MIRA
INFORM REPORT
|
Report Date : |
07.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
JOHNSON & JOHNSON KOREA LTD. |
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Registered Office : |
19th Fl., |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
05/28/1983 |
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Legal Form : |
Company Limited by shares, Foreign Direct
Investment Corporations |
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Line of Business : |
Manufacture of Perfumes and Cosmetics |
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 |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
Basic
|
Company
Name |
JOHNSON & JOHNSON KOREA LTD. |
|
Registered Address |
191, Hangangno 2-ga, Yongsan-gu, |
|
Building |
19th Fl., |
|
Zip Code |
140-702 |
|
Tel |
+82-2-791-0114 |
|
Fax |
+82-2-796-5988 |
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E-mail |
hkim6@conkr.jnj.com |
|
Website |
www.jnj.com |
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Trading Address |
19th Fl., Kukje Center Bldg., 191,
Hangangno 2-ga, Yongsan-gu, |
|
Tel |
+82-2-791-0114 |
|
Fax |
+82-2-796-5988 |
|
Cheongju Factory |
140-20, Songjeong-dong, Heungdeok-gu,
Cheongju-si, |
|
Tel |
+82-43-279-5603 |
|
Fax |
+82-43-262-7631 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Perfumes and Cosmetics |
|
Main
Business |
Medicine, Cosmetics, Baby Oil, Lotion, Cream, Soap |
|
Sub
Business |
Wholesale of Cosmetics |
|
Established (mm/dd/yyyy) |
05/28/1983 |
The Subject owns the premises of the Cheongju Factory (26,126㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Hand or body lotions(53131607) |
|
Sell |
|
|
Sell |
Paper towels(14111703) |
|
Sell |
Applicator swabs and cotton balls(42141500) |
|
Sell |
Hand or body lotions(53131607) |
|
Sell |
Skin care products(53131613) |
|
Sell |
Infant soother or pacifier or dummy(53131505) |
|
Sell |
Paper towels(14111703) |
|
Sell |
Shampoos(53131628) |
|
Sell |
Skin care products(53131613) |
|
Sell |
Hand or body lotions(53131607) |
|
Sell |
Hair care supplies(53131602) |
|
Sell |
Cosmetics(53131619) |
|
Sell |
Feeding bottles or accessories(52152105) |
|
Sell |
Toothbrushes(53131503) |
|
Sell |
Bandages or dressings for general use(42311505) |
|
Sell |
Soaps(53131608) |
|
Sell |
Perfumes or colognes or fragrances(53131620) |
|
Sell |
Rattles(60141024) |
|
Sell |
Toothbrushes(53131503) |
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Sell |
Foot care products(53131614) |
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Sell |
|
|
Sell |
Feminine hygiene products(53131615) |
|
Sell |
Infant soother or pacifier or dummy(53131505) |
|
Sell |
Shower caps(53131601) |
CEO’s
|
Name |
Choi Seung-Han |
|
Address |
449, Apgujeong-dong, Gangnam-gu, |
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Date of Birth |
08/19/1962 |
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Title |
President & CEO |
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Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital |
7,516,000,000 KRW |
|
Employees |
272 |
|
Formation |
Co., Ltd by shares, Foreign Direct
Investment Corporations |
|
Bank Details |
S.C First Bank of Korea-Yongsan Branch |
|
Corporate Registered No. |
110111-0350639 |
|
Business Registered No. |
106-81-17147 |
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Permit & Licenses |
Int’l Trade No.: 847043 |
|
Shareholder Position |
Johnson & Johnson-USA. Has 100% shares. |
|
Company History |
11/01/1982 DONGA PHARMACEUTICAL CO., LTD.
agreed to establish a JV with Johnson & Johnson-USA. 05/28/1983 Established as the present name 1995~1999 DONGA PHARMACEUTICAL CO., LTD.
