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Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL FOODS CO LTD |
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Registered Office : |
JR Shinagawa East Bldg 8F, 2-18-1 Konan Minatoku Tokyo 108-0075 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
November 2000 |
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Com. Reg. No.: |
(Tokyo-Minatoku) 045440 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of meat (beef & pork) |
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No. of Employees : |
11 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 |
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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
GLOBAL FOODS CO LTD
REGD NAME: KK
Global Foods
MAIN OFFICE: JR
Shinagawa East Bldg 8F, 2-18-1 Konan Minatoku Tokyo 108-0075 JAPAN
Tel:
03-6833-6675
URL: http//:www.zensho.co.jp
(of the parent, Zensho Co Ltd)
E-mail: (thru the URL)
Import, wholesale
of meat (beef & pork)
Nil
MATAO KAMIMURA,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 23,488 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 80 M
TREND STEADY WORTH Yen 422 M
STARTED 2000 EMPLOYES 11
TRADING FIRM
SPECIALIZING IN MEAT, WHOLLY OWNED BY ZENSHO CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was
established on the basis of an international trading division separated from
Zensho Co Ltd (now Zensho Holdings Co Ltd), family restaurant operator, at the
caption address (See REGISTRATION). This is virtually a trading division of the
parent for import and wholesale of meat (beef & port centrally) for supply
to the parent. In Apr 2012 merged a
group company, Global Seafood Co Ltd.
Goods are imported from USA, Australia, other, and also thru general
trading houses.
Financials are
consolidated by the parent and only partially disclosed.
The sales volume for Mar/2012 fiscal term
amounted to Yen 23,488 million, a 76% up from Yen 23,341 million in the
previous term. This is attributed to the
said merger of group sister company, and sales rose. The net profit was posed at Yen 357 million,
compared with Yen 273 million a year ago.
For the term that
ended Mar 2013 the net profit was projected at Yen 370 million, on a 3% rise in
turnover, to Yen 24,200 million. Final
results are yet to be released.
The financial situation
is considered FAIR and good for ORDINARY business engagements.
Date Registered: Nov
2000
Regd No.:
(Tokyo-Minatoku) 045440
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 6,400 shares
Issued: 1,600 shares
Sum: Yen 80 million
Major shareholders (%): Zensho Holdings
Co Ltd* (100)
*.. Direct-run family restaurant chain
operator with meat as main dishes, at the caption address, founded 1982, listed
Tokyo S/E’s, capital Yen 10,089 million, sales Yen 417,517 million, operating
profit Yen 14,736 million, recurring profit Yen 13,873 million, net profit Yen
5,058 million, total assets Yen 258,509 million, net worth Yen 55,218 million,
employees 5,343, pres Kentaro Ogawa
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Imports and
wholesales meat (beef & pork mainly), other (--100%).
Clients: [Restaurants, chain
stores] Zensho Holdings Co (the parent), Nakau Co, COCO’s Japan, other
No. of accounts:
100
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from USA, Australia, Mexico, China, other, directly and
thru general trading houses.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC
(Yokohama-Ekimae)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Annual
Sales |
|
24,200 |
23,488 |
13,341 |
6,245 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
370 |
357 |
273 |
-183 |
|
Total
Assets |
|
|
N/A |
4,685 |
N/A |
|
Net
Worth |
|
|
422 |
173 |
-100 |
|
Capital,
Paid-Up |
|
|
80 |
80 |
80 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.03 |
76.06 |
113.63 |
20.14 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
3.69 |
.. |
|
|
N.Profit/Sales |
1.53 |
1.52 |
2.05 |
-2.93 |
|
Notes: Financials
are consolidated by the parent and only partially disclosed.
Forecast (or estimated)
figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.83 |
|
|
1 |
Rs.91.76 |
|
Euro |
1 |
Rs.79.33 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.