MIRA INFORM REPORT

 

 

Report Date :           

15.11.2011

 

IDENTIFICATION DETAILS

 

Name :

DAISO INDUSTRIES CO LTD

 

 

Registered Office :

1-4-14 Saijo-Yoshiyukihigashi Higashi-Hiroshima Hiroshima-Pref 739-0008

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

December 1977

 

 

Com. Reg. No.:

(Hiroshima-Higashi-Hiroshima) 022681  

 

 

Legal Form :

Limited Company

 

 

Line of Business :

“100 Yen” shop operator

 

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

 

Maximum Credit Limit :

Yen 5,985.0 Million

Status :

Satisfactory

Payment Behaviour :

Usually Correct 

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

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

DAISO INDUSTRIES CO LTD

 

 

REGD NAME

 

KK Daiso Sangyo

 

 

MAIN OFFICE

 

1-4-14 Saijo-Yoshiyukihigashi Higashi-Hiroshima Hiroshima-Pref 739-0008, JAPAN

Tel: 082-420-0100     Fax: 082-420-0135

    

URL:                             http://www.daiso-sangyo.co.jp/

E-Mail address:                        info@daiso-sangyo.co.jp

 

 

ACTIVITIES

 

“100 Yen” shop operator

 

 

BRANCH (ES)

 

Sapporo, Chiba, Nagoya, Higashi-Osaka, Fukuoka

 

 

SHOP(S)

 

2,570 domestic;

 

 

OVERSEAS

 

564 overseas in 25 countries: Taiwan, Korea, Singapore, Thailand, Canada, Kuwait, Qatar, Indonesia, Bahrain, Macao, USA, New Caledonia, Oman, New  Zealand, Romania, Mauritius, Saudi Arabia, Vietnam, Malaysia, Lebanon, Jordan, Philippines, Australia, other (established in this order)

 

FACTORIES  

 

(subcontracted)

 

 

OFFICER(S)  

 

HIROTAKE YANO, PRES                                  

Masashi Ishikawa, s/mgn dir

Gunji Kihara, s/mgn dir                                      

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 340,000 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 2,700 M

TREND             SLOW                          WORTH            Yen 101,388 M

STARTED                     1977                             EMPLOYES      400

 

 

COMMENT

 

“100 YEN SHOP” CHAINS OPERATOR. 

 

FINANCIAL SITUATION CONSIDERED FAIR TO EXCELLENT AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 5,985.0 MILLION, 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS

 

The subject company was established originally in 1972 as Yano-Shoten Ltd for selling household items and was incorporated in 1977, as Daiso Sangyo Inc.  In 1987, launched “Daiso 100 Yen Shop” operation.  Today operates 2,570 shops domestically from Hokkaido to Okinawa and 564 stores overseas in 25 countries.  Handling a wide range of goods from household goods of about 90,000 items (80% originally developed) to hobby materials, stationery and school & office supplies.  Goods are subcontracted mfg to both domestic and overseas makers.  This is the top-ranked firm among 363 firms, enjoying 60% of the domestic market share in this line of business.  Goods are also wholesaled to supermarkets, chain stores, and specialty stores, nationwide.  Opened the first overseas store in Taiwan in Aug 2001, followed by Korea, Singapore, Thailand, China, other. 

 

 

FINANCIAL INFORMATION

 

The firm stopped releasing full financials from the last reporting at the 31/03/2002 fiscal term.  Henceforth, the financials have been only partially disclosed. 

 

The sales volume for Mar/2011 fiscal term amounted to Yen 340,000 million, a shade down from Yen 341,400 million in the previous term.  The net profit is reported posted at Yen 14,000 million, compared with Yen 14,160 million a year ago.  The firm does not disclose precisely the profits.

 

For the current term ending Mar 2012 the net profit is projected at Yen 14,100 million, on a 1% rise in turnover, to Yen 342,000 million.  New store opened in Melbourne will contribute. Business is seen steadily operated.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 5,985.0 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Dec 1977

Regd No.:         (Hiroshima-Higashi-Hiroshima) 022681

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         7.2 million shares

Issued:                5.4 million shares

Sum:                   Yen 2,700 million

Major shareholders (%): Hirotake Yano, Yano Shoji KK, and families (--100)

No. of shareholders: 7

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: “Daiso 100 Yen Plaza” shop chain operator: 2,570 stores domestically and 564 overseas in 25 countries, including franchisees (--100%). 

 

Handles over 90,000 items (80% originally developed items and brands): kitchen ware, cosmetics, toiletries, tableware, laundry supplies, stationery, garden supplies, household chemicals, electric supplies, foods, spices, bathroom supplies, others.  Goods are also imported from subcontracted mfrs in China, Taiwan, Singapore, other S/E Asian countries centrally.  Goods are wholesaled to supermarkets, chain stores, other, too.

 

(Overseas stores): Singapore, Canada, Korea, Taiwan, Thailand, Indonesia, UAE, Kuwait, Qatar, Bahrain, Macao, USA, Oman, China, New Caledonia, Canada, New Zealand, Romania, Mauritius, Saudi Arabia, Vietnam, Malaysia, Lebanon, Jordan, Philippines, and Australia.

 

Clients: [Consumers, franchisees, chain stores, supermarkets] Aeon Co, Izumiya, Tokyu Store, Seiyu Ltd, Izumi, Marui, Heiwado, Tenmaya, Uny, Ito-Yokado, other.

            No. of accounts: 1,000 (Wholesale div only)

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Supplied from both domestic and overseas mfrs, subcontracted makers, other. 

Imports from China, Taiwan, Hong Kong, Singapore, Thailand, Vietnam, Indonesia, and other S/E Asian countries.

 

Payment record: Regular

 

Location: Business area in Higashi-Hiroshima City.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

·         Mizuho Bank (Hiroshima)

·         SMBC (Hiroshima)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

342,000

340,000

341,400

341,200

Recur. Profit

　

　

　

　

　

Net Profit

　

14,100

14,000

14,160

14,150

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

101,388

91,588

81,596

Capital, Paid-Up

　

　

2,700

2,700

2,700

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

0.59

-0.41

0.06

0.95

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

4.12

4.12

4.15

4.15

 

Notes: The firm stopped releasing full financials with the last reporting at the 31/03/2002 fiscal term. Henceforth, only partial figures have been disclosed.

Forecast (or estimated) figures for the 31/03/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.85

UK Pound

1

Rs.80.36

Euro

1

Rs.68.83

 

 

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

Capability to overcome financial difficulties seems comparatively below average.

 

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

----

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.