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Report Date : |
19.01.2013 |
IDENTIFICATION DETAILS
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Name : |
CHUO TRADING CO LTD |
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Registered Office : |
Forum Shimada Bldg 7F, 1-4-8 Shinkawa Chuoku Tokyo 104-0033 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
June, 1951 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of poultry feeds, cereals |
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No. of Employees : |
13 |
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 : |
No Complaints |
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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 |
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Insignificant |
A1 |
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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 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.
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Source : CIA |
CHUO TRADING CO
LTD
Chuo Boeki KK
Forum Shimada Bldg 7F, 1-4-8 Shinkawa Chuoku Tokyo 104-0033 JAPAN
Tel: 03-3206-7281 Fax:
03-3206-7292
URL: N/A
Import, wholesale of poultry feeds, cereals
Nil
Ibaraki (Warehouse)
HIDEO KOBAYASHI, PRES
Takio Arai, s/mgn dir
Nobuyoshi Kobayashi, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 1,769 M
PAYMENTS REGULAR CAPITAL Yen 47 M
TREND NO COMPLAINTS WORTH Yen
447 M
STARTED 1951 EMPLOYES 13
IMPORTER AND WHOLESALER SPECIALIZING IN CEREALS & POULTRY
FEEDS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGGEMENTS.
The subject company was established originally in 1929 by Tomiyoshi
Kobayashi for selling miscellaneous cereals, on his account, and was
incorporated in 1951. Hideo is the
founder’s son, who took the pres office in Apr 1976. This is a trading firm specializing in
importing and wholesaling cereals (excluding rice) and poultry feeds centrally,
and other miscellaneous cereals.
Products are imported widely from USA, Poland, Brazil, Canada,
Australia, China, Thailand, India and other S/E Asian countries. Clients include flour mills.
The financials are only partially disclosed.
The sales volume for Sept/2012 fiscal term amounted to Yen 1,769
million, a 16% down from Yen 2,096 million in the previous term. This is referred to the high Yen, reducing
revenues in Yen terms. The net profit
was posted at Yen 53 million, compared with Yen 52 million a year ago.
For the current ending Sept 2013 the net profit is projected at Yen 55
million, on a 2% rise in turnover, to Yen 1,800 million.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date
Registered: Jun 1951
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 320,000 shares
Issued:
94,300 shares
Sum: Yen
47.15 million
Major shareholders
(%): Hideo Kobayashi
(50) & families (--50)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports & wholesales
cereals (excluding rice), poultry feeds, other miscellaneous cereals (--100%).
Products are imported from USA, Brazil, Poland, China, Canada, Thailand,
India, other S/E Asian countries.
Clients: [Cereal mfrs,
wholesalers] Matsuya Seifun (Seifun means flour milling in Japanese), Shinyo
Shokuhin, Miyamoto Seifun, Ishimori Seifun, Fuji Seifun Sangyo, Suzuki
Seifunsho, other.
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Imports from about 50 suppliers in USA, Canada, Australia, China, Poland,
Thailand, India, other S/E Asian countries.
Domestically supplied from farm coops in Hokkaido, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References:
Mizuho Bank (Fukagawa)
MUFG (Monzen-nakacho)
Relations: Satisfactory
(In Million Yen)
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30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
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Annual Sales |
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1,800 |
1,769 |
2,096 |
1,802 |
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Recur. Profit |
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Net Profit |
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55 |
53 |
52 |
46 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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|
447 |
410 |
374 |
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Capital, Paid-Up |
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|
47 |
47 |
47 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.75 |
-15.60 |
16.32 |
7.01 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
3.06 |
3.00 |
2.48 |
2.55 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.94 |
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|
1 |
Rs.86.24 |
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Euro |
1 |
Rs.72.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.