MIRA INFORM REPORT
|
Report Date : |
21.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
E-MART CO., LTD. |
|
|
|
|
Registered Office : |
333-16, Seongsu 2-ga 1-dong, Seongdong-gu, Seoul, Korea, Zip Code 133-827 |
|
|
|
|
Country : |
South korea |
|
|
|
|
Financials (as on) : |
30.06.2011 |
|
|
|
|
Date of Incorporation : |
01.05.2011 |
|
|
|
|
Com. Reg. No.: |
206-86-50913 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Retail Sale in Other Non-Specialized Large Stores |
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 |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
Litigation : |
Clear |
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) |
|
South Korea |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Basic
|
Company
Name |
E-MART CO., LTD. (Korean Company
Name :” (주)이마트”) |
|
Registered Address |
333-16, Seongsu 2-ga 1-dong, Seongdong-gu,
Seoul, Korea |
|
Zip Code |
133-827 |
|
Tel |
+82-2-380-9243 |
|
Fax |
+82-2-380-9339 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
333-16, Seongsu 2-ga 1-dong, Seongdong-gu,
Seoul, Korea |
|
Tel |
+82-2-380-9238 |
|
Fax |
+82-2-380-9339 |
|
Type |
Export/Import |
|
Industry |
Retail Sale in Other Non-Specialized Large Stores |
|
Main Business |
Retail Sales Large Stores |
|
Established (mm/dd/yyyy) |
05/01/2011 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Distribution(80141700) |
|
Sell |
World wide web WWW site operation host
services(81112105) |
CEO’s
|
Name |
Choi Byung-Ryeol |
|
Date of Birth |
04/25/1949 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
139,379,095,000 |
||||||||||||||||||||||||
|
Employees |
14,251 |
||||||||||||||||||||||||
|
Formation |
Listed Company (Korea stock Exchange : 139480) as of 06/10/2011 A Company of SHINSEGAE GROUP |
||||||||||||||||||||||||
|
Bank Details |
Woori Bank |
||||||||||||||||||||||||
|
Corporate Registered No. |
110111-4594952 |
||||||||||||||||||||||||
|
Business Registered No. |
206-86-50913 |
||||||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 30693692 |
||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||
|
Company History |
05/01/2011
Incorporated after spin off from SHINSEGAE CO., LTD.(110111-0028848) |
||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Jung Yong-Jin |
Korean |
1968.09.19 |
Brown University, USA |
|
President & CEO |
Mr. |
Choi Byung-Ryeol |
Korean |
1949.04.25 |
Mokpo High School, Korea |
|
Director |
Mr. |
Hur In-Cheol |
Korean |
1960.03.26 |
Yonsei University, Korea |
|
Outside Director |
Mr. |
Jeon Hyung-Soo |
Korean |
1953.04.27 |
Yonsei University, Korea |
|
Outside Director |
Mr. |
Moon Chang-Jin |
Korean |
1953.03.02 |
Seoul National University, korea |
|
Outside Director |
Mr. |
Park Young-Ryeol |
Korean |
1956.11.06 |
Seoul National University, korea |
|
Outside Director |
Mr. |
Park Jong-Ku |
Korean |
1952.05.10 |
- |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
1,725,285,394,502 |
10,453,365,603,297 |
125,807,301,531 |
Financial Description
|
Authorized Capital(KRW) |
400,000,000,000 |
|
Paid-Up Capital(KRW) |
139,379,095,000 |
|
Total Issued Shares |
