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Report Date : |
14.01.2014 |
IDENTIFICATION DETAILS
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Name : |
IMANAKA LTD |
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Registered Office : |
Doshomachi Bldg, 1-4-8 Doshomachi Chuoku Osaka 541-0045 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
March 1948 |
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Com. Reg. No.: |
1200-01-074763 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of confectionary materials, dairy foods, livestock products, timber & housing equipment, industrial chemicals, electronic parts |
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No. of Employees : |
65 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 2012 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 200% 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
IMANAKA LTD
REGD NAME: Imanaka KK
MAIN OFFICE: Doshomachi Bldg, 1-4-8 Doshomachi Chuoku Osaka 541-0045 JAPAN
Tel: 06-6228-5821 Fax: 06-6228-5818
*.. The is its Tokyo Office
URL: http://www.imanaka.co.jp/
E-Mail address: osaka@imanaka.co.jp; tokyo@imanaka.co.jp/
Bancho-Kaikan 5th Floor 12-1 Gogancho Chiyoda-Ku Tokyo Japan
Import, wholesale of confectionary materials, dairy foods, livestock products, timber & housing equipment, industrial chemicals, electronic parts
Tokyo, Nagoya
Singapore, Australia, Shanghai, Thailand, New Zealand
SHUNPEI IMANAKA, PRES Kazuhiro Ito, dir
Ryohei Imanaka, dir Yukiyoshi Terao, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES GOOD A/SALES Yen 18,892 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 100 M
TREND UP WORTH Yen 10,392 M
STARTED 1948 EMPLOYES 65
IMPORTER AND WHOLESALER SPECIALIZING IN FOODSTUFFS, INDUSTRIAL CHEMICALS, HOUSING EQUIPMENT, ETC.
FINANCIAL SITUATION CONSIDERED GOOD AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1885 by Senjiro Imanaka as a pharmacy of Chinese/Japanese medicines and has been succeeded by his descendants. This is a trading house for import and wholesale of confectionery & foodstuffs materials as mainstay items. Also handles timber and housing equipment, synthetic resins, electronic parts, others. Goods are imported from Australia, New Zealand, Netherlands, USA, France, Germany, and recently from China and other S/E Asian countries. In 1994 opened Singapore Office; in 2002 established a JV, Australian Dairy Blends Pty Ltd; in 2003 opened China (Shanghai) office. The firm is aggressively expanding into overseas markets.
The sales volume for Sept/2012 fiscal term amounted to Yen 18,892 million, an 11% up from Yen 17008 million in the previous term. Exports were robust into China and other S/E Asian countries. The net profit was posted at Yen 756 million, compared with Yen 456 million a year ago.
For the term ended Sept 20131 the net profit was projected at Yen 800 million, on a 5% rise in turnover, to Yen 19,800 million. Final results are yet to be released.
The financial situation is considered GOOD to EXCELLENT and good for ORDINARY business engagements.
Date Registered: Mar 1948
Regd No.: 1200-01-074763 (Osaka-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued: 200,000 shares
Sum: Yen 100 million
Major shareholders (%): Doshomachi FS (46), Shumpei Imanaka (26), Imanaka Fudosan (Real estate) (13)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales foods: dairy products, oil products, poultry products, agricultural, seafood and live-stock products, lumber, housing-related products, chemical products, synthetic resin, molded products, electronic equipment, electric components, other (--100%)
Imports (80%)
Clients: [Confectioners, food processors, chemical industry] Fujiya, Ezaki Glico, Asahi Denka Kogyo, Sekisui Chemical, Dai Nippon Toryo, Meiji Milk Products, Meito Sangyo, Nestle Japan, other
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs] New Zealand Dairy Board (New Zealand), Australian Dairy Blends (JV Australia), Imanaka USA, Imanaka Singapore, other from Australia, New Zealand, USA, Netherlands, France, Germany, China, S/E Asian countries, etc. Also Hitachi Chemical, Hitachi Metal, Asahi Denka Kogyo, Nippon Sheet Glass, and some other domestic suppliers.
Payment record: No complaints
Location: Business area in Osaka. Office premises at the caption address are owned (built in 1984 in commemoration of the 100th anniversary) and maintained satisfactorily.
Bank References:
MUFG (Kawaramachi)
Mizuho Bank (Semba)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
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Annual
Sales |
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19,800 |
18,892 |
17,008 |
14,871 |
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Recur.
Profit |
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Net
Profit |
|
800 |
756 |
456 |
338 |
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Total
Assets |
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12,560 |
11,684 |
11,821 |
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Current
Assets |
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10,722 |
9,869 |
9,712 |
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Current
Liabs |
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1,580 |
1,612 |
2,186 |
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Net
Worth |
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10,392 |
9,753 |
9,416 |
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Capital,
Paid-Up |
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|
100 |
100 |
100 |
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Div.P.Share(¥) |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.81 |
11.08 |
14.37 |
-10.40 |
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Current Ratio |
|
.. |
678.61 |
612.22 |
444.28 |
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N.Worth Ratio |
.. |
82.74 |
83.47 |
79.65 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
4.04 |
4.00 |
2.68 |
2.27 |
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Return On Equity |
.. |
7.27 |
4.68 |
3.59 |
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Notes: Forecast (or estimated figures for the 30/09/2013 fiscal term
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
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|
1 |
Rs.101.48 |
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Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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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 |
-- |
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.