MIRA
INFORM REPORT
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Report Date : |
18.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
YOHJI YAMAMOTO INC |
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Registered Office : |
T33 Bldg, 2-2-43 Higashishinagawa Shinagawaku Tokyo 140-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2007 |
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Date of Incorporation : |
Jan 1979 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale, retail of men’s &
women’s fashion garments |
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 Limit : |
Yen 333.7 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
YOHJI YAMAMOTO INC
REGD NAME
KK Yohji Yamamoto
MAIN OFFICE
T33 Bldg, 2-2-43 Higashishinagawa Shinagawaku Tokyo 140-0002 JAPAN
Tel : 03-5463-1501
Fax : 03-5463-1529
URL : http://www.yohjiyamamoto.co.jp
E-mail :
yy.information@yohjiyamamoto.co.jp
ACTIVITIES
Wholesale, retail of men’s & women’s fashion garments
BRANCHES
Tokyo, Osaka, Yokohama, Nagoya, Sapporo, other (Tot 86)
OVERSEAS
USA (2), France (3), Belgium, UK, Italy (3), Hong Kong
(--subsidiaries)
STORES
Domestic 372; Overseas 3 (Paris, London & New York)
FACTORY(IES)
(subcontracted)
OFFICERS
YOHJI YAMAMOTO, PRES
Keizo Tamoto, dir
Tadashi Kubo, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 10,898 M
PAYMENTS REGULAR CAPITAL Yen 90 M
TREND STEADY WORTH Yen 5,026 M
STARTED 1979 EMPLOYES 1979
COMMENT
IMPORTER & WHOLESALER SPECIALIZING IN DESIGNER BRAND
CLOTHING. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 333.7 MILLION, 30 DAYS NORMAL
TERMS.
HIGHLIGHTS
The subject company was established by Yohji Yamamoto in order to
make most of his experience as a fashion clothing designer. This is a trading firm, with mfg division,
for import and wholesale of clothing for men & women. Brands are: Yohji Yamamoto, Yohji Yamamoto
pour Homme, Y’s, Y’s for Men, Yohji Yamamoto + Noir. In 2002, signed licensing agreement with Adidas-Salomon AG
(Germany) for mfg sports wear, branded Y-3.
Operates a total 372 shops nationwide, and 3 overseas (Paris, London &
New York). 11 overseas subsidiaries are
engaged in marketing. Clients are department
stores, retail stores, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Aug/2006 fiscal term amounted to Yen 10,898 million, a 7% down from Yen 11,667 million in the previous term. Consumer spending remained rather sluggish for luxury brand goods. The net profit was posted at Yen 465 million; this includes Yen 623 million extraordinary income, compared with Yen 33 million net profit a year ago.
For the term ended Aug 2007 the net profit was projected and
believed posted at Yen 55 million, on a 1% rise in turnover, to Yen 11,000
million. Final results are yet to be
released.
The financial situation is considered FAIR to GOOD and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 333.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan
1979
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 720,000
shares
Issued: 180,000
shares
Sum: Yen
90 million
Major shareholders (%): Yohji
Yamamoto (40), Company’s Treasury Stock (30), Fumi Yamamoto (20), Goro
Hayashi
(5)
No. of shareholders: 5
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, wholesales and retails fashion garments & accessories for men & women, with designing and mfg division (--100%).
(Sales breakdown): Department stores (34%), direct run stores (25%), export (13%), branch offices (11%), designing (6%), retail stores (5%).
(Brands): Yohji Yamamoto (deluxe women’s ready-to-wear);
Yohji Yamamoto pour Homme (deluxe men’s ready-to-wear); Y’s (women’s
ready-to-wear); Y’S for Men (Men’s ready-to-wear); Yohji Yamamoto + Noir
(women’s ready-to-wear).
Clients: [Department stores, chain stores, retail shops] Seibu Department Stores, Isetan, Parco, Matsuya, Marui, other.
No. of accounts: 1,000 – 2,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsui & Co, Sumitomo Corp,
Y Nishida & Co, Art Nishimura, etc.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Gotanda)
Mizuho Bank (Roppongi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/08/2007 |
31/08/2006 |
31/08/2005 |
31/08/2004 |
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Annual Sales |
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11,000 |
10,898 |
11,667 |
11,914 |
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Recur. Profit |
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260 |
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Net Profit |
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55 |
465 |
33 |
99 |
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Total Assets |
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9,663 |
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Current Assets |
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6,080 |
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Current Liabs |
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3,617 |
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Net Worth |
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5,026 |
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Capital, Paid-Up |
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90 |
90 |
90 |
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Div.P.Share(¥) |
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12.00 |
12.00 |
25.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.94 |
-6.59 |
-2.07 |
0.61 |
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Current Ratio |
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168.10 |
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.. |
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N.Worth Ratio |
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52.01 |
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.. |
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R.Profit/Sales |
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2.39 |
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.. |
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N.Profit/Sales |
0.50 |
4.27 |
0.28 |
0.83 |
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Return On Equity |
.. |
9.25 |
.. |
.. |
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Notes: Forecast (or estimated) for the 31/08/2007 fiscal
term.
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)