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Report Date : |
25.08.2014 |
IDENTIFICATION DETAILS
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Name : |
NH FOODS TAIWAN LTD. |
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Former Name : |
NIPPON MEAT PACKERS ( |
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Registered Office : |
10F., No.138, Sec.3, |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
10.01.1990 |
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Com. Reg. No.: |
23526941 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of meat. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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) |
|
Taiwan |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic
capitalist economy with gradually decreasing government guidance of investment
and foreign trade. Exports, led by electronics, machinery, and petrochemicals
have provided the primary impetus for economic development. This heavy dependence
on exports exposes the economy to fluctuations in world demand. Taiwan's
diplomatic isolation, low birth rate, and rapidly aging population are other
major long-term challenges. Free trade agreements have proliferated in East
Asia over the past several years, and following the landmark Economic
Cooperation Framework Agreement (ECFA) signed with China in June 2010, Taiwan
in July 2013 signed a free trade deal with New Zealand—Taipei’s first-ever with
a country with which it does not maintain diplomatic relations—and in November
inked a trade pact with Singapore. Negotiations continue on follow-on
components of ECFA regarding trade in goods and a dispute resolution mechanism;
a trade in services agreement is under review in the legislature. Taiwan's Total
Fertility rate of just over one child per woman is among the lowest in the
world, raising the prospect of future labor shortages, falling domestic demand,
and declining tax revenues. Taiwan's population is aging quickly, with the
number of people over 65 accounting for 11.2% of the island's total population
as of 2012. The island runs a large overall trade surplus largely because of
its surplus with China, and its foreign reserves are the world's sixth largest,
behind China, Japan, Saudi Arabia, Russia, and Switzerland. In 2006 China
overtook the US to become Taiwan's second-largest source of imports after
Japan. China is also the island's number one destination for foreign direct
investment. Taiwan since 2009 has gradually loosened rules governing Chinese investment
on the island, and has also secured greater market access for its investors in
the mainland. In August 2012, Taiwan Central Bank signed a memorandum of
understanding on cross-Strait currency settlement with its Chinese counterpart.
The MOU allows for the direct settlement of Chinese RMB and the New Taiwan
dollar across the Strait, which could help develop Taiwan into a local RMB hub.
Closer economic links with the mainland bring greater opportunities for the
Taiwan economy, but also poses new challenges as the island becomes more
economically dependent on China while political differences remain unresolved
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Source
: CIA |
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Company Name: |
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Former Name: |
Nippon Meat
Packers, (Taiwan) Inc. |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
+886-2-2712-1183 |
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Fax Number: |
Notes: The exact
name and address are as above.
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Registered Name: |
NH Foods Taiwan Ltd. |
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Registered Address: |
10F., No.138, Sec.3, Min-Shen East Rd., Taipei, R.O.C. |
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Date of Foundation: |
1990-1-10 |
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Registration Number: |
23526941 |
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Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2014.08, 1 NTD = 0.0331 USD) |
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Paid-up Capital: |
NTD 48,000,000 (USD 1,58,800) |
|
Legal Representatives: |
Kunishima Shinichirou |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock
Exchange: |
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Date of Last
Annual Return: |
Subject was incorporated on 1990-1-10 with registered
number 23526941 as Joint Stock
Company in Taiwan.
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Former English Name: |
Nippon Meat Packers, (Taiwan) Inc. |
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Current English Name: |
NH Foods Taiwan Ltd. |
Parent Company
|
Name |
NH Foods Ltd. |
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Address: |
4-9, Umeda
2-chome, Kita-ku, Osaka 530-0001, Japan |
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Telephone
Number: |
+81-6-7525-3026 |
|
Staff |
About 28,140
Employees (As of 2014-3-31) |
|
Listed at Stock
Exchange: |
Yes; (Public,
TYO:2282) |
Related Companies
|
1.
Nippon Chilled Logistics, Inc. (Japan) 2.
