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Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
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Name : |
MEITO ADAMS CO LTD |
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Registered Office : |
345-5 |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
August 1961 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of chewing gums |
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No. of Employees : |
112 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 128.7 million |
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Status : |
Moderate |
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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 |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
MEITO ADAMS CO LTD
Meito Adams KK
345-5 Ichiba
Kiyosu City Aichi-Pref 452-0931 JAPAN
Tel:
052-408-0925 Fax: 052-408-0911
URL: http://www.meito-sangyo.co.jp
(Of the parent, Meito Sangyo Co Ltd)
Mfg of
chewing gums
Nil
At the
caption address
RYAN
KATZ, PRES (Only phonetically spelled)
Hiroshi
Kojima, v pres Atsushi
Kamachi, mgn dir
Akihiro
Mizutani, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 7,000 M
PAYMENTS REGULAR CAPITAL Yen 180 M
TREND SLOW WORTH Yen
714 M
STARTED 1961 EMPLOYES 112
MFR OF CHEWING GUMS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 128.7 MILLION, 30 DAYS NORMAL TERMS
The subject company was established as a JV by Kraft Foods
Inc (USA) and Meito Sangyo Co Ltd. This
is a specialized mfg division of Mondelez Japan Ltd (renamed in Jul 2013 from
Kraft Foods Japan Ltd).
Financials are only partially disclosed, with profits not
precisely disclosed.
The sales volume for Dec/2012 fiscal term amounted to Yen 7,000 million,
a 7% down from Yen 7,500 million in the previous term. The net profit is believed posted at Yen 20
million, compared with Yen 25 million a year ago.
For the current term ending Dec 2013 the net profit is projected at Yen
20 million, on a 5% rise in turnover, to Yen 7,350 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 128.7 million, on 30 days normal terms.
Date Registered: Aug 1961
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
360,000 shares
Issued:
360,000 shares
Sum: Yen 180 million
Major shareholders (%): Meito Sangyo Co Ltd* (50),
Mondelez Japan Ltd (50)
No. of shareholders: 2
*.. Meito Sangyo Co Ltd, producer of confectionery, Nagoya, founded
1945, listed Tokyo/Nagoya SE’s, capital Yen 1,313 million, sales Yen 19,216
million, operating loss Yen 192 million, recurring profit Yen 31 million, net
profit Yen 47 million, total assets Yen 45,850 million, net worth Yen 33,147
million, employees 546, pres Akihiro Mizutani
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
chewing gums (100%)
Clients: [Mfrs,
wholesalers] Mondelez Japan Ltd
No. of accounts: One
(direct account)
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Modeled Japan group, Takasago International Corp, Matsuya Co,
Tsuboi Co, other
Payment record: Regular
Location: Business area in
Kiyosu City, Aichi-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank
References:
MUFG (Nagoya)
Mizuho Bank (Nagoya)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Annual
Sales |
|
7,350 |
7,000 |
7,500 |
7,000 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
20 |
20 |
25 |
20 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
714 |
700 |
683 |
|
Capital,
Paid-Up |
|
|
180 |
180 |
180 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.00 |
-6.67 |
7.14 |
7.69 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.27 |
0.29 |
0.33 |
0.29 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.91 |
|
UK Pound |
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
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.