MIRA INFORM REPORT

 

 

Report Date :

07.08.2014

 

IDENTIFICATION DETAILS

 

Name :

EBISHO KK

 

 

Registered Office :

Ebisho Honsha Bldg, 7-17-10 Nishishinjuku Shinjukuku Tokyo 160-0023

 

 

Country :

Japan

 

 

Financials (as on) :

30.06.2014

 

 

Date of Incorporation :

December 1952

 

 

Com. Reg. No.:

0111-01-003380

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of fresh/frozen fish, lobster, fruits & vegetables

 

 

No of Employees :

364

 

 

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

 

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. Prime Minister Shinzo ABE has declared the economy his government's top priority; he has overturned his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans Pacific Partnership negotiations in 2013, a pact that would open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. 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 is exceeding 230% of GDP. To help raise government revenue and reduce public debt, Japan decided in 2013 to gradually increase the consumption tax to a total of 10% by the year 2015. Japan is making progress on ending deflation due to a weaker yen and higher energy costs, but reliance on exports to drive growth and an aging, shrinking population pose other major long-term challenges for the economy

 

Source : CIA

 

 

COMPANY NAME:

 

EBISHO KK

 

 

REGD NAME:

 

Ebisho KK

 

 

MAIN OFFICE:    

 

Ebisho Honsha Bldg, 7-17-10 Nishishinjuku Shinjukuku Tokyo 160-0023 JAPAN

Tel: 03-3371-3181     Fax: 03-3366-2737

 

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

E-mail:             (thru the URL)   

 

 

ACTIVITIES: 

 

Import, wholesale of fresh/frozen fish, lobster, fruits & vegetables

 

 

BRANCHES:  

 

Osaka, Kyoto, Nagoya, Chiba, Saitama, Takasaki, Nagano, other (Tot 15)

 

 

FACTORIES: 

 

(subcontracted for processing)

 

 

OFFICER(S): 

 

TAKASHI USAMI, PRES            Hisashi Tanabe, mgn dir            

      Yusuke Usami, mgn dir                    Chika Usami, dir

      Keiko Usami, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY:   

 

FINANCES        FAIR                             A/SALES          Yen 23,937 M

PAYMENTSNO COMPLAINTS    CAPITAL           Yen 21 M

TREND UP                                WORTH            Yen 6,142 M

STARTED         1952                             EMPLOYES      364

 

 

COMMENT:   

 

IMPORTER OF LOBSTER, FISH, FRUITS & VEGETABLES 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

 

HIGHLIGHTS:

           

The subject company was established by father of Takashi Usami in order to make most of his experience in the subject line of business.  This is a trading firm, owned & operated by the Usami families, for import and wholesale of live lobster, prawns, fresh/frozen fish & shellfish, fresh/frozen fruits & vegetables, other.  Imports live spiny lobster from Canada centrally.  Clients include hotels, restaurants, fish markets, department stores, other, nationwide.

 

 

FINANCIAL INFORMATION:

 

Financials are only partially disclosed as from the 30/06/2012 fiscal term.

 

The sales volume for Jun/2013 fiscal term amounted to Yen 23,937 million, a 2% up from Yen 23,430 million in the previous term.  Lobster prices kept rising.  The net profit was posted at Yen 150 million, compared with Yen 148 million a year ago. 

 

For the term that ended Jun 2014 the net profit was projected at Yen 160 million, on a 5% rise in turnover, to Yen 21,150 million.  Final results are yet to be released. 

 

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

 

 

REGISTRATION:

 

Date Registered:                                  Dec 1952

Regd No.:                                 0111-01-003380 (Tokyo-Shinjukuku)

Legal Status:   　                     Limited Company (Kabushiki Kaisha)

Authorized:      　                     80,000 shares

Issued:             　                     42,000 shares

Sum:                　                     Yen 21 million

Major shareholders (%):                       Takashi Usami (30), and Usami families

No. of shareholders:                7

           

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

 

 

OPERATION:

 

Activities: Imports and wholesales live lobster, prawn, frozen lobster/prawn/shrimp, fresh & frozen fish, shellfish, octopus, crab, fish roe, processed seafoods, fresh & frozen fruits & vegetables, other (--100%).

 

 

Clients: [Hotels, restaurants] Imperial Hotel, Tokyo Dome restaurants, Tohoku Ebisho (subsidiary), Toh-Ten-Koh Restaurant, Hilton Hotel, Keio Department Stores, Tokyu Department Stores, Skylark Restaurant, Oriental Land, Keio Plaza Hotel, Tokyu Hotels, Sky Lark, other.

No. of accounts: 800

Domestic areas of activities: Nationwide

 

Suppliers: [Fisheries, wholesalers] Toyota Tsusho Corp, Mitsui & Co, Maruha Nichiro Holdings, Daito Gyorui, Toto Suisan, other.

Imports from Clear Water Seafoods (Canada), 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 (Shinjuku-Nishiguchi)

                        SMBC (Shinjuku-Nishiguchi)

                        Relations: Satisfactory

 

 

FINANCES: (In Million Yen)

 

Terms Ending:

　

30/06/2014

30/06/2013

30/06/2012

30/06/2011

Annual Sales

　

25,150

23,937

23,430

21,855

Recur. Profit

　

..

..

..

..

Net Profit

　

160

150

148

379

Total Assets

　

　

N/A

N/A

9,411

Net Worth

　

　

6,142

6,037

5,933

Capital, Paid-Up

　

　

21

21

21

Div.Ttl in Million (¥)

　

　

4.2

4.2

4.2

<Analytical Data>

　

(%)

(%)

(%)

(%)

    S.Growth Rate

　

5.07

2.16

7.21

-5.97

    Current Ratio

　

　

..

..

..

    N.Worth Ratio

　

　

..

..

63.04

    N.Profit/Sales

　

0.64

0.63

0.63

1.73

 

Notes: Financials are only partially disclosed as from the 30/06/2012 fiscal term.

Forecast (or estimated) figures for the 30/06/2014 fiscal term. 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 61.33

UK Pound

1

Rs. 103.43

Euro

1

Rs. 81.96

 

 

INFORMATION DETAILS

 

Analysis Done by :

KRN

 

 

Report Prepared by :

DPT

 

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.