
and sells medical ingredients, health foods, diagnostic medicines, and general
pharmaceuticals. Nissui’s General Distribution includes the cold storage and
transportation of frozen and refrigerated goods that back up the above
businesses. In FY 2012, the company generated 48.2% of net sales from Foods
segment, 43.3% from Marine Products segment, 4.69% from Fine Chemicals, and
3.6% from General Distribution. Geographically, the company operates across
Japan, North America, and Others. In FY2012, Nissui generated 78.4% of net
sales from Japan, 10.8% from North America, and 10.8% from Others.
Excellent Research
and Development Facilities
In the kind of
operations the company is involved, research and development activities plays a
crucial role. The company's central research laboratory is involved in various
research activities. It has three laboratories, namely, Fishery Products
Research Group( does research on taste and characteristics of raw materials),
Aquaculture Fundamental Research Group( does research on developing fishless
feed for aquaculture) and Health Fundamental Research( does research on the
active ingredients contained in fish oils).Companies Food Safety Research
Center does food safety analysis such as analyzing residual pesticides and
heavy metal residual drug. The research center has also created kits and
manuals and setup a lab to train people. The Technology Development Center
promotes automation and energy saving measures to improve operational efficiency.
The Development Center is attached to all the production facilities of the
company's Foods, Marine Products and Fine Chemical businesses. The center also
enhances the performance of the technology by inspecting at production plants.
In addition, the newly launched Tokyo Innovation center in Hachioji, Tokyo will
fortify the research and development capabilities. The company's research and
development enhances the food safety, operational efficiency and enables to
introduce novel food products creating competitive advantage.
Weaknesses
Increasing Trade Receivables
The company’s
increasing accounts receivables affects its competitive and profitability
position. Nissui reported accounts receivables of JPY66.96 billion in 2012,
representing an increase of 5.3%, as compared to JPY63.5 billion in 2011,
indicating possible credit sales. The company under its operational process
entered into several factoring agreements with trade debtors as per the trade
settlements. Such increasing accounts receivable reflects inefficient credit
management by Nissui. In the backdrop of economic slowdown, the probability of
defaults by any of creditors may increase. This might impact the overall
financial position as well as profitability of the company.
Opportunities
Growing Ageing Population
The growing
population of people aged above 65 offers a huge opportunity for the company to
increase its revenues. The population aging rate, i.e. the share of people aged
65 and over in the total population, reached 23.3% in 2011. According to a
survey, people aged 65 years and above are expected to reach 25.6% by 2030 and
40% by 2050. This aged population spends more on health and nutritional
products compared to the younger generation. As the company offers various
pharmaceutical products and health materials made from active ingredients
extracted or refined from marine resources, to the consumers, it has the
opportunity to increase its sales in this segment, owing to the rising
percentage of old age people.
Huge Potential in
the Emerging Markets
Nissui could
benefit from expanding its business in emerging markets. According to the World
Bank, the global GDP is expected to grow at 3.5% in 2012. The prospects for
developing countries are better with a relatively robust recovery, likely to
grow 6.2% in 2012. Further, GDP in rich countries was 1.8% in 2010 and is
expected to increase 2.5% in 2012. Growth in the East Asia and Pacific region
(especially China) as well as South Asia (especially India) has been resilient.
China and India, with its huge population base and increasing per capita
income, has significant demand potential. It is expected that in future China
will maintain a double digit GDP growth rate and India’s GDP growth is
expected to be in the range of 6-8%. Economic growth, combined with old and
young population and low per capita consumption, could lead to increased demand
in the future. Additionally, factors like growing affluence, increasing
brand-consciousness and low penetration of organized retailers in these
countries make them attractive destinations for global retailers.
