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Report No. : |
311036 |
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Report Date : |
07.03.2015 |
IDENTIFICATION DETAILS
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Name : |
NICHIREI FOODS INC |
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Registered Office : |
Nichirei Higashiginza Bldg, 6-19-20 Tsukiji Chuoku Tokyo 104-0045 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
January 2005 |
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Com. Reg. No.: |
091394 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is manufactures, imports, exports and
wholesales processed foods |
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No. of Employee : |
1,527 |
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 – 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 |
NICHIREI FOODS INC
REGD NAME: KK
Nichirei Foods
MAIN OFFICE: Nichirei
Higashiginza Bldg, 6-19-20 Tsukiji Chuoku Tokyo 104-0045 JAPAN
Tel: 03-3248-2179
Fax: 03-3248-2140
URL: http://www.nichireifoods.co.jp/
E-Mail
address: info@nichireifoods.co.jp
Import,
export, wholesale of processed foods
Sapporo,
Sendai, Osaka, Nagoya, Fukuoka, other (Tot 25)
Thailand,
Vietnam, China, Brazil, Australia, USA
Funabashi,
other (Tot 8)
YASUHIRO IKEDA, PRES Kenji Sato, S/mgn dir
Yoshifumi
Kaneko, dir Kunio Otani, dir
Motoharu Hayama, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 180,302 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
15,000 M
TREND SLOW WORTH Yen 32,494 M
STARTED 2005 EMPLOYES 1,527
MFR OF PROCESSED FOODS, WHOLLY
OWNED BY NICHIREI CORP
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established on the basis of
Processed Foods Division separated from Nichirei Corp, general processed foods
company, at the caption address (See REGISTRATION). Specializes in mfg processed foods:
frozen foods & vegetables, retort-pouched foods, acerola products,
other. Sales account for about 35% of
the total group sales. Goods are also
imported and exported. Clients include
leading general trading houses, food mfrs, other, nationwide.
The sales volume for Mar/2014 fiscal term amounted to Yen 180,302 million, a 6.7% up from Yen 168,920 million in the previous term. The recurring profit was posted at Yen 5,240 million and the net profit at Yen 1,253
million, respectively, compared with Yen 5,936
million recurring profit and Yen 1,615
million net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is
projected at Yen 6,000 million and the net profit at Yen 1,350 million,
respectively, on a 5 % rise in turnover, to Yen 189,500 million. Even though they have achieved
increase in income and profit for three terms in a row,
the devaluation of the yen is causing a considerable decrease in profits
.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date
Registered: Jan 2005
Regd
No.: (Tokyo-Chuoku) 091394
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 120 million shares
Issued:
30 million shares
Sum:
Yen
15,000 million
Major
shareholders (%): Nichirei Corp* (100)
*.. General processed food company
based on cold storage operations, at the caption address, founded 1942, listed
Tokyo S/E, capital Yen 30,307 million, turnover Yen 511,189 million, operating
profit Yen 15,789 million, recurring profit Yen 14,443 million, net profit Yen
8,898 million, total assets Yen 322,607 million, net worth Yen 133,456 million,
employees 12,970, pres Kunio Otani
Nothing
detrimental is known as to the commercial morality of executives.
Activities:
Manufactures, imports, exports and wholesales processed foods: frozen foods
& vegetables, acerola-based beverages, retort-pouch foods, canned foods,
health foods, other (--100%).
Clients:
[Mfrs, wholesalers] Mitsubishi Corp, Marubeni Corp, Itochu Foods, Mitsui &
Co, Asahi Foods, Takase Bussan, other
No. of accounts: 1,000
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Surapon Nichirei Foods Co, Zen-Noh, Chiba Chikusan Kogyo, other
Payment record: No
Complaints
Location: Business
area in Tokyo. Office premises at the
caption address are owned by the parent, Nichirei Corp, and maintained
satisfactorily.
Bank
References:
Mizuho Bank (Ohtemachi)
MUFG (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual
Sales |
|
189,500 |
180,302 |
168,920 |
162,718 |
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Recur.
Profit |
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5,300 |
5,240 |
5,936 |
5,240 |
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Net
Profit |
|
600 |
1,253 |
1,615 |
3,432 |
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Total
Assets |
|
|
86,643 |
74,952 |
71,956 |
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Current
Assets |
|
|
48,435 |
43,307 |
41,324 |
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Current
Liabs |
|
|
48,340 |
41,586 |
39,668 |
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Net
Worth |
|
|
32,494 |
31,609 |
30,350 |
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Capital,
Paid-Up |
|
|
15,000 |
15,000 |
15,000 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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5.10 |
6.74 |
3.81 |
4.89 |
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Current Ratio |
|
.. |
100.20 |
104.14 |
104.17 |
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N.Worth Ratio |
|
.. |
37.50 |
42.17 |
42.18 |
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R.Profit/Sales |
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2.80 |
2.91 |
3.51 |
3.22 |
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N.Profit/Sales |
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0.32 |
0.69 |
0.96 |
2.11 |
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Return On Equity |
|
.. |
3.86 |
5.11 |
11.31 |
Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.94.71 |
|
Euro |
1 |
Rs.68.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
ASH |
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.