|
Report Date : |
01.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
DISPEN PAK JAPAN INC |
|
|
|
|
Registered Office : |
1255 Wadagahara Minami-Ashigara City Kanagawa-Pref 250-0112 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.11.2012 |
|
|
|
|
Date of Incorporation : |
Oct 1986 |
|
|
|
|
Com. Reg. No.: |
0210-01-035545 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer of food
packaging “Dispen Pak”, and foods: mayonnaise, dressings, dairy products,
jams |
|
|
|
|
No. of Employees : |
100 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaint |
|
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 |
|
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 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 |
DISPEN PAK JAPAN
INC
REGD NAME
KK Dispen Pak
Japan
MAIN OFFICE
1255 Wadagahara
Minami-Ashigara City Kanagawa-Pref 250-0112 JAPAN
Tel:
0465-72-1511 Fax: 0465-72-1517
URL: http://www.dpj.co.jp
E-Mail
address: (thru the URL)
Mfg of
food Dispen Pak
Tokyo
(Shibuyaku)
At the
caption address, Fujiyoshida (Yamanashi-Pref)
MITSUGU
NAGASHIMA, PRES Yoshitaka Etoh, mgn dir
Gunjiro
Asai, dir Mitsumasa
Takeda, dir
Makoto
Wakabayashi, dir Susumu
Tanaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 4,618 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 140 M
TREND UP WORTH Yen 2,015 M
STARTED 1986 EMPLOYES 100
MFR OF DISPEN PAK.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established jointly by three parties: Kewpie Corp, Mitsubishi Corp and
Dia Packaging Corp (now Mitsubishi Shoji Packaging Corp), upon obtaining patent
licenses from Sanford Redmond USA, at paid-in capital of Yen 10 million,
starting at Kewpie’s Senkawa Factory.
The location was moved to the captioned in 1997, and the capital was
increased to Yen 140 million in Apr/2000.
This is a specialized mfr of food packaging “Dispen Pak” food:
mayonnaise, dressing, dairy products, jam, other. This is a consolidate subsidiary of Kewpie
Corp. Goods are shipped to Kewpie Corp
(95%) and Mitsubishi Corp for marketing. & distribution.
The sales volume for Nov/2012
fiscal term amounted to Yen 4,618 million, an 8% up from Yen 4,259 million in
the previous term. At Kewpie side, the
mainstay mayonnaise and dressings enjoyed brisk sales, up 4% from the previous
term. The net profit was posted at Yen
295 million, compared with Yen 236 million a year ago.
For the
current term ending Nov 2013 the net profit is projected at 310 million, on a
5% rise in turnover, to Yen 4,850 million.
Business is seen expanding steadily
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Oct 1986
Regd No.: 0210-01-035545
(Kanagawa-Minamiashigara)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 11,200 shares
Issued:
2,800 shares
Sum: Yen
140 million
Major shareholders (%): Kewpie Corp* (51), Mitsubishi
Corp** (39), Mitsubishi Shoji Packaging Corp (10)
No. of shareholders: 3
*.. Kewpie Corp, largest mfr of
mayonnaise & salad dressings, Tokyo, founded 1919, listed Tokyo S/E,
capital Yen 24,104 million, sales Yen 504,997 million, operating profit Yen
23,368 million, recurring profit Yen 24,467 million, net profit Yen 12,291
million, total assets Yen 300,848 million, net worth Yen 173,832 million,
employees 12,348, pres Minesaburo Miyake
** Mitsubishi Corp, largest
trading house and one of core firms of Mitsubishi group, Tokyo, founded 1950,
listed Tokyo S/E, capital Yen 204,447 million, sales Yen 20,207,183 million,
operating profit Yen 133,875 million, recurring profit Yen 337,206 million, net
profit Yen 360,028 million, total assets Yen 14,410,665 million, net worth Yen
4,556,050 million, employees 6,383, pres Ken Kobayashi
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Mfg of food packaging “Dispen Pak”,
and foods: mayonnaise, dressings, dairy products, jams, others (--100%)
Clients: [Mfrs, wholesalers] Kewpie Corp (95%),
Mitsubishi Corp (5%)
No. of
accounts: 500 (for distribution)
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Shoji
Packaging Corp, Kewpie Corp, Fuji Oil Co, Aohata Corp, other
Payment record: No
Complaints
Location:
Business area in Kanagawa. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
(Shinjukudori)
Mizuho
Bank (Shinjuku)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/11/2013 |
30/11/2012 |
30/11/2011 |
30/11/2010 |
|
|
Annual
Sales |
|
4,850 |
4,618 |
4,259 |
4,315 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
310 |
295 |
236 |
143 |
|
Total
Assets |
|
|
3,027 |
2,786 |
2,819 |
|
Current
Assets |
|
|
1,086 |
861 |
870 |
|
Current
Liabs |
|
|
968 |
1,011 |
1,270 |
|
Net
Worth |
|
|
2,015 |
1,725 |
1,494 |
|
Capital,
Paid-Up |
|
|
140 |
140 |
140 |
|
Div.P.Share(¥) |
|
|
9.00 |
9.00 |
9.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.02 |
8.43 |
-1.30 |
127.95 |
|
|
Current Ratio |
|
.. |
112.19 |
85.16 |
68.50 |
|
N.Worth Ratio |
.. |
66.57 |
61.92 |
53.00 |
|
|
R.Profit/Sales |
|
.. |
.. |
.. |
.. |
|
N.Profit/Sales |
6.39 |
6.39 |
5.54 |
3.31 |
|
|
Return On Equity |
.. |
14.64 |
13.68 |
9.57 |
|
Notes:
Forecast (or estimated) figures for the 30/11/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
UK Pound |
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.