MIRA INFORM REPORT
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Report Date : |
24.05.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
SUNTORY HOLDINGS LIMITED |
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Registered Office : |
2-1-40 Dojimahama Kitaku Osaka 530-8203 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
February 2009 |
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Com. Reg. No.: |
(Osaka-Kitaku) 136159 |
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Legal Form : |
Limited Company |
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Line of Business : |
Holding company of 173 group firms, of which 161 as
consolidated subs |
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 20,777.0 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
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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
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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
SUNTORY HOLDINGS LIMITED
REGD NAME
Suntory Holdings
KK
MAIN OFFICE
2-1-40 Dojimahama
Kitaku Osaka 530-8203 JAPAN
Tel: 06-6346-1131
URL: http://www.suntory.co.jp/
E-Mail address: (thru
the URL)
ACTIVITIES
Holding
company of 173 group firms, of which 161 as consolidated subs
BRANCHES
Sapporo,
Sendai, Aomori, Akita, Fukushima, Saitama, other (Tot 32)
OVERSEAS
USA (3), Europe (11), China (10),
Hong Kong, Taiwan (2), Korea, Singapore, Thailand, Australia (2)
(--subsidiaries)
FACTORIES
Yamanashi,
Osaka, Shiga, Tokyo, Kyoto, Gunma, Hyogo, other (Tot 14)
OFFICERS
NOBUTADA
SAJI, PRES Shingo
Torii, v pres
Akinobu
Kodaira, v pres Shigehiro
Aoyama, v pres
Tomohisa
Sakai, s/mgn dir Shun’ichi Naito,
s/mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,742,373 M
PAYMENTS REGULAR CAPITAL Yen 70,000 M
TREND STEADY WORTH Yen 446,978 M
STARTED 2009 EMPLOYES 25,854
COMMENT
HOLDING COMPANY OF 173 GROUP FIRMS IN LINES OF MFG OF WHISKY, BEER, SOFT DRINKS, HEALTH FOODS, OTHER.
FINANCIAL SITUATION COSIDERED FAIR TO EXCELLENT AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT
LIMIT: YEN 20,777.0 MILLION, 30 DAYS NORMAL TERMS
Forecast (or estimated) figures for 31/12/2011 fiscal term
HIGHLIGHTS
The subject company was established originally in 1899 by Shinjiro Torii
for mfg Japanese wines, on his account.
Incorporated in 1921 the firm has been succeeded by his
descendants. Specialized mfr of whisky
in the main, beer, soft drinks, mineral water, other. In 1931, exported whisky for the first time
to overseas. The firm has three
intra-company systems: Beverage & Food Company, Spirits, Wine & Beer
Company and Food Service & Business Development Company, each representing
a separate business unit (See OPERATION
for details). In Europe, operates the
Bowmore Distillery (Scotland), and Chateau Lagrange (Bordeaux region of
France). The firm switched to a pure
holding company structure on April 2009.
Under the new structure, there are soft drink, health food, alcoholic
beverage and wine operating companies, and beverage manufacturing company,
liquor sales company and business support company, totaling 182 firms, all
under the holding company. The planned
business tie-ups with Kirin Breweries (Kirin Holdings Inc) is reported fell
apart.
FINANCIAL INFORMATION
The sales volume for Dec/2010 fiscal term amounted to Yen 1,742,373
million, a 12.4% up from Yen 1,550,719 million in the previous term. Both sales & net profits soared helped by
the sales of beer, non-alcoholic beer, whisky, other. Also newly acquired consolidated subsidiaries
contributed to the sales growth. By
Divisions, Foods up 20.8% to Yen 1,040,000 million; Beer/Whisky Div up 3.3% to
Yen 576,000 million. The recurring
profit was posted at Yen 100,839 million and net profit at Yen 40,027 million,
respectively, compared with Yen 81,822 million recurring profit and Yen 32,666
million net profit, respectively, a year ago.
For the current term ending Dec 2011 the recurring profit is projected
at Yen 110,000 million and the net profit at Yen 48,000 million, respectively,
on a 3.7% rise in turnover, to Yen 1,806,000 million. The figures were projected before the North
Japan Earthquake that occurred on Mar 11, and that the figures may be revised
downward. The firm does not yet announce
the revised figures.
The financial situation is considered FAIR to EXCELLENT and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 20,777.0 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Feb 2009
Regd No.: (Osaka-Kitaku)
136159
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,305.6 million shares
Issued:
687,136,196 shares
Sum: Yen 70,000
million
Major shareholders (%): Kotobuki Fudosan (89.3), Employees’ S/Holding Assn (4.4), MUFG (1.0), SMBC (1.0), Mitsui Trust Bank (1.0), Nippon Life Ins (1.0)
No. of shareholders: 53
Nothing detrimental is known as to the commercial morality of executives.
