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Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
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Name : |
NISSHOKU CO LTD |
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Registered Office : |
Nisshoku Bldg 4F, 9-10 Nozakicho Kitaku Osaka 530-005 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2013 |
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Date of Incorporation : |
February 1955 |
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Com. Reg. No.: |
1206-01-068531 (Osaka-Kitaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of foodstuffs, beer, wines, whisky. |
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No. of Employees : |
213 |
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 : |
No complaints |
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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 |
|
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
NISSHOKU CO LTD
REGD NAME: KK Nisshoku
MAIN OFFICE: Nisshoku Bldg 4F, 9-10 Nozakicho Kitaku Osaka 530-005 JAPAN
Tel: 06-6313-1341 Fax: 06-6315-6503
URL: http://www.nisshoku-foods.co.jp
E-Mail address: marketing@nisshoku-foods.co.jp
Import, export, wholesale of foodstuffs, beer, wines, whisky, other
Tokyo, Sapporo, Hiroshima, Fukuoka, Sendai
MITSUTAKA NAKAMURA, PRES
Kozo Nakamura, v pres Tomohiro Nakamura, s/mgn dir
Fumio Hosoi, dir Takeshi Matsuba, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 9,553 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 200 M
TREND UP WORTH Yen 1,240 M
STARTED 1955 EMPLOYES 213
TRADING FIRM SPECIALIZING IN FOODSTUFFS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 175.8 MILLION, 30 DAYS NORMAL TERMS
This is a leading foodstuff wholesaler established by Kikuji Nakamura in order to make most of his experience in the subject line of business. Present executives are his descendants. This is a trading firm specializing in import, export and wholesale of foodstuffs: wines, beer, confectionary, canned/bottled foods, jam, teas, coffees, other. Goods are imported mostly thru general trading houses. Clients include department stores, hotels, restaurants, other
Financial are only partially disclosed as is the case with family-based companies.
The sales volume for Jan/2013 fiscal term amounted to Yen 9,553 million, a 6% up from Yen 9,039 million in the previous term. Quality wine imports increased. The net profit was posted at Yen 30 million, compared with Yen 25 million a year ago.
For the current term ending Jan 2014 the net profit is projected at Yen 35 million, on a 5% rise in turnover, to Yen 10,050 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 175.8 million, on 30 days normal terms.
Date Registered: Feb 1955
Regd No.: 1206-01-068531 (Osaka-Kitaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.6 million shares
Issued: 400,000 shares
Sum: Yen 200 million
Major shareholders (%): Mitsutaka Nakamura (Breakdown unavailable)
No. of shareholders: 97
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales foodstuffs: confectionery, whiskies, beers, wines, canned/bottled foods, jam, teas, coffees, other foodstuffs (--100%)
Clients: [Department stores, chain stores, wholesalers] Mitsukoshi Isetan, Daimaru, Sogo Seibu, Hanshin Department Store, Takashimaya, Hankyu Department Store, Kinokuniya, Sony Plaza, Seijo Ishii, other
No. of accounts: 300Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Itochu Shokuhin, Kokubu, Meidi-Ya, Jardin Swire & Sons, Mitsui & Co, Nestle Japan, Wedgewood, Robert Giraud, other
Payment record: No complaints
Location: Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References: SMBC (Dojima)
MUFG (Umeda)
Relations: Satisfactory
(In Million Yen)
|
Terms
Ending: |
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31/01/2014 |
31/01/2013 |
31/03/2012 |
31/01/2012 |
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Annual
Sales |
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10,050 |
9,553 |
9,039 |
8,506 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
35 |
30 |
25 |
25 |
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Total
Assets |
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|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
1,240 |
1,220 |
1,200 |
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Capital,
Paid-Up |
|
|
200 |
200 |
200 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
5.20 |
5.69 |
6.27 |
3.58 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
0.35 |
0.31 |
0.28 |
0.29 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/01/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
|
|
1 |
Rs.100.86 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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 |
|
-- |
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.