sold its shares to Johnson & Johnson-USA. 06/29/1999 Increased capital to
7,516,000,000 KRW from 8,064,000,000 KRW 12/21/2006 Acquired CHC(Consumer
HealthCare) Business Division from Pfizer Pharmaceutical Korea Ltd. |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Choi Seung-Han |
Male |
Korean |
06/01/2003 |
|
Director |
Mr. |
Patrick Douglas Muchler |
Male |
|
03/14/2002 |
|
Director |
Mr. |
Willivan Bugen Haut |
Male |
|
06/10/2002 |
|
Director |
Mr. |
Park Se-Yol |
Male |
Korean |
09/22/2003 |
|
Director |
Mr. |
Jesigen Weiu |
Male |
|
03/31/2007 |
|
Director |
Mr. |
Choi Tae-Hong |
Male |
Korean |
03/31/2007 |
|
Auditor |
Mr. |
Sengwatt Tan |
Male |
Malysian |
03/31/2007 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
2006 |
164,575,251,129 |
74,768,278,320 |
16,262,780,881 |
|
142,197,121,502 |
71,156,809,519 |
14,613,812,885 |
|
|
2004 |
120,064,866,930 |
61,225,220,620 |
10,683,772,767 |
Financial Description
Unit: KRW
|
Authorized Capital |
17,000,000,000 |
|
Paid-Up Capital |
7,516,000,000 |
|
Total Issues Shares |
1,503,200 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
|
Total Assets |
74,768,278,320 |
71,156,809,519 |
61,225,220,620 |
|
Current Assets |
56,398,280,747 |
59,373,127,533 |
49,190,424,101 |
|
-Quick Assets |
42,792,819,096 |
51,203,912,224 |
42,428,119,208 |
|
-Inventories |
13,605,461,651 |
8,169,215,309 |
6,762,304,893 |
|
Fixed Assets |
18,369,997,573 |
11,783,681,986 |
12,034,796,519 |
|
-Investment |
4,665,407,009 |
4,433,147,939 |
5,741,252,889 |
|
-Tangibles |
6,914,039,230 |
6,999,332,775 |
5,896,813,806 |
|
-Intangibles |
6,790,551,334 |
351,201,272 |
396,729,824 |
|
Total Liabilities |
41,304,019,191 |
37,015,040,706 |
30,954,630,903 |
|
Current Liabilities |
38,930,061,483 |
34,980,249,742 |
29,240,671,264 |
|
Fixed Liabilities |
2,373,957,708 |
2,034,790,964 |
1,713,959,639 |
|
Capital Stock |
7,516,000,000 |
7,516,000,000 |
7,516,000,000 |
|
Capital Surplus |
663,789,736 |
663,789,736 |
663,789,736 |
|
Profit Surplus |
25,496,338,108 |
26,662,057,227 |
24,147,369,342 |
|
Capital Adjustment |
(-)211,868,715 |
(-)700,078,150 |
(-)2,056,569,361 |
|
Total Equity |
33,464,259,129 |
34,141,768,813 |
30,270,589,717 |
|
Liab. & Shareholder’s Equity |
74,768,278,320 |
71,156,809,519 |
61,225,220,620 |
|
Current Liabilities |
38,930,061,483 |
34,980,249,742 |
29,240,671,264 |
|
Trade Payables |
2,434,647,294 |
2,013,150,219 |
1,579,591,702 |
|
Trade Payables-Affiliated Companies |
3,862,351,037 |
2,651,118,582 |
1,862,305,538 |
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Account Payables |
11,446,368,540 |
15,908,157,206 |
12,376,624,261 |
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Account Payables-Affiliated Companies |
4,071,306,046 |
305,711,375 |
246,758,660 |
|
Withholdings |
251,600,492 |
200,676,641 |
208,857,906 |
|
VAT Withholds |
2,008,839,492 |
1,203,052,683 |
990,239,420 |
|
Guarantee Deposit Withhold |
2,985,000,000 |
2,477,000,000 |
1,951,376,461 |
|
Accrued Expenses |
7,643,990,246 |
5,130,923,325 |
4,508,465,358 |
|
Accrued Income tax |
3,818,372,702 |
3,376,140,055 |
2,858,806,554 |
|
Advance Receipts |
29,181,495 |
642,755,021 |
- |
|
Others |
378,404,139 |
1,071,564,635 |
2,657,645,404 |
|
Fixed Liabilities |
2,373,957,708 |
2,034,790,964 |
1,713,959,639 |
|
Provision for Severance & Retirement |
2,373,957,708 |
2,034,790,964 |
1,713,959,639 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
|
Sales |
164,575,251,129 |
142,197,121,502 |
120,064,866,930 |
|
Cost of Sold Goods |
