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Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
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Name : |
SAPPORO CHUOSUISAN CO LTD |
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Registered Office : |
20-2-1 Kita 12-Jo Nishi Chuoku Sapporo 060-8505 |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
March 1960 |
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Com. Reg. No.: |
4300-01-023716 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Wholesale of Fish, Shellfish, Fishery Products |
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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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 1,013.5 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
SAPPORO CHUOSUISAN
CO LTD
Marusui Sapporo Chuosuisan KK
20-2-1 Kita 12-Jo Nishi Chuoku Sapporo 060-8505 JAPAN
Tel: 011-643-1234
Fax: 011-644-8181
URL: http://www.marusui-net.co.jp
E-Mail address: (thru
the URL)
Import, wholesale of fish, shellfish, fishery products
Nil
OSAMU MUTO, PRES Kiyo
Takada, ch
Masahito Mori, dir Yoshikazu
Teramachi, dir
Naoyuki Takada, dir Masahito
Takada, dir
Yen
Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 60,207 M
PAYMENTS SLOW BUT
CORRECT CAPITAL Yen 480 M
TREND UP WORTH Yen 1,420 M
STARTED 1960 EMPLOYES 120
TRADING FIRM SPECIALIZING IN FISH, FISHERY PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 1,013.5 MILLION, ON 30
DAYS NORMAL TERMS.
The subject company was established by Kyutaro Nishide in
order to make most of his experience in the subject line of business. This is a wholesaler of raw fish, fishery
products, shellfish, other. Fishes are
imported from suppliers worldwide. Goods
are mostly wholesales at the Sapporo Central Wholesale Market, to licensed
buyers/dealers.
The sales volume for Mar/2014 fiscal term amounted to Yen
60,207 million, an 8% up from Yen 55,879 million in the previous term. Tune prices were up. The weaker Yen raised revenues in Yen terms,
too. The recurring profit was posted at
Yen 207 million and the net profit at Yen 69 million, respectively, compared
with Yen 178 million recurring profit and Yen 74 million net profit,
respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is
projected at Yen 220 million and the net profit at Yen 80 million,
respectively, on a 3% rise in turnover, to Yen 62,000 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 1,013.5 million, on 30 days normal terms.
Date
Registered: Mar 1960
Regd
No.: 4300-01-023716 (Sapporo-Chuoku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 3.84 million shares
Issued:
960,000 shares
Sum: Yen
480 million
Major
shareholders (%): Osamu Muto (11.3), Kiyo Takada (11.2), Employees’ S/Holding
Assn (10.5), Shunzo Ishida (9.0), other
No. of
shareholders: 55
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Imports and wholesales raw fish, shellfish, other (38%), frozen fish,
shellfish, other (38%), processed fish products, other (24%).
Clients:
[Mfrs, wholesalers] Nippon Suisan Kaisha, Kyokuyo Co, Maruha Nichiro Corp,
Nichirei Corp, Benirei Corp, other
No. of accounts: 500
Domestic areas of activities: Centered in Hokkaido
Suppliers:
[Mfrs, wholesalers] Imports from: North/South Americas, S/E Asia, Russia,
Australia, Korea, China, Europe, other
Domestically: Nippon Suisan, Kyokuyo Co, Maruha Nichiro
Corp, Benirei Corp, other
Payment
record: Slow but Correct
Location:
Business area in Sapporo. Office
premises at the caption address are leased and maintained satisfactory.
Bank
References:
Bank of Hokkaido (Chuo-Ichiba)
North Pacific Bank (H/O)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
62,000 |
60,207 |
55,879 |
56,123 |
|
Recur. Profit |
|
220 |
207 |
178 |
266 |
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Net Profit |
|
80 |
69 |
74 |
110 |
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Total Assets |
|
|
6,951 |
6,889 |
6,455 |
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Current Assets |
|
|
3,843 |
3,915 |
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Current Liabs |
|
|
3,720 |
3,311 |
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Net Worth |
|
|
1,420 |
1,460 |
1,497 |
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Capital, Paid-Up |
|
|
180 |
180 |
180 |
|
Div.P.Share(¥) |
|
|
15.00 |
10.00 |
10.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.98 |
7.75 |
-0.43 |
-0.55 |
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Current Ratio |
|
.. |
103.31 |
118.24 |
.. |
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N.Worth Ratio |
|
.. |
20.43 |
21.19 |
23.19 |
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R.Profit/Sales |
|
0.35 |
0.34 |
0.32 |
0.47 |
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N.Profit/Sales |
|
0.13 |
0.11 |
0.13 |
0.20 |
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Return On Equity |
|
.. |
4.86 |
5.07 |
7.35 |
Notes: Forecast (or estimated) figures for the 31/03/2015
fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.43 |
|
UK Pound |
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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Report Prepared
by : |
SHG |
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.