MIRA INFORM REPORT

 

 

Report Date :

05.03.2013

 

IDENTIFICATION DETAILS

 

Name :

CRESCENT FOODS CORPORATION

 

 

Registered Office :

City Square Tsukiji 703, 6-4-5 Tsukiji Chuoku Tokyo 104-0045

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

January  2008

 

 

Com. Reg. No.:

0100-01-042195 (Tokyo-Chuoku)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, export, wholesale of frozen seafood, frozen vegetables & fruits

 

 

No. of Employees :

4

 

 

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

COMPANY NAME AND ADDRESS

 

CRESCENT FOODS CORPORATION

REGD NAME:    KK Crescent Foods

MAIN OFFICE:  City Square Tsukiji 703, 6-4-5 Tsukiji Chuoku Tokyo 104-0045 JAPAN

Tel: 03-5148-1337      Fax: 03-5148-1338

 

URL:                 http://www.crescent-foods.com

E-Mail address: (thru the URL)

 

ACTIVITIES:     Import, export, wholesale of frozen seafood, frozen vegetables & fruits

BRANCHES:     Nil

 

OFFICERS:       HIROMITSU SODA, PRES

                        Yasuhiro Nakagawa, s/mgn dir   

           

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY:       FINANCES        FAIR                 A/SALES          Yen 540 M

                                    PAYMENTS      REGULAR         CAPITAL           Yen 30 M

                                    TREND             UP                    WORTH                        Yen 38 M

                                    STARTED         2008                 EMPLOYES      4

 

COMMENT:      TRADING FIRM SPECIALIIZNG IN FROZEN SEAFOODS & VEGETABLES.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

                        MAX CREDIT LIMIT: YEN 9.9 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS:

           

            The subject company was established by Hiromitsu Soda in order to make most of his experience in the subject line of business.  This is a trading firm for import, export and wholesale of frozen seafoods, frozen vegetables & fruits (See OPERATION).  Goods are imported from China, Asia, EU, Canada, S/E Asia, other; and exports mackerel, sanma (Pacific saury), ikura (salmon roe), tuna, natto (fermented soybeans) to these countries. 

 

 

FINANCIAL INFORMATION:

           

            Financials are only partially disclosed.

 

The sales volume for Mar/2012 fiscal term amounted to Yen 540 million, a 13% up from Yen 480 million in the previous term.  Client’s networks expanded.  Imports were robust.  The net profit was posted at Yen 8 million, compared with Yen 3 million a year ago.

 

            For the current term ending Mar 2013 the net profit is projected at Yen 10 million, on a 4% rise in turnover, to Yen 560 million.  Business is seen expanding steadily. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 9.9 million, on 30 days normal terms.

REGISTRATION

 

Date Registered:  Jan 2008

Regd No.:         0100-01-042195 (Tokyo-Chuoku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         2,400 shares

Issued:                600 shares

Sum:                   Yen 30 million

Major shareholders (%): Hiromitsu Soda (51), Canadian Clients’ S/Holding Assn (30), Yasuhiro Nakagawa (19)

No. of shareholders: 3

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION:

           

Activities: Imports, exports and wholesales frozen seafoods, frozen vegetables & fruits (--100%)

 

Imports: octopus, halibut, snow crab, red fish, Northern shrimp, Albacore tune, cattle fish, spear squid, cultured Vanamei shrimp, cultured black tiger shrimp, sea shrimp, seafood mix, soft-shell crab, breaded shrimp, shrimp tempura, cooked clam, hoki, yellow tail, dried anchovy, frozen vegetables & fruits, frozen Chinese snacks, others

Exports: mackerel, Pacific saury (sanma), salmon roe (ikura), tune, fermented soybeans (natto), other

 

Clients: [Mfrs, wholesalers] Exports to: China, USA, Australia, Canada, Hong Kong, Thailand, Myanmar, Vietnam, UE, Singapore, other 

Domestically: Kyowa Co, Skylark Group Inc, Yaoko Co, other food stores, wholesalers, other

No. of accounts: 300 (Japanese clients)

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Imports from USA, Canada, EU, Australia, Singapore, Thailand, China, Hong Kong, Taiwan, Korea, Myanmar, Vietnam, India, Indonesia, Malaysia, other

Domestically: Hamasho Co, other

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

Mizuho Bank (Nihombashi)

Higashi Nippon Bank (Tsukishima)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

　

560

540

480

400

Recur. Profit

　

..

..

..

..

Net Profit

　

10

8

3

-2

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

38

30

27

Capital, Paid-Up

　

　

30

30

30

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.70

12.50

20.00

33.33

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

1.79

1.48

0.63

-0.50

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/03/2013 fiscal term.

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.