|
Report No. : |
305869 |
|
Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
NATIONAL
FEDERATION OF AGRICULTURAL COOPERATIVE ASSOCIATIONS |
|
|
|
|
Registered Office : |
JA Bldg, 1-3-1 Ohtemachi Chiyodaku Tokyo
100-0004 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2015 (Estimated) |
|
|
|
|
Date of Incorporation : |
May 1972 |
|
|
|
|
Com. Reg. No.: |
0100-05-000987 (Tokyo-Chiyodaku) |
|
|
|
|
Legal Form : |
Federation (Rengokai) |
|
|
|
|
Line of Business : |
Subject is a National Federation of Agriculture
Cooperatives Association, Managing, Handling and Operating Rice, Crops, Livestock,
Horticulture, Fertilizer, Oils/Fuels, Agricultural Machines & Equipment |
|
|
|
|
No of Employees : |
8,038 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but Correct |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
NATIONAL FEDERATION OF AGRICULTURAL COOPERATIVE
ASSOCIATIONS
Zenkoku Nogyo Kyodo Kumiai Rengokai
JA Bldg, 1-3-1
Ohtemachi Chiyodaku Tokyo 100-0004 JAPAN
Tel:
03-6271-8111 Fax: 03-5218-2510
*.. The given Division Name is one of its Divisions
URL: http://www.zennoh.co.jp
E-Mail address: (thru the URL)
Subject is a National
Federation of Agriculture Cooperatives Association, Managing, Handling and
Operating Rice, Crops, Livestock, Horticulture, Fertilizer, Oils/Fuels,
Agricultural Machines & Equipment
900
locations nationwide
China,
Australia, Germany, Canada, USA, other
HITOMI
NARIKIYO, REP
Geniichi
Kamiide, rep
Masanobu
Yoshinaga, rep
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 5,194,075 M
PAYMENTSSlow but Correct CAPITAL Yen
115,275 M*
TREND UP WORTH Yen 304,744 M
STARTED 1972 EMPLOYES 8,038
*..
Investment from members/associate members
NATIONAL FEDERATION OF AGRICULTURAL COOPERATIVES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject is a national federation of agricultural cooperatives. It covers: rice, crops livestock, horticulture, fertilizer, oils/fuels, agricultural machines & equipment. It has 1,148,058 members and 4,699 associate members under the Association.
The sales volume for Mar/2014 fiscal term amounted to Yen 5,194,075 million, a 5% up from Yen 7,930,571 million in the previous term. The net profit was posted at Yen 9,212 million, compared with Yen 10,711 million a year ago.
For the current term ending Mar 2015 the net profit is projected at Yen 9,400 million, on a 5% rise in turnover, to Yen 5,455,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: May
1972
Regd No.: 0100-05-000987 (Tokyo-Chiyodaku)
Legal Status:
Federation (Rengokai)
Sum: Yen 115,275.7 million (Investments from
members)
Major shareholders (%): 1,148,058 members and 4,699
associate members
Nothing
detrimental is known as to the commercial morality of executives.
Activities: This is a national federation of agriculture cooperatives association, managing, handling and operating: rice, crops, livestock, horticulture, fertilizer, oils/fuels, agricultural machines & equipment, other (--100%)
Clients: Agricultural associations, economic/agricultural associations, cooperatives, wholesale markets, supermarkets, dairy makers, trading firms, other
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Agricultural cooperatives nationwide, Idemitsu Kosan (oils), Nissan Motor, Mitsubishi Chemical, Kubota, other
Payment record: Slow but Correct
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Norin Chukin Bank (H/O)
Mizuho Bank (Tokyo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
Annual
Sales |
|
5,455,000 |
5,194,075 |
4,930,571 |
4,915,782 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
9,400 |
9,212 |
10,711 |
11,405 |
|
Total
Assets |
|
|
N/A |
1,225,241 |
1,279,257 |
|
Net
Worth |
|
|
304,744 |
295,532 |
284,821 |
|
Capital,
Paid-Up |
|
|
115,275 |
115,275 |
115,275 |
|
Div.Ttl
in Million (¥) |
|
|
3,399 |
0.00 |
3,399 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.02 |
5.34 |
0.30 |
-0.57 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
24.12 |
22.26 |
|
N.Profit/Sales |
|
0.17 |
0.18 |
0.22 |
0.23 |
Notes:
Capitals are Investments from members & associate members
Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.76 |
|
UK Pound |
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.