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Report Date : |
12.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOWA FOODS CO LTD |
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|
|
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Registered Office : |
3-2-1 Higashi-3-jokita Shiranukacho-Nishishoro Shiranukagun Hokkaido,
088-0573 |
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|
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Country : |
Japan |
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|
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Financials (as on) : |
31.03.2012 |
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|
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Date of Incorporation : |
Oct 1972 |
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Com. Reg. No.: |
4600-01-001207
(Hokkaido-Shiranukagun) |
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|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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|
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Line of Business : |
Processing of marine foods |
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|
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No. of Employees : |
40 |
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 |
TOWA FOODS CO LTD
REGD NAME: Towa
Shokuhin KK
MAIN OFFICE: 3-2-1
Higashi-3-jokita Shiranukacho-Nishishoro Shiranukagun Hokkaido
088-0573JAPAN
Tel: 01547-5-2014 Fax: 01547-5-2329
URL: http://www.kk-kyokuichi.co.jp/
(of the parent, Kyokuichi Co Ltd)
E-Mail
address: soumu@kk-kyokuichi.co.jp
Processing
of marine foods
Nil
At the
caption address, other (total 6)
TOSHIAKI
IWATA, PRES Takeshi
Nakagawa, rep ch
Yasushi
Sumiya, v ch Shin’ichi
Matsuda, s/mgn dir
Shin’ichi Matsuda, s/mgn dir Tsutomu Sugimoto, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 12,273 M
PAYMENTS REGULAR CAPITAL Yen
43 M
TREND SLOW WORTH Yen
590 M
STARTED 1972 EMPLOYES 40
MARINE FOOD PROCESSOR, WHOLLY OWNED BY KYOKUICHI CO
LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Takeshi Nakagawa in order
to make most of his experience in the subject line of business. Later accepted the capital participation of
Kyokuichi Co Ltd, a wholesaler of marine foods, Asahikawa, Hokkaido, and became
its wholly owned subsidiary. The is a
specialized mfr and processor of marine foods: herring roe, salmon roe, smoked
salmon, whale meat, trout, other marine products, dried, salted, etc. Materials are imported through trading
houses.
Financials are only partially
disclosed as from the Mar/2010 fiscal term.
The sales volume for Mar/2012
fiscal term amounted to Yen 12,273 million, a 7% down from Yen 13,141 million
in the previous term. The net profit was
posted at Yen 116 million, compared with Yen 720 million net losses a year ago.
For the current term ending Mar 2013 the net profit is
projected at Yen 120 million, on a 3% rise in turnover, to Yen 12,700 million.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Date Registered: Oct 1972
Regd No.: 4600-01-001207 (Hokkaido-Shiranukagun)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
348,000 shares
Issued:
47,000 shares
Sum: Yen 43.5 million
Major shareholders (%):
Kyokuichi Co Ltd* (100)
*.. Wholesaler of marine
products, Asahikawa, Hokkaido, founded 1949, capital Yen 100 million, turnover
Yen 46,347 million, net profit Yen 81 million, employees 158, pres Yasushi
Sumiya
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Processes and wholesales marine
products (dried, salted, preserved): whale meat, salmon roe, herring roe,
trout, including canned/bottled marine foods (--100%) Materials are imported through trading
houses.
Clients: [Fish dealers, specialty stores,
fishery coops] Kyokuichi, Sansui, Hokkaido Fishery Federation, Kushiro Fishery
Assoc, Niigata Reizo, Sento Gyorui, Nichirei Corp, Dia Fresh Foods, Benirei,
other
No. of
accounts: 500
Domestic
areas of activities: Centered in Hokkaido
Suppliers: [Mfrs, wholesalers] Kyokuichi,
Sansui, Hokkaido Fishery Federation, Toyota Tsusho Corp, Mitsubishi Corp, Kyodo
Suisan, Niigata Reizo, Nichirei Corp, Muroran Uoichiba, Marubeni Corp, other.
Payment record:
Regular
Location: Business
area in Hokkaido. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References:
Hokkaido
Bank (Kushiro)
Mizuho
Bank (Kushiro)
Relations:
Satisfactory
FINANCES: (In Million Yen)
|
|
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Annual
Sales |
|
12,700 |
12,273 |
13,141 |
12,071 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
120 |
116 |
-720 |
2 |
|
Total
Assets |
|
|
5,693 |
N/A |
N/A |
|
Net
Worth |
|
|
590 |
509 |
1,229 |
|
Capital,
Paid-Up |
|
|
43 |
43 |
43 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.48 |
-6.61 |
8.86 |
-17.67 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
10.36 |
.. |
.. |
|
|
N.Profit/Sales |
0.94 |
0.95 |
-5.48 |
0.02 |
|
Notes: Financials are only partially disclosed as from the
31/03/2010 fiscal term.
Forecast figures for the 31/03/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.53 |
|
UK Pound |
1 |
Rs.88.05 |
|
Euro |
1 |
Rs.72.29 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.