|
Report Date : |
11.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHINMEI TIKUSAN CO LTD |
|
|
|
|
Registered Office : |
6-2-14 Chuocho Higashi-Kurume Saitama-Pref 203-0054 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
May, 1967 |
|
|
|
|
Com. Reg. No.: |
0127-01-003591 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Cattle Raising, Dairy Products, Beef, Pork, Fertilizer, Feedstuffs |
|
|
|
|
No. of Employees : |
330 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 |
|
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 |
SHINMEI TIKUSAN CO
LTD
Shinmei Chikusan KK
6-2-14 Chuocho Higashi-Kurume Saitama-Pref 203-0054 JAPAN
Tel: 042-471-0011 Fax:
042-473-4445
*.. The given phone number is for one of its subsidiaries
URL: http://www.shinmeifarm.co.jp
E-Mail address: (thru the URL)
cattle raising, dairy products, beef, pork, fertilizer, feedstuffs
Tokyo (6), Gunma (2), Yokohama, Ibaraki (--stores)
Ibaraki (4), Tochigi (3) (--meat centers/processing)
AKIYOSHI TAKAHASHI, PRES Mitsuo
Takahashi, mgn dir
Fumio Takahashi, dir Giichi
Takahashi, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 19,380 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 97 M
TREND SLOW WORTH Yen 862 M
STARTED 1967 EMPLOYES 330
CATTLE RAISING, WHOLESALE OF PORK, FERTILIZER, FEEDSTUFF.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1953 by father of Akiyoshi
Takahashi for raising cattle, on his account.
Incorporated in 1967 the firm has been succeeded by his
descendants. This is a specialized
cattle raising business, and wholesales pork, pork products, fertilizers,
feedstuffs, other. Operates 10 retail
stores centrally in Kanto area. Also
operates meat centers in Ibaraki and Tochigi.
Subsidiaries are: Niku no Shinmei (Shinmei Meat), Shinrin Chikusan
(Shinrin Cattle-raising), Nanki Chikusan, other (Tot 9).
The sales volume for Mar/2012 fiscal term amounted to Yen 19,380
million, a 2% down from Yen 19,745 million in the previous term. This is referred to the Great North Japan
Earthquake that took in Mar 2011. One of
its offices was damaged. Demand declined. Prices went down. The recurring profit was posted at Yen 55
million and the net profit at Yen 10 million, respectively, compared with Yen
85 million recurring loss and yen 33 million net profit, respectively, a year
ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 60 million and the net profit at Yen 20 million, respectively, on a 3%
rise in turnover, to Yen 20,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May
1967
Regd No.: 0127-01-003591 (Tokyo-Higashi-Kurume)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 776,000 shares
Issued:
194,000 shares
Sum: Yen
97 million
Major shareholders
(%): Akiyoshi Takahashi (67.5), Mitsuo Takahashi (13), Fumio Takahashi (13),
Giichi
Takahashi (6.5)
No. of
shareholders: 4
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Cattle raising,
wholesales and retails port, beef, fertilizers, feedstuffs, others (--100%)
Clients: [Mfrs,
wholesalers] Niku No Shinmei, Kyoei Chikusan (--subsidiaries), Tokyo Meat
Market, Starzen Co, S Foods, Ryosei Chikusan, Hannan Co, Nippon Meat &
Packers, Maruha Nichiro Foods, Sojitz Foods, Manno Sohonten, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Niku No Shinmei, Nosan Corp, Tokyo Meat Market, Toyohashi Feed Mills,
Nichiwa Sangyo Co, Shimizuko Shiryo Co, Kyodo Shiryo Co, Itochu Feeds Co, Showa
Sangyo Co, other
Payment record: No Complaints
Location: Business area in
Higashi-Kurume City, Tokyo-Metrop.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
Resona Bank (Higashi-Kurume)
SMBC (Hibarigaoka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual Sales |
|
20,000 |
19,380 |
19,745 |
21,437 |
|
Recur. Profit |
|
60 |
55 |
-85 |
250 |
|
Net Profit |
|
20 |
10 |
33 |
101 |
|
Total Assets |
|
|
33,886 |
33,042 |
33,231 |
|
Current Assets |
|
|
28,361 |
27,530 |
27,685 |
|
Current Liabs |
|
|
22,787 |
21,831 |
21,977 |
|
Net Worth |
|
|
862 |
851 |
818 |
|
Capital, Paid-Up |
|
|
97 |
97 |
97 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.20 |
-1.85 |
-7.89 |
-6.68 |
|
|
Current Ratio |
|
.. |
124.46 |
126.11 |
125.97 |
|
N.Worth Ratio |
.. |
2.54 |
2.58 |
2.46 |
|
|
R.Profit/Sales |
|
0.30 |
0.28 |
-0.43 |
1.17 |
|
N.Profit/Sales |
0.10 |
0.05 |
0.17 |
0.47 |
|
|
Return On Equity |
.. |
1.16 |
3.88 |
12.35 |
|
Notes: Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.71.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.