MIRA
INFORM REPORT
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Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
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Name : |
NISHIMOTO TRADING CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
September 1947 |
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Com. Reg. No.: |
1400-01-033435 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of foodstuffs |
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No. of Employees : |
144 |
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 – June 01, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 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 |
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 |
Company name and address
NISHIMOTO TRADING CO LTD
REGD NAME: Nishimoto Boeki KK
MAIN OFFICE:
Tel: 03-3438-5651 Fax:
03-3438-5675
*
Registered at: 4-1-38 Isobedori Hyogoku Kobe
E-Mail
address: ntcinfo@ntcltd.com
ACTIVITIES
Import,
export, wholesale of foodstuffs
BRANCHES
Kobe
STORES
5 in
the greater-Tokyo area
OVERSEAS
USA
(15), Canada (3), China (2), Australia (4), Singapore, Netherlands
FACTORIES
(subcontracted)
OFFICER(S)
YOSHIRO
SUSAKI, PRES Takayuki Kanai, rep
dir
Shigenobu Tajima, dir Yuji Sasa, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 14,586 M
PAYMENTSNo
Complaints CAPITAL Yen 80 M
TREND SLOW WORTH Yen 2,824 M
STARTED 2010 EMPLOYES 144
COMMENT
TRADING
FIRM SPECIALIZING IN FOODSTUFFS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject
company was established originally in 1918 by a certain Nishimoto, on his account,
for selling foodstuffs. Incorporated in
1947 the firm has been succeeded by the present executives. In Oct 2010, established a holding company,
Nishimoto Boeki Holdings KK, and became its subsidiary. At the same time, paid-up capital was decreased
to Yen 80 million from the previous 100 million, and also changed the
accounting term to Jan/Dec from Apr/Mar.
This is a trading firm specializing in foodstuffs. Imports from Asia, USA, Europe, etc. Exports fish products to over 5,000 sushi
bars in USA, Canada, other. The firm is
gradually transferring operations & trading to overseas subsidiaries, which
now have 26 offices in 6 overseas countries.
FINANCIAL INFORMATION
The sales
volume for Dec/2013 fiscal term amounted to Yen 14,586 million, a 31% down from
21,266 million in the previous term.
This is largely referred to the said transfer of overseas operations to
overseas subsidiaries. The recurring
profit was posted at Yen 654 million and the net profit at Yen 375 million,
respectively, compared with Yen 575 million recurring profit and Yen 309
million net profit, respectively, a year ago.
For
the current term ending Dec 2014 the recurring profit is projected at Yen 700
million and the net profit at Yen 390 million, respectively, on a 3% rise in
turnover, to Yen 15,000 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
REGISTRATION
Date Registered: Sept 1947
Regd No.: 1400-01-033435 (Kobe-Hyogoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued:
200,000 shares
Sum: Yen 100 million
Major shareholders (%): Nishimoto Boeki Holdings KK*
(100)
* Holding company of the group firms
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
Imports, exports and wholesales foodstuffs (--100%).
(Handling
items):
Sake, wine, rice, flour beans,
canned foods, boiled foods, vinegars, oils, miso, seasonings, seaweed, kelp,
dried seafoods, fishes, vegetables (dried, chilled & frozen), seasoned
toppings, noodles, sauces, fruit juices, ice pops, pickled products, tofu (bean
curd), fish cakes, wrapper skins, frozen fish & fish roes, frozen processed
foods, sushi materials, other (--100%).
Exports fish/fishery products to over 5,000
sushi bars in USA, Canada, Europe, Asia, other.
Clients: [Food stores, wholesalers] Nishimoto
Trading of America, Tazaki Foods Ltd, Tokyo Mart Pty Ltd, Meidi-Ya, Watami Food
Service, Camel Coffee, Maruha Nichiro Corp, Mitsubishi Foods, other.
No. of
accounts: 800
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nissin Foods,
Ezaki Glico, Daisui, Katokichi, Ocean Marine Foods, Nippon Suisan, IPM
Nishimoto, Del Mar Foods, Serryhiull Foods, other.
Payment record: No
Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(Shimbashi)
MUFG
(Shimbashi-Ekimae)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
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Annual
Sales |
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15,000 |
14,586 |
21,266 |
18,079 |
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Recur.
Profit |
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700 |
654 |
575 |
530 |
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Net
Profit |
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390 |
375 |
309 |
203 |
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Total
Assets |
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11,368 |
8,613 |
7,635 |
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Current
Assets |
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8,593 |
7,890 |
6,966 |
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Current
Liabs |
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4,883 |
5,553 |
4,949 |
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Net
Worth |
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2,824 |
2,449 |
2,140 |
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Capital,
Paid-Up |
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80 |
80 |
80 |
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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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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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2.84 |
-31.41 |
17.63 |
49.78 |
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Current Ratio |
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.. |
175.98 |
142.09 |
140.76 |
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N.Worth Ratio |
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.. |
24.84 |
28.43 |
28.03 |
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R.Profit/Sales |
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4.67 |
4.48 |
2.70 |
2.93 |
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N.Profit/Sales |
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2.60 |
2.57 |
1.45 |
1.12 |
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Return On Equity |
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.. |
13.28 |
12.62 |
9.49 |
Notes:
Accounting terms changed from 31/12/2011 term to Jan/Dec from the previous
Apr/Mar.
Forecast
(or estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.19 |
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1 |
Rs.98.65 |
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Euro |
1 |
Rs.78.63 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
PDT |
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.