MIRA INFORM REPORT

 

 

Report Date :

31.10.2013

 

IDENTIFICATION DETAILS

 

Name :

SUZUSHO LTD

 

 

Registered Office :

23 Arakicho Shinjukuku Tokyo 160-0007

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

April, 1954

 

 

Com. Reg. No.:

(Tokyo-Shinjukuku) 010522

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of confectionery, beverages, dairy products, other

 

 

No. of Employees :

60

 

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 Complaints

 

 

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

 

company name

 

SUZUSHO LTD

 

 

REGD NAME 

 

KK Suzusho

 

 

MAIN OFFICE

 

23 Arakicho Shinjukuku Tokyo 160-0007 JAPAN

Tel: 03-3225-1161     Fax: 03-3225-1160

                       

URL:                             http://www.suzusho.co.jp

E-Mail address:            I.Suzuki@suzusho.co.jp

 

 

ACTIVITIES

 

Import, wholesale of confectionery, beverages, dairy products, other

 

 

BRANCHES   

 

Tokyo (2)

 

 

FACTORIES) 

 

Kawasaki (warehouse)

 

 

OFFICERS

 

Koushi Suzuki, ch                      ISSEI SUZUKI, PRES

Masaaki Isezaki, mgn dir            Mitsuhiro Hasegawa, dir            

Hidemi Sakurai, dir                    Hiroshi Hattori, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 5,435 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 72 M

TREND             SLOW                           WORTH            Yen 2,202 M

STARTED         1954                             EMPLOYES      60

 

 

COMMENT    

 

IMPORTER AND WHOLESALER SPECIALIZING IN CONFECTIONERY & OTHER FOODSTUFFS.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

 

This is an old-established trading firm dating back to 1919 when Shiro Suzuki started       producing syrup & cold beverages, on his account.  In this year, started importing various    essences and flavorings from Bayern (Germany) and John Elmer (UK).  Incorporated in 1954,       the firm has been succeeded by his descendants.  Koushi is the founder’s son and Issei his             grandson, who took the pres office in Mar 1992.  Specializes in import and wholesale of con-      fectionery in the main, dairy products (raw materials), prepared foods, other foodstuffs.  Goods are imported widely from USA, Canada, UK, France, Italy, Spain, Germany, Switz, Netherlands,          Portugal, Rumania, other.  Clients are major foodstuff traders nationwide.

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2013 fiscal term amounted to Yen 5,435 million, a 2% down from Yen 5,570 million in the previous term.  The recurring profit was posted at Yen 106 million and the net profit at Yen 61 million, respectively, compared with Yen 75 million recurring profit and Yen 33 million net profit, respectively, a year ago.

 

For the current term ending Mar 2014 the recurring profit is projected at Yen 110 million and the net profit at Yen 65 million, respectively, on a 3% rise in turnover, to Yen 5,600 million.

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:           Apr 1954

Regd No.:                     (Tokyo-Shinjukuku) 010522

Legal Status:                 Limited Company (Kabushiki Kaisha)

Authorized:                  576,000 shares

Issued:                         144,000 shares

Sum:                            Yen 72 million

Major shareholders (%): Koushi Suzuki (35), Issei Suzuki (30), Employees’ S/Holding  Assn (8), Seishi Suzuki (7)

No. of shareholders: 21

 

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

 

 

OPERATION

 

Activities: A trading house for import, export, wholesale and warehousing of confectionery & foodstuffs (--100%)

 

(Handling items): Bakery & snack foods, beverages & alcohols, canned/bottled pre-served foods, cereals, chocolates & confectioneries, cheese & dairy products (raw materials), frozen & fresh produces, prepared foods & specialties, processed meat products, cosmetics, others.

 

 

Clients: [Food processors, food dealers] Kokubu & Co, Nichirei Corp, Italian Foods, Sanyu Shokuhin, Being Co, Jokki Co, Imado Corp, Takanashi Milk Products, Muroi Trading, Meidi-Ya Trading, Wataru & Co, other.

No. of accounts: 500

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Imports from Citadell Maple Syrup, Royal Buisman, PJ Rhodes Corp, General Mills, Zingg & Co, Hero Switzerland, Ermes Fontana, Agros Nova Co, Bio Famila AG, Bornholms Konsevesfabrik A/S, Joe Int’l, Tengu & Co, Bluebird Confectionery, Fiorentini Alimentari Spa, General Mills, Con Agra Foods Inc, other.         Domestically, supplied from Hero Japan, Oritz Japan, other.

 

Payment record: No Complaints

 

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

 

Bank References:

Mizuho Bank (Yotsuya)

MUFG (Yotsuya)

Relations: Satisfactory.

 

 

FINANCES

 

 (In Million Yen)

       Terms Ending:

31/03/2014

31/03/2013

31/03/2012

31/03/2011

Annual Sales

　

5,600

5,435

5,570

5,518

Recur. Profit

　

110

106

75

86

Net Profit

　

65

61

33

26

Total Assets

　

　

6,096

5,676

5,980

Current Assets

　

　

3,884

3,465

3,664

Current Liabs

　

　

1,064

1,219

944

Net Worth

　

　

2,202

2,151

11

Capital, Paid-Up

　

　

72

72

72

Div.Ttl in Million (¥)

　

　

10.7

10.7

21.0

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.04

-2.42

0.94

-2.42

    Current Ratio

 

..

365.04

284.25

388.14

    N.Worth Ratio

..

36.12

37.90

0.18

    R.Profit/Sales

 

1.96

1.95

1.35

1.56

    N.Profit/Sales

1.16

1.12

0.59

0.47

    Return On Equity

..

2.77

1.53

1.22

 

 Note: Forecast (or estimated) for the 31/03/2014 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.49

UK Pound

1

Rs.98.71

Euro

1

Rs.84.49

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.