MIRA INFORM REPORT
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Report Date : |
07.11.2011 |
IDENTIFICATION DETAILS
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Name : |
JUPITER SHOP CHANNEL CO LTD |
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Registered Office : |
Kokkan Bldg, 1-14-1 Shinkawa Chuoku Tokyo
154-0033 |
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Country : |
japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
November 1996 |
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Com. Reg. No.: |
(Tokyo-Chuoku) 065291 |
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Legal Form : |
Limited Company |
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Line of Business : |
TV shop channel operator, mail-order house, catalogue sales (non-store
Operator) |
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 3,886.9 Million |
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Status : |
Satisfactory |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
JUPITER SHOP CHANNEL CO LTD
REGD NAME
Jupiter Shop
Channel KK
MAIN OFFICE
Kokkan Bldg,
1-14-1 Shinkawa Chuoku Tokyo 154-0033 JAPAN
Tel:
03-5641-3868 Fax: 03-5641-3797
URL: http://www.sumisho-otto.com/
E-Mail address: Not specified
ACTIVITIES
TV shop channel operator, mail-order house, catalogue sales (non-store Operator)
BRANCHES
Nil
OFFICER(S)
ATSUSHI SHINOHARA,
PRES Takeyuki Niimori, dir
Keiji Tanaka, dir Daisuke Mikogami, dir
Toshifumi Shibuya, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1111,503 M
PAYMENTS REGULAR CAPITAL Yen
440 M
TREND STEADY WORTH Yen
22,230 M
STARTED 1996 EMPLOYES 888
COMMENT
TV SHOP CHANNEL
OPERATOR, OWNED BY SUMITOMO CORPORATION.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 3,886.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established as a joint venture company by Otto
Versand GmbH & Co, Germany and Sumitomo Corp, Japan’s leading general
trading house, Tokyo, as Otto-Sumisho Inc, for advancing into non-store mail
order & catalog sales business. In
Dec 2007, the German partner acquired its whole share in the JV and made it an
independent company, Otto Japan Inc. The
firm then became a wholly owned consolidated subsidiary of Sumitomo
Corporation, and renamed as captioned.
This is a top-ranked TV shop channel operator. Handling items are wide and varies (See
OPERATION). Over 27 million households
are accessible to the channel.
FINANCIAL INFORMATION
The sales amount for Mar/2011 fiscal term amounted to Yen 111,503
million, a 2% up from Yen 109,025 million in the previous term. TV shoppers increased due to
conveniences. The recurring profit was
posted at Yen 15,722 million and the net profit at Yen 9,167 million, respectively,
compared with Yen 15,390 million recurring profit and Yen 9,311 million net
profit, respectively, a year ago.
For the current term ending Mar 2012 the recurring profit is projected
at Yen 16,000 million and the net profit at Yen 9,400 million, respectively, on
a 3% rise in turnover, to Yen 115,000 million.
Business is steadily expanding.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 3,886.9 million, on 30 days normal terms.
REGISTRATION
Date Registered:
Nov 1996
Regd No.:
(Tokyo-Chuoku) 065291
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 140,800 shares
Issued: 35,200 shares
Sum: Yen 440 million
Major shareholders (%): Sumitomo Corp*
(99), Sumisho Information System (1)
No. of shareholders: 2
*.. One of leading trading houses, Tokyo, founded 1919, listed Tokyo,
Osaka, Nagoya, Fukuoka S/E’s, capital Yen 219,279 million, sales Yen 8,350,352
million, operating profit Yen 199,636 million, recurring profit Yen 293,563
million, net profit Yen 202,732 million, total assets Yen 7,230,502 million net
worth Yen 1,682,090 million, employees 74,251, pres Susumu Kato
Consolidated Financials are attached.
Nothing detrimental is knows as to the commercial morality of
executives.
OPERATION
Activities: Digital CATV shop
channel operator, direct shopping, catalog sales (--100%)
(Handing Items): jewelry, apparel,
fashion, cosmetics, beauty care, diet, fitness, home interiors, home electric
appliances, gourmet, liquor, flower, travel, other
Clients: Consumers
No. of accounts: over
27 million households
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sumitomo Corp, JSAT Corp,, Eddie Bauer Japan, Cable TV, Sumisho
Global Logistics, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC (Tokyo)
Mizuho Bank
(Shinjuku-Shintoshin)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms
Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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115,000 |
111,503 |
109,025 |
131,676 |
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Recur.
