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Report Date : |
21.02.2013 |
IDENTIFICATION DETAILS
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Name : |
TOKAI DENPUN CO LTD |
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Registered Office : |
24-15 Tenmacho Aoiku Shizuoka 420-0858 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
August 1947 |
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Com. Reg. No.: |
0800-01-003502 (Shizuoka-Aoiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of farm, livestock, & marine products |
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No. of Employees : |
901 |
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 |
COMPANY NAME AND ADDRESS
TOKAI DENPUN CO LTD
REGD NAME: Tokai
Denpun KK
MAIN OFFICE: 24-15
Tenmacho Aoiku Shizuoka 420-0858 JAPAN
Tel:
054-253-0934 Fax: 054-253-8053
URL: http://www.tdc-net.co.jp/
E-Mail address: info@tdc-net.co.jp
ACTIVITIES: Import,
export, wholesale of farm, livestock, & marine products
BRANCHES: Tokyo, Sapporo, Sendai, Fukushima, Saitama, Chiba,
Gunma, Niigata, Nagano, Kyoto, Nagoya, Osaka, Okayama, Hiroshima, Fukuoka,
other (Tot 59 including agents)
OVERSEAS: Thailand
(2), China (5), Hong Kong, Taiwan, USA (2) (--subsidiaries);
India, Vietnam,
other (--rep offices). (Tot 13)
OFFICER(S): TOSHIAKI
MASUDA, PRES Kenji Jinno, ch Kenji
Mori, dir Yoshihiro
Mochizuki, dir
Yoshio Okura, dir Ikuo Minami,
dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 123,230 M
PAYMENTS REGULAR CAPITAL Yen 781 M
TREND UP WORTH Yen 29,368 M
STARTED 1947 EMPLOYES 901
COMMENT: TRADING
FIRM SPECIALIZING IN FARM, MARINE, LIVESTOCK PRODUCTS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 6,357.5 MILLION, 30 DAYS
NORMAL TERMS
HIGHLIGHTS:
The subject
company was established by Jinno family as a wholesaler of starch originally,
and has since diversified into various other areas in agricultural, marine and
livestock products. Top ranked trader in
Shizuoka-Pref in this specific business line.
Imports and exports a variety of items (see OPERATION) from and to China, Thailand, Taiwan, other S/E Asian
countries, USA, other. Domestic clients
include food processors, frozen food dealers, meat packers, canned foods,
seafood processors, confectionery/bakery, beer breweries, fish farmers, etc,
nationwide. Fish farm division was
separated to be an independent subsidiary, Tokai Sea Pro KK.
FINANCIAL INFORMATION:
The sales volume for Jun/2012 fiscal
term amounted to Yen 123,230 million, a 3% up from Yen 119,977 million in the
previous term. Exports boosted. The recurring profit was posted at Yen 2,603
million and the net profit at Yen 1,481 million, respectively, compared with
Yen 1,667 million recurring profit and Yen236 million net profit, respectively,
a year ago.
For the current
term ending Jun 2013 the recurring profit is projected at Yen 2,650 million and
the net profit at Yen 1,500 million, respectively, on a 3% rise in turnover, to
Yen 127,000 million. Business is seen
steadily expanding.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 6,357.5
million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug
1947
Regd No.:
0800-01-003502 (Shizuoka-Aoiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 67 million shares
Issued: 18.49 million shares
Sum: Yen 781.81 million
Major
shareholders (%): Denpun Fudosan KK (12.0),
Employees’ S/Holding Assn (11.7), Denpun Shoji KK (6.7), Ajinomoto Co (5.9),
Kenji Jinno (4.0), Mizuho Bank (3.6)
No. of shareholders: 596
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION:
Activities: A trading house
specializing farm, marine, livestock products, others (sales breakdown by
divisions):
Agricultural
(Food) products (42%): corn starch, corn
flour, sugar, vegetables (fresh, frozen, dried), pickles, canned foods, rice,
barley, teas, cabbages, onions, fruits, flour, dried fruits, cashew nuts,
butter, cheese, fats, spices, food additives;
Marine
products (52%): octopus, squids, shrimps, cultured fishes, fish roes, sea weeds,
shellfish, eels (processed), fish paste, processed seafood, other;
Livestock
products (5%): pork, chicken, beef, hay, feeds, fertilizers, cow, other;
Others
(1%): food packaging materials, food processing equipment, medical materials,
chemicals, other.
Clients: [Food
processors, meat packers, wholesalers] Nippon Meat Packers, Ajinomoto Co, Daiei
Inc, Nichirei, Kibun Foods, Ajinomoto Frozen Foods Co, Nippon Meat Packers Inc,
Nippon Suisan Kaisha, Ichimasa Kamaboko Co, other.
No. of accounts:
1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Ajinomoto Co, Zen-Noh, Mercian, Hokuren Federation of Agricultural Coop, Hirose
Suisan, Ueno Fine Chemicals, other.
Imports from:
China, Taiwan, Thailand, USA, other
Payment record: Regular
Location: Business area in
Shizuoka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank
(Shizuoka)
Bank of Shizuoka
(H/O)
Relations:
Satisfactory
FINANCES:
(In
Million Yen)
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Terms Ending: |
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
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Annual
Sales |
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127,000 |
123,230 |
119,977 |
111,105 |
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Recur.
Profit |
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2,650 |
2,603 |
1,667 |
398 |
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Net
Profit |
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1,500 |
1,481 |
236 |
196 |
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Total
Assets |
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44,135 |
39,916 |
41,591 |
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Current
Assets |
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39,328 |
34,674 |
35,982 |
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Current
Liabs |
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13,602 |
10,060 |
11,058 |
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Net
Worth |
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29,368 |
28,119 |
28,583 |
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Capital,
Paid-Up |
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781 |
781 |
781 |
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Div.P.Share(¥) |
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15.00 |
15.00 |
15.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.06 |
2.71 |
7.99 |
-5.38 |
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Current Ratio |
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.. |
289.13 |
344.67 |
325.39 |
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N.Worth Ratio |
.. |
66.54 |
70.45 |
68.72 |
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R.Profit/Sales |
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2.09 |
2.11 |
1.39 |
0.36 |
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N.Profit/Sales |
1.18 |
1.20 |
0.20 |
0.18 |
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Return On Equity |
.. |
5.04 |
0.84 |
0.69 |
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Notes: Forecast (or estimated) figures for
the 30/06/2013 fiscal term
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.