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Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
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Name : |
KYORITSU BUSSAN CO LTD |
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Registered Office : |
Lusis Bldg 8F, 2-16-1 Higashi-Shimbashi Minatoku Tokyo 105-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2012 |
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Date of Incorporation : |
April 1975 |
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Com. Reg. No.: |
0104-01-008190 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of food materials, flavors, machinery |
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No. of Employees : |
12 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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 tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. 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. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 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 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further 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 in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues 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
KYORITSU BUSSAN CO LTD
REGD NAME: Kyoritsu
Bussan KK
MAIN OFFICE: Lusis
Bldg 8F, 2-16-1 Higashi-Shimbashi Minatoku Tokyo 105-0021 JAPAN
Tel:
03-3481-9691 Fax: 03-3436-2280
URL: http://www.kyoritsubussan.co.jp
E-Mail address: (thru the URL)
Import, export,
wholesale of food materials, flavors, machinery
Nil
KOJI SHIMADA, PRES
Saburo Shimada, ch
Joji Fukuda, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,075 M
PAYMENTSUSUALLY
CORRECT CAPITAL Yen 70 M
TREND SLOW WORTH Yen 851 M
STARTED 1975 EMPLOYES 12
TRADING FIRM SPECIALIZING FOOD MATERIALS, MACHINERY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established by Saburo Shimada (now ch) in order to make most of his experience
in the subject line of business. Koji is
his son. This is a trading firm for
import, export and wholesale of food materials, flavors, machinery, others (See
OPERATION). Clients include food makers, flavor mfrs,
other.
The sales volume for
Oct/2012 fiscal term amounted to Yen 2,075 million, a shade down from Yen 2,082
million in the previous term. High Yen
hurt export revenues in Yen terms. The
recurring profit was posted at Yen 74 million and the net profit at Yen 44
million, respectively, compared with Yen 66 million recurring profit and Yen 38
million net profit, respectively, a year ago.
For the current term ending
Oct 2013 the recurring profit is projected at Yen 75 million and the net profit
at Yen 45 million, respectively, on a 4% rise in turnover, to Yen 2,150
million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr 1975
Regd No.: 0104-01-008190 (Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000 shares
Issued: 140,000 shares
Sum: Yen 70 million
Major shareholders (%): Koji Shimada
(71), Saburo Shimada (19), Momoko Shimada (10)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales food materials, flavors, machinery, others (--100%)
Import agent for: OPM Spa, FINA srl, BSA
Schneider GmbH
(Handlin
Items):
Food
Materials: chocolate cocoa, FD products, dairy products (cheese powder, EMC, LMB,
preparation), bakery products, toasted soy flakes, herbal extract, tomato products
(lycopene, fiber, conc juice), praline (hazelnuts, gianduja), others;
Flavors: essential oils,
aroma chemicals, natural chemicals, extracts, other flavors;
Machinery: molding plants,
wrapping machines, conche, enrobing lines, mixers, pre-refiner, others.
Clients: [Mfrs,
wholesalers] Mitsubishi Corp, San-Ei Gen FFI Inc, Ogawa & Co, Meiji Co,
Givaudan Japan, Takasago International Corp, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] OPM spa, FINA srl, BSA Schneider GmbH, Nielsen Co, Frutarom Group,
LycoRed, other
Payment record: Usually Correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Shimbashi-Chuo)
MUFG (Shimbashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/10/2013 |
31/10/2012 |
31/10/2011 |
31/10/2010 |
|
|
Annual
Sales |
|
2,150 |
2,075 |
2,082 |
1,905 |
|
Recur.
Profit |
|
75 |
74 |
66 |
|
|
Net
Profit |
|
45 |
44 |
38 |
30 |
|
Total
Assets |
|
|
1,292 |
1,320 |
N/A |
|
Current
Assets |
|
|
1,240 |
1,270 |
|
|
Current
Liabs |
|
|
281 |
180 |
|
|
Net
Worth |
|
|
851 |
850 |
812 |
|
Capital,
Paid-Up |
|
|
70 |
70 |
70 |
|
Div.P.Share(¥) |
|
|
|
|
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.61 |
-0.34 |
9.29 |
-3.45 |
|
|
Current Ratio |
|
.. |
441.28 |
705.56 |
.. |
|
N.Worth Ratio |
.. |
65.87 |
64.39 |
.. |
|
|
R.Profit/Sales |
|
3.49 |
3.57 |
3.17 |
.. |
|
N.Profit/Sales |
2.09 |
2.12 |
1.83 |
1.57 |
|
|
Return On Equity |
.. |
5.17 |
4.47 |
3.69 |
|
Notes: Forecast
(or estimated) figures for the 31/10/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
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 |
|
<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.