|
Report Date : |
03.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAPAN FOOD CORPORATION |
|
|
|
|
Registered Office : |
Mita Nitto Dai Bldg 7F, 3-11-36 Mita
Minatoku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
Marcj 1960 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, wholesale of meat products |
|
|
|
|
No. of Employees : |
245 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 |
|
Restricted |
C2 |
|
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 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 exceeds 225% 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 |
JAPAN FOOD CORPORATION
REGD NAME: Japan
Food KK
MAIN OFFICE: Mita
Nitto Dai Bldg 7F, 3-11-36 Mita Minatoku Tokyo 108-0073 JAPAN
Tel:
03-5441-8500 Fax: 03-5441-8505
URL: http://www.japanfoodcorp.co.jp/
E-Mail address: info@japanfoodcorp.co.jp
Import, wholesale
of meat products
Nishinomiya
(Hyogo), Kawasaki, Koshigaya, other
Korea, Australia,
China (2), China (2), USA
KAZUSHI OHTA, PRES Taku Usui, mgn dir
Hitoshi Togawa,
dir Koji Uchida, dir
Hajime touo, dir Kenichi Tamagawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 223,211 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
40 M
TREND SLOW WORTH Yen
14,420 M
STARTED 1960 EMPLOYES 245
TRADING HOUSE SPECIALIZING IN MEAT PRODUCTS, WHOLLY OWNED
BY NIPPON MEAT PACKERS INC. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a trading division
separated from Nippon Meat Packers Inc, nation’s top-ranked meat processor,
Osaka (See REGISTRATION). This is a trading house specializing in meat,
meat products, processed foods, etc for supply to the parent centrally, and
other meat packers. It also handles farm
& marine products. Import sources
are Australia, USA, Canada, UK, Korea, and other S/E Asian countries, mostly
imported through general trading houses.
The sales volume for Mar/2013 fiscal term amounted to Yen 223,211
million, a 3% down from Yen 229,336 million in the previous term. The recurring profit was posted at Yen 2,705
million and the net profit at Yen 1,628 million, respectively, compared with Yen
2,117 million recurring profit and Yen 1,201 million net profits, respectively,
a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 2,800 million and the net profit at Yen 1,700 million, respectively, on
a 3% rise in turnover, to Yen 230,000 million.
The financial situation is considered FAIR
and good for ORDINARY
Business engagements.
Date Registered:
Mar 1960
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 320,000 shares
Issued:
80,000 shares
Sum: Yen 40 million
Major shareholders (%): Nippon Meat
Packers Inc*(100)
*.. Major comprehensive meat processor,
Osaka, founded 1949, listed Tokyo S/E, capital
Yen 24,166 million, turnover Yen 1,022,839
million, operating profit Yen 28,021 million, recurring profitYen 28,031
million, net profit Yen 16,459 million, total assets Yen 617,106 million, net
worth Yen 299,579 million, employees 15,725, pres Noboru Takezoe
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales meat (beef. pork, chicken, etc), meat products, processed foods
(--95%), farm & marine products (--5%).
Clients: [Meat packers,
food processors] Nippon Meat Packers, Prima Meat Packers, Meidi-Ya, Altac
Foods, Minaminippon Ham, other
No. of accounts:
1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nippon Meat Packers, Itochu Corp, Mitsui & Co, Hannan Co,
ZenchikuHambai, other.
Imports from Australia, USA, Canada, UK,
Korea and other S/E Asian countries.
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Mita)
Hyakujushi Bank
(Tokyo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
230,000 |
223,211 |
229,336 |
212,050 |
|
Recur.
Profit |
|
2,800 |
2,705 |
2,117 |
2,297 |
|
Net Profit |
|
1,700 |
1,628 |
1,201 |
1,090 |
|
Total
Assets |
|
|
77,382 |
72,125 |
69,698 |
|
Current
Assets |
|
|
5,535 |
70,636 |
68,189 |
|
Current
Liabs |
|
|
62,528 |
57,979 |
55,861 |
|
Net
Worth |
|
|
14,420 |
13,752 |
13,430 |
|
Capital,
Paid-Up |
|
|
40 |
40 |
40 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.04 |
-2.67 |
8.15 |
8.07 |
|
|
Current Ratio |
|
.. |
8.85 |
121.83 |
122.07 |
|
N.Worth Ratio |
.. |
18.63 |
19.07 |
19.27 |
|
|
R.Profit/Sales |
|
1.22 |
1.21 |
0.92 |
1.08 |
|
N.Profit/Sales |
0.74 |
0.73 |
0.52 |
0.51 |
|
|
Return On Equity |
.. |
11.29 |
8.73 |
8.12 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.07 |
|
|
1 |
Rs.103.61 |
|
Euro |
1 |
Rs.85.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.