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Report Date : |
15.06.2013 |
IDENTIFICATION DETAILS
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Name : |
CARGILL JAPAN LIMITED |
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Registered Office : |
Fuji Bldg, 3-2-3 Marunouchi Chiyodaku
Tokyo 100-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2013 |
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Date of Incorporation : |
November 1946 |
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Com. Reg. No.: |
(Tokyo-Chiyodaku) 034873 |
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Legal Form : |
Limited Company |
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Line of Business : |
Trading house specializing in foodstuffs |
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No. of Employees : |
324 |
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 |
COMPANY NAME
CARGILL JAPAN
LIMITED
REGD NAME
Cargill Japan KK
MAIN OFFICE
Fuji Bldg, 3-2-3 Marunouchi Chiyodaku Tokyo 100-0005 JAPAN
Tel: 03-5224-5600
Fax: 03-5224-5930
URL: Error! Hyperlink reference not valid.
E-Mail
address: info@cargill.com
ACTIVITIES
Trading house specializing in foodstuffs
BRANCHES
Osaka, Kobe, Okayama
OVERSEAS
Los Angeles, New York, Portland (--USA), Sao Paolo, Vancouver, London,
Milan, Melbourne,Shanghai, Beijing (--China), Singapore, Bangkok, Jakarta
OFFICER(S)
HIROTO SASAKI, PRES
Hideyo Suzuki, ch
Anri Hamaya, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 182,278 M
PAYMENTS No Complaints CAPITAL Yen 2,800 M
TREND UP WORTH Yen 88,189 M
STARTED 1946 EMPLOYES 324
COMMENT
TRADING HOUSE SPECIALIZING IN FOODSTUFFS, WHOLLY OWNED BY
CARGIL INC GROUP, USA.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 11,268.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally as Tokyo Food Products Co
Ltd as a trading house specializing in foodstuffs. Renamed as Toshoku Ltd in Jan 1961. In Dec 1997, Toshoku Ltd went into financial
difficulties and filed for court protection under the Corporate Reorganization
Law. Reported liabilities were Yen
639,700 million. In Mar 1998 received
the order of commencement of the Corporate Reorganization Proceedings. In Oct 1998, Cargill Inc, USA became the
Toshoku’s sponsor company. In Jun 2000,
Court approval was granted for the Reorganization Plan, and elected Hideyo
Suzuki as president. In Sept 2000,
decreased the capital to Yen 0 from the previous Yen 30,360 million, and
increased to Yen 2,800 million. On June
01 2007, merged with Cargill Japan Ltd into its subsidiary and renamed as
captioned. This is a specialized
trading house of foodstuffs with 4 core divisions: Grain & Oil Div, Food
Material Div, Processed Food Div, and Food Engineering Div.
FINANCIAL INFORMATION
The sales volume for May/2012 fiscal term amounted to Yen 182,278
million, a 5% up from Yen 173,586 million in the previous term. The recurring profit was posted at Yen 3,701
million and net profit at Yen 1,800 million, respectively, compared with Yen
5,862 million recurring profit and Yen 4,927 million net profit, respectively,
a year ago.
For the current term ending May 2013 the recurring profit is projected
at Yen 5,800 million and the net profit at Yen 4,900 million, respectively, on
a 7% rise in turnover, to Yen 195,000 million.
Weaker Yen will contribute to increase sales figures in Yen terms.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 11,268.2 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Nov
1946
Regd
No.: (Tokyo-Chiyodaku)
034873
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
200,000 shares
Issued: 56,000 shares
Sum: Yen 2,800 million
Major
shareholders (%): Cargill Asia Pacific Ltd (80.1), Cargill Inc (19.9)
Number of shareholders: 2
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: A trading house
for import, export, wholesale of: foodstuffs:
(Sales Breakdown
by Divisions):
Grain & Oil
Div (54%): wheat, barley, rice, wheat & other cereal flour, pre-mixed products,
raw materials for grain teas, oil seeds (canola, soybeans, cottonseeds, sesame
seeds, etc), Animal/vegetable oils & fats (soybean oil, canola oil, palm
oil, safflower oil, cottonseed oil, fish oil, etc), mayonnaise & other oil
based products, feed grains, food, com, feed materials (soybean meal, fishmeal,
etc), raw materials of starch & its products, grits & sweeteners;
Food Materials Div
(13%): cocoa beans & products (cocoa butter, cocoa liquor, cocoa powder,
etc), dried edible beans (small red beans, kidney beans, etc), nuts
(groundnuts, almonds, cashew nuts, etc), cereals, dairy products, refined
sugar, beet sugar & non-centrifugal sugar, raw sugar, coffee beans,
chicory, other;
Processed Food Div
(14%): canned/bottled foods, frozen/dried/salted vegetables, fruits &
spice, wine ingredients, juice materials, meat (pork, beef & chicken),
processed meat products, teas & laver, other;
Food Engineering
Div, others (19%): crude & refined ethanol, shelled egg & egg-related
products, organic & inorganic chemicals, food additives, crude solar
salt, packaging materials, etc.
Overseas trading
ratio: about 50%.
Clients: [Food processors,
wholesalers] Kokubu Ltd, QP Corp, Key Coffee Inc, Meiji Cacao, Mitsui Foods, Kyodo Shiryo, Nichiwa
Sangyo, Tokan Co, Ministry of Agriculture, Itoen
Ltd, Kewpie Co, Showa Sangyo Co, other.
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Cargill group firms, Key Coffee, UCC Ueshima Coffee, Nissin Food Products, Nissin Oillio Group,
Hokuren Federation of Agricultural Coops, Marubeni Corp, J Oil Mills, Mitsui Sugar, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Nihombashi)
MUFG (Marunouchi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/05/2013 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
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Annual Sales |
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195,000 |
182,278 |
173,586 |
176,572 |
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Recur. Profit |
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5,800 |
3,701 |
5,862 |
2,635 |
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Net Profit |
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4,900 |
1,800 |
4,927 |
1,699 |
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Total Assets |
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120,525 |
113,545 |
106,243 |
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Current Assets |
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98,031 |
89,044 |
95,606 |
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Current Liabs |
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31,995 |
26,884 |
24,369 |
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Net Worth |
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88,189 |
86,127 |
81,394 |
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Capital, Paid-Up |
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2,800 |
2,800 |
2,800 |
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Div.P.Share(¥) |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.98 |
5.01 |
-1.69 |
-24.73 |
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Current Ratio |
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306.39 |
331.22 |
392.33 |
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N.Worth Ratio |
.. |
73.17 |
75.85 |
76.61 |
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R.Profit/Sales |
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2.97 |
2.03 |
3.38 |
1.49 |
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N.Profit/Sales |
2.51 |
0.99 |
2.84 |
0.96 |
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Return On Equity |
.. |
2.04 |
5.72 |
2.09 |
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Notes: Forecast (or estimated) figures for the 31/05/2013
fiscal term.
RATING EXPLANATIONS
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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.