66,962,306,887 |
58,466,438,899 |
50,773,362,136 |
|
Gross Profit |
97,612,944,242 |
83,730,682,603 |
69,291,504,794 |
|
Selling & Admin. Expenses |
76,228,442,228 |
63,461,282,670 |
53,335,674,654 |
|
Operating Income |
21,384,502,014 |
20,269,399,933 |
15,955,830,140 |
|
Non-Operating Income |
5,205,965,992 |
3,919,322,319 |
2,259,089,262 |
|
Non-Operating expenses |
4,753,835,654 |
4,159,168,681 |
2,953,492,885 |
|
Ordinary Income |
21,836,632,352 |
20,029,553,571 |
15,261,426,517 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
21,836,632,352 |
20,029,553,571 |
15,261,426,517 |
|
Income Taxes Expenses |
5,573,851,471 |
5,415,740,686 |
4,577,653,750 |
|
Net Income |
16,262,780,881 |
14,613,812,885 |
10,683,772,767 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
|
Cash Flows from Operating |
18,916,185,059 |
17,477,432,104 |
15,876,917,853 |
|
-Net Income |
16,262,780,881 |
14,613,812,885 |
10,683,772,767 |
|
-Exp. without Cash Outflow |
4,931,197,015 |
4,409,160,670 |
3,382,815,654 |
|
-Revenue without Cash Inflows |
(-)727,755,473 |
(-)217,853,046 |
(-)134,661,209 |
|
-Changes in Asset/ & Liability |
(-)1,550,037,364 |
(-)1,327,688,405 |
1,944,990,641 |
|
Cash Flows from Investing |
(-)16,548,438,204 |
(-)2,739,414,291 |
(-)3,608,119,241 |
|
-Cash Inflow from Investing |
390,732,464 |
24,242,052 |
394,039,043 |
|
-Cash Outflows for Investing |
(-)16,939,170,668 |
(-)2,763,656,343 |
(-)4,002,158,284 |
|
Cash Flows from Financing |
(-)17,428,500,000 |
(-)12,099,125,000 |
(-)13,000,966 |
|
-Cash Inflows from Financing |
- |
- |
- |
|
-Cash Outflows from Financing |
(-)17,428,500,000 |
(-)12,099,125,000 |
(-)13,000,966 |
|
Increase/Decrease in Cash |
(-)15,060,753,145 |
2,638,892,813 |
12,255,797,646 |
|
Cash at the Beginning of Year |
25,184,535,612 |
22,545,642,799 |
10,289,845,153 |
|
Cash at the End of Year |
10,123,782,467 |
25,184,535,612 |
22,545,642,799 |
Products,
Technologies, Services
Description
|
Main Products & Services |
Consumer -Cosmetics, Sanitized products Vision Care -Contact Lenz CHC -Pharmaceutical products |
Related Parties
(Subsidiaries, Joint-
Venture &
Affiliates)
|
Affiliates |
Johnson & Johnson-USA J&J Japan J&J Taiwan J&J Vistakon |
|
Cooperative |
The Subject agreed on the license with Johnson & Johnson-USA for ten(10)
years since 01/2002. |
Sales by Region (Activity
& Markets)
|
Sales/ Unit : KRW |
2006 |
2005 |
2004 |
|
Consumer |
114,820,597 |
106,065,110 |
|
|
Vision Care |
49,754,654 |
37,132,012 |
|
|
CHC |
- |
- |
|
|
Total |
164,575,251 |
142,197,122 |
|
The Subject deals with the companies in
Court Action
No
News Clipping
JoongangIlbo & Joins.com : 08/13/1999
Korea IBM has been selected as the most popular foreign company by
college students.
Intern, an employment expert institute has recently surveyed 1,000
college students on the image they have of foreign companies, and Korea IBM
came top in five of the nine sectors, finishing first in total rankings.
IBM was best on overall image, company to enter, growth possibility,
wages and was the most trustworthy group.
Sony
Coca Cola Bottling was best on advertising while Korea Johnson &
Johnson came top in respecting women's rights.
On total average rankings, Korea Microsoft came second after Korea IBM,
followed by
About 45.1 percent of students said that they would gladly enter those
foreign companies if given the chance.
They also hoped for 15,000 dollars starting annual salary.
Bong Hwa-shik:trojans@joongang.co.kr
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%)