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Report Date : |
17.06.2013 |
IDENTIFICATION DETAILS
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Name : |
VOX TRADING CO LTD |
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Registered Office : |
Tokyu Reit Bldg, 2-7-1 Hatchobori Chuoku Tokyo 104-0052 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2012 |
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Date of Incorporation : |
December, 2002 |
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Legal Form : |
Limited Company |
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Line of Business : |
A trading house for import, export, wholesale of foodstuffs |
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No. of Employees : |
82 |
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
VOX TRADING CO LTD
REGD NAME
KK Vox Trading
MAIN OFFICE
Tokyu Reit Bldg, 2-7-1 Hatchobori Chuoku Tokyo 104-0052 JAPAN
Tel: 03-3555-5500 Fax: 03-3555-5568
URL: Error! Hyperlink reference not valid.
E-Mail address: info@voxtrading.jp
ACTIVITIES
A trading house for import, export, wholesale of foodstuffs
BRANCHES
Osaka, Nagoya, Fukuoka, Sapporo
OVERSEAS
China (10), Thailand (3), USA, Australia, Indonesia, Canada
OFFICER(S)
TAKEHISA HASHIMOTO, PRES Ken’ichi Nagatani, ch
Fumio Naruse, dir Haruki Kawanabe, dir
Chikahiro Ogaki, dir Akira
Imai, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 15,906 M
PAYMENTS REGULAR CAPITAL Yen
500 M
TREND SLOW WORTH Yen 1,107 M
STARTED 2002 EMPLOYES 82
COMMENT
TRADING HOUSE SPECIALIZING IN SPICES AND FOODSTUFFS.
FINANCIAL SITUATION IS CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 157.0 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a food & grain
division separated from Yuasa Trading Co Ltd, a trading house specializing in
food & lumber, Tokyo, by acquiring its trade rights on an MBO (management
buyout) deal. This is a specialized
trading house for import, export and wholesale of foodstuffs, particularly
horseradish and spices (Japanese wasabi spices). A pioneer in cultivating horseradish in
China, with its import share accounting for around 80% of the domestic
market. Handling items are varied: cereal,
feeds, livestock products, farm produce, spices, edible oils, shrimps, nuts,
canned/bottled foods, pet foods, other.
This is a unique trading house with not only import & export
operations but with food engineering technologies for production, that entail:
overseas planting at own or leased farms, including seeding, cultivating,
processing, quality control, sorting at own yards; exporting & supplying to
clients overseas, mostly to Japan.
Domestic clients include food processors, feed makers, other,
nationwide.
FINANCIAL
INFORMATION
The sales volume for Nov/2012 fiscal term amounted to Yen 15,906, a
shade down from Yen 16,039 million in the previous term. The recurring profit was posted at Yen 362
million and the net profit at Yen 307 million, respectively, compared with Yen
354 million recurring profit and Yen 350 million net profit, respectively, a
year ago.
For the current term ending Nov 2013 the recurring profit is projected
at Yen 370 million and the net profit at Yen 320 million, respectively, on a 4%
rise in turnover, to Yen 16,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 157.0 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Dec 2002
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 40,000 shares
Issued: 10,000
shares
Sum: Yen
500 million
Major shareholders (%): Capital Partner 2-Go Investment (19),
House Foods Corp (11), Yamada Business Consulting (4)
No. of
shareholders: 37
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Import, export
and wholesale of cereals, feeds, livestock products, spices,
chilled fruits & vegetables, fishery products, grain-starch, frozen
horseradish, dried/fresh wasabi (stems, leaves, root), mustard, natural
essential oils, pet foods, canned/bottled foods, others (--100%).
Products are produced, processed, sorted at overseas subcontracted farms
& yards.
Clients: [Feed mills, food
processors, chain stores, specialized wholesalers] Kyodo Feed Mills, Toyohashi
Shiryo, Life Foods, Nosui Corp, Hokuto Corp, Riken Vitamin, House Foods, Mitsui
& Co, Nippon Meat Packers Inc, Hayashikane Sangyo Co, Torigoe Co, Kaneku
Wasabi Co, other.
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Growers, mfrs,
wholesalers] Imports from Vox Trading USA, Timfood, PT Java Agri-Tech, Lanna
Products (--subsidiaries), other from USA, China, Thailand, Canada, Korea,
Australia, etc.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Ningyocho)
Mizuho Bank (Marunouchi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms
Ending: |
30/11/2013 |
30/11/2012 |
30/11/2011 |
30/11/2010 |
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Annual Sales |
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16,500 |
15,906 |
16,039 |
15,550 |
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Recur. Profit |
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370 |
362 |
354 |
222 |
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Net Profit |
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320 |
307 |
350 |
161 |
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Total Assets |
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8,363 |
8,016 |
7,797 |
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Current Assets |
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7,020 |
6,686 |
6,521 |
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Current Liabs |
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6,118 |
5,614 |
5,259 |
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Net Worth |
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1,107 |
834 |
572 |
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Capital, Paid-Up |
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500 |
0 |
500 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.73 |
-0.83 |
3.14 |
-7.43 |
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Current Ratio |
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.. |
114.74 |
119.10 |
124.00 |
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N.Worth Ratio |
.. |
13.24 |
10.40 |
7.34 |
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R.Profit/Sales |
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2.24 |
2.28 |
2.21 |
1.43 |
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N.Profit/Sales |
1.94 |
1.93 |
2.18 |
1.04 |
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Return On Equity |
.. |
27.73 |
41.97 |
28.15 |
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Notes: Forecast (or estimated) for the 30/11/2013 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.