MIRA INFORM REPORT
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Report Date : |
29.11.2011 |
IDENTIFICATION DETAILS
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Name : |
HYPER MARKET OLYMPIC, KK |
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Registered Office : |
7-3-1 Bessho Saitama 336-0021 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2011 |
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Date of Incorporation : |
June 2006 |
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Com. Reg. No.: |
(Tokyoto-Kokubunji) 014736 |
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Legal Form : |
Limited Company |
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Line of Business : |
DIY Store Operator |
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No. of Employees
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604 Persons |
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 122.2 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
HYPER MARKET OLYMPIC, KK
REGD NAME
KK Hyper Market
Olympic
MAIN OFFICE
7-3-1 Bessho
Saitama 336-0021 JAPAN
Tel:
048-844-5811 Fax: 048-844-5818
*.. Registered at:
4-12-1 Honcho Kokubunji Tokyo-Metrop
URL: http://www.olympic.co.jp/group/hypermarket.html
E-Mail address: (thru the URL)
ACTIVITIES
DIY
store operator
STORES
49
stores centering in the greater-Tokyo region
OFFICERS
YOSHIKI
KANAZAWA, PRES Chaka Motegi, dir
Kazuo
Uchida, dir Akihito
Takahashi, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 12,262 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND STEADY WORTH Yen
284 M
STARTED 2006 EMPLOYES 604
COMMENT
DIY STORE OPERATOR, OWNED BY OLYMPIC CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 122.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Olympic Corp (See REGISTRATION) as DIY store operator. Yoshiki Kanazawa is concurrently pres at the parent. This is a DIY store & supermarket operator, operating 49 chain stores centering in the greater-Tokyo area. Handles non-food items, such as: DIY goods, gardening tools, apparel, pet supplies, bicycles, other. Goods are also imported.
FINANCIAL INFORMATION
Financial are consolidated by the parent, Olympic Corp, and disclosed in digested form only.
The sales volume for Feb/2011 fiscal term amounted to Yen 12,262 million, an 8% down from Yen 13,351 million in the previous term. Existing store sales sagged due to intensifying price competition. Consumer spending was sluggish, particularly in the first half of the term. The net profit was posted at Yen 132 million, compared with Yen 135 million a year ago.
For the current term ending Feb 2012 the net profit is projected at Yen 150 million, on a 22% rise in turnover, to Yen 150,000 million. In Apr 2011, the firm merged completely a sister company, Homepic KK, to make an integrated firm. The combined sales will grow.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 122.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 2006
Regd No.: (Tokyoto-Kokubunji) 014736
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
8,000 shares
Issued:
2,000 shares
Sum: Yen 100 million
Major shareholders (%): Olympic Corp* (100)
*.. Comprehensive retailer, handling wide range of products, Tokyo, and holding company of group firms, founded 1973, listed Tokyo S/E, capital Yen 9,946 million, sales Yen 102,590 million, operating profit Yen 906 million, recurring profit Yen 883 million, net profit Yen 169 million, total assets Yen 64,229 million, net worth Yen 27,960 million, employees 1,326, pres Yoshiki Kanazawa, concurrently
Consolidated Financials are attached (See SUPPLEMENTS)
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: DIY store & supermarkets operator, including online shop sales, handling a wide range of products (excluding foods): DIY goods & supplies, consumption goods, living wares, gardening tools & supplies, pet foods & supplies, apparel, shoes, bicycles, auto tires, home electronics, cosmetics, toiletries, other (--100%)
Clients: Consumers
No. of accounts: Unavailable
Domestic areas of activities: Centered in the greater-Tokyo
Suppliers: [Mfrs, wholesalers] IRIS Ohyama Co, Asahi Electric Co, Fujiwara Sangyo Co, JAPELL Co, Kao Customer Marketing, Chuo Bussan Co, Sharp Electronics Marketing, Echo Trading Co, other
Payment record: Regular
Location:
Business area in Saitama. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank
(Shinjuku-Nishiguchi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
29/02/2012 |
28/02/2011 |
28/02/2010 |
28/02/2009 |
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Annual
Sales |
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15,000 |
12,262 |
13,351 |
13,594 |
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Recur.
