MIRA
INFORM REPORT
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Report Date : |
28.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
PROCTER & GAMBLE JAPAN KK |
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Registered Office : |
1-17 Koyochonaka Higashinadaku Kobe 658-0032 |
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Country : |
Japan |
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Financials (as on) : |
30/06/2007 |
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Date of Incorporation : |
Mar 2006 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, manufacturing, wholesale of
toiletries, cosmetics. |
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 : |
1,251.0 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
PROCTER & GAMBLE JAPAN KK
REGD NAME
Procter & Gamble Japan KK
MAIN OFFICE
1-17 Koyochonaka Higashinadaku Kobe 658-0032 JAPAN
Tel: 078-845-5000
Fax: 078-845-6940
E-Mail address: info@jp.pg.com
ACTIVITIES
Import, mfg, wholesale of toiletries, cosmetics, other
BRANCHES
Tokyo, Osaka, Sendai, Nagoya, Fukuoka
FACTORY(IES)
Takasaki, Shiga, Akashi, Ibaraki
Kobe (Technical Center)
OFFICER(S)
RAVI CHATURVEDI, PRES
Yen Amount
In million Yen, unless otherwise stated
THE FIRM DOES NOT DISCLOSE ANY
OF ITS FINANCIALS AND THE FIGURES HERE REPRESENT THOSE OF P&G KK, MFG
DIVISION OF P&G GROUP.
SUMMARY
FINANCES FAIR A/SALES Yen 24,616 M
PAYMENTS REGULAR CAPITAL Yen 11,520 M
TREND SLOW WORTH Yen 30,987 M
STARTED 2000 EMPLOYES 300
COMMENT
IMPORTER OF TOILETRIES, COSMETICS, WHOLLY OWNED BY GELETTE GROUP HOLDINGS BV, EUROPE (GROUP OF PROCTER & GAMBLE CO, USA). FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
UNABLE TO BE ASSESSED DUE TO THE
ABSENCE OF FINANCIALS. CREDIT LIMIT OF
P&G KK IS ESTIMATED AT: 1,251.0 MILLION, 30 DAYS NORMAL TERMS.
FOR THE SUBJECT FIRM, WE
RECOMMEND SECURED TERMS ON NEW
TRANSACTIONS SIMPLY BECAUSE OF NON-AVAILABILITY OF FINANCIALS.
HIGHLIGHTS
The subject company was established as a trading house by Procter & Gamble Co, USA. This is a trading firm with mfg division for import and wholesale of toiletries, cosmetics, other, the products of US parent. Mfg is wholly done by P&G KK (Financials are attached, See REGISTRATION). The group consists of 6 firms: Procter & Gamble Japan KK; P&G Max Factor JV; P&G Northeast Asia Pte Ltd; P&G KK; Wella Japan KK; Iams Japan KK.
All the four, except Well Japan KK and Iams Japan KK are located at the caption address, and all operations are seen to be integrated including staff members.
FINANCIAL INFORMATION
Financials are not disclosed. See financials of P&G KK as attached.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max credit limit cannot be assessed due to the
absence of financials. The proposed
amount, therefore, is not to
be determined. It may be somewhat
awkward for the globally well-established firm, but we recommend secured terms
on new transactions simply because of the non-availability of the financials.
REGISTRATION
Date Registered: Mar
2006
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 226,000
shares
Issued: 226,000
shares
Sum: Yen
11,300 million
Major shareholders (%)
Gillette Group Holdings BV,
Europe (under Procter & Gamble Co, USA) (100)
* P&G KK, mfr of toiletries, cosmetics, other, founded 2000,
capital Yen 11,520 million, turnover Yen 24,616 million, recurring profit Yen
2,142 million, net profit Yen 1,274 million, total assets Yen 36,122 million,
net worth Yen 30,987 million, pres Hatsunori Kiriyama
Nothing detrimental is known as to ^the commercial morality
of executives.
OPERATION
Activities: Trading house with
mfg division specializing in import and wholesale of toiletries, cosmetics,
hair-care goods, others (--100%).
Clients
[Mfrs, wholesalers] P&G Max
Factor, P&G KK, other.
No. of accounts
1,000
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Supplied
from the USA parent and group firms.
Payment record
Regular
Location
Business
area in Kobe. Office premises at the
caption address are owned by the group and maintained satisfactorily.
Bank References
Citi Bank (Osaka)
MUFG (Osaka-Chuo)
Relations: Satisfactory
FINANCES: (In Million Yen) of
P&G KK
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Terms Ending: |
30/06/2008 |
30/06/2007 |
30/06/2006 |
30/06/2005 |
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Annual
Sales |
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25,000 |
24,616 |
25,532 |
26,145 |
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Recur.
Profit |
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2,142 |
2,374 |
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Net
Profit |
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1,300 |
1,274 |
1,388 |
1,336 |
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Total
Assets |
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36,122 |
25,532 |
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Current
Assets |
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22,202 |
19,396 |
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Current
Liabs |
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5,135 |
5,345 |
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Net
Worth |
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30,987 |
29,707 |
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Capital,
Paid-Up |
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11,520 |
11,520 |
11,520 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.56 |
-3.59 |
-2.34 |
6.03 |
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Current Ratio |
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.. |
432.37 |
362.88 |
.. |
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N.Worth Ratio |
.. |
85.78 |
116.35 |
.. |
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R.Profit/Sales |
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.. |
8.70 |
9.30 |
.. |
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N.Profit/Sales |
5.20 |
5.18 |
5.44 |
5.11 |
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Return On Equity |
.. |
4.11 |
4.67 |
.. |
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Notes: Forecast (or estimated) figures for the 30/06/2008
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%)