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Report Date : |
05.05.2014 |
IDENTIFICATION DETAILS
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Name : |
TOYOTA TSUSHO FOODS CORPORATION |
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Registered Office : |
Shinagawa Front Bldg 14F, 2-3-13 Konan Minatoku Tokyo 108-0075 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
March 1968 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
importer, exporter and wholesaler of marine/agricultural/livestock products, other
foodstuff materials & processed foods |
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No. of Employees |
120 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
|
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
|
Source
: CIA |
TOYOTA TSUSHO FOODS CORPORATION
REGD NAME: Toyotsu
Shokuryo KK (Toyotsu is short for TOYOta TSUsho, Shokuryo is foods)
MAIN OFFICE: Shinagawa
Front Bldg 14F, 2-3-13 Konan Minatoku Tokyo 108-0075 JAPAN
Tel:
03-4306-8539 Fax: 03-4306-8869
*.. Moved to the
caption address in Dec 2010 from the former as given
URL: http://www.toyotsu-shokuryo.com/
E-Mail address: info@toyotsu-shokuryo.com
importer, exporter and wholesaler of marine/agricultural/livestock products, other foodstuff materials & processed
foods
Osaka
Ginza, Yokohama
(wine shops)
SEIICHIRO
TAKAHASHI, PRES Kazuhiko
Iwasa, dir
Tohru Sasagawa,
dir Akira
Suzuki, dir
Shuji Koshino, dir Tatsushi
Nakamura, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 33,402 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
370 M
TREND SLOW WORTH Yen
1,836 M
STARTED 1968 EMPLOYES 120
TRADING HOUSE
SPECIALIZING IN FOODSTUFFS, WHOLLY OWNED BY
TOYOTA TSUSHO CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR BUSINESS ENGAGEMENTS.
The subject company was established originally in 1948 on the basis of a marine foods division separated from the then Tomen Corp (now merged into Toyota Tsusho Corp), as Tomen Marine Products Corp. Renamed in 1999 as Tomen Foods Corp by merging sister firms. In Apr 2006 merged into Toyota Tsusho Foods Corp and renamed as captioned in Oct 2007. In Oct 2007, transferred from Toyota Tsusho Corp part of its foodstuffs operations. This is a trading firm specializing in import, export and wholesale of marine/agricultural/livestock products, other foodstuff materials & processed foods. Marine products are the mainstay. Handles wines, too. Operates two wine shops named “Marche de Vin” in Tokyo & Yokohama.
Financials are consolidated by the parent, Toyota Tsusho Corp, and
disclosed only in digested form as follows:
The sales volume for Mar/2011 fiscal term amounted to Yen 33,402 million, a 7% down from Yen 36,068 million in the previous term. Consumer spending was sluggish. High Yen ate into earnings & profits in Yen terms. The recurring profit was posted at Yen 726 million and the net profit at Yen 409 million, respectively, compared with Yen 627 million recurring profit and Yen 357 million net profit, respectively, a year ago.
For the current term ending Mar 2012 the recurring profit is projected at Yen 780 and the net profit at Yen 410 million, respectively, on a 2% rise in turnover, to Yen 34,100 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar
1968
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 29,600 shares
Issued: 7,400 shares
Sum: Yen 370 million
Major shareholders (%): Toyota Tsusho
Corp*(100)
* Sole trading firm of Toyota Motor group, Nagoya, founded 1948, listed Tokyo, Nagoya S/E’s, capital Yen 64,936 million, sales Yen 5,743,649 million, operating profit Yen 85,297 million, recurring profit Yen 104,218 million, net profit Yen 47,169 million, total assets Yen 2,436,248 million, net worth Yen 667,378 million, employees 30,864, pres Junzo Shimizu
Consolidated
Financials are as attached (See SUPPLEMENTS)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales foodstuffs: Marine Division (raw/frozen fish, fishery products,
other) (--55%); Food Div (foodstuff materials, processed foods, canned foods,
precooked foods, confectionery, spices & seasonings, wines, other) (--45%)
Operates two wine shops in Tokyo &
Yokohama, named “Marche de Vin”.
Clients: [Foodstuffs
dealers, wholesalers, fish markets] Toyota Tsusho Corp, Kyokuyo Co, Maruha
Nichiro Seafoods, Daito Gyorui Co, Kaneka Seafoods, Oka Foods, Kuki Sangyo,
Japan Beverage, Morozoff, Tsuchiya Shoten, Kyowa Bussan, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Daito Gyorui Co, Kanedai Co, Semillas Kemagro SA, Icelandic Japan,
Toyota Tsusho Corp, other
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Tokyo)
SMBC (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
31,570 |
30,074 |
32,545 |
33,402 |
|
Recur.
Profit |
|
700 |
645 |
771 |
776 |
|
Net
Profit |
|
370 |
358 |
374 |
409 |
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Total
Assets |
|
|
10,747 |
11,275 |
11,092 |
|
Current
Assets |
|
|
10,214 |
10,803 |
10,530 |
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Current
Liabs |
|
|
8,370 |
9,115 |
9,118 |
|
Net
Worth |
|
|
2,282 |
2,083 |
1,836 |
|
Capital,
Paid-Up |
|
|
370 |
370 |
370 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
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S.Growth Rate |
4.97 |
-7.59 |
-2.57 |
-7.39 |
|
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Current Ratio |
.. |
122.03 |
118.52 |
115.49 |
|
|
N.Worth Ratio |
.. |
21.23 |
18.47 |
16.55 |
|
|
R.Profit/Sales |
2.22 |
2.14 |
2.37 |
2.32 |
|
|
N.Profit/Sales |
1.17 |
1.19 |
1.15 |
1.22 |
|
|
Return On Equity |
.. |
15.69 |
17.95 |
22.28 |
|
Notes: Financials are consolidated by the parent, Toyota Tsusho Corp,
and only disclosed in digest form.
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
|
1 |
Rs.101.41 |
|
Euro |
1 |
Rs.83.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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 |
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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.