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Report Date : |
10.09.2013 |
IDENTIFICATION DETAILS
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Name : |
LACTO JAPAN CO LTD |
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Registered Office : |
Neo Kawai Bldg 3F, 4-8-15 Nihombashi-Honcho Chuoku Tokyo 103-0023 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2012 |
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Date of Incorporation : |
May 1998 |
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Com. Reg. No.: |
0100-01-051615 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports, exports and wholesales dairy & meat products:
dairy ingredients used to produce ice-cream, yogurt, and other products,
processed meat products, cheese |
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No. of Employees : |
69 |
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 : |
Satisfactory |
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Payment Behaviour : |
Slow but 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 – 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.
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Source : CIA |
LACTO JAPAN CO LTD
KK Lacto Japan
Neo Kawai Bldg 3F,
4-8-15 Nihombashi-Honcho Chuoku Tokyo 103-0023 JAPAN
Tel:
03-6214-3831 Fax: 03-6214-3721
URL: http//:www.lactojapan.com
E-mail: sales@lactojapan.com
Import,
export, wholesale of dairy products, livestock products
Singapore,
Melbourne, Los Angeles, Amsterdam; Italy, China, Malaysia
(subcontracted)
SHIGERU
YASUMI, PRES Jun Ishii, dir
Motohisa
Miura, dir Masayuki
Maekawa, dir
Yen
Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 55,200 M
PAYMENTSSLOW
BUT CORRECT CAPITAL Yen 465 M
TREND SLOW WORTH Yen 5,664 M
STARTED 1998 EMPLOYES 69
TRADING
FIRM SPECIALIZING IN DAIRY PRODUCTS & MEAT PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject
company was established by Shigeru Yasumi and partners in order to make most of
their experience in foreign trading.
This is a trading firm specializing in import, export and wholesale of
dairy ingredients, cheese, processed meat products, other (See OPERATION). Operates 5 overseas subsidiaries and 2
agencies. Goods are imported from
Europe, USA, China, Australia, other.
Clients include major dairy products mfrs, nationwide.
The sales volume for Nov/2012
fiscal term amounted to Yen 55,200 million, a 2% down from Yen 56,088 million in
the previous term. Import volumes were
increased but high Yen hurt sales earnings in Yen terms and sales earnings
declined. The recurring profit was
posted at Yen 786 million and the net profit at Yen 422 million, respectively,
compared with Yen 1,493 million recurring profit and Yen 845 million net
profit, respectively, a year ago. .
For
the current term ending Nov 2013 the recurring profit is projected at Yen 800
million and the net profit at Yen 450 million, respectively, on a 5% rise in
turnover, to Yen 58,000 million. Imports
continue rising.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: May 1998
Regd No.: 0100-01-051615 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 5,424 shares
Issued: 3,918.2 shares
Sum: Yen
465.53 million
Major shareholders (%): Hajime Yasumi (10.8), Meiji
Dairies (2.5), Morinaga Milk (2.5), Yotsuba Milk Products (2.5), Wakodo Co
(2.5), other
No. of shareholders: 37
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales dairy
& meat products: dairy ingredients used to produce ice-cream, yogurt, and
other products, processed meat products, cheese, other (--100%).
(Handling Items): Full cream milk powder, skimmed
milk powder, butter, cream, whey powder, WPC (whey protein concentrate),
casein, caseinate, prepared milk powder mixtures (for ice cream, dairy
beverages, chocolate, etc.), prepared butter mixtures (for margarine and ice
cream), other prepared dairy mixtures (ingredients for milk powder for infant
formula, prepared condensed milk, etc.), ice cream, lactose, processed meat
products, fresh meat (for table use and for processing), cheeses
Clients: [Dairy food producers, wholesalers]
Yonekyu Corp (17.9%), Morinaga Milk Ind (6.2%), Meiji Dairies Corp (5.2%),
Megmilk Snow Brand Co (4.5%), Lotte Co (3.7%), Glico Dairy Products, MK Cheese,
other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Seaboard Foods
(20.9%), Lacto Japan Asia (12.9%), TS Corporation (8.1%), Tatura Milk
Industries, Yotsuba Co, other.
Payment record: Slow
but correct
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Kanda-Ekimae)
Resona
Bank (Kanda)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/11/2013 |
30/11/2012 |
30/11/2011 |
30/11/2010 |
|
|
Annual
Sales |
|
58,000 |
55,200 |
56,088 |
46,410 |
|
Recur.
Profit |
|
800 |
786 |
1,493 |
875 |
|
Net
Profit |
|
450 |
422 |
845 |
565 |
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Total
Assets |
|
|
21,894 |
22,662 |
19,960 |
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Current
Assets |
|
|
20,338 |
20,954 |
18,424 |
|
Current
Liabs |
|
|
11,569 |
12,228 |
10,429 |
|
Net
Worth |
|
|
5,664 |
5,169 |
4,368 |
|
Capital,
Paid-Up |
|
|
465 |
465 |
465 |
|
Div.Ttl
in Million (¥) |
|
|
0.00 |
61 |
60 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.07 |
-1.58 |
20.85 |
0.45 |
|
|
Current Ratio |
|
.. |
175.80 |
171.36 |
176.66 |
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N.Worth Ratio |
.. |
25.87 |
22.81 |
21.88 |
|
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R.Profit/Sales |
|
1.38 |
1.42 |
2.66 |
1.89 |
|
N.Profit/Sales |
0.78 |
0.76 |
1.51 |
1.22 |
|
|
Return On Equity |
.. |
7.45 |
16.35 |
12.93 |
|
Notes: Forecast (or estimated) figures for the
30/11/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.64.21 |
|
UK Pound |
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
RATING EXPLANATIONS
|
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 |
|
<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.