MIRA INFORM REPORT
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Report Date : |
10.05.2013 |
IDENTIFICATION DETAILS
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Name : |
FUJI FOODS INC |
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Registered Office : |
24-3 Takasecho Funabashi Chiba-Pref
273-0014 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
November 1963 |
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Com. Reg. No.: |
0400-01-018558
(Chiba-Funabashi) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of
prepared/cooked foods |
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No. of Employees : |
575 |
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
FUJI FOODS INC
Fuji Foods KK
24-3 Takasecho
Funabashi Chiba-Pref 273-0014 JAPAN
Tel:
047-434-5085
URL: http://www.fuji-foods.com
E-Mail address: (thru the URL)
Mfg of
prepared/cooked foods
Yokohama,
Akita, Ichinomiya, other (Tot12)
Taiwan
Funabashi
(2), Sendai (2), Kanagawa, Sodegaura, Mito, Yachiyo, Akita, Fukushima, other
TAKESHIRO
OMURA, PRES Chikasaburo Omura, ch
Keishi
Yabe, s/mgn dir Masayuki
Itoh, mgn dir
Sumio Hasegawa,
mgn dir Hitoshi Ando, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 68,261 M
PAYMENTS REGULAR CAPITAL Yen
6,549 M
TREND UP WORTH Yen 14,549 M
STARTED 1963 EMPLOYES 575
MFR OF PREPARED/COOKED FOODS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by a certain Omura in order to make most of his experience in the subject line of business, and has been succeeded by his descendants. This is a specialized mfr of prepared/cooked foods, others. Clients include supermarkets, chain stores, food shops, other
The sales volume for Mar/2012 fiscal term amounted to Yen 68,261 million, a 13% up from Yen 60,475 million in the previous term. Sales rose after the Great North Japan Earthquake in Mar 2011, where many lost homes and lived in separate place with foods prepared. The recurring profit was posted at Yen 2,325 million and the net profit at Yen 1,244 million, respectively, compared with Yen 1,166 million recurring profit and Yen 962 million net profit, respectively, a year ago.
For the term that ended Mar 2013 the recurring profit was projected at Yen 2,400 million and the net profit at Yen 1,300 million, respectively, on a 3% rise in turnover, to Yen 70,300 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Nov 1963
Regd No.: 0400-01-018558 (Chiba-Funabashi)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
52 million shares
Issued:
13,098,500 shares
Sum: Yen 6,549 million
Major shareholders (%): Variant Partners, others
(Details undisclosed)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures prepared/cooked foods (100%)
Clients: [Mfrs, wholesalers] Seven Eleven Japan, Global Foods, Vender Service, Sojitz Foods, Japan Delica Foods Coop, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Japan Delica Foods Coop, Ajinomoto Bakery, Global Foods, Kewpie Corp, other
Payment record: Regular
Location: Business area in Funabashi. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC (Funabashi)
MUFG (Funabashi)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
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70,300 |
68,261 |
60,475 |
55,535 |
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Recur.
Profit |
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2,400 |
2,325 |
1,166 |
1,483 |
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Net
Profit |
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1,300 |
1,244 |
962 |
479 |
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Total
Assets |
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35,205 |
34,932 |
34,039 |
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Current
Assets |
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10,931 |
8,248 |
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Current
Liabs |
|
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8,555 |
14,998 |
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Net
Worth |
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14,549 |
18,051 |
15,875 |
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Capital,
Paid-Up |
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|
6,549 |
6,549 |
6,541 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.99 |
12.87 |
8.90 |
-29.34 |
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Current Ratio |
|
.. |
127.77 |
54.99 |
.. |
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N.Worth Ratio |
.. |
41.33 |
51.67 |
46.64 |
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R.Profit/Sales |
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3.41 |
3.41 |
1.93 |
2.67 |
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N.Profit/Sales |
1.85 |
1.82 |
1.59 |
0.86 |
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Return On Equity |
.. |
8.55 |
5.33 |
3.02 |
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Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.24 |
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UK Pound |
1 |
Rs.84.30 |
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Euro |
1 |
Rs.71.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.