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Report Date : |
17.07.2013 |
IDENTIFICATION DETAILS
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Name : |
UNION SHOJI CO LTD |
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Registered Office : |
15 Nominamicho Nishiku Nagoya 452-0847 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2012 |
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Date of Incorporation : |
August 1951 |
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Com. Reg. No.: |
1800-01-048408
(Nagoya-Nishiku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer and wholesaler of confectionery and baking ingredients
including almonds, cashew nuts, macadamia nuts, pistachios, coconuts, hazel
nuts, walnuts raisins, prunes, fondants, dried pineapples, dried fruits mix,
packaging materials, baking & confectionary manufacturing machinery |
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No. of Employees : |
60 |
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 : |
Regular |
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Litigation : |
--- |
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 |
A2 |
A2 |
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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 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 |
UNION SHOJI CO LTD
Union Shoji KK
15 Nominamicho
Nishiku Nagoya 452-0847 JAPAN
Tel:
052-501-4321
Fax: 052-501-4325
URL: http://www.union-shoji.jp/
E-Mail address: info@union-shoji.jp
Import,
wholesale of confectionary ingredients (almonds, nuts, other)
Tokyo
New
Princess Corp (USA) (subsidiary)
At the
caption address (processing/sorting/packaging)
AKIHIKO
ITOH, PRES
Keizo
Okada, mgn dir
Kenzo
Kawai, mgn dir
Yen
Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 14,279 M
PAYMENTS REGULAR CAPITAL Yen
60 M
TREND SLOW WORTH Yen
2,080 M
STARTED 1951 EMPLOYES 60
IMPORTER AND WHOLESALER SPECIALIZING IN CONFECTIONARY AND BAKING INGREDIENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOoD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a purchasing
division separated from Aichi-Pref Bakery Co-Op, Nagoya, in order to advance
into import and wholesale of ingredients for baking & confectionary
mfg. This is a trading firm specializing
in confectionery ingredients, such as almonds, cashew nuts, walnuts,
pistachios, prunes, other dried (sweetened) fruits, other. Also handles packaging materials and
baking/confectionary processing equipment & machinery. Goods are imported from USA centrally, other
from India, Italy, etc. Goods are
processed (into various types), sorted, packaged, etc at its own yard. Clients include major bakeries &
confectionary & food processors, nationwide.
(Brief history): In Feb 1963, started imports of raisins from
USA. In Oct the same year, founded
raisin processing yard at the caption address.
In Sept 1991, established USA subsidiary. In Oct 1993, joined in operation of almonds
farms in USA.
The sales volume for Nov/2012 fiscal term amounted to Yen 14,279
million, a 1% down from Yen 14,490 million in the previous term. High Yen hurt import/export sales, reducing
revenues & profits in Yen terms. The
net profit was posted at Yen 63 million, compared with Yen 103 million a year
ago.
For the current term ending Nov 2013 the net profit is projected at Yen
70 million, on a 5% rise in turnover, to Yen 15,000 million.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: Aug 1951
Regd No.: 1800-01-048408 (Nagoya-Nishiku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
480,000 shares
Issued: 120,000 shares
Sum: Yen 60 million
Major shareholders (%): Akihiko
Itoh (52.5), Choeiken* (8.3)
*.. Subsidiary restaurant owned by
Itoh family
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales confectionery and baking ingredients: almonds, cashew nuts,
macadamia nuts, pistachios, coconuts, hazel nuts, walnuts (--60%), raisins,
prunes, fondants, dried pineapples, dried fruits mix, packaging materials,
baking & confectionary mfg machinery, others (--40%).
Goods are processed at its factory into various types/sizes: sliced,
powdered, extra-fined, seasoned (filled with liqueur, wine, etc), pasted,
smashed, etc before shipment to mfrs.
Operates almond farms in Calif, USA.
Clients:
[Confectionary/bakeries, wholesalers, food processors], Yamazaki Baking (10%),
Fuji Baking, Shikishima Baking, Lotte Co, Juchheim, Otsuka Pharmaceutical,
Tivoli Co, Nissin Cisco, Bourbon Corp, Meito Sangyo, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Growers,
wholesalers] Blue Diamond Growers, American National Raisin Packing Co,
Sun-Maid Growers, other. Also imports
from USA, Italy, India, etc.
Domestically supplied from Mitsubishi Corp (3%), Asahi Denka, Kyowa
Hakko, Toshoku Ltd, Miyoshi Oil & Fat, J Oil Mills, NOF Corp, other. (Suppliers number to about 600, according to
the firm).
Payment record: Regular
Location: Business area in
Nagoya. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Bank of Nagoya (H/O)
Shoko Chukin Bank (Nagoya)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
30/11/2013 |
30/11/2012 |
30/11/2011 |
30/11/2010 |
|
|
Annual Sales |
|
15,000 |
14,279 |
14,490 |
13,356 |
|
Recur. Profit |
|
|
|
237 |
168 |
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Net Profit |
|
70 |
63 |
103 |
93 |
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Total Assets |
|
|
9,764 |
9,652 |
9,616 |
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Current Assets |
|
|
6,815 |
6,722 |
6,626 |
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Current Liabs |
|
|
6,459 |
6,406 |
6,194 |
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Net
Worth |
|
|
2,080 |
2,017 |
1,917 |
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Capital,
Paid-Up |
|
|
60 |
60 |
60 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.05 |
-1.46 |
8.49 |
8.12 |
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Current Ratio |
|
.. |
105.51 |
104.93 |
106.97 |
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N.Worth Ratio |
.. |
21.30 |
20.90 |
19.94 |
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R.Profit/Sales |
|
.. |
.. |
1.64 |
1.26 |
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N.Profit/Sales |
0.47 |
0.44 |
0.71 |
0.70 |
|
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Return On Equity |
.. |
3.03 |
5.11 |
4.85 |
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Notes:
Forecast (or estimated) figures for the 30/11/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.39 |
|
UK Pound |
1 |
Rs.89.90 |
|
Euro |
1 |
Rs.77.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
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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.