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Report No. : |
298734 |
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Report Date : |
05.01.2015 |
IDENTIFICATION DETAILS
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Name : |
TFB FACTORIES LTD. |
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Registered Office : |
ERVIC Ningo-cho 2F., 1-2-5, Nihonbashi-ningyo-cho, Chuo-ku,
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Country : |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
28.05.1999 |
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Com. Reg. No.: |
0100-01-064668 ( |
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Legal Form : |
Private Limited Company |
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Line of Business : |
·
Engaged
in Sales & Marketing for Imported Petfoods Engaged in Manufacturing for Pet Treats Engaged in Import & Distribution for Live
Tropical Fish Engaged as Exporter for Petfoods Engaged in Import & sales for Processed Food Product |
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No of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 15,000 |
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Status : |
Moderate |
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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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
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.
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Source : CIA |
TFB FACTORIES LTD.
Company name: TFB FACTORIES LTD.
Name in local language: TFB
FACTORIES K.K.
Office address: ERVIC Ningo-cho
2F., 1-2-5, Nihonbashi-ningyo-cho, Chuo-ku,
Tokyo 103-0013
Country: Japan
Office tel: 03-5651-1779
Office fax: 03-5651-1789
Website: www.tfb-co.jp
Business type: Trader/Manufacturer
Industry: Pet food, aquarium fish, food
products
Established: May 28, 1999
Capital: Jp.
282,000,000 yen
Employees: 20
Corporate formation: Private
Limited Company
Corporation No.: 0100-01-064668
(Tokyo Legal Affairs Bureau)
Paid in capital : Jp. 282,000,000 yen
Number of authorized shares : 15,000
shares
Shares issued : 4,978
shares
Number of shareholder : 2
Name of shareholders
Number of
shares (%)
-----------------------------------------------------------------------------------------------------------
Bush’s Pet Foods Pty. Ltd. (Australia) n.
a.
Nippon Pet Food K.K.
n. a.
Activity Product/Service
Description
-------------------------------------------------------------------------------
Trading Pet food and food products
Trading Aquarium fish
Manufacturing Pet food
President Mr. Hisashi
Takahashi
Nationality: Japan
Chairman Mr.
Takashi Asai
Nationality: Japan
Director Mr.
Naoki Tachibana
Nationality: Japan
Director Mr. Toru Tsuchiya
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
==============
Mr. Hisashi Takahashi
President and representative director
Born on October 18, 1968
Home address: 4-21-5, Shibamata, Katsushika-ku, Tokyo 125-0052
Currency: (local currency - Jp. yen)
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Year | Sales | Net Income
-------------------------------------------------------------------------------------
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2008 |
4,480,000,000 |
97,190,000 |
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2009 |
5,000,000,000 |
70,000,000 |
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2010 |
3,628,000,000 |
n. a. |
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2011 |
3,500,000,000 |
n. a. |
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2012 |
3,500,000,000 |
loss 464,475,000 |
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2013 |
3,500,000,000 |
n. a. |
*Book Closing*
============
September 30th
*Financials*
==========
As a private limited company, no official financial statement is
required to be disclosed publicly.
Available financial statement is B/S for 2012 only.
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Balance Sheet |
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Unit: thousands of JP yen |
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9/30/2012 |
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Current Assets |
636,433 |
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Fixed assets |
820,712 |
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Total Assets |
1,457,145 |
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Current liabilities |
869,234 |
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Fixed liabilities |
538,692 |
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Shareholders' equity |
49,219 |
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Paid up capital |
318,200 |
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Capital reserves |
54,200 |
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Retained earnings |
-307,505 |
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Treasury stock |
-15,676 |
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Total Liabilities & Net
Assets |
1,457,145 |
*Bank Details*
============
Bank Name : Bank of
Tokyo-Mitsubishi UFJ, Ltd.
Branch : Nihonbashi-chuo
Bank Name : Bank of Yokohama,
Ltd.
Branch : Tokyo
Bank Name : Chiba Bank, Ltd.
Branch : Fukagawa
*Credit Opinion*
=============
The subject is a Tokyo-based joint venture between Bush’s Pet Foods Pty.
Ltd. and Nippon Pet Food K.K., of which breakdown of the shareholding is not
disclosed.
