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Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
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Name : |
COSMO FOODS CO LTD |
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Registered Office : |
100-19 Fujiyama Komagata Mizuhomachi Nishi-Tamagun Tokyo-Metrop
190-0202 |
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Country : |
Japan |
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Date of Incorporation : |
April 1990 |
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Com. Reg. No.: |
0131-01-003069
(Tokyo-Nishitamagun-Mizuhomachi) |
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Legal Form : |
Limited Company |
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Line of Business : |
Processor of meat (beef, pork, chicken, ram, other) |
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No. of Employees : |
08 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source
: CIA |
COSMO FOODS CO LTD
Cosmo Foods KK
100-19 Fujiyama Komagata Mizuhomachi Nishi-Tamagun Tokyo-Metrop 190-0202
JAPAN
Tel:
042-556-8911 Fax: 042-556-8915
URL: http://www.cosmo-meat.co.jp
E-mail address: (thru the URL)
Processor
of meat (beef, pork, chicken, ram, other)
Nil
At the
caption address
KUNIO
YAMADA, PRES
Shigeru
Yamada, dir
Eriko
Yamada, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES WEAK A/SALES Yen 750 M*
PAYMENTSUnknown
CAPITAL Yen 50 M
TREND SLOW WORTH Yen 50 M**
STARTED 1990 EMPLOYES 8
*.. Figures as at Dec/2010
fiscal term; **.. Expressed by the paid-in capital
MEAT PROCESSOR.
FINANCIAL SITUATION CONSIDERED WEAK AND SPECIAL HEED IS REQUIRED FOR BUSINES ENGAGEMENTS.
The subject company was established by Kunio Yamada in order to make most of his experience in the subject line of business. This is a meat processor, beef, port, chicken, ram, other. In Sept 2007 the firm went bankrupt with liabilities at Yen 1,500 million, turnover Yen 6,167 million for Mar/2007 fiscal term, and filed for protection under the Civil Rehabilitation Law. In May 2008, approved under the Law and in May 2011 a decision of approval of a rehabilitation plan was made under Article of 174, paragraph (1) of the Rehabilitation Act, and commenced operations. Subsequently, the firm issued a bad draft in Dec and was ordered to suspend transactions on 18/Dec/2012.
Financials are only partially
disclosed. Financials for Mar/2011
fiscal term are not made available, as commenced reoperations from May 2011.
Date Registered: Apr 1990
Regd No.: 0131-01-003069
(Tokyo-Nishitamagun-Mizuhomachi)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,000 shares
Issued:
1,000 shares
Sum: Yen 50 million
Major shareholders (%): Kunio Yamada & families
(--100%)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Meat processor:
beef, port, chicken, ram, other (--100%)
Clients: [Mfrs,
wholesalers] Food Rink Co (20%), Jojoen Co, Senzan Co, Chanto Co, Tachi-S Co,
Create Restaurants, other (--Old
customers)
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Food Rink Co, S Foods, Kanto Nippon Food, Starzen Co, Shinpoh
Foods, other (--Old suppliers)
Payment record:
Unknown
Location:
Business area in Nishi-Tamagun, Tokyo-Metrop.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
MUFG
(Fussa)
Mizuho
Bank (Higashi-Ohme)
Relations:
Money deposits & transfers only
(In Million Yen)
Not disclosed and unavailable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.77 |
|
UK Pound |
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.