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Report No. : |
300728 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
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Name : |
FUTABA SEED CO LTD |
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Registered Office : |
871 Takahira-Ozato Nanjyo City Okinawa-Pref 901-1205 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2014 |
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Date of Incorporation : |
June 1984 |
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Com. Reg. No.: |
3600-02-010678 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesales and retails vegetable/flower seeds & seedlings,
gardening supply and tools (--100%) Goods are sold online, too and mail-order systems. |
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No. of Employee : |
20 |
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 : |
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
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
FUTABA SEED CO LTD
REGD NAME
YK Futaba Shubyo Oroshibu
MAIN OFFICE
871 Takahira-Ozato Nanjyo City Okinawa-Pref 901-1205 JAPAN
Tel: 098-963-6011
Fax: 098-963-6012
URL: http://www.futabaseed.co.jp
E-Mail address: (thru the URL)
ACTIVITIES: Wholesale, retail of vegetable/flower seeds
& seedlings
BRANCHES: At the caption address (Store)
OFFICERS: JUNICHIRO TANIGUCHI, PRES
Hironobu
Taniguchi, dir
Kei Taniguchi, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 709 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 8 M
TREND SLOW WORTH Yen 130 M
STARTED 1984 EMPLOYES 20
WHOLESALE, RETAIL OF VEGETABLE SEEDS/SEEDLINGS. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Hironobu Taniguchi in order to
make most of his experience in the subject line of business. This is a specialized trader of
seed/seedlings for vegetables, flowers, other.
Also handles gardening tools & supplies. Goods are sold online, too. Market operation extend to other than
Okinawa-Pref.
Financials are only partially disclosed.
The sales volume for May/2014 fiscal term amounted to Yen 709 million, an
almost similar amount of Yen 206 million in the previous term. The recurring profit was posted at Yen 24
million and the net profit at Yen 17 million, compared with Yen 36 million net
profit a year ago.
For the current term ending May/2015 the recurring profit is projected
at Yen 26 million and the net profit at Yen 20 million, on a 3% rise in
turnover, to yen 730 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun 1984
Regd No.:
3600-02-010678 (Okinawa-Nanjo)
Legal Status:
Private Limited Company (Yugen Kaisha)
Authorized:
640 shares
Issued:
160 shares
Sum: Yen 8 million
Major shareholders
(%): Hironobu Taniguchi & families (--100)
No. of shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Wholesales and
retails vegetable/flower seeds & seedlings, gardening supply and tools
(--100%)
Goods are sold online, too and mail-order systems.
Clients: [Mfrs,
wholesalers] Okinawa-Pref Agricultural Coop (30%), Sakata No Tane, Murakami
Seed, Southern Plant, Tokyo Kadan, other.
No. of accounts: 300
Domestic areas of
activities: Limited in Okinawa-Pref
Suppliers: [Mfrs,
wholesalers] Sakata No Tane, Takii Shubyo, Southern Plant, other
Imports from S/E Asia, other
Payment record: Slow But Correct
Location: Business area in
Okinawa. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Bank of Okinawa (Minami-Haebaru)
Ryukyu Bank (Higashi-Haebaru)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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31/05/2015 |
31/05/2014 |
31/05/2013 |
31/05/2012 |
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Annual Sales |
|
730 |
709 |
706 |
727 |
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Recur. Profit |
|
26 |
24 |
.. |
.. |
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Net Profit |
|
20 |
17 |
36 |
33 |
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Total Assets |
|
|
377 |
N/A |
N/A |
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Net Worth |
|
|
130 |
113 |
77 |
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Capital, Paid-Up |
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8 |
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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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2.96 |
0.42 |
-2.89 |
19.97 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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34.48 |
.. |
.. |
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N.Profit/Sales |
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2.74 |
2.40 |
5.10 |
4.54 |
Notes: Financials are only
partially disclosed. The firm disclosed
Total Assets & Net Worth for the first
time for 31/05/2014. Net worth is adjusted accordingly.
Forecast (or estimated) figures for the 31/05/2015 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
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|
1 |
Rs.93.27 |
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Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.