Profit |
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16,000 |
15,722 |
15,390 |
19,967 |
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Net
Profit |
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9,400 |
9,167 |
9,311 |
11,423 |
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Total
Assets |
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37,404 |
31,423 |
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Current
Assets |
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26,960 |
22,899 |
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Current
Liabs |
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13,868 |
15,802 |
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Net
Worth |
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22,230 |
14,929 |
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Capital,
Paid-Up |
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|
440 |
440 |
440 |
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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 |
3.14 |
2.27 |
-17.20 |
28.71 |
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Current Ratio |
|
.. |
194.40 |
144.91 |
.. |
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N.Worth Ratio |
.. |
59.43 |
47.51 |
.. |
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R.Profit/Sales |
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13.91 |
14.10 |
14.12 |
15.16 |
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N.Profit/Sales |
8.17 |
8.22 |
8.54 |
8.68 |
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Return On Equity |
.. |
41.24 |
62.37 |
.. |
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Notes: Forecast
(or estimated) figures for the 31/03/2012 fiscal term.
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF THE PARENT, SUMITOMO
CORPORATION
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2011 |
31/03/2010 |
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INCOME STATEMENT |
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Annual Sales |
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8,350,352 |
7,757,382 |
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Cost of Sales |
7,486,358 |
6,982,252 |
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GROSS PROFIT |
863,994 |
775,090 |
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Selling & Adm Costs |
678,509 |
649,721 |
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OPERATING PROFIT |
183,485 |
125,369 |
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Non-Operating P/L |
96,978 |
76,799 |
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RECURRING PROFIT |
280,463 |
221,968 |
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NET PROFIT |
209,792 |
169,366 |
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BALANCE SHEET |
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Cash |
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704,313 |
814,288 |
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Receivables |
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1,511,442 |
1,512,678 |
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Inventory |
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670,220 |
698,810 |
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Securities, Marketable |
5,259 |
5,239 |
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Other Current Assets |
598,072 |
504,210 |
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TOTAL CURRENT ASSETS |
3,489,306 |
3,535,225 |
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Property & Equipment |
813,435 |
838,272 |
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Intangibles |
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348,993 |
361,679 |
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Investments, Other Fixed Assets |
2,578,768 |
2,371,868 |
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TOTAL ASSETS |
7,230,502 |
7,107,044 |
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Payables |
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1,026,160 |
1,045,833 |
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Short-Term Bank Loans |
850,435 |
945,821 |
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Other Current Liabs |
466,481 |
480,873 |
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TOTAL CURRENT LIABS |
2,343,076 |
2,472,527 |
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Debentures |
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2,916,963 |
2,665,786 |
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Long-Term Bank Loans |
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Reserve for Retirement Allw |
18,811 |
20,062 |
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Other Debts |
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269,562 |
311,447 |
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TOTAL LIABILITIES |
5,548,412 |
5,469,822 |
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MINORITY INTERESTS |
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Common
stock |
219,279 |
219,279 |
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Additional
paid-in capital |
288,868 |
289,117 |
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Retained
earnings |
1,068,193 |
916,013 |
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Evaluation
p/l on investments/securities |
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Others |
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106,803 |
213,896 |
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Treasury
stock, at cost |
(1,053) |
(1,083) |
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TOTAL S/HOLDERS` EQUITY |
1,682,090 |
1,637,222 |
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TOTAL EQUITIES |
7,230,502 |
7,107,044 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2011 |
31/03/2010 |
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Cash
Flows from Operating Activities |
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219,502 |
503,829 |
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Cash
Flows from Investment Activities |
-469,378 |
-51,566 |
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Cash
Flows from Financing Activities |
155,879 |
-151,302 |
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Cash,
Bank Deposits at the Term End |
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704,313 |
814,288 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
1,682,090 |
1,637,222 |
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Current
Ratio (%) |
148.92 |
142.98 |
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Net
Worth Ratio (%) |
23.26 |
23.04 |
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Recurring
Profit Ratio (%) |
3.36 |
2.86 |
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Net
Profit Ratio (%) |
2.51 |
2.18 |
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Return
On Equity (%) |
12.47 |
10.34 |
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--------------------
End of Reports --------------------
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
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UK Pound |
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
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 |
---- |
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.