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Report No. : |
339061 |
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Report Date : |
05.09.2015 |
IDENTIFICATION DETAILS
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Name : |
FUJI TRADING CO LTD |
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Registered Office : |
3-9-3 Shin-Yamashita Nakaku Yokohama 231-0801 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
May, 1953 |
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Com. Reg. No.: |
0200-01-028683 (Yokohama-Nakaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Supplier of Ship Stores, Foodstuffs, Equipment, etc to Merchant Ships;
Import of Wine. |
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No. of Employees : |
224 |
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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Maximum Credit Limits : |
Yen 948.6 Million |
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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 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.
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Source
: CIA |
FUJI TRADING CO LTD
REGD NAME: Fuji
Boeki KK
MAIN OFFICE: 3-9-3
Shin-Yamashita Nakaku Yokohama 231-0801 JAPAN
Tel: 045-622-2686 Fax: 045-625-2011
URL: http://www.fujitrading.co.jp/
E-Mail address: mhq@fujitrading.co.jp
Supplier of ship
stores, foodstuffs, equipment, etc to merchant ships; import of wine.
Tokyo, Kobe, Moji,
other (Total 10)
London, Rotterdam, Oslo, Dubai, Durban, Pusan, Hong Kong, Singapore (2),
Malaysia, Karatha (W Australia), Shanghai (--subsidiaries)
MASAHARU ONO, PRES Tsuneharu Hiyoshi,
mgn dir
Hidenori Ishikawa,
mgn dir Osamu Fukada, mgn
dir
Yuzo Koike, dir Ryuhei Miyazaki, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 27,106 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 100 M
TREND STEADY WORTH Yen 6,010 M
STARTED 1953 EMPLOYES 224
SUPPLIER OF SHIP EQUIPMENT, STORES, PROVISIONS; IMPORT OF WINES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 948.6 MILLION, 30 DAYS NORMAL TERMS
The subject
company was established by C Koike in Kobe at the capital of Yen 250,000, in
order to supply ship stores, provisions to merchant vessels and has been
succeeded by the present executives. In 1967, moved the head office to Yokohama. In 1972,
increased the capital to Yen 100 million and started ship repair and technical services in Kobe. Masaharu Ono took
the pres office in Apr 2008. The supplies range
from ship tools, wires, air bags,
to provisions & perishables. Offers ship repair, maintenance, and related technical services, too. Operates
subsidiaries and offices at
major ports worldwide. Also imports wines, olive oil, chocolates, other
foodstuffs & confectionery from Europe.
The sales volume for
Mar/2015 fiscal term amounted to Yen 27,106 million, an 8% up from Yen 25,062 million in the previous term. The recurring
profit was posted at Yen 915 million and the net profit at Yen 610 million,
respectively, compared with Yen 540 million recurring profit and Yen 329
million net profit, respectively, a year ago.
For the current
term ending Mar 2016 the recurring profit is projected at Yen 950 million and
the net profit at Yen 630 million, respectively, on a 5% rise in turnover, to
Yen 28,400 million. Imports of wines
& olive oils, others increasing. The weaker Yen may contribute to raise
earnings in Yen terms.
The financial
situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 948.6 million,
on 30 days normal terms.
Date
Registered: May 1953
Regd
No.: 0200-01-028683 (Yokohama-Nakaku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued: 200,000 shares
Sum:
Yen 100 million
Major shareholders
(%): Yuzo Koike (19), Employees’ S/Holding Assn (11), Yoshiaki Koike (9),
Iyo Bank (5), other
No.
of shareholders: 80
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Supplier of ship
equipment, engine parts, marine instruments, ship tools, other ship machinery
& parts, ship stores, foods, others, wires, air bags, anti-splashing tapes,
domestic cleaners, rust-preventive chemicals, surface cleaning agents, bio-gradable
refuse sacks, ozone-friendly aerosol products, container lashing gears, IMPA
CD-Rom’s, marine store guide, etc to oceangoing merchant ships, import,
wholesales wines, liquors, olive oil, chocolates, other foods &
confectionery, other (--100%)
Also offers ship repair, maintenance and related technical
services.
Clients: [Ship owners,
ship operators] Kawasaki Kisen Kaisha, Mitsui-OSK Lines, Nippon Yusen Kaisha,
Petronas Tankers, Shell International Shipping, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Daihatsu Diesel Service, IHI, Kobe Diesel Co, Akasaka Diesels,
Mitsubishi Heavy Ind, other.
Payment
record: No Complaints
Location: Business area in Yokohama. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Yokohama-Chuo)
Iyo Bank (Tokyo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
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Annual
Sales |
|
28,400 |
27,106 |
25,062 |
23,235 |
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Recur.
Profit |
|
950 |
915 |
540 |
756 |
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Net
Profit |
|
630 |
610 |
329 |
498 |
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Total
Assets |
|
|
12,757 |
12,162 |
12,151 |
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Current
Assets |
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|
9,916 |
9,271 |
9,300 |
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Current
Liabs |
|
|
5,493 |
5,474 |
5,554 |
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Net
Worth |
|
|
6,010 |
5,440 |
5,150 |
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Capital,
Paid-Up |
|
|
100 |
100 |
100 |
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Div.Ttl
in Million (¥) |
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|
40 |
40 |
35 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.77 |
8.16 |
7.86 |
0.96 |
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Current Ratio |
|
.. |
180.52 |
169.36 |
167.45 |
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N.Worth Ratio |
|
.. |
47.11 |
44.73 |
42.38 |
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R.Profit/Sales |
|
3.35 |
3.38 |
2.15 |
3.25 |
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N.Profit/Sales |
|
2.22 |
2.25 |
1.31 |
2.14 |
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Return On Equity |
|
.. |
10.15 |
6.05 |
9.67 |
Notes:
Forecast (or estimated) figures for 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
|
|
1 |
Rs.101.19 |
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Euro |
1 |
Rs.73.89 |
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.