|
Report Date : |
07.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
DOHSUI CO LTD
|
|
|
|
|
Registered Office : |
27-5 Toyokawacho Hakodate Hokkaido
040-0065 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
September 1947 |
|
|
|
|
Com. Reg. No.: |
4400-01-001347
(Hokkaido-Hakodate) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, wholesale of fish, marine products; cold storage
operation; tuna farming; tuna set-net fishing |
|
|
|
|
No. of Employees : |
37 |
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 |
DOHSUI CO LTD
KK Dohsui
27-5 Toyokawacho
Hakodate Hokkaido 040-0065 JAPAN
Tel:
0138-22-7136
Fax: 0138-22-3777
E-mail: dohsui@dohsui.co.jp
Import,
wholesale of fish, marine products; cold storage operation; tuna farming; tuna
set-net fishing
Tokyo,
Sapporo, Sendai, Hakodate, Niigata, Nagoya
Pusan,
Dalian, Seattle (USA)
At the caption address
MOTOHIRO
TAKANO, PRES Yozo Takano,
ch
Minoru
Karino, s/mgn dir Tokusai Ryo, mgn dir
Kiyotaka
Hirakami, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 13,977 M
PAYMENTS No Complaints
CAPITAL Yen 50 M
TREND STEADY WORTH Yen 1,267 M
STARTED 1947 EMPLOYES 37
MFG, IMPORT, WHOLESALE OF FISH, FISH PRODUCTS, TUNA FISHING
FARMS, NET SET FISHING OPERATIONS
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The
subject company was established by Yozo Takano in order to make most of his experience
in the subject line of business, as Hokkaido Suisan Seizo Co Ltd. Motohiro is his son. This is a trading firm, with mfg division,
for import and wholesale of fish, marine products, other. Also engaged in tuna farming in Malta &
Mexico, set-net fishing of tuna in Morocco; frozen & cold storage
operations. In Nov 1994, participated in
the set-net fishing operations in Morocco together with a subsidiary, Takano
Trading Co Ltd. In May 1993 renamed as
captioned.
The
sales volume for Mar/2012 fiscal term amounted to Yen 13,977 million, a 15% up
from Yen 12,130 million in the previous term.
Prices of tune fish continued increasing due to the restricted catch
affected by species preservation movement.
The recurring profit was posted at Yen 192 million and the net profit at
Yen 101 million, respectively, compared with Yen 106 million recurring profit
and Yen 35 million net profit, respectively, a year ago.
For
the term that ended Mar 2013 the recurring profit was projected at Yen 200
million and the net profit at Yen 110 million, respectively, on a 5% rise in
turnover, to Yen 14,600 million.
Business is seen expanding steadily.
Final results are yet to be released.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Sept 1947
Regd No.: 4400-01-001347 (Hokkaido-Hakodate)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 200,000 shares
Issued: 100,000 shares
Sum: Yen 50 million
Major shareholders (%):
Motohiro Takano (21), Takano Trading (8), Yozo Takano (4), Noriko Takano (2)
No. of shareholders: 170
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures, imports
and wholesales: frozen fish, marine products, cold storage operations, tuna
farming, tuna set-net fishing operations, other (--100%).
(Tuna farming): operates in Malta &
Mexico
(Tuna set-net fishing operations): engaged
in Morocco, which started in Nov 1994
(Fish & products handled): tuna,
mackerel, salmon, trout, cuttlefish, shrimp, prawn, anchovies, salmon roe,
herring roe, herring, other.
Clients: [Mfrs,
wholesalers] Kanetomo Co, Seiho Shoji, The Union, Daiei Sangyo, Mitsubishi
Corp, Itochu Fresh, Sapporo Chuo Suisan, Ishio Suisan, Tokan Boeki, Shiogama
Suisan Shokuhin, Sanyu Suisan, Kyokuyo Co, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers [Mfrs,
wholesalers] Seiho Shoji, Takano Trading, The Union, Nichimo Co, Toyo Reizo,
Hakodate Uoichiba, Matatsu Suisan, Yamahon Sato Shoten, other.
Payment
record: No Complaints
Location: Business area in
Hakodate. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Shoko Chukin Bank (Hakodate)
Mizuho Bank (Hakodate)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
14,600 |
13,977 |
12,130 |
10,805 |
|
Recur.
Profit |
|
200 |
192 |
106 |
62 |
|
Net
Profit |
|
110 |
101 |
35 |
42 |
|
Total
Assets |
|
|
16,343 |
13,940 |
13,981 |
|
Current
Assets |
|
|
12,720 |
10,242 |
10,317 |
|
Current
Liabs |
|
|
9,828 |
7,561 |
7,971 |
|
Net Worth |
|
|
1,267 |
1,165 |
1,132 |
|
Capital,
Paid-Up |
|
|
50 |
50 |
50 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.46 |
15.23 |
12.26 |
1.59 |
|
|
Current Ratio |
|
.. |
129.43 |
135.46 |
129.43 |
|
N.Worth Ratio |
.. |
7.75 |
8.36 |
8.10 |
|
|
R.Profit/Sales |
|
1.37 |
1.37 |
0.87 |
0.57 |
|
N.Profit/Sales |
0.75 |
0.72 |
0.29 |
0.39 |
|
|
Return On Equity |
.. |
7.97 |
3.00 |
3.71 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.87 |
|
UK Pound |
1 |
Rs.87.65 |
|
Euro |
1 |
Rs.74.52 |
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.