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Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
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Name : |
CHAMPION SEAFOODS CO LTD |
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Registered Office : |
1726-1 Ohshima Yaizu Shizuoka-Pref
425-0066 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
July 1994 |
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Com. Reg. No.: |
0800-01-015614
(Shizuoka-Yaizu) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of tuna,
bonito, seafoods |
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No. of Employees : |
25 |
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 small agricultural sector is highly subsidized and
protected, with crop yields among the highest in the world. While
self-sufficient in rice production, Japan imports about 60% of its food on a
caloric basis. 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. Modest economic growth continued after
2000, but the economy has fallen into recession three times since 2008. A sharp
downturn in business investment and global demand for Japan's exports in late
2008 pushed Japan 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 and the ensuing tsunami in March
disrupted manufacturing. The economy has largely recovered in the two years
since the disaster, but reconstruction in the Tohoku region has been uneven.
Newly-elected Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has pledged to reconsider his predecessor's plan
to permanently close nuclear power plants and is pursuing an economic
revitalization agenda of fiscal stimulus and regulatory reform and has said he
will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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 |
CHAMPION SEAFOODS CO LTD
KK Champion
Seafoods
1726-1 Ohshima
Yaizu Shizuoka-Pref 425-0066 JAPAN
Tel:
054-656-1222
Fax: 054-656-1223
URL: http://www.champion-sf.co.jp
E-Mail address: kundu@champion-sf.co.jp
Import,
wholesale of tuna, bonito, seafoods
Nil
TAKESHI
NAKATSUKA, PRES
Hideko
Nakatsuka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,700 M
PAYMENTS Slow
but Correct CAPITAL Yen 10 M
TREND SLOW WORTH Yen 48 M
STARTED 1994 EMPLOYES 25
TRADING FIRM SPECIALIZING IN FISH, FISH PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS, BUT DOUBTFUL FOR CREDIT US$10,000,000
The subject company was established by Takeshi Nakatsuka in order to make most of his experience in the subject line of business. This is a family-based trading firm for import and wholesale of tuna, bonito, spear fish, other. Cooked seafoods are exported to Korea, other
Financials are only partially disclosed as is the case with family-based companies.
The sales volume for Mar/2012 fiscal term amounted to Yen 2,700 million, a similar amount in the previous term. The net profit was posted at Yen 2 million, compared with Yen 10 million a year ago.
For the term that ended Mar 2013 the net profit was projected at Yen 3 million, on a 2% rise in turnover, to Yen 2,750 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements. The proposed amount is considered TOO HIGH from the recent financial status.
Date Registered: Jul 1994
Regd No.: 0800-01-015614 (Shizuoka-Yaizu)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Takeshi Nakatsuka (70), Hideko
Nakatsuka, Masaru Nakatsuka (--30)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales tuna (frozen), bonito, spear fish, other (--100%)
Clients: [Mfrs,
wholesalers] Okura Co, Maruichi Co Ltd, other
Exports to Korea, other
No. of accounts: 100
Domestic areas of activities:
Centered in Shizuoka-Pref
Suppliers: [Mfrs,
wholesalers] Maruiri Food Supply, Hamamatsu Gyorui, Tohto Suisan Co, other
Payment record: Slow but
Correct
Location:
Business area in Yaizu City, Shizuoka-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
Shizuoka
Bank (Yaizu-Minami)
SMBC
(Shizuoka)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
|
2,750 |
2,700 |
2,700 |
2,073 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
3 |
2 |
10 |
1 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
48 |
46 |
36 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
1.85 |
0.00 |
30.25 |
3.65 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
0.11 |
0.07 |
0.37 |
0.05 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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 |
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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 |
|
---- |
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.