27,875,819 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2011~06/30/2011 |
|
|
|
Total Assets |
10,453,365,603,297 |
|
|
|
Current
Assets |
715,266,874,743 |
|
|
|
Cash & Cash Equivalents |
15,857,257,799 |
|
|
|
Trade Receivables & Other
Receivables |
118,221,543,550 |
|
|
|
Inventories |
466,084,475,527 |
|
|
|
Short-Term Derivatives |
19,804,113,919 |
|
|
|
Current Financial Instruments |
39,800,000,000 |
|
|
|
Other Current Assets |
55,499,483,948 |
|
|
|
Non-Current
Assets |
9,738,098,728,554 |
|
|
|
Tangibles |
6,908,044,347,432 |
|
|
|
Investment_Real Estates |
197,020,929,225 |
|
|
|
Intangibles |
25,168,516,778 |
|
|
|
Investment_Related Companies |
631,771,239,370 |
|
|
|
Marketable Financial Instruments |
1,421,513,122,481 |
|
|
|
Long-Term Derivatives |
586,626,228 |
|
|
|
Long-Term Current Financial
Instruments |
346,316,410,516 |
|
|
|
Other Non-Current Assets |
207,677,536,524 |
|
|
|
Total
Liabilities |
4,871,963,669,306 |
|
|
|
Current
Liabilities |
2,693,413,170,317 |
|
|
|
Trade Payables & Other
Payables |
928,478,326,705 |
|
|
|
Short-Term Borrowings |
1,308,656,666,762 |
|
|
|
Short-Term Derivatives |
344,151,324 |
|
|
|
Merchandise Coupon |
236,811,504,000 |
|
|
|
Accrued Income Tax |
36,067,165,927 |
|
|
|
Other Current Financial Debts |
166,203,578,355 |
|
|
|
Other Current Liabilities |
16,851,777,244 |
|
|
|
Non-Current
Liabilities |
2,178,550,498,989 |
|
|
|
Long-Term Borrowings |
1,431,831,540,003 |
|
|
|
Long-Term Derivatives |
80,652,261,885 |
|
|
|
Provision for Severance &
Retirement |
103,983,715,567 |
|
|
|
Deferred Income Tax Credit |
412,730,289,998 |
|
|
|
Long-Term Finance Debts |
119,370,073,219 |
|
|
|
Other Non-Current Liabilities |
29,982,618,317 |
|
|
|
Capital
Stock |
139,379,095,000 |
|
|
|
Capital Surplus |
4,193,533,807,329 |
|
|
|
Profit Surplus |
125,820,194,129 |
|
|
|
Others |
1,122,668,837,533 |
|
|
|
Total Equity |
5,581,401,933,991 |
|
|
|
Liab. & Shareholder’s Equity |
10,453,365,603,297 |
|
|
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2011~06/30/2011 |
|
|
|
Sales |
1,725,285,394,502 |
|
|
|
Cost of Sold Goods |
1,234,216,365,769 |
|
|
|
Gross Profit |
491,069,028,733 |
|
|
|
Selling & Admin. Expenses |
339,147,195,063 |
|
|
|
Other Operating Income |
6,637,415,794 |
|
|
|
Other Operating Expenses |
3,260,050,016 |
|
|
|
Operating Income |
155,299,199,448 |
|
|
|
Finance Income |
41,106,509,885 |
|
|
|
Finance Expenses |
33,452,823,658 |
|
|
|
Income Before Taxes |
162,952,885,675 |
|
|
|
Income Taxes Expenses |
37,145,584,144 |
|
|
|
Net Income |
125,807,301,531 |
|
|
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2011~06/30/2011 |
|
|
|
Operating
Activities Cash Flows |
178,120,668,652 |
|
|
|
Cash Flows from Operating |
162,004,924,616 |
|
|
|
Interests Paid |
-13,548,522,674 |
|
|
|
Interests Received |
161,037,440 |
|
|
|
Dividends Received |
29,525,334,000 |
|
|
|
Income Taxes |
-22,104,730 |
|
|
|
Cash Flows from Investing |
-109,964,284,693 |
|
|
|
Cash Flows from Financing |
-70,941,532,332 |
|
|
|
Increase/Decrease in Cash |
-2,785,148,373 |
|
