|
Report Date : |
01.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
UOICHI CO LTD |
|
|
|
|
Registered Office : |
1-1-86 Noda Fukushimaku Osaka 553-0005 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
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Date of Incorporation : |
Oct., 2006 |
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|
|
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Com. Reg. No.: |
1200-01-118638 (Osaka-Fukushimaku) |
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|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
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|
|
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Line of Business : |
Import and Wholesale of Seafood |
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|
|
|
No. of Employees : |
506 |
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 |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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. 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 |
UOICHI CO LTD
REGD NAME: KK
Uoichi
MAIN OFFICE: 1-1-86
Noda Fukushimaku Osaka 553-0005 JAPAN
Tel:
06-6469-2001 Fax: 06-6469-2153
E-Mail address: info@uoichi.co.jp
Import,
wholesale of seafood
Osaka
(3), Ohtsu, Wakayama, Tokyo, Nagasaki, Fukuoka
Uoichi
Panama Inc (subsidiary)
Panama
(subsidiary of processing fish roe)
MITSUYUKI
MIWA, PRES Genji Fuchigami,
adviser
Hayato
Iwasa dir Yasushi
Hashizume, dir
Masatoshi
Tanigawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 194,217 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 2,000 M
TREND UP WORTH Yen 6,781 M
STARTED 2006 EMPLOYES 506
SEAFOOD
WHOLESALER, OWNED BY OUG HOLDINGS INC.
FINANCIAL SITUATION CONSIDERED FAIR
AND SHOULD BE GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established on the basis of former Osaka Uoichiba Co Ltd
merging two sister companies and named as captioned. At the same time, founded a Holding Company,
OUG Holdings Inc (See REGISTRATION),
and became its wholly owned subsidiary.
This is a fishing company specializing in import and wholesale of
seafood. Also engaged in shrimp culture.
The merger was intended to eliminate unprofitable divisions/operations and to
integrate group operations. Clients include 5 Central Fish Markets in Osaka,
Wakayama, Ohtsu, other.
The
sales volume for Mar/2014 fiscal term amounted to Yen 194,217 million, a 2% up
from Yen 190,955 million in the previous term.
Prices of the fish increased, particularly of tuna fish, which catches
are restricted by reason of species protection.
The recurring profit was posted at Yen 1,194 million and the net profit
at Yen 1,153 million, respectively, compared with Yen 50 million recurring loss
and Yen 239 million net losses, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is
projected at Yen 1,300 million and the net profit at Yen 1,200 million,
respectively, on a 3% rise in turnover, to Yen 200,000 million. .
The financial situation is considered FAIR and should be
good for ORDINARY business engagements.
Date Registered: Oct
2006
Regd No.: 1200-01-118638
(Osaka-Fukushimaku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 160,000 shares
Issued: 40,000 shares
Sum: Yen
2,000 million
Major shareholders (%): OUG Holdings Inc*(100)
* Holding
company established in Oct 2006 by the former Osaka Uoichiba Co Ltd when the
firm merged two sister companies, listed Tokyo S/E, capital Yen 6,495 million,
sales Yen 312,474 million, operating profit Yen 1,906 million, recurring profit
Yen 1,955 million, net profit Yen 1,662 million, total assets Yen 74,863
million, net worth Yen 16,314 million, employees 1,293, pres Masatoshi Tanigawa
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Wholesales and imports seafood:
seafood sales at central wholesale markets (60%), at other markets (40%)
Clients: [Fish markets, fish wholesalers]
Central Fish Markets in Osaka, Wakayama, Ohtsu Cities, CGC Japan, Nichirei
Fresh, Shokuryu, other.
No. of
accounts: 2,000
Domestic
areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Hanwa Corp,
Maruha Nichiro Holdings, Itochu Corp, Uoichi Panama Inc, Nichirei Fresh,
Yokohama Reito, CGC Japan, Life Corp, other.
Payment record: No
Complaints
Location: Business
area in Osaka. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Chuo-Ichiba)
Mizuho Bank (Umeda)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
200,000 |
194,217 |
190,955 |
202,197 |
|
Recur.
Profit |
|
1,300 |
1,194 |
-50 |
703 |
|
Net
Profit |
|
1,200 |
1,153 |
-239 |
835 |
|
Total
Assets |
|
|
23,143 |
22,593 |
24,770 |
|
Current
Assets |
|
|
22,562 |
22,068 |
24,251 |
|
Current
Liabs |
|
|
15,218 |
15,548 |
17,154 |
|
Net
Worth |
|
|
6,781 |
5,886 |
6,412 |
|
Capital,
Paid-Up |
|
|
2,000 |
2,000 |
2,000 |
|
Div.Ttl
in Million (¥) |
|
|
250 |
300 |
300 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.98 |
1.71 |
-5.56 |
1.08 |
|
Current Ratio |
|
.. |
148.26 |
141.93 |
141.37 |
|
N.Worth Ratio |
|
.. |
29.30 |
26.05 |
25.89 |
|
R.Profit/Sales |
|
0.65 |
0.61 |
-0.03 |
0.35 |
|
N.Profit/Sales |
|
0.60 |
0.59 |
-0.13 |
0.41 |
|
Return On Equity |
|
.. |
17.00 |
-4.06 |
13.02 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.77.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.