MIRA INFORM REPORT
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Report Date : |
25.01.2014 |
IDENTIFICATION DETAILS
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Name : |
FUJI CORPORATION |
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Registered Office : |
Hokusui Bldg 9F, 1-13-13 Tsukiji Chuoku |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
August 1989 |
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Legal Form : |
Limited Company |
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Line of Business : |
importer and wholesaler
of Lobsters, Shrimps, Tuna, Fish Products, Avocado and Agricultural
Products |
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No. of Employees : |
16 |
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 : |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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.
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Source : CIA |
FUJI CORPORATION
Fuji Tsusho KK
Hokusui Bldg 9F,
1-13-13 Tsukiji Chuoku Tokyo 104-0045 JAPAN
Tel:
03-3542-0288 Fax: 03-3542-0988
URL: N/A
Import,
wholesale of fish products, agricultural products
Kagawa
TOSHIRO
OOSUNA, PRES
Shinobu Nisou, v pres
Jun’ichi Ogata, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 17,475 M
PAYMENTSSlow but Correct CAPITAL Yen
100 M
TREND SLOW WORTH Yen 1,996 M
STARTED 1989 EMPLOYES 16
IMPORTER
AND WHOLESALER OF FISH & AGRICULTURAL PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by a certain Fujii in order to make
most of his experience in the subject line of business. T Oosuna took the pres office in Dec
2008. This is a trading firm
specializing in importing and wholesaling lobsters, shrimps, tuna, avocado,
fish products and agricultural products.
Products are imported from worldwide countries. Clients are major fish processors, food mfrs,
fish markets, other, nationwide.
Financials are only partially disclosed as from the 31/03/2012 fiscal
term. Profits are not disclosed and only
estimated.
The sales volume for Mar/2012 fiscal term amounted to Yen 17,475
million, a 3% down from Yen 18,000 million in the previous term. Tuna fish catch was restricted due to
preservation of species and imports declined.
The net profit is estimated posted at Yen 5 million, against Yen 6
million a year ago. Profits are only
estimated as not precisely disclosed. .
For the term ending Mar 2014 the net profit is projected at Yen 8
million, on a 5% rise in turnover, to Yen 18,300 million. Weaker Yen may raise import revenues in Yen
terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Aug 1989
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8,000 shares
Issued: 2,000 shares
Sum: Yen
100 million
Major shareholders (%):
Maimi Suisan (20), Shigeyoshi Fujii (13), Shinobu Nisou (13),
Employees’
S/Holding Assn, other
No. of shareholders: 15
Nothing
detrimental is known as to ^the commercial morality of executives.
Activities: Imports and
wholesales shrimp, lobster, tuna, fish products, avocado, other fruits products
(--100%).
Clients: [Fish market,
fish shops] Union Corp (15%),Kyokuyo Co (5%), Uoichi (5%), Table Mark, Maimi Suisan,
Tokai Denpun Co, Ebiko Co, Chugai Shokuhin Co, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Fish market,
wholesalers] Imports from Thailand, USA, India, Mexico, Vietnam, Indonesia,
Philippines, China, Pakistan, Taiwan, other
Payment record: Slow but
Correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
SMBC (Tsukiji)
Mizuho Bank (Tsukiji)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual
Sales |
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18,300 |
17,475 |
18,000 |
18,378 |
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Recur.
Profit |
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.. |
.. |
.. |
8 |
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Net
Profit |
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8 |
5 |
6 |
8 |
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Total
Assets |
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N/A |
N/A |
6,349 |
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Net
Worth |
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1,996 |
1,991 |
1,985 |
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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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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.72 |
-2.92 |
-2.06 |
18.64 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
31.26 |
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N.Profit/Sales |
0.04 |
0.03 |
0.03 |
0.04 |
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Notes: Financials are
only partially disclosed as from the 31/03/2012 fiscal term. Profits are not disclosed and only estimated.
Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
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UK Pound |
1 |
Rs.103.38 |
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Euro |
1 |
Rs.85.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.