Nippon Logistics Center, Inc. (Japan) 3.
Nippon Daily Net Co., Ltd. (Japan) 4.
Nippon Route Service Co., Ltd. (Japan) 5.
Nippon Chilled Logistics, Inc. (Japan) 6.
NH Foods Australia Pty. Ltd. (Australia) 7.
Beef Producers Australia Pty. Ltd. (Australia) 8.
Australian Premium Brands, Inc. (USA) 9.
Day-Lee Foods, Inc. (USA) 10.
Nippo Food (Shanghai) Co., Ltd. (China) |
Note: Subject’s group has many member covering all over the world, we offered 10 members as subject’s related companies for references.
Major Shareholders
|
Name |
Subscription Shares |
|
NH Foods Ltd. |
4,800,000 |
Core Management
Directors
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1 |
||
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Name |
Kunishima Shinichirou |
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Position |
Board Chairman |
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2 |
||
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Name |
Bandou Kanzi |
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Position |
Director |
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3 |
||
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Name |
Tamagaki Kenichi |
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Position |
Director |
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4 |
||
|
Name |
Aoshima
Shigetomi |
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Position |
Supervisor |
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Offices & Factories
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Headquarters |
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Add |
Production Information
l
Subject is a trader of meat and etc without any
production activities
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Sales, importing and exporting of livestock
products, aquatic products, vegetables, chinese olive and other agriculture
products. |
|
-- |
General importing and exporting business. (Besides
licensed business)(Department store sales business) |
|
-- |
Agent of bidding, marking price and sales
(Besides futures) of domestic and overseas manufacturers. |
l
It is introduce that subject imports its products
from overseas market.
l
It is introduced that subject imports pork from
USA, Europe, Canada and etc.
l
It is introduced that subject imports
some beef from Japan and etc.
l
Subject is engaged in sale of meat,
etc.
l
The major products are pork, beef and mutton.
l
Subject’s sales regions are mainly in Taiwan
domestic market.
l
Subject’s major customers are local restaurant,
supermarket and etc.
l
It is introduced that subject can purchases based
on the customers’ requires.
l
We offered some information about subject’s delivery
lead time as following:
|
Origins |
Delivery lead time and |
|
USA and Canada |
About 3~5 days |
|
Europe |
About 4 days ~1.5 months |
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
1.
Domestic Purchase
The subject has little purchases in domestic market.
2.
Import
|
Products |
Meat and etc |
|
Payment Terms |
T/T, L/C and etc |
Sales
1.
Domestic Markets
|
Product |
Meat and etc |
|
Selling Terms |
Cash. T/T and etc |
2.
Export
The subject has little export.
Subject has no obligations to disclose its financial statements to the
third party according to the relevant policy in Taiwan and the only source from
which we can obtain the information is the subject itself.
Subject’s relevant staff Mr. Chen declined to disclose its financials
citing the grounds of company’s confidentiality; WE found the brief
consolidated financial information of subject’s parent company (NH Foods Ltd.) from public files for reference.
Brief Consolidated
Balance Sheet
Brief Consolidated Profit
and Loss Account
Unit: JPY/millions
|
|
2013-4-1~2014-3-31 |
2012-4-1~2013-3-31 |
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NET SALES |
1,122,097 |
1,022,839 |
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COST OF GOODS SOLD |
918,304 |
827,058 |
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NET INCOME |
24,704 |
16,710 |
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COMPREHENSIVE INCOME |
32,633 |
23,580 |
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Mortgage
No chattel mortgage record of
subject has been found within the recent 3 months.
Lawsuit
Up to date of reporting,
no existing or latent litigation of the subject has been found.
Interview Details
|
Name |
Mr. Chen |
|
Department |
Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.43 |
|
|
1 |
Rs.100.23 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
PDT |
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 |
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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 |
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-- |
NB |
New Business |
-- |
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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.