MIRA
INFORM REPORT
|
Report Date : |
07.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
JAPAN EUROPE TRADING CO LTD |
|
|
|
|
Registered Office : |
NBF Shibakoen Bldg 4F, 3-2-18 Shiba Minatoku Tokyo 105-0014 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Date of Incorporation : |
Dec 1981 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, wholesale, retail of wines,
foods, from Italy |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 85.2 millions |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
-- |
name
JAPAN EUROPE TRADING CO LTD
REGD NAME
Nichio Shoji KK
MAIN OFFICE
NBF Shibakoen Bldg 4F, 3-2-18 Shiba Minatoku Tokyo 105-0014 JAPAN
Tel: 03-5730-0311
Fax: 03-5730-0322
URL: http://www.jetlc.co.jp
E-Mail address: info@jetlc.co.jp
ACTIVITIES
Import, wholesale, retail of wines, foods, from Italy
BRANCHES
Osaka, Nagoya, Fukuoka
OFFICERS
COHEN P LUCIANO, PRES Tamiyoshi
Kuwahara, v pres
T Cohen, v pres Michio
Uchino, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 4,085 M
PAYMENTS REGULAR CAPITAL Yen 99 M
TREND STEADY WORTH Yen 947 M
STARTED 1981 EMPLOYES 71
COMMENT
IMPORTER OF ITALIAN WINES & FOODSTUFFS. FINANCIAL SITUATION CONSIDERED FAIR AND
GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 85.2 MILLION, 30 DAYS NORMAL
TERMS. .
HIGHLIGHTS
The subject company was established by Cohen P Luciano, an
Italian resident, for importing wines and foodstuffs from Italy, under support
of Martini & Rossi, Italy. In 1996,
the holdings of Martini & Rossi, then top shareholder, were transferred to
Swiss firms, and after wards the firm bought back the shares and now owned by
Luciano Cohen Corp. The subject
specializes in import, wholesale and retail of wines, olive oils, pasta,
coffee, other foodstuffs, from Italy.
Italian wines’ market share in Japan is 18.3%; the subject’s share is 9%
of all Italian wine imports.
FINANCIAL INFORMATION
The sales volume for Dec/2005 fiscal term amounted to Yen 4,085 million, an 8% up from Yen 3,797 million in the previous term, boosted by growing popularity, particularly among younger generations, for wines & Italian foods. As a result, the recurring profit increased to Yen 166 million and the net profit to Yen 90 million, respectively, from Yen 147 million recurring profit and Yen 76 million net profit, respectively, a year ago.
For the term ended Dec 2006 the net profit was projected and believed
posted at Yen 95 million, on a 5% rise in turnover, to Yen 4,300 million. Demand continues growing. Final results have not been made available
yet.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 85.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec
1981
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 99,000
shares
Issued: 99,000
shares
Sum: Yen
99 million
Major shareholders (%): Luciano Cohen Corp (100%)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, wholesales and retails wines (46%), soups,
sauces, coffee, spices, pasta, other Italian foodstuffs (54%).
Wholesale 65% (hotels, restaurants, department stores);
retail 35%.
Clients: [Specialty stores, hotels, restaurants, wholesalers] Kokubu Ltd, Ryoshoku, Meidi-Ya, Kinokuniya, Sanyu Koami, Mitsui Foods, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, negociants, wholesalers] Mennuci, Darari, La
Doraia, Masi, Ferrari, Tosty (--Italy), other from Italy and France.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
IntesaBci Spa (Tokyo)
MUFG (Roppongi)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/12/2006 |
31/12/2005 |
31/12/2004 |
|
|
Annual
Sales |
|
4,300 |
4,085 |
3,797 |
|
Recur.
Profit |
|
|
166 |
147 |
|
Net
Profit |
|
95 |
90 |
76 |
|
Total
Assets |
|
|
2,788 |
2,514 |
|
Current
Assets |
|
|
2,702 |
2,440 |
|
Current
Liabs |
|
|
1,799 |
1,588 |
|
Net
Worth |
|
|
947 |
888 |
|
Capital,
Paid-Up |
|
|
99 |
99 |
|
Div.P.Share(¥) |
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.26 |
7.58 |
6.84 |
|
|
Current Ratio |
|
.. |
150.19 |
153.65 |
|
N.Worth Ratio |
.. |
33.97 |
35.32 |
|
|
R.Profit/Sales |
|
.. |
4.06 |
3.87 |
|
N.Profit/Sales |
2.21 |
2.20 |
2.00 |
|
|
Return On Equity |
.. |
9.50 |
8.56 |
|
Note: Forecast (or estimated) for the 31/12/2006 fiscal
term.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)