MIRA INFORM REPORT
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Report No. : |
332946 |
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Report Date : |
18.07.2015 |
IDENTIFICATION DETAILS
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Name : |
ISE FOODS INC |
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Registered Office : |
3440 Minoda Konosu City Saitama-Pref |
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Country : |
Japan |
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Financials (as on) : |
31.01.2015 |
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Date of Incorporation : |
June, 1971 |
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Com. Reg. No.: |
0100-01-141216 (Saitama-Konosu) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Chicken Raising; Wholesale of Chicken Eggs. |
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No. of Employees : |
174 |
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 : |
No Complaints |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times since 2008.
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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 2014 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. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
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Source
: CIA |
Company
Name and address
ISE FOODS INC
REGD NAME: Ise
Shokuhin KK
MAIN OFFICE: Yanmar
Tokyo Bldg 9F, 2-1-1 Yaesu Chuoku Tokyo 104-0028 JAPAN
Tel: 03-3516-8885 Fax: 03-3516-8806
*.. Registered at: 3440 Minoda Konosu City
Saitama-Pref
E-Mail address: (thru the URL)
ACTIVITIES
Chicken raising;
wholesale of chicken eggs
BRANCHES
Sendai, Niigata,
Nagano, Nagoya, Kanazawa, Okayama, Fukuoka (Tot 7)
FACTORIES
Miyagi, Ibaraki,
Niigata, Ishikawa, Okayama, other (Tot 8)
OFFICERS
HIKONOBU ISE, PRES Shuntaro Ise, v ch
Shichio Sato, v
pres Yukiya Kanzaki, v
pres
Atsushi Mizuno,
dir Kaoru Imai, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 42,301 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 20 M
TREND UP WORTH Yen 2,680 M
STARTED 1971 EMPLOYES 174
COMMENT
CHICKEN RAISING AND WHOLESALS EGGS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
HIGHLIGHTS
The subject company specializes in chicken raising and wholesaling chicken eggs. Operates 8 factories for raising chickens. Clients include
supermarkets, wholesalers, other
FINANCIAL
INFORMATION
Financials are disclosed only partially.
The sales volume for Jan/2015 fiscal term amounted to Yen 42,301
million, an 11% up from Yen 37,956 million in the previous term. The net profit
was posted at Yen438 million, compared with 62 million a year ago.
For the current term ending Jan 2016 the net profit is projected at Yen
450 million, on a 5% rise in turnover, to Yen 44,400 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
REGISTRATION
Date
Registered: Jun 1971
Regd
No.: 0100-01-141216 (Saitama-Konosu)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
160,000 shares
Issued:
40,000 shares
Sum:
Yen 20 million
Major shareholders (%): Hikonobu Ise (75.1), Shuntaro Ise (24.9)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Chicken raising:
wholesales chicken eggs (90%), liquid eggs (7%), frozen foods (processed) (3%)
Clients: [Mfrs, wholesalers]
Aeon Retail, CGC Japan, York Benimaru, Tobu Store, Life Corp, JA Z-Tamago Co
Ltd, other
No. of accounts:
350
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Ise Farm Tohoku, Misaki Farm, Ise Farm, JA Z-Tamago Co Ltd,
Tsukuba Farm, Ise Nojo (Farm), other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Toranomon-Chuo)
Hokuriku Bank (Takaoka)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/01/2016 |
31/01/2015 |
31/01/2014 |
31/01/2013 |
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Annual
Sales |
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44,400 |
42,301 |
37,956 |
34,980 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
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450 |
438 |
62 |
226 |
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Total
Assets |
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22,498 |
21,961 |
N/A |
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Net
Worth |
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2,680 |
2,194 |
2,134 |
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Capital,
Paid-Up |
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|
20 |
20 |
20 |
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Div.Ttl
in Million (¥) |
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2 |
2 |
2 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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4.96 |
11.45 |
8.51 |
-1.26 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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11.91 |
9.99 |
.. |
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N.Profit/Sales |
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1.01 |
1.04 |
0.16 |
0.65 |
Notes: Financials are only partially disclosed.
Forecast (or
estimated) figures for the 31/01/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.49 |
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|
1 |
Rs.99.43 |
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Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.