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Report Date : |
20.01.2014 |
IDENTIFICATION DETAILS
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Name : |
KOBE YOKO CO LTD |
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Registered Office : |
4-2-8 Isobedori Chuoku Kobe 651-0084 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
March, 1949 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of frozen fish, prawns, lobsters, fruits
& vegetables |
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No. of Employees : |
39 |
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 |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 |
KOBE YOKO CO LTD
REGD NAME: KK Kobe Yoko
MAIN OFFICE: 4-2-8 Isobedori Chuoku Kobe 651-0084 JAPAN
Tel:
078-232-3521
Fax: 078-232-3723
URL: http://www.kobeyoko.co.jp/
E-Mail address:www-admin@kobeyoko.co.jp
Import, export, wholesale of frozen fish, prawns, lobsters, fruits &
vegetables
Kobe, Osaka, Tokyo
SHOHEI FUNAKOSHI, PRES Kazuya
Shiotani, mgn dir
Mamoru Noro, mgn dir Masahiro
Kazuya, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 18,808 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
80 M
TREND UP WORTH Yen 1,001 M
STARTED 1949 EMPLOYES 39
IMPORTER, EXPORTER AND WHOLESALER SPECIALIZING IN MARINE & FARM
PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1938 by a certain
Funakoshi as a trading firm, on his account, and has been succeeded by his
descendants. This is a trading house for
importing frozen prawns, lobsters, shrimps, shell fished, other marine
products, bananas, pineapples, grapefruits, lemons, and vegetables. Also exports dried scallops, dried oysters,
apples, peaches, other fruits to Hong Kong, Singapore, Malaysia, Taiwan,
Thailand, etc. Importing countries
include: Thailand, Australia, USA, New Zealand, Hong Kong, Taiwan, Korea,
India, etc. Domestically, products are
shipped to fishery and farm marts nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 12,808
million, a 2% up from Yen 18,192 million in the previous term. The recurring profit was posted at Yen 121
million and the net profit at Yen 40 million, respectively, compared with Yen
110 million recurring profit and Yen 31 million net profit, respectively, a
year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 125 million and net profit at Yen 42 million, respectively, on a 3% rise
in turnover, to Yen 19,300 million.
Japanese Yen’s weakness may raise sales earnings in Yen terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Mar
1949
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 3.6
million shares
Issued:
1.6 million shares
Sum: Yen
80 million
Major shareholders
(%):
Yuji Funakoshi (8), Shohei Funakoshi (7), Yasuaki Hisamoto (4), Hiromichi
Hasegawa (4), Osami Murakami (3)
No. of
shareholders: 65
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales frozen lobster, prawns, shrimps, cuttlefish, other fishes, dried
& processed fish products (--50%), fresh bananas, oranges, grapefruits,
lemons, fruit kiwis, mangos, pineapples, onions, cucumbers, pumpkins, dried
shitake mushrooms, nuts, Chinese teas, other (--30%), exports dried oysters,
dried scallops, edible sea weed, apples, pears, persimmons, other
Japan-originated fruits & vegetables (--10%). (Import 60%, export 10%, domestic 30%).
Clients: [Fish & farm
markets, fishery processors, chain stores] Coop’s Kobe, Tanaka Seika, Aeon
group chain stores, other. Also exports
to Hong Kong, Singapore, Malaysia, Taiwan, Thailand, etc.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Fishery firms,
wholesalers] Imports from Thailand, Australia, Hong Kong, Taiwan, Korea, India,
USA, New Zealand, etc.
30% are supplied from domestic fishery firms.
Payment record: No complaints
Location: Business area in
Kobe. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Kobe)
Mizuho Bank
(Kobe-Chuo)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
19,300 |
18,808 |
18,492 |
18,075 |
|
Recur. Profit |
|
125 |
121 |
110 |
|
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Net Profit |
|
42 |
40 |
31 |
81 |
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Total Assets |
|
|
6,043 |
6,387 |
6,245 |
|
Current Assets |
|
|
5,307 |
5,639 |
|
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Current Liabs |
|
|
4,668 |
5,056 |
|
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Net Worth |
|
|
1,001 |
958 |
910 |
|
Capital, Paid-Up |
|
|
80 |
80 |
80 |
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Div.P.Share(¥) |
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|
|
|
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.62 |
1.71 |
2.31 |
-2.30 |
|
|
Current Ratio |
|
.. |
113.69 |
111.53 |
.. |
|
N.Worth Ratio |
.. |
16.56 |
15.00 |
14.57 |
|
|
R.Profit/Sales |
|
0.65 |
0.64 |
0.59 |
.. |
|
N.Profit/Sales |
0.22 |
0.21 |
0.17 |
0.45 |
|
|
Return On Equity |
.. |
4.00 |
3.24 |
8.90 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.100.21 |
|
Euro |
1 |
Rs.83.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.