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Report Date : |
10.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHOWA FOODS CO LTD |
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|
|
Registered Office : |
102-67 Kamioshimamachi Maebashi Gunma-Pref
379-2153 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
February 1972 |
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Com. Reg. No.: |
0700-01-001703
(Gunma-Maebashi) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, wholesaler
of barbecued chicken, meatball, processed foods |
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|
|
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No. of Employees : |
170 |
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 |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 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 |
SHOWA FOODS CO LTD
KK Showa Shokuhin
102-67
Kamioshimamachi Maebashi Gunma-Pref 379-2153
Tel:
027-261-0264 Fax: 027-261-0311
URL: http://www.yaki-tori.co.jp
E-mail: showa@yaki-tori.co.jp
Import,
wholesale of barbecued chicken, meatball, processed foods
Tokyo
Maebashi
(2), Gunma, Iwate (3)
TAKAHITO
AKAISHI, PRES Tomoyuki Akaishi,
s/mgn dir
Atsushi
Hagiwara, s/mgn dir Shizukoi
Akaishi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 12,301 M
PAYMENTSNo
Complaints CAPITAL Yen
80 M
TREND STEADY WORTH Yen 1,257 M
STARTED 1972 EMPLOYES 170
MFR
& PROCESSOR OF BARBECUED CHICKEN
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established originally in 1967 by Katsuyoshi Akaishi, on his account, for selling barbecued chicken (Yakitori in Japanese), in Iwate-Pref. Incorporated in 1972 the firm moved the Headquarters to the caption address. Takahito is his son, who assumed the pres office in Mar 2009. This is processor of barbecued chicken, chicken ball, cooked pork, sausages, other processed meat products. Barbecued chicken is a well-eaten food in Japan, particularly in pubs & snacks, eating in & take-out. Operates 7 factories in northern part of Japan. Clients include major meat packers, wholesalers, other.
The sales volume for Feb 2013 fiscal term amounted to Yen 12,301 million, a 16% UP FROM 10,624 in the previous term. Exports increased into China and other S/E Asian countries. continued increasing. High Yen hurt sales earnings & profits in Yen terms. The recurring profit was posted at Yen 219 million and the net losses at Yen 47 million, respectively, compared with Yen 262 million recurring profit and yen 141 million net profit, respectively, a year ago. Foreign exchange losses are incurred.
For the term ending Feb 2014 the recurring profit is projected at Yen 230 million and the net profit at Yen 160 million, respectively, on a 4% rise in turnover, to Yen 12,800 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Feb
1972
Regd No.: 0700-01-001703 (Gunma-Maebashi)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 640,000 shares
Issued: 160,000 shares
Sum: Yen 80
million
Major shareholders (%): Company’s Treasury Stock
(12.5), Shizuko Akaishi (12.2), Katsuyoshi Akaishi (12.1) Takahito Akaishi
(10.0), Tomoyuki Akashi (8.9)
No. of shareholders: 8
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
& processes barbecued chicken, chicken ball, cooked pork, sausages, other
processed/cooked meat products (--97%), others (3%).
Clients: [Meat packers,
wholesalers, restaurants] Itoham Foods Inc, Maruha Inc, Marudai Food Co,
Fooklink Corp, Marubeni Chikusan (Chikusan means meat products), Zen-Noh
Chicken Foods, Japan Food, Tochiku Ham, Takizawa Ham, other.
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Maruha Nichiro Meat & Products, Zen-Noh Chicken Foods,
Marubeni Chikusan, Itoham Foods Inc, Marudai Food, Fooklink Corp, Japan Food,
other
Payment record: No Complaints
Location: Business area in
Maebashi. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Ashikaga Bank (Maebashi)
Resona
Bank (Maebashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
|
|
Annual
Sales |
|
12,800 |
12,301 |
10,624 |
11,098 |
|
Recur.
Profit |
|
230 |
219 |
262 |
257 |
|
Net
Profit |
|
60 |
-47 |
141 |
146 |
|
Total
Assets |
|
|
4,170 |
3,324 |
3,477 |
|
Current
Assets |
|
|
2,841 |
2,382 |
2,558 |
|
Current
Liabs |
|
|
3,459 |
1,911 |
2,159 |
|
Net
Worth |
|
|
1,257 |
1,309 |
1,175 |
|
Capital,
Paid-Up |
|
|
80 |
80 |
80 |
|
Div.P.Share(¥) |
|
|
0.00 |
25.00 |
25.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.06 |
15.79 |
-4.27 |
0.82 |
|
|
Current Ratio |
|
.. |
82.13 |
124.65 |
118.48 |
|
N.Worth Ratio |
.. |
30.14 |
39.38 |
33.79 |
|
|
R.Profit/Sales |
|
1.80 |
1.78 |
2.47 |
2.32 |
|
N.Profit/Sales |
0.47 |
-0.38 |
1.33 |
1.32 |
|
|
Return On Equity |
.. |
-3.74 |
10.77 |
12.43 |
|
Notes:
Forecast (or estimated) figures for the 28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.05 |
|
UK Pound |
1 |
Rs.90.89 |
|
Euro |
1 |
Rs.78.27 |
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 |
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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 |
|
<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.