Threats
Rising Counterfeit Goods Market
The company’s
performance will be affected by the rising influx of counterfeited products in
the market, especially in the emerging countries. The growing market for
counterfeit goods has been on rise across industries and is affecting the sales
as well as the image of the established brands. The counterfeit goods are
expected to cross $2 trillion in sales by 2026. Such imitated goods in the
industry are eating into the market share of the branded products through their
low price offerings. Since the customers end up buying the counterfeited
products bearing the look-alike brand labels, low quality of these counterfeits
affects the consumer confidence and also tarnishes the brand image of the
genuine company. Particularly in the food business where the health is at risk
due to the adulterated stuff and continuous outbreak of diseases in animals, the
counterfeit stuff which comes without any safety measures will tarnish the
company's image. Thus, the company is prone to these challenges and any under
performance of the counterfeit products will have a major affect over its
fortunes.
Highly Competitive Market
The company
operates in marine and food markets, which are highly competitive. With the
entry of more new players in this market, the current level of competition is
expected to further intensify in the near future, which may result in price reductions.
The company competes with a broad range of food products which are manufactured
and distributed by companies with substantially greater financial, marketing
and distribution resources. The company competes with Ajinomoto Co., Inc.,
Kyokuyo Co., Ltd., Nichirei Corporation, Nippon Meat Packers, Inc., and Itoham
Foods Inc. If the company is not able to maintain the product quality and
consumer loyalty, this intense competition could reduce the sales volume of the
company, thereby hampering its market position.
Gloomy Economic Outlook: Japan
Japan's economic
growth declined in the second quarter of 2012 due to Eurozone crisis adversely
affected the exports and subdued domestic consumption. In the second quarter,
the country’s gross domestic product grew only 0.3% from the previous three
months. The economy expanded 1.4% in the corresponding period in 2011. It is
expected that, Japan’s growth may slow further in coming months amid an
uncertain global economic climate. Decline in the domestic demand and weak
exports due to fragile recovery in the US economy and Europe's debt crisis,
there is a possibility that the country’s economy will not make any progress
during the third quarter in 2012. A strong Japanese currency has made things
worse for the country's exporters by making their goods more expensive and
denting their profits. Japan’s household spending and private consumption
both rose only 0.1% during the second quarter, as compared to 1.2% in the first
quarter of 2012. Such gloomy economic conditions could adversely affect the
company’s business operations.
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Corporate
Family |
Corporate
Structure News: |
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NIPPON SUISAN KAISHA, LTD. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Chiyoda-Ku |
Japan |
Food Processing |
6,813.9 |
10,513 |
|
|
Subsidiary |
Tokyo |
Japan |
Food Processing |
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3,500 |
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Subsidiary |
Taito-Ku |
Japan |
Biotechnology and Drugs |
169.6 |
355 |
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Facility |
Chikusei, Ibaraki |
Japan |
Biotechnology and Drugs |
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Subsidiary |
Yokosuka, Kanagawa |
Japan |
Miscellaneous Transportation |
92.9 |
339 |
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Subsidiary |
Yokosuka, Kanagawa |
Japan |
Miscellaneous Transportation |
|
307 |
|
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Subsidiary |
Gloucester, MA |
United States |
Food Processing |
