|
Report Date : |
16.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
NOSUI CORPORATION |
|
|
|
|
Registered Office : |
3-2-1 Tamagawa Fukushimaku Osaka 553-0004 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
May 1956 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Importer, wholesaler of fish products, frozen foods |
|
|
|
|
No. of Employees : |
208 |
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 – 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 |
NOSUI CORPORATION
REGD NAME: KK
Nosui
MAIN OFFICE: 3-2-1
Tamagawa Fukushimaku Osaka 553-0004 JAPAN
Tel:
06-6445-6301
E-Mail address: (thru the URL)
Import, wholesale
of fish products, frozen foods
Tokyo, Sapporo,
Sendai, Nagoya, Fukuoka
China (4), Thailand
(2), Vietnam, Australia, USA
(subsidiaries)
IWAO SUGITA, PRES Kazue Kitahara, mgn dir
Tadato Tomari, mgn
dir Toshihiro Kanda, mgn dir
Koji Harada, mgn
dir Hiroyuki
Hayashi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 44,159 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
435 M
TREND UP WORTH Yen 4,624 M
STARTED 1956 EMPLOYES 208
TRADING FIRM SPECIALIZING IN FISH PRODUCTS & FROZEN FOODS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Iwao Sugita in order to make most of his experience
in the subject line of business. This is
a trading firm, with mfg division, for import and wholesale of fish products
& frozen foods. Operates subsidiary
makers in China (4), Thailand (2) and Vietnam.
Food processing is done by subsidiaries.
The sales volume for Mar/2012 fiscal term amounted to Yen 44,159 million, a 5% up from Yen 42,013 million in the previous term. Import of sushi materials increased. The recurring profit was posted at Yen 1,108 million and the net profit at Yen 615 million, respectively, compared with Yen 988 million recurring profit and Yen 469 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 1,200 million and the net profit at Yen 650 million, respectively, on a 2% rise in turnover, to Yen 45,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: May
1956
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2.9 million shares
Issued: 740,000 shares
Sum: Yen 435 million
Major
shareholders (%): Mitsui & Co (13.5), Yoshihiro Okamoto (9.4), Employees’
S/Holding Assn (9.3), Sojitz Foods (7.8),
Toyota Tsusho Corp (7.8), Mitsubishi Corp(3.8)
No. of shareholders: 127
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales fish & fish products (44%), frozen foods, others (--56%).
Clients: [Mfrs,
wholesalers] Agri Foods, Itochu Corp, Mitsubishi Foods, Skylark Restaurants,
Food Service Network, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Itochu Corp, Mitsui & Co, Nomura Trading, Tokyo Seafoods,
other
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Osaka)
Mizuho Corporate
Bank (Osaka)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
45,000 |
44,159 |
42,013 |
38,837 |
|
Recur.
Profit |
|
1,200 |
1,108 |
988 |
930 |
|
Net
Profit |
|
650 |
615 |
469 |
502 |
|
Total
Assets |
|
|
17,363 |
15,382 |
14,029 |
|
Current
Assets |
|
|
15,097 |
13,261 |
|
|
Current
Liabs |
|
|
11,259 |
10,056 |
|
|
Net
Worth |
|
|
4,624 |
4,052 |
3,686 |
|
Capital,
Paid-Up |
|
|
435 |
435 |
435 |
|
Div.P.Share(¥) |
|
|
100.00 |
100.00 |
100.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
1.90 |
5.11 |
8.18 |
-0.23 |
|
|
Current Ratio |
|
.. |
134.09 |
131.87 |
.. |
|
N.Worth Ratio |
.. |
26.63 |
26.34 |
26.27 |
|
|
R.Profit/Sales |
|
2.67 |
2.51 |
2.35 |
2.39 |
|
N.Profit/Sales |
1.44 |
1.39 |
1.12 |
1.29 |
|
|
Return On Equity |
.. |
13.30 |
11.57 |
13.62 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
UK Pound |
1 |
Rs.90.71 |
|
Euro |
1 |
Rs.78.47 |
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 |
|
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.