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Report No. : |
308203 |
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Report Date : |
14.02.2015 |
IDENTIFICATION DETAILS
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Name : |
VAN FOODS CO LTD |
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Registered Office : |
2002-2 Dosawa Nikko City Tochigi-Pref 321-1274 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2015 (estimated) |
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Date of Incorporation : |
September 1999 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged as Importer and wholesaler
of foodstuffs (including Fish,
Meat, Ham, Sausage, Vegetables) & Drinks such as Mineral Water |
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No of Employees : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 1.5 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
VAN FOODS CO LTD
YK Van Foods
2002-2 Dosawa Nikko City Tochigi-Pref 321-1274 JAPAN
Tel: 0288-26-9940
URL: N/A
Engaged as Importer and wholesaler of foodstuffs (including Fish, Meat, Ham, Sausage, Vegetables) & Drinks such as Mineral Water
Nil
SACHIO TAMURA, PRES
Yen Amount: In million
Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 85 M
PAYMENTSslow CAPITAL Yen 3 M
TREND UP WORTH Yen 13 M
STARTED 1999 EMPLOYES 2
TRADING
FIRM SPECIALIZING IN FOODSTUFFS.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOUL BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: ESTIMATED AT YEN 1.5 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established by Sachio Tamura in order to make most of his experience in the subject line of business. This is a trading firm for import and wholesale foodstuffs (including Fish, Meat, Ham, Sausage, Vegetables) & Drinks such as Mineral Water
Financials are disclosed only partially. Sales amount for Aug/2014 fiscal term was not precisely disclosed and is only estimated.
The sales volume for Aug/2014
fiscal term is estimated amounted to Yen 85 million, a 6% up from Yen 80
million in the previous term. The net profit
was posted at Yen 1 million, compared with Yen 1 million net losses a year ago.
For the current term ending
Aug 2015 the net profit is projected at Yen 2 million, on a 2% rise in
turnover, to Yen 87 million.
The financial situation is
considered RATHER WEAK but should be good for MODERATE business
engagements. Max credit limit is
estimated at Yen 1.5 million, on 30 days normal terms.
Date Registered: Sept 1999
Legal Status: Private Limited Company (Yugen Gaisha)
Capital Sum: Yen
300million
Issued: Yen 3 million
Major shareholders (%): Sachio Tamura (100)
Nothing detrimental is known as to his commercial morality.
Activities: Imports and wholesales foods (fish, meat, ham, sausage, vegetables), drinks & other foodstuff (--100%)
Clients: [Mfrs, wholesalers] Gourmet Meat World Co, other
No. of accounts: Limited
Domestic areas of activities: Centered in Tochigi-Pref
Suppliers: [Mfrs, wholesalers] Imports from Spain, Australia, other
Payment record: slow
Location: Business area in Nikko City, Tochigi-Pref. Office premises at the caption address are leased and maintained satisfactory.
Bank References:
Tochigi Bank (Imaichi)
SMBC (Oyama)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
|
31/08/2015 |
31/08/2014 |
31/08/2013 |
31/08/2012 |
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Annual
Sales |
|
87 |
85 |
80 |
87 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
2 |
1 |
-1 |
-1 |
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Total
Assets |
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|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
13 |
12 |
13 |
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Capital,
Paid-Up |
|
|
3 |
3 |
3 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.35 |
6.25 |
-8.05 |
19.18 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
2.30 |
1.18 |
-1.25 |
-1.15 |
Notes:
Financials are only partially disclosed.
Figures for the 3108/2014 fiscal term are estimated as not precisely
disclosed.
Forecast (or estimated) figures for the 31/08/2015 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
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UK Pound |
1 |
Rs.95.78 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
MNL |
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 |
|
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 |
|
-- |
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.