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Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
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Name : |
NISHIMOTO TRADING CO LTD |
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Registered Office : |
Hamamatsucho Square Bldg, 1-30-5 Hamamatsucho Minatoku Tokyo 106-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
September, 1947 |
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Com. Reg. No.: |
090357 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of foodstuffs |
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No. of Employees : |
135128 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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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 |
NISHIMOTO TRADING
CO LTD
Nishimoto Boeki KK
Hamamatsucho Square Bldg, 1-30-5 Hamamatsucho Minatoku Tokyo 106-0013
JAPAN
Tel: 03-3438-5651
Fax: 03-3438-5675
* Registered at: 4-1-38 Isobedori Hyogoku Kobe
E-Mail address: ntcinfo@ntcltd.com
Import, export, wholesale of foodstuffs
Kobe
USA (14), Canada (3), Shanghai
(subcontracted)
YOSHIRO SUSAKI, PRES Takayuki
Kanai, rep dir
Shigenobu Tajima, dir Yuji
Sasa, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 21,266 M
PAYMENTS REGULAR CAPITAL Yen
80 M
TREND UP WORTH Yen 2,449 M
STARTED 2010 EMPLOYES 135128
TRADING FIRM SPECIALIZING IN FOODSTUFFS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1918 by a certain
Nishimoto, on his account, for selling foodstuffs. Incorporated in 1947 the firm has been
succeeded by the present executives. In
Oct 2010, established a holding company, Nishimoto Boeki Holdings KK, and
became its subsidiary. At the same time,
paid-up capital was decreased to Yen 80 million from the previous 100 million,
and also changed the accounting term to Jan/Dec from Apr/Mar. This is a trading firm specializing in
foodstuffs. Imports from Asia, USA,
Europe, etc. Exports fish products to
over 5,000 sushi bars in USA, Canada, other.
The sales volume for Dec/2012 fiscal term amounted to Yen 21,266
million, a 17% up from Yen 18,079 million for 9 irregular months due to the
change in accounting term in the previous term. The recurring profit was posted at Yen 575
million and the net profit at Yen 309 million, respectively, compared with Yen
530 million recurring profit and Yen 203 million net profit, respectively, a
year ago.
For the current term ending Dec 2013 the recurring profit is projected
at Yen 580 million and the net profit at Yen 320 million, respectively, on a3%
rise in turnover, to Yen 22,000 million.
Business is seen steadily expanding.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Sept
1947
Regd No.: (Kobe-Chuoku) 090357
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 800,000 shares
Issued:
200,000 shares
Sum: Yen
100 million
Major shareholders
(%): Nishimoto Boeki Holdings
KK* (100)
* Holding company of the group
firms
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales foodstuffs (--100%).
(Handling items):
Sake, wine, rice, flour beans, canned foods, boiled foods, vinegars,
oils, miso, seasonings, seaweed, kelp, dried seafoods, fishes, vegetables
(dried, chilled & frozen), seasoned toppings, noodles, sauces, fruit
juices, ice pops, pickled products, tofu (bean curd), fish cakes, wrapper
skins, frozen fish & fish roes, frozen processed foods, sushi materials,
other (--100%).
Exports fish/fishery
products to over 5,000 sushi bars in USA, Canada, Europe, Asia, other.
Clients: [Food stores, wholesalers]
Nishimoto Trading of America, Tazaki Foods, Tokyo Mart Pty Ltd, Meidi-Ya,
Watami Food Service, Camel Coffee, other.
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nissin Foods, Ezaki Glico, Daisui, Katokichi, Ocean Marine Foods,
Nippon Suisan, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Shimbashi)
MUFG (Shimbashi-Ekimae)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/03/2011 |
|
|
Annual
Sales |
|
22,000
|
21,266
|
18,079
|
12,070
|
|
Recur.
Profit |
|
580 |
575 |
530 |
374 |
|
Net Profit |
|
320 |
309 |
203 |
208 |
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Total
Assets |
|
|
8,613
|
7,635
|
7,223
|
|
Current
Assets |
|
|
7,890
|
6,966
|
6,576
|
|
Current
Liabs |
|
|
5,553
|
4,949
|
4,844
|
|
Net
Worth |
|
|
2,449
|
2,140
|
1,936
|
|
Capital,
Paid-Up |
|
|
80 |
80 |
80 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.45 |
17.63
|
49.78
|
-47.56
|
|
|
Current Ratio |
|
.. |
142.09
|
140.76
|
135.76
|
|
N.Worth Ratio |
.. |
28.43
|
28.03
|
26.80
|
|
|
R.Profit/Sales |
|
2.64 |
2.70 |
2.93 |
3.10 |
|
N.Profit/Sales |
1.45 |
1.45 |
1.12 |
1.72 |
|
|
Return On Equity |
.. |
12.62
|
9.49 |
10.74
|
|
Notes: Accounting terms changed from 31/12/2011 term to Jan/Dec from the
previous Apr/Mar.
Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.49 |
|
|
1 |
Rs.86.81 |
|
Euro |
1 |
Rs.73.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
---- |
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.