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300 |
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Subsidiary |
Brunswick, GA |
United States |
Food Processing |
|
350 |
|
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Branch |
Redmond, WA |
United States |
Food Processing |
40.0 |
100 |
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Subsidiary |
Cleveland, OH |
United States |
Food Processing |
0.9 |
40 |
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Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Food Processing |
|
100 |
|
|
Facility |
Kamisu, Ibaraki |
Japan |
Food Processing |
|
60 |
|
|
Subsidiary |
Redmond, WA |
United States |
Food Processing |
125.0 |
50 |
|
|
Subsidiary |
Fukuoka |
Japan |
Food Processing |
|
50 |
|
|
Subsidiary |
Nishimurayama-Gun, Yamagata |
Japan |
Food Processing |
61.5 |
49 |
|
|
Subsidiary |
Yokohama, Kanagawa |
Japan |
Recreational Products |
|
40 |
|
|
Subsidiary |
Sakaiminato, Tottori |
Japan |
Fish and Livestock |
|
30 |
|
|
Subsidiary |
Sakaiminato, Tottori |
Japan |
Food Processing |
41.7 |
16 |
|
|
Subsidiary |
Tokyo |
Japan |
Restaurants |
|
10 |
|
|
Subsidiary |
Singapore |
Singapore |
Food Processing |
87.9 |
7 |
|
|
Subsidiary |
Mito, Ibaraki |
Japan |
Food Processing |
34.7 |
6 |
|
|
Subsidiary |
Redmond, WA |
United States |
Food Processing |
|
6 |
|
|
Subsidiary |
Los Angeles, CA |
United States |
Food Processing |
|
350 |
|
|
Subsidiary |
Seattle, WA |
United States |
Food Processing |
3.4 |
215 |
|
|
Subsidiary |
Redmond, WA |
United States |
Food Processing |
|
42 |
|
|
Branch |
Dutch Harbor, AK |
United States |
Food Processing |
45.9 |
5,000 |
|
|
Branch |
Dutch Harbor, AK |
United States |
Hotels and Motels |
2.5 |
75 |
|
|
Subsidiary |
Gloucester, MA |
United States |
Food Processing |
|
25 |
|
|
Subsidiary |
Gloucester, MA |
United States |
Miscellaneous Transportation |
|
3 |
|
|
Subsidiary |
Niigata, Niigata |
Japan |
Food Processing |
251.4 |
|
|
|
Subsidiary |
Yokohama, Kanagawa |
Japan |
Miscellaneous Capital Goods |
197.2 |
|
|
|
Subsidiary |
Karatsu, Saga |
Japan |
Food Processing |
164.8 |
|
|
|
Subsidiary |
Funabashi, Chiba |
Japan |
Food Processing |
89.4 |
|
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Construction Services |
65.3 |
|
|
|
Subsidiary |
Kumamoto, Kumamoto |
Japan |
Food Processing |
38.7 |
|
|
|
Subsidiary |
Amstelveen |
Netherlands |
Miscellaneous Financial Services |
0.8 |
|
|
|
Subsidiary |
Kervignac |
France |
Food Processing |
|
374 |
|
|
Subsidiary |
Santiago |
Chile |
Food Processing |
|
|
|
|
Subsidiary |
Oita |
Japan |
Aerospace and Defense |
|
|
|
|
Subsidiary |
Nagasaki |
Japan |
Water Transportation |
|
|
|
|
Subsidiary |
Nagoya, Aichi |
Japan |
Miscellaneous Transportation |
|
|
|
|
Subsidiary |
Himeji, Hyogo |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Santiago |
Chile |
Food Processing |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Transportation |
|
|
|
|
Subsidiary |
Nagoya, Aichi |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Toyama |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Onomichi, Hiroshima |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Hiroshima |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Mitoyo, Kagawa |
Japan |
Food Processing |
|
|
|
|
Facility |
Anjo, Aichi |
Japan |
Food Processing |
|
|
|
|
Facility |
Himeji, Hyogo |
Japan |
Food Processing |
|
|
|
|
Facility |
Kitakyushu, Fukuoka |
Japan |
Food Processing |
|
|
|
|
Facility |
Tsukuba, Ibaraki |
Japan |
Chemical Manufacturing |
|
|
|
|
Facility |
Imari, Saga |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Kushiro, Hokkaido |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Sapporo, Hokkaido |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Kumamoto |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Engineering Consultants |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Food Processing |
149.4 |
17 |
|
|
Subsidiary |
Kagoshima |
Japan |
Fish and Livestock |
|
|
|
|
Subsidiary |
Kushima, Miyazaki |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Engineering Consultants |
