|
Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
HAMAMATSU UOICHI CO LTD |
|
|
|
|
Registered Office : |
239-1 Shingaicho Minamiku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
July, 1978 |
|
|
|
|
Com. Reg. No.: |
0804-01-003989 (Shizuoka-Hamamatsu) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, Export and Wholesale of Fish & Products |
|
|
|
|
No. of Employees : |
65 |
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 |
HAMAMATSU UOICHI CO LTD
REGD NAME: KK
Hamamatsu Uoichi
MAIN OFFICE: 239-1 Shingaicho Minamiku
Tel:
053-427-7201 Fax: 053-427-7269
E-mail address: tokuhan25@hamauo.co.jp
Import, export,
wholesale of fish & products
Nagoya, Osaka,
Okazaki
ICHIRO MIYACHI,
PRES Haruyoshi Okano, dir
Yoshitaka Kurihara, dir Mikio Takagi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 15,210 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 90 M
TREND UP WORTH Yen 519 M
STARTED 1978 EMPLOYES 65
TRADING FIRM SPECIALIZING IN FISH & FISH PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company is a trading company for import, export and
wholesale of fish & fish products, located in the Hamamatsu City Central
Wholesale Market. Fishes are imported,
live, frozen, salted, etc. Clients are
fish traders, centering in Shizuoka-Pref.
The sales volume for Mar/2014 fiscal term amounted to Yen 15,210
million, a 5% up from Yen 14,543 million in the previous term. Tuna catches decreased affected by species
preservation policy. Lobsters &
shrimps imports increased. The recurring
profit was posted at Yen 51 million and the net profit at Yen 26 million,
respectively, compared with Yen 86 million recurring profit and Yen 20 million
net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 55 million and the net profit at Yen 30 million, respectively, on a 3%
rise in turnover, to Yen 15,600 million. Weaker Yen may raise import/export
earnings in Yen terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jul
1978
Regd No.: 0804-01-003989
(Shizuoka-Hamamatsu)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 720,000
shares
Issued: 180,000
shares
Sum: Yen
90 million
Major shareholders (%): Hamamatsu Unizon
Co (12), Yoshiyasu Shirafuji (6), Katsumi Asai (5), Ichiro Miyachi (4)
No. of shareholders: 47
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales fish, shellfish, fishery products, others (--100%).
(Imports): Octopus, ribbon fish, shrimp, tuna, other
(fresh or frozen)
(Exports): mackerel, tuna, abalone, scallops, other
(salted/dried/smoked/soy boiled)
Clients: [Fish markets,
wholesalers] Tohshin Suisan, Kaisho, Aoyama Suisan, Watanabe Shoten, Ebisen Co,
other
No. of accounts:
300
Domestic areas of
activities: Centered in Shizuoka-Pref
Suppliers: [Mfrs,
wholesalers] Nippon Suisan Kaisha, Maruha Nichiro Foods, Nichirei Fresh Corp,
Mie-Pref Fishery Coop Federation, Toyo Suisan Kaisha, other.
Payment record: No Complaints
Location: Business area in
Hamamatsu. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References:
Shizuoka Bank
(Hamamatsu-Chuo-Shijo)
MUFG (Hamamatsu)
Relations: Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
15,600 |
15,210 |
14,543 |
15,546 |
|
Recur.
Profit |
|
55 |
51 |
86 |
|
|
Net
Profit |
|
30 |
26 |
20 |
5 |
|
Total
Assets |
|
|
3,577 |
3,349 |
3,673 |
|
Current
Assets |
|
|
2,560 |
2,327 |
|
|
Current
Liabs |
|
|
1,813 |
1,869 |
|
|
Net
Worth |
|
|
519 |
493 |
473 |
|
Capital,
Paid-Up |
|
|
90 |
90 |
90 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.56 |
4.59 |
-6.45 |
-0.96 |
|
Current Ratio |
|
.. |
141.20 |
124.51 |
.. |
|
N.Worth Ratio |
|
.. |
14.51 |
14.72 |
12.88 |
|
R.Profit/Sales |
|
0.35 |
0.34 |
0.59 |
.. |
|
N.Profit/Sales |
|
0.19 |
0.17 |
0.14 |
0.03 |
|
Return On Equity |
|
.. |
5.01 |
4.06 |
1.06 |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.44 |
|
|
1 |
Rs.100.24 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.