Profit |
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Net
Profit |
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150 |
135 |
132 |
195 |
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Total
Assets |
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2,034 |
1,941 |
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Current
Assets |
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2,022 |
1,905 |
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Current
Liabs |
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1,750 |
1,628 |
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Net
Worth |
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284 |
286 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
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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 |
22.33 |
-8.16 |
-1.79 |
91.01 |
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Current Ratio |
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.. |
115.54 |
117.01 |
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N.Worth Ratio |
.. |
13.96 |
14.73 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
1.00 |
1.10 |
0.99 |
1.43 |
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Return On Equity |
.. |
47.54 |
46.15 |
.. |
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Notes: Financials are consolidated by the parent, Olympic
Corp, and partially disclosed in digested form only.
Forecast (or estimated) figures for the 29/02/2012 fiscal
term.
SUPPLEMENTS
CONSOLIDATED
FINANCIALS OF THE PARENT, OLYMPIC CORP
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
28/02/2011 |
28/02/2010 |
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INCOME STATEMENT |
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Annual Sales |
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102,590 |
107,228 |
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Cost of Sales |
68,192 |
72,712 |
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GROSS PROFIT |
34,398 |
34,516 |
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Selling & Adm Costs |
33,492 |
34,207 |
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OPERATING PROFIT |
906 |
309 |
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Non-Operating P/L |
-23 |
19 |
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RECURRING PROFIT |
883 |
328 |
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NET PROFIT |
399 |
119 |
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BALANCE SHEET |
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Cash |
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1,873 |
2,960 |
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Receivables |
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371 |
427 |
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Inventory |
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11,054 |
10,377 |
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Securities, Marketable |
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Other Current Assets |
1,905 |
1,841 |
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TOTAL CURRENT ASSETS |
15,203 |
15,605 |
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Property & Equipment |
23,232 |
23,347 |
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Intangibles |
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1,605 |
1,748 |
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Investments, Other Fixed Assets |
24,189 |
25,430 |
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TOTAL ASSETS |
64,229 |
66,130 |
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Payables |
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7,359 |
8,937 |
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Short-Term Bank Loans |
21,069 |
22,064 |
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Other Current Liabs |
2,278 |
3,025 |
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TOTAL CURRENT LIABS |
30,706 |
34,026 |
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Debentures |
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340 |
500 |
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Long-Term Bank Loans |
3,485 |
1,765 |
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Reserve for Retirement Allw |
56 |
62 |
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Other Debts |
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1,682 |
1,885 |
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TOTAL LIABILITIES |
36,269 |
38,238 |
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MINORITY INTERESTS |
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Common
stock |
9,946 |
9,946 |
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Additional
paid-in capital |
9,829 |
9,829 |
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Retained
earnings |
8,027 |
8,047 |
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Evaluation
p/l on investments/securities |
160 |
70 |
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Others |
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1 |
2 |
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Treasury
stock, at cost |
(3) |
(3) |
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TOTAL S/HOLDERS` EQUITY |
27,960 |
27,891 |
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TOTAL EQUITIES |
64,229 |
66,130 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
28/02/2011 |
28/02/2010 |
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Cash
Flows from Operating Activities |
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318 |
1,606 |
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Cash
Flows from Investment Activities |
-1,525 |
-1,811 |
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Cash
Flows from Financing Activities |
130 |
588 |
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Cash,
Bank Deposits at the Term End |
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1,723 |
2,800 |
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ANALYTICAL RATIOS Terms ending: |
28/02/2011 |
28/02/2010 |
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Net
Worth (S/Holders' Equity) |
27,960 |
27,891 |
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Current
Ratio (%) |
49.51 |
45.86 |
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Net
Worth Ratio (%) |
43.53 |
42.18 |
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Recurring
Profit Ratio (%) |
0.86 |
0.31 |
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Net
Profit Ratio (%) |
0.39 |
0.11 |
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Return
On Equity (%) |
1.43 |
0.43 |
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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.51.98 |
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UK Pound |
1 |
Rs.80.59 |
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Euro |
1 |
Rs.69.12 |
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.