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Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
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Name : |
MITSUI FOODS CO LLTD |
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Registered Office : |
Yaesu Mitsui Bldg, 2-7-2 Yaesu Chuoku Tokyo 104-0028 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
September 1960 |
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Com. Reg. No.: |
0100-01-043281 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of foods, wines, beer, beverages |
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No. of Employees |
1,447 |
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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Maximum Credit Limit : |
Yen 4,252.0 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
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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 |
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. Prime Minister Shinzo ABE has declared the economy his government's top priority; he has overturned his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans Pacific Partnership negotiations in 2013, a pact that would open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. 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 is exceeding 230% of GDP. To help raise government revenue and reduce public debt, Japan decided in 2013 to gradually increase the consumption tax to a total of 10% by the year 2015. Japan is making progress on ending deflation due to a weaker yen and higher energy costs, but reliance on exports to drive growth and an aging, shrinking population pose other major long-term challenges for the economy
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Source
: CIA |
MITSUI FOODS CO LLTD
REGD NAME: Mitsui
Shokuhin KK
MAIN OFFICE: Yaesu
Mitsui Bldg, 2-7-2 Yaesu Chuoku Tokyo 104-0028 JAPAN
Tel: 03-3551-1211
Fax:
03-3551-2100
URL: http://www.mitsuifoods.co.jp
E-Mail address: (thru the URL)
Import, export,
wholesale of foods, wines, beer, beverages, other
Nationwide (51
locations)
Mitsui & Co
(the parent) overseas offices
MITSUO NAGAHARA,
PRES Hiroyuki Matsumoto, dir
Yoji Endo, dir Takumi Kobayashi, dir
Hisashi Oda, dir Minoru
Nakajima, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 134,700 M
PAYMENTS REGULAR CAPITAL Yen 12,031 M
TREND STEADY WORTH Yen
26,500 M
STARTED 1960 EMPLOYES 1,447
TRADING FIRM SPECIALIZINFG IN FOODS, LIQUOR, BEVERAGES, OWNED
BY MITSUI & CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 4,252.0
MILLION, ON 30 DAYS NORMAL TERMS
The subject company was established on the basis of a foodstuffs trading
division separated from Mitsui & Co Ltd (See REGISTRATION). This is a
trading firm specializing in foods, wines & liquor beverages, other (See OPERATION). Goods are imported from around the world thru
overseas offices of the parent, Mitsui & Co Ltd, and exports Japanese
foods. Clients include convenience
stores, super markets, and department stores, other, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 634,700
million, a 6% up from Yen 596,821 million in the previous term. The recurring profit was posted at Yen 3,300
million and the net profit at Yen 2,000 million, respectively, compared with Yen
3,557 million recurring profit and Yen 3,810 million net profit, respectively,
a year ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 3,500 million and the net profit at Yen 2,300 million, respectively, on a
5% rise in turnover, to Yen 665,000 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 4,252.0 million, on the normal 30 days terms.
Date Registered:
Sept 1960
Regd No.:
0100-01-043281 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 5 million shares
Issued: 1,263,700 shares
Sum: Yen 12,031 million
Major
shareholders (%): Mitsui & Co Ltd* (100)
*.. General trading house vying with
Mitsubishi Corp for top position, Tokyo, founded 1947, listed Tokyo S/E,
capital Yen 341,482 million, turnover Yen 10,049,637 million, operating profit
Yen 254,603 million, recurring profit Yen 314,98 million, net profit Yen
307,926 million, total assets Yen 14,216,588 million, net worth Yen 3,559,431
million, employees 45,148, pres Masami Iijima
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading firm
for import, export and wholesale (distribute) of: wines, beers, beverages,
coffee, tea, juices & ingredients (concentrates), frozen fruits &
vegetables, frozen seafood, canned seafood, canned fruits & vegetables,
specialty foods, packaged foods, Japanese foods, other (--100%)
Clients: [Mfrs,
wholesalers] Seven-Eleven Japan, Ito-Yokado, Create SD Co, Koa Kitchen Service,
Trial Co, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui & Co, Kirin Brewery Co, Sapporo Breweries Ltd, Kirin
Beverages, Asahi Breweries Ltd, Toyo Suisan Kaisha, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned by the parent, Mitsui & Co, and maintained
satisfactorily.
Bank References:
SMBC
(Asakusabashii)
Mizuho Bank
(Kabutocho)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
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Annual
Sales |
|
665,000 |
634,700 |
596,821 |
525,070 |
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Recur.
Profit |
|
3,500 |
3,300 |
3,557 |
3,540 |
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Net
Profit |
|
2,300 |
2,000 |
3,810 |
513 |
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Total
Assets |
|
|
155,200 |
146,888 |
112,733 |
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Current
Assets |
|
|
177,000 |
119,311 |
89,370 |
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Current
Liabs |
|
|
125,700 |
118,982 |
89,022 |
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Net
Worth |
|
|
26,500 |
24,576 |
20,312 |
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Capital,
Paid-Up |
|
|
12,031 |
12,031 |
12,031 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.77 |
6.35 |
13.67 |
2.70 |
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Current Ratio |
.. |
140.81 |
100.28 |
100.39 |
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N.Worth Ratio |
.. |
17.07 |
16.73 |
18.02 |
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R.Profit/Sales |
0.53 |
0.52 |
0.60 |
0.67 |
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N.Profit/Sales |
0.35 |
0.32 |
0.64 |
0.10 |
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Return On Equity |
.. |
7.55 |
15.50 |
2.53 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
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|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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 |
-- |
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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.