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Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL FEDERATION OF AGRICULTURAL COOPERATIVE ASSOCIATIONS |
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Registered Office : |
JA Bldg, 1-3-1 Ohtemachi Chiyodaku Tokyo 100-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
May 1972 |
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Com. Reg. No.: |
0100-05-000987 |
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Legal Form : |
Federation (Rengokai) |
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Line of Business : |
Agricultural products, livestock products, horticulture,
agricultural equipment, Fertilizers, oils, |
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|
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No. of Employees : |
8,154 |
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 |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 2013 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 225% 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 |
NATIONAL FEDERATION OF AGRICULTURAL COOPERATIVE
ASSOCIATIONS
REGD NAME: Zenkoku
Nogyo Kyodo Kumiai Rengokai
MAIN OFFICE: JA
Bldg, 1-3-1 Ohtemachi Chiyodaku Tokyo 100-0004 JAPAN
Tel: 03-6271-8111
URL: http://www.zennoh.co.jp
E-Mail
address: (thru the URL)
8-3 Otemachi
1-chome, Chiyoda-ku Tokyo 100-004 Japan
Agricultural
products, livestock products, horticulture, agricultural equipment,
Fertilizers, oils, other
36
locations nationwide
China,
Australia, Germany, Canada, USA, other
HITOMI
NARIKIYO, REP
Geniichi
Kamiide, rep
Masanobu
Yoshinaga, rep
(Total
11 executive officers)
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 4,825,864 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 115,281 M*
TREND UP WORTH Yen 308,027 M
STARTED 1972 EMPLOYES 8,154
*.. Investment from
members/associate members
NATIONAL FEDERATION OF AGRICULTURAL COOPERATIVES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject is a national federation of agricultural
cooperatives. It covers: rice, crops
livestock, horticulture, fertilizer, oils/fuels, agricultural machines &
equipment, other. It has 1,148,236
members and 4,660 associate members under the Association.
The sales volume for Mar/2013 fiscal term amounted to Yen
4,825,864 million, a slight up from Yen 4,802,820 million in the previous
term. The recurring profit was posted at
Yen 14,347 million, while the ended up with Yen 6,314 million net losses for
the term, including Yen 21,113 million extraordinary losses; compared with Yen
11,540 million recurring profit and Yen 14,351 million net profit,
respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is
projected at Yen 15,000 million and the net profit at Yen 13,000 million,
respectively, on a 3% rise in turnover, to Yen 4,970,000 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: May 1972
Regd No.: 0100-05-000987 (Tokyo-Chiyodaku)
Legal Status:
Federation (Rengokai)
Sum: Yen 115,281 million (Investments from
members)
Major shareholders (%): 1,148,236 members and 4,667
associate members
Nothing
detrimental is known as to the commercial morality of executives.
Activities: This is a national federation of
agriculture cooperatives association, managing, handling and operating: rice, crops,
livestock, horticulture, fertilizer, oils/fuels, agricultural machines &
equipment, other (--100%)
Clients: Agricultural associations,
economic/agricultural associations, cooperatives, wholesale markets,
supermarkets, dairy makers, trading firms, other
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Agricultural
cooperatives nationwide, Idemitsu Kosan (oils), Nissan Motor, Mitsubishi
Chemical, Kubota, other
Payment record: No
complaints
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Norin
Chukin Bank (H/O)
Mizuho
Bank (Tokyo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
4,970,000 |
4,825,864 |
4,802,820 |
4,875,864 |
|
Recur.
Profit |
|
15,000 |
14,347 |
11,540 |
14,347 |
|
Net
Profit |
|
13,000 |
-6,314 |
14,351 |
226 |
|
Total
Assets |
|
|
1,225,241 |
1,279,557 |
1,225,241 |
|
Current
Assets |
|
|
845,221 |
906,570 |
845,221 |
|
Current
Liabs |
|
|
809,620 |
855,856 |
809,620 |
|
Net
Worth |
|
|
295,532 |
308,027 |
295,532 |
|
Capital,
Paid-Up |
|
|
115,281 |
115,281 |
115,281 |
|
Div.Ttl
in Million (¥) |
|
|
3,399 |
3,399 |
1,133 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.99 |
0.48 |
-1.50 |
1.35 |
|
|
Current Ratio |
.. |
104.40 |
105.93 |
104.40 |
|
|
N.Worth Ratio |
.. |
24.12 |
24.07 |
24.12 |
|
|
R.Profit/Sales |
0.30 |
0.30 |
0.24 |
0.29 |
|
|
N.Profit/Sales |
0.26 |
-0.13 |
0.30 |
0.00 |
|
|
Return On Equity |
.. |
-2.14 |
4.66 |
0.08 |
|
Notes:
Capitals are Investments from members & associate members
Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.65 |
|
|
1 |
Rs.99.21 |
|
Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB DIV RAS SUM KAR |
|
|
|
|
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 |
|
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.