The profile of the Japanese parent is as follows:
Address: Tennouzu First Tower 5F., 2-2-4,
Higashi-shinagawa, Shinagawa-ku,
Tokyo
Date of foundation: December 24, 1963
Capital paid-in: JPY100 million
President: Mr. Naoki Miyahara
Nippon Pet Food K.K. was originally founded with the business assets of
Kyodo Shiryo Co., Ltd., which used to be a public listed company, now a
subsidiary of Feed One Holdings Co., Ltd.(#2060) as of October 2014.
As for the performance of the subject, a huge amount of loss was posted
for Sep. 2012 term.
Other recent net income data have not been disclosed. The retained
losses have not been recovered yet since then.
It would be advisable to research the financial status of Australian
parent to make sure who it is.
Our standard suggestion would be up to US$ 15,000 on terms of 90 days.
Branch name: Osaka branch
Branch address: 4F, 17-1, Enoki-cho,
Suita-shi, Osaka pref.
Branch tel: 06-6310-9760
Branch fax: 06-6310-9761
----------------------------------------------------------------------------------------------------
Branch name: Direct shop
Branch address: 1777-1, Oshitate,
Inaki-shi, Tokyo
*Main Products & Services*
======================
·
Engaged
in Sales & Marketing for Imported Petfoods
Engaged in Manufacturing for Pet Treats
Engaged in Import & Distribution for Live
Tropical Fish
Engaged as Exporter for Petfoods
Engaged in Import & sales for processed
food product
Toyama plant: 1046, Nishi-takagi, Imizu-shi, Toyama pref.
Kobe distribution center: 2F, 4-1-1, Yasaka-dai,
Suma-ku, Kobe-shi, Hyogo
*Address*
=========
Registered address is the same as the operational address.
The quoted address is for Kobe distribution center.
*Company History*
================
Date Development
-----------------------------------------------------------------------------------------------
May 28, 1999 Incorporated under the name of “Tokyo Food Boeki Ltd.” with an
investment of JPY
20 million as a joint venture between Bush’s Pet
Foods Pty., Ltd.
(Australia) and Nippon Pet Food K.K.
2001 Increased the capital to JPY 24 million.
2003 Increased the capital to JPY 52
million.
Started importing pet
foods from China.
2005 Founded a joint venture with a Chinese
firm.
Started importing coffee
and coffee beans.
2006 Started a retail business.
2007 Increased the capital to JPY 68
million.
December 2008 Took the current company name.
2009 Merged a subsidiary, “Good Ream Ltd.”
May 2009 Increased the capital to JPY 100 million.
September 2009 Increased the capital to JPY 282 million.
Capital association with
“APB JUNAX Pty. Ltd.” in Australia.
2010 Founded a joint venture in Thailand.
2011 Started a joint venture in Indonesia.
September 2012 Increased the capital to JPY 318.2 million.
August 2013 Decreased the capital to JPY 282 million.
*Suppliers*
==========
APB JUNAX Pty. Ltd.
Dalian Zhongliang
Livestock & Poultry Co., Ltd.
Kurose Pet Food Co., Ltd.
Nakamura Sogyo Co., Ltd.
R.S. Cannery Co., Ltd.
*Customers*
==========
Nippon Pet Food K.K.
Cainz Corp.
Joyful Honda Corp.
Doggy Man Hayashi Inc.
Yamahisa Corp.
Company name: APB JUNAX PTY LTD
Country: Australia
Status: Affiliate
----------------------------------------------------------------------------------------------------
Company name: Dalian Zhongliang Livestock & Poultry Co., Ltd.
Country: China
Status: Affiliate
----------------------------------------------------------------------------------------------------
Company name: RS CANNERY CO LTD
Country: Thailand
Status: Affiliate
----------------------------------------------------------------------------------------------------
Company name: PT JATI PETFOOD
Country: Indonesia
Status: Affiliate
----------------------------------------------------------------------------------------------------
Company name: Japan Pet Communications Co., Ltd.
Country: Japan
Status: Affiliate
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.29 |
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UK Pound |
1 |
Rs.98.39 |
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Euro |
1 |
Rs.76.31 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
MNL |
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 |
-- |
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.