MIRA INFORM REPORT
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Report Date : |
24.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SEIYU PROCUREMENT LTD |
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Registered Office : |
Seiyu Akabane Honkan 5F, 2-1-1 Akabane
Kitaku Tokyo 115-0045 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
November 2005 |
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Com. Reg. No.: |
(Tokyo-Kitaku) 011430 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of supermarket commodities |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 474.3 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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Litigation : |
---- |
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 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
Company
name
SEIYU PROCUREMENT LTD
REGD NAME
KK Seiyu
Procurement
MAIN OFFICE
Seiyu Akabane Honkan
5F, 2-1-1 Akabane Kitaku Tokyo 115-0045 JAPAN
Tel:
03-3598-2119 Fax: 03-3598-2126
URL: http://www.seiyu.co.jp (of the
parent, Seiyu GK)
E-Mail address: (thru the URL)
ACTIVITIES
Import, wholesale of supermarket commodities
BRANCHES
Nil
OFFICERS
HIROSHI
WATAYA, PRES
Kokichi
Komatsu, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 32,500 M
PAYMENTS REGULAR CAPITAL Yen 400 M
TREND SLOW WORTH Yen
1,782 M
STARTED 2005 EMPLOYES 7-10
COMMENT
TRADING FIRM SPECIALIZING IN SUPERMARKETS COMMODITIES.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 474.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of procurement division
separated from Seiyu GK, supermarket chain operator, at the caption address
(See REGISTRATION). This is a trading firm, procurement division
of Seiyu GK, for importing and wholesaling foodstuffs, clothing, household
utensils, general merchandise, others for exclusive supply to the parent.
FINANCIAL INFORMATION:
The firm does not disclose sales figures and the following figures have been
estimated by outside sources.
The sales volume for Dec/2010 fiscal term amounted to Yen 32,500
million, a 4% down from Yen 35,960 million in the previous term, as affected by
the global economic downturn. Consumer
spending was sluggish. The net profit
was posted at Yen 175 million, compared with Yen 100 million a year ago.
For the current term ending Dec 2011 the net profit is projected at Yen
180 million, on a 7% rise in turnover, to Yen 40,000 million.
The financial situation is considered RATHER WEAK but should be good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 474.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 2005
Regd No.: (Tokyo-Kitaku) 011430
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
32,000 shares
Issued: 8,000 shares
Sum: Yen 400 million
Major shareholders (%): Seiyu GK* (100)
*.. Supermarket chain
operator, at the caption address, owned by Wal-Mart Japan Holdings, operating
370 chain stores nationwide, founded Apr 1963, capital Yen 100 million, sales
Yen 794,000 million, net profit Yen 190,000 million, employees 4,102, pres
Steve Dacus
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities:
Imports and wholesales foodstuffs, apparel & accessories, household
utensils, living fashion, daily necessities, general merchandise, others
(--100%).
Goods are wholly supplied to the parent, Seiyu GK.
Clients:
[Supermarket] Seiyu GK (100%)
No. of
accounts: 1 (370 chain stores)
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Suntory foods, Nichirei Foods, Nippon Milk Community, Asahi
Shokuhin Kogyo, Yonekyu Co, Ito En Ltd, Toho Lamac Co, other
Payment
record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned by the parent, Seiyu GK, and maintained
satisfactorily.
Bank References:
Mizuho
Bank (Ikebukuro)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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40,000 |
37,400 |
34,000 |
35,960 |
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Recur.
Profit |
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40,000 |
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Net
Profit |
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180 |
175 |
100 |
169 |
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Total
Assets |
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8,766 |
8,605 |
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Current
Assets |
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8,739 |
8,576 |
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Current
Liabs |
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6,984 |
6,998 |
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Net
Worth |
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1,782 |
1,606 |
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Capital,
Paid-Up |
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400 |
400 |
400 |
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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 |
6.95 |
10.00 |
-5.45 |
-2.55 |
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Current Ratio |
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.. |
125.13 |
122.55 |
.. |
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N.Worth Ratio |
.. |
20.33 |
18.66 |
.. |
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R.Profit/Sales |
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.. |
106.95 |
.. |
.. |
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N.Profit/Sales |
0.45 |
0.47 |
0.29 |
0.47 |
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Return On Equity |
.. |
9.82 |
6.23 |
.. |
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Notes:
The 31/12/2009 & the 31/12/2010 figures are estimated only.
Forecast
(or estimated) figures for the 31/12/2011 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.93 |
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UK Pound |
1 |
Rs.72.09 |
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Euro |
1 |
Rs.64.21 |
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.