MIRA INFORM REPORT
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Report Date : |
10.10.2011 |
IDENTIFICATION DETAILS
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Name : |
MONT BELL CO LTD |
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Registered Office : |
1-33-20 Shinmachi Nishiku Osaka 550-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
September 1975 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of outdoor sports equipment, wear |
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 499.3 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
MONT BELL CO LTD
REGD NAME
KK Mont Bell
MAIN OFFICE
1-33-20 Shinmachi
Nishiku Osaka 550-0013 JAPAN
Tel:
06-6531-4789 Fax: 06-6531-4201
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of
outdoor sports equipment, wear
BRANCHES
Tokyo
STORES
68
direct-run stores nationwide (20 each in greater-Tokyo & Osaka areas)
OVERSEAS
USA,
Switz, Nepal (--stores)
FACTORIES
(subcontracted)
OFFICERS
ISAMU
TATSUNO, PRES Fumiaki
Masaki, v pres
Takeshi
Tatsuno, s/mgn dir Yasuo
Yamakawa, mgn dir
Hiroaki
Kudo, mgn dir Sachiko
Masuo, dir
Yen
Amount: In million Yen, unless otherwise
stated
SUMMARY
FINANCES GOOD A/SALES Yen 10,089 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen 7,383 M
STARTED 1975 EMPLOYES 165
COMMENT
MFR OF OUTDOOR SPORTS GOODS.
FINANCIAL SITUATION CONSIDERED GOOD AND RESPONSIBLE FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 499.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Isamu Tatsuno with two of his mountaineering partners, Fumiaki Masaki and Sachiko Masuo (both listed as executives). This is a specialized mfr of outdoor sports outfit and wear (See OPERATION). Nation’s top-class mfr in the lines of mountain climbing & outdoor sports equipment. Goods are distributed thru its subsidiary wholesaler, Bellcadia Co Ltd, operating 68 direct-run stores nationwide. Goods are exported to USA, Korea, other. Operates three overseas stores: USA, Switz and Nepal.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 10,089
million, a 2% down from Yen 10,308 million in the previous term, as affected by
the lingering global economic downturn.
Consumer spending was sluggish.
The recurring profit was posted at Yen 345 million and the net profit at
Yen 241 million, respectively, compared with Yen 555 million recurring profit
and Yen 379 million net profit, respectively, a year ago.
For the current term ending Mar 2012 the recurring profit is projected
at Yen 350 million and the net profit at Yen 250 million, respectively, on a 4%
rise in turnover, to Yen 10,500 million.
Two new stores are slated to open in 2012, as reported.
The financial situation is considered GOOD and responsible for ORDINARY
business engagements. Max credit limit is
estimated at Yen 499.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 1975
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
160,000 shares
Issued:
40,000 shares
Sum: Yen 20 million
Major shareholders (%): Isamu Tatsuno (80)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
outdoor sports gear (50%), sports wear (50%).
(Mfg items):.
Outdoor gear: sleeping bags,
backpacks, footwear, tent, bags, cookware, bottle stove, hydration, watch,
emergency, headlamp/lantern, sunglasses/goggles, cycle gear, trekking poles,
snow gear, canoe/kayak, maintenance/repair, swim, books/CD/DVD, dog goods,
accessories, other;
Clothing: down, rainwear,
hard shells, wind jackets, soft shells, pants, T-shirts, fleece, underwear,
caps/hats, gloves, cycle clothing, shirt/polo shirts, jackets, vests, kid’s
wear, baby’s wear, skirts, socks, muffler/neck gaiter, swim, other.
(Goods by
activities): camping, trekking, cycling, motorcycling, canoe/kayak, travel,
skiing/snowboarding, trail run, fishing, emergency, photograph, snowshoe,
climbing, mountaineering, shower climbing, airboarding, other.
Clients: [Mfrs,
wholesalers] Bellcadia Co Ltd* (60%), Zett, Miyako Sports, other.
Exports to USA, Europe, Nepal, Korea, other.
*.. Subsidiary wholesaler & importer, operating 68 direct-run retail
stores nationwide
No. of accounts: 100
(Direct clients)
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Itochu Corp, Sumitomo 3M, Goa & Associates Japan, Yagi &
Co, Hokuriku Mont Bell, MORITO Co, YKK Corp, other
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
· MUFG (Shinanobashi)
· Mizuho Bank (Yotsubashi)
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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10,500 |
10,089 |
10,308 |
11,395 |
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Recur.
Profit |
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350 |
345 |
555 |
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Net
Profit |
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250 |
241 |
379 |
530 |
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Total
Assets |
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9,335 |
8,976 |
9,597 |
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Current
Assets |
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7,241 |
6,950 |
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Current
Liabs |
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1,951 |
1,830 |
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Net
Worth |
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7,383 |
7,146 |
6,771 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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Div.P.Share(¥) |
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100.00 |
100.00 |
100.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.07 |
-2.12 |
-9.54 |
-12.40 |
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Current Ratio |
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.. |
371.14 |
379.78 |
.. |
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N.Worth Ratio |
.. |
79.09 |
79.61 |
70.55 |
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R.Profit/Sales |
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3.33 |
3.42 |
5.38 |
.. |
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N.Profit/Sales |
2.38 |
2.39 |
3.68 |
4.65 |
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Return On Equity |
.. |
3.26 |
5.30 |
7.83 |
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Notes:
Forecast (or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.14 |
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UK Pound |
1 |
Rs.75.97 |
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Euro |
1 |
Rs.65.99 |
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.