|
|
|
|
Subsidiary |
Recife |
Brazil |
Fish and Livestock |
|
|
|
|
Subsidiary |
Santiago |
Chile |
Fish and Livestock |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Water Transportation |
|
|
|
|
Facility |
Tokyo |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Niigata |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Jakarta |
Indonesia |
Fish and Livestock |
|
|
|
|
Facility |
Hachioji, Tokyo |
Japan |
Food Processing |
|
|
Competitors Report
|
Company Name |
Location |
Employees |
Ownership |
|
Ajinomoto Co., Inc. |
Chuo-Ku, Japan |
28,245 |
Public |
|
Hayashikane Sangyo Co., Ltd. |
Shimonoseki-Shi, Japan |
599 |
Public |
|
ITOHAM FOODS INC. |
Nishinomiya-Shi, Japan |
5,308 |
Public |
|
KYOKUYO CO., LTD. |
Minato-Ku, Japan |
2,460 |
Public |
|
Nichirei Corp |
Chuo-Ku, Japan |
12,082 |
Public |
executive report
|
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Significant Developments
Nippon Suisan Kaisha Ltd Expects Extraordinary Loss for FY 2013; Amends Consolidated Full-year Forecast for FY 2013 Mar 22, 2013
Nippon Suisan Kaisha Ltd announced that it expects JPY 8,000 million extraordinary loss due to discontinuing of subsidiary's business for the fiscal year ending March 31, 2013. The Company has reaffirmed the consolidated full-year forecast for revenue of JPY 560,000 million, operating profit of JPY 6,000 million, ordinary profit of JPY 2,600 million and lowered the forecast for the net profit (loss) from JPY 0 million to JPY (6,000 million) and earning (loss) per share from JPY 0.00 to JPY (21.72) for the fiscal year ending March 31, 2013.
Nippon Suisan Kaisha Ltd Sells EXPLOTATION PESQUERA DE LA PATAGONIA S.A. (PESPASA) to PESQUERA VERAZ S.A. Jan 29, 2013
Nippon Suisan Kaisha Ltd announced that it has sold 136,287,892 shares of its common stock (a 100% stake), of EXPLOTATION PESQUERA DE LA PATAGONIA S.A. (PESPASA) to PESQUERA VERAZ S.A., for USD 100, on January 28, 2013.
Nippon Suisan Kaisha Ltd Lowers Consolidated Full-year Outlook for FY Ending March 2013; Cancels Midterm and Year-end Dividend Payment Plan for FY Ending March 2013 Nov 05, 2012
Nippon Suisan Kaisha Ltd announced that it has lowered its consolidated
full-year outlook for revenue from JPY 570,000 million to JPY 560,000 million,
operating profit from JPY 13,500 million to JPY 6,000 million, ordinary profit
from JPY 12,500 million to JPY 2,600 million, net profit from JPY 6,000 million
to JPY 0 million and earning per share from JPY 21.72 to JPY 0.00 for the
fiscal year ending March 31, 2013. This is due to the decreased sales of
aquatic products and food stuff businesses. According to I/B/E/S Estimates,
analysts on average are expecting the Company to report full-year revenue of
JPY 555.50 billion and net profit of JPY 4.63 billion. The Company also
announced that it has resolved to cancel its midterm and year-end dividend of
JPY 2.50 per share, which were announced on May 15, 2012, respectively, for the
fiscal year ending March 2013.
Nippon Suisan Kaisha Ltd's Subsidiary Lowers Stake in Sub-subsidiary Oct
29, 2012
Nippon Suisan Kaisha Ltd announced that its subsidiary, Nippon-Suisan America
Latina S.A. has sold 1,082,818 shares of Pesquera Friosur S.A.'s common stock,
which is a 30.01% stake, for CLP 4,806,192,000 in total, to Deris S.A.,
effective October 1, 2012. After this, Nippon-Suisan America Latina S.A. holds
a 20% stake in Pesquera Friosur S.A.
Nippon Suisan Kaisha, Ltd. Expects Extraordinary Loss for FY 2012 May
15, 2012
Nippon Suisan Kaisha, Ltd. announced that it is expecting an
extraordinary loss of JPY 7,608 million, including a loss of JPY 4,143 million
of business reorganization and a loss of JPY 1,696 million of depletion of
goodwill of subsidiary, and a loss of JPY 1,768 million, as loss in disposal of
fixed asset and evaluation of invested securities, for the fiscal year ended
March 2012.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.72 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.71.05 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.