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Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
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Name : |
MATSUOKA CO LTD |
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Registered Office : |
1-10-12 |
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Country : |
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Financials (as on) : |
31.01.2014 |
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Date of Incorporation : |
1945 |
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Com. Reg. No.: |
2500-01-006345 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of
fish, fish products |
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No of Employees : |
306 |
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 – 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 |
MATSUOKA CO LTD
KK Matsuoka
1-10-12
Higashi-Yamatomchi Shimonoseki City Yamaguchi-Pref 750-8512
Tel:
083-267-5566
Fax: 083-267-5286
URL: http://www.matsuoka.co.jp
E-Mail
address: (thru the URL)
Import,
export, wholesale of fish, fish products, other
Tokyo,
Osaka, Fukuoka, Funabashi, Kawasaki, Kochi, other (Tot 12)
Myanmar,
China
Tokyo,
Fukuoka, other (--warehouse, delivery centers)
TAKAO
MATSUOKA, PRES Hironobu Yoshioka,
dir
Shigemi
Fukunaga dir Takako
Matsuoka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 31,251 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 50 M
TREND STEADY WORTH Yen 4,610 M
STARTED 1950 EMPLOYES 306
TRADING FIRM SPECIALIZING IN
FISH AND FISH PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established originally in 1945 by
father of Takao Matsuoka, on his account, and was incorporated in 1950. This is a trading firm for import, export and
wholesale of fish, fish products, other.
Offers a total logistic service, such as storage, transport, inventory,
other. Has subsidiaries in China and
Myanmar. Exports include sushi
ingredients, Japanese foods, other.
Imports from USA, China, Korea, Chile, Indonesia, India, Morocco,
other. Domestic clients include fishery
companies, fish markets, fish shops, other
Financials
are disclosed only partially.
The
sales volume for Jan/2014 fiscal term amounted to Yen 31,251 million, a shade
down from Yen 31,489 million in the previous term. Tuna fish imports declined as affected by the
species preservation policy of the fish.
The net profit was posted at Yen 177 million, compared with Yen 410
million net losses in the previous term.
This refers to the extraordinary losses coming from the construction of
Distribution Center at the cost of Yen 10,000 million in Tokyo in Jan 2014.
For
the current term ending Jan 2015 the net profit is projected at Yen 190
million, on a 5% rise in turnover, to Yen 32,800 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Feb 1950
Regd No.: 2500-01-006345 (Yamaguchi-Shimonoseki)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 400,000 shares
Issued: 100,000 shares
Sum: Yen 50 million
Major shareholders (%): Takao Matsuoka (30), Matsuoka Seafoods Co (12), MUFG (2.5), Nippon Suisan KK (2.5), Takako Matsuoka (1.1)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales fish
(raw, chilled, frozen), fish & marine products, offering a total logic
service (storage/transportation/inventory/other), other (--100%)
Exports of marine products:
boneless fish slice (kirimi), such ingredients, breaded shrimp, other.
Clients: [Mfrs, wholesalers] Maruha Nichiro
Corp, Nippon Suisan KK, Fukuoka Fish Market, Kanefuku Co, Best Supply Co, other
to supermarkets, restaurants, coop stores, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Imports from USA, Canada, China, Korea, Chile, India, Indonesia, Morocco,
other.
Domestically supplied from: Kyokuyo Co, Hyogo Trading Co, other
Payment record: No Complaints
Location: Business area in
Shimonoseki. Office premises at the
caption address are owned and maintained satisfactory.
Bank References:
MUFG
(Kita-Kyushu)
Yamaguchi
Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/01/2015 |
31/01/2014 |
31/01/2013 |
31/01/2012 |
|
Annual
Sales |
|
32,800 |
31,251 |
31,489 |
30,343 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
190 |
177 |
-410 |
380 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
4,610 |
4,433 |
4,843 |
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Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.96 |
-0.76 |
3.78 |
2.50 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
0.58 |
0.57 |
-1.30 |
1.25 |
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/01/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.44 |
|
UK Pound |
1 |
Rs.100.24 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
|
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 |
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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.