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Report Date : |
13.09.2014 |
IDENTIFICATION DETAILS
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Name : |
LACTO JAPAN CO LTD |
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Registered Office : |
Neo Kawai Bldg 3F, 4-8-15 Nihombashi-Honcho Chuoku |
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Country : |
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Financials (as on) : |
30.11.2013 |
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Date of Incorporation : |
May 1998 |
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Com. Reg. No.: |
0100-01-051615 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of
dairy products, livestock products |
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No. of Employees : |
82 |
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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
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 |
LACTO JAPAN CO LTD
REGD NAME: KK
Lacto Japan
MAIN OFFICE: Neo
Kawai Bldg 3F, 4-8-15 Nihombashi-Honcho Chuoku
Tel:
03-6214-3831 Fax: 03-6214-3721
URL: http//:www.lactojapan.com
E-mail: sales@lactojapan.com
Import,
export, wholesale of dairy products, livestock products
Singapore,
Melbourne, Los Angeles, Amsterdam; Italy, China, Malaysia, Indonesia
(subcontracted)
SHIGERU
YASUMI, PRES Jun Ishii, dir
Motohisa
Miura, dir Masayuki Maekawa, dir
Koji
Sukino dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 63,344 M
PAYMENTSno complaints CAPITAL Yen
465 M
TREND UP WORTH Yen 6,590 M
STARTED 1998 EMPLOYES 82
TRADING
FIRM SPECIALIZING IN DAIRY PRODUCTS & MEAT PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject
company was established by Shigeru Yasumi and partners in order to make most of
their experiences in foreign trading.
This is a trading firm specializing in import, export and wholesale of
dairy ingredients, cheese, processed meat products, other (See OPERATION). Operates 5 overseas subsidiaries and 2
agencies. Goods are imported from
Europe, USA, China, Australia, Indonesia, other. Clients include major dairy products mfrs,
nationwide.
The sales volume for Nov/2013
fiscal term amounted to Yen 63,344 million, a 15% up from Yen 55,200 million in
the previous term. Imports
increased. Weaker Yen contributed to
raise sales amount in Yen terms. The
recurring profit was posted at Yen 1,557 million and the net profit at Yen 902
million, respectively, compared with Yen 786 million recurring profit and Yen
422 million net profit, respectively, a year ago. .
For
the current term ending Nov 2014 the recurring profit is projected at Yen 1,600
million and the net profit at Yen 910 million, respectively, on a 5% rise in
turnover, to Yen 66,500 million. Imports
continue rising.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: May 1998
Regd No.: 0100-01-051615 (Tokyo-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
5,424 shares
Issued: 3,918.2
shares
Sum: Yen 465.53 million
Major shareholders (%): Hajime Yasumi (10.8), Meiji
Dairies (2.5), Morinaga Milk (2.5), Yotsuba Milk Products (2.5), Wakodo Co
(2.5), other
No. of shareholders: 37
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales dairy
& meat products: dairy ingredients used to produce ice-cream, yogurt, and
other products, processed meat products, cheese, other (--100%).
(Handling Items): Full cream milk powder, skimmed milk
powder, butter, cream, whey powder, WPC (whey protein concentrate), casein,
caseinate, prepared milk powder mixtures (for ice cream, dairy beverages,
chocolate, etc.), prepared butter mixtures (for margarine and ice cream), other
prepared dairy mixtures (ingredients for milk powder for infant formula,
prepared condensed milk, etc.), ice cream, lactose, processed meat products,
fresh meat (for table use and for processing), cheeses
Clients: [Dairy food producers, wholesalers]
Yonekyu Corp, Morinaga Milk Ind, Meiji Dairies Corp, Megmilk Snow Brand Co,
Lotte Co, Glico Dairy Products, MK Cheese, Wakodo Co, NCL, Yoshida Corporation,
other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Seaboard Foods,
Lacto Asia Pte, TS Corporation, Tatura Milk Industries, Yotsuba Co, other.
Payment record: No
complaints
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Kanda-Ekimae)
Resona
Bank (Kanda)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/11/2014 |
30/11/2013 |
30/11/2012 |
30/11/2011 |
|
|
Annual
Sales |
|
66,500 |
63,344 |
55,200 |
56,088 |
|
Recur.
Profit |
|
1,600 |
1,557 |
786 |
1,493 |
|
Net
Profit |
|
910 |
902 |
422 |
845 |
|
Total
Assets |
|
|
28,384 |
21,894 |
22,662 |
|
Current
Assets |
|
|
26,416 |
20,338 |
20,954 |
|
Current
Liabs |
|
|
15,888 |
11,569 |
12,228 |
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Net
Worth |
|
|
6,590 |
5,664 |
5,169 |
|
Capital,
Paid-Up |
|
|
465 |
465 |
465 |
|
Div.Ttl
in Million (¥) |
|
|
61.5 |
0.00 |
61.1 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.98 |
14.75 |
-1.58 |
20.85 |
|
Current Ratio |
|
.. |
166.26 |
175.80 |
171.36 |
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N.Worth Ratio |
|
.. |
23.22 |
25.87 |
22.81 |
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R.Profit/Sales |
|
2.41 |
2.46 |
1.42 |
2.66 |
|
N.Profit/Sales |
|
1.37 |
1.42 |
0.76 |
1.51 |
|
Return On Equity |
|
.. |
13.69 |
7.45 |
16.35 |
Notes:
Forecast (or estimated) figures for the 30/11/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.84 |
|
|
1 |
Rs.98.72 |
|
Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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.