Related companies: Suntory Foods, Dynac Corp, Haagen-Dazs Japan Inc, Suntory Allied, Monte Bussan, Tipness Ltd, other.
OPERATION
Activities: Holding company of 173 group firms in the line of mfg, brewery, processing liquor, wine, beer, whisky, soft drinks, health foods, mineral water, other; offering formulation & promotion of groupwide management strategies & corporate functions:
(Sales breakdown by
Intra-Companies):
Beverage & Food Company (60%): beverage, health foods, health beverage,
Haagen-Dazs, other;
Spirits, Wine & Beer Company (32%): beer, happoshu (and new category beer),
cocktails, whisky, liqueurs & spirits, shochu, wine, other
Food Service & Business Development Company (8%): restaurant management, consulting, flowers, fitness club, others;
Overseas Sales Ratio (20.3%): Asia/Oceania 8.4%, Europe 7.8%, USA 4.1%
Clients: [Mfrs, wholesalers] Mitsui & Co, Kokubu Ltd, Ryoshoku Liquor, Itochu Foods, Mitsui Foods, Asahi Foods, Kyushu Ryoshoku Liquor, Ismic Co, Nihon Shurui Hambai, Meidi-Ya Shoji, other (all of group firms)
No. of accounts: 1,000 – 2,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Toyo Seikan, Rengo Co, Daiwa Can, Yoshino Kogyosho, Universal Can Corp, other. (all of group firms)
Payment
record: Regular
Location: Business area in Osaka. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References:
MUFG
(Osaka)
SMBC
(Osaka)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/12/2010 |
31/12/2009 |
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INCOME STATEMENT |
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Annual Sales |
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1,742,373 |
1,550,719 |
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Cost of Sales |
874,794 |
807,418 |
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GROSS PROFIT |
867,579 |
743,301 |
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Selling & Adm Costs |
760,851 |
659,757 |
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OPERATING PROFIT |
106,727 |
83,544 |
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Non-Operating P/L |
-5,888 |
-1,722 |
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RECURRING PROFIT |
100,839 |
81,822 |
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NET PROFIT |
40,027 |
32,666 |
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BALANCE SHEET |
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Cash |
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133,822 |
142,725 |
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Receivables |
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240,015 |
220,614 |
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Inventory |
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157,587 |
161,740 |
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Securities, Marketable |
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Other Current Assets |
86,368 |
60,502 |
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TOTAL CURRENT ASSETS |
617,792 |
585,581 |
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Property & Equipment |
379,225 |
388,708 |
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Intangibles |
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384,288 |
456,399 |
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Investments, Other Fixed Assets |
186,991 |
197,592 |
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TOTAL ASSETS |
1,568,296 |
1,628,280 |
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Payables |
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82,418 |
127,444 |
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Short-Term Bank Loans |
101,907 |
101,464 |
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Other Current Liabs |
354,612 |
325,842 |
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TOTAL CURRENT LIABS |
538,937 |
554,750 |
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Debentures |
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209,750 |
178,327 |
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Long-Term Bank Loans |
262,679 |
326,572 |
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Reserve for Retirement Allw |
10,469 |
10,192 |
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Other Debts |
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99,482 |
102,800 |
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TOTAL LIABILITIES |
1,121,317 |
1,172,641 |
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MINORITY INTERESTS |
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Common
stock |
70,000 |
70,000 |
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Additional
paid-in capital |
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Retained
earnings |
392,936 |
357,718 |
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Evaluation
p/l on investments/securities |
10,158 |
11,368 |
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Others |
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(26,116) |
16,552 |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
446,978 |
455,638 |
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TOTAL EQUITIES |
1,568,296 |
1,628,280 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/12/2010 |
31/12/2009 |
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Cash Flows
from Operating Activities |
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139,449 |
102,738 |
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Cash
Flows from Investment Activities |
-28,200 |
-388,903 |
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Cash
Flows from Financing Activities |
-60,661 |
243,629 |
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Cash,
Bank Deposits at the Term End |
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159,044 |
112,656 |
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ANALYTICAL RATIOS Terms ending: |
31/12/2010 |
31/12/2009 |
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Net
Worth (S/Holders' Equity) |
446,978 |
455,638 |
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Current
Ratio (%) |
114.63 |
105.56 |
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Net
Worth Ratio (%) |
28.50 |
27.98 |
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Recurring
Profit Ratio (%) |
5.79 |
5.28 |
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Net
Profit Ratio (%) |
2.30 |
2.11 |
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Return
On Equity (%) |
8.96 |
7.17 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.28 |
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UK Pound |
1 |
Rs.73.30 |
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Euro |
1 |
Rs.63.61 |
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.