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Report No. : |
345997 |
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Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
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Name : |
JAPAN TUNA FISHERIES CORPORATIVE ASSOCIATION |
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Registered Office : |
Coi Eitai Bldg, 2-31-1
Eitai Kotoku Tokyo 135-0034 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
February 2006 |
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Com. Reg. No.: |
0106-05-001858
(Tokyo-Kotoku) |
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Legal Form : |
Cooperative Association |
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Line of Business : |
Non-Profit
organization to promote the proper conservation & management of tuna
stocks, coordination of tuna catches, coordination of membership
corporations, other related operations & management (--100%). |
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No. of Employee : |
18 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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 first-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.
|
Source
: CIA |
JAPAN
TUNA FISHERIES CORPORATIVE ASSOCIATION
REGD
NAME: Nihon Katsuo Maguro Gyogyo Kyodo Kumiai
MAIN
OFFICE: COI Eitai Bldg, 2-31-1 Eitai
Kotoku Tokyo 135-0034 JAPAN
Tel:
03-5646-2380 Fax: 03-5646-2653
E-Mail address: info@japantuna.or.jp
Non-profit organization to manage tuna
fisheries, tuna fishing boats;
The operation of the objects is conducted by profit-organization, Japan Tuna Fisheries Corporation, at the
caption address
Nil
Yaizu (cold storage warehouse, operated by
the subsidiary)
JUN YAMASHITA, MGN DIR
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 14,888 M
PAYMENTS SLOW
BUT CORRECT CAPITAL Yen 189 M*
TREND STEADY WORTH Yen 273 M
STARTED 2006 EMPLOYES 18
*.. Invested from member companies
NON PROFIT ORGANIZATION TO MANAGE TUNA FISHERIES, TUNA FISHING BOATS,
OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR PROPER BUSINESS
ENGAGEMENTS.
The subject
company was established originally in 1950 as a non-profit organization, named
Federation of Japan Tuna Fisheries Cooperative Association, under the Ministry
of Agriculture, Forestry & Fisheries, in order to engage in management,
operation, supervision and control of tuna fisheries of small/medium fisheries
firms, nationwide from Hokkaido down to Kyushu.
It also promotes restraint of the increase in the number of large-scale
tuna long-liners in the world to prevent over exploitation of tuna
resources. In Feb 2006, the subject firm
restructured and renamed to Japan Tuna Fisheries Cooperative Association, and
simultaneously founded Japan Tuna Fisheries Corporation, in order to implement
the principle/objectives of the Association.
The restructuring was aimed to improve management and operation which
were adversely affected by poor catches and rising fuel oil prices. In Mar 2006, the whole operation activities
of the former Federation ceased. The
subsidiary started operation in Apr 2006.
In Jul 2006, both Association and the subsidiary moved headquarters to
the caption address. The two are
inseparable bodies, one is non-profit organization & the other profit
organization, as the Association says.
The revenues for
Mar/2015 fiscal term amounted to Yen 14,888 million, a 120% up from Yen 12,429
million in the previous term. Fishing
activities returned to normal after affected by the Great East Earthquake in
2011, when fishing vessels/boats and activities were substantially damaged with
number of ships sunk or lost. The net
profit was posted at 2 million, compared with Yen 4 million a year ago
For the current term ending Mar 2016 the net profit is projected at Yen
5 million, on a 5% rise in turnover, to Yen 15,650 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 273.9 million, on 30 days normal terms.
Date
Registered: Feb 2006
Regd
No.: 0106-05-001858
(Tokyo-Kotoku)
Legal
Status: Cooperative Association
Investments Yen
189 million
Major
shareholders (%): Tuna fisheries firms, nationwide
(--100%).
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Non-Profit organization to promote the
proper conservation & management of tuna stocks, coordination of tuna
catches, coordination of membership corporations, other related operations
& management (--100%).
Clients:
Member firms, Ministry of
Agriculture, Forestry & Fisheries, The Fishing Industry/Communities Promotion Organization,
other
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Fishers, African seas,
South-Pacific seas, other
Payment record: Slow but correct
Location: Business area in Tokyo. Office
premises at the caption address are leased and maintained satisfactorily.
Bank
References:
Norin Chukin Bank (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms
Ending: |
|
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
Annual Sales |
|
15,650
|
14,888
|
12,429
|
5,430 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
5 |
2 |
4 |
2 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
273 |
268 |
264 |
|
Capital, Paid-Up |
|
|
189 |
186 |
191 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.12 |
19.78 |
128.90
|
180.33
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
0.03 |
0.01 |
0.03 |
0.04 |
Notes: Financials are only partially
disclosed.
Forecast (or estimated) figures for the
31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.97 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.