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Report Date : |
26.12.2013 |
IDENTIFICATION DETAILS
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Name : |
FUTABA SEED CO LTD |
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Registered Office : |
871 Takahira-Ozato Nanjyo City
Okinawa-Pref 901-1205 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2013 |
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Date of Incorporation : |
June 1984 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesaler and retailer
of vegetable/flower seeds & seedlings, gardening supply and tools |
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No. of Employees : |
17 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 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 |
FUTABA SEED CO LTD
YK Futabe Shubyo
Oroshibu
871 Takahira-Ozato
Nanjyo City Okinawa-Pref 901-1205 JAPAN
Tel:
098-963-6011 Fax: 098-963-6012
URL: http://www.futabaseed.co.jp
E-Mail address: (thru the URL)
Wholesale,
retail of vegetable/flower seeds & seedlings
At the
caption address (Store)
JUNICHIRO
TANIGUCHI, PRES
Kei Taniguchi,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 706 M
PAYMENTSSlow but Correct CAPITAL Yen
8 M
TREND SLOW WORTH Yen 290 M
STARTED 1984 EMPLOYES 17
WHOLESALE, RETAIL OF VEGETABLE SEEDS/SEEDLINGS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Hironobu Taniguchi in order to
make most of his experience in the subject line of business. This is a specialized trader of
seed/seedlings for vegetables, flowers, other.
Also handles gardening tools & supplies. Goods are sole online, too.
Financials are only partially disclosed.
The sales volume for May/2013 fiscal term amounted to Yen 706 million, a
3% down from Yen 727 million in the previous term. The net profit was posted at Yen 36 million,
compared with Yen 33 million a year ago.
For the current term ending May/2014 the
net profit is projected at Yen 40 million, on a 3% rise in turnover, to
yen 730 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun 1984
Legal Status:
Private Limited Company (Yugen Kaisha)
Authorized: 640
shares
Issued:
160 shares
Sum: Yen 8 million
Major shareholders (%): Hironobu Taniguchi & families
(--100)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Wholesales and
retails vegetable/flower seeds & seedlings, gardening supply and tools
(--100%) Goods are sold online, too and
mail-order systems.
Clients: [Mfrs,
wholesalers] Sakata No Tane, Murakami Seed, Southern Plant, Okinawa-Pref
Agriculture Coops, other.
No. of accounts: 300
Domestic areas of
activities: Limited in Okinawa-Pref
Suppliers: [Mfrs,
wholesalers] Sakatano Tane, Takii Shubyo, other
Payment record: Slow but Correct
Location:
Business area in Okinawa. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Bank
of OkinawaHaebaru-cho)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/05/2014 |
31/05/2013 |
31/05/2012 |
31/02/2011 |
|
Annual
Sales |
|
730 |
706 |
727 |
606 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
40 |
36 |
33 |
12 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
290 |
254 |
221 |
|
Capital,
Paid-Up |
|
|
8 |
8 |
8 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.40 |
-2.89 |
19.97 |
8.60 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
5.48 |
5.10 |
4.54 |
1.98 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/05/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
UK Pound |
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.84.65 |
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.