|
|
Cash at the Beginning of Year |
18,642,406,172 |
|
|
|
Cash at the End of Year |
15,857,257,799 |
|
|
Products, Technologies, Services Description
|
Main Products & Services |
Distribution Services, Retail Store
Services (*)The Subject operates 136 domestic marts. |
Trade Partners & Competitors
|
Competitors |
HOMEPLUS TESCO CO., LTD. 592, TANBANG-DONG, SEO-GU, DAEJEON, KOREA TEL:+82-42-488-8351~6 FAX:+82-42-488-8360 COSTCO WHOLESALE KOREA, INC. COSTCO KOREA BLDG., 65, YANGPYEONGDONG
3-GA, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-2679-1234 FAX:+82-2-2630-2633 E-LAND WORLD CO., LTD. E-LAND BLDG., 19-8, CHANGJEON-DONG,
MAPO-GU, SEOUL, KOREA TEL:+82-2-323-0456 FAX:+82-2-332-6445 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
SHINSEGAE CO., LTD.(110111-0028848) 52-5, CHUNGMURO 1-GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-727-1234 FAX:+82-2-727-1180 THE CHOSUN HOTEL CO., LTD. (98.0% held by the subject company) 87 SOGONG-DONG, JUNG-GU, SEOUL, KOREA HOMEPAGE:WWW.ECHOSUNHOTEL.COM TEL:+82-2-772-0500 FAX:+82-2-753-6370 SHINSEGAE ENGINEERING & CONSTRUCTION
CO., LTD. (32.4% 56-85 JANGCHUNG-DONG1-GA,JUNG-GU,SEOUL,
KOREA HOMEPAGE:WWW.SHINSEGAE-CON.CO.KR TEL:+82-2-3406-6620 FAX:+82-2-3406-6666 SHINSEGAE INTERNATIONAL CO., LTD. 79-17, CHEONG-DAM DONG, KANG-NAM GU, SEOUL,
KOREA HOMEPAGE:WWW.SIKOREA.CO.KR TEL:+82-2-3440-1234 FAX:+82-2-3440-1011 SHINSEGAE FOOD CO., LTD. (52.1% held by the subject company) SHINSEGAE DIGITAL CENTER 6F 197-12
GURO-DONG, GURO-GU, SEOUL, KOREA HOMEPAGE:WWW.SFS.CO.KR TEL:+82-2-3397-6000 FAX:+82-2-3397-6199 SHINSEGAE I&C CO., LTD. (29.0% held by the subject company) SHINSEGAE DIGITAL CENTER 197-12 GURO-DONG,
GURO-GU, SEOUL, KOREA HOMEPAGE:WWW.SINC.CO.KR TEL:+82-2-3397-1234 FAX:+82-2-3397-1111 STARBUCKS COFFEE KOREA CO., LTD. (50.0% held by the subject company) 87-10 SOGONG-DONG, JUNG-GU, SEOUL, KOREA HOMEPAGE:WWW.ISTARBUCKS.CO.KR TEL:+ 82-2-3015-1700 FAX:+ 82-2-3015-1106 SHINSEGAE L&B CO., LTD.(110111-4015338) (100.0% held by the subject company) |
|
Subsidiary |
SHANGHAI E-MART CO., LTD.(CHINA) (98.9% held by the subject company) TIANJIN E-MART CO., LTD.(CHINA) (83.0% held by the subject company) SHANGHAI SHINSEGAE DEPARTMENT STORE CO.,
LTD.(CHINA) (100.0% held by the subject company) MUSUCK E-MART CO., LTD.(CHINA) (100.0% held by the subject company) BEIJING E-MART CO., LTD.(CHINA) (100.0% held by the subject company) KONSAN E-MART CO., LTD.(CHINA) (100.0% held by the subject company) YOUNGPA EMART CO., LTD.(CHINA) (100.0% held by the subject company) HANGZHOU E-MART CO., LTD.(CHINA) (100.0% held by the subject company) SANGJU SHINSEGAE E-MART CO., LTD.(CHINA) (100.0% held by the subject company) TAEJU SHINSEGAE COMMERCIAL CO., LTD.(CHINA) (100.0% held by the subject company) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
06/2011 |
2010 |
2009 |
|
Export |
132 |
|
|
|
Domestic |
1,725,153 |
|
|
|
Total |
1,725,285 |
|
|
The Subject deals
with the companies in China.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.71 |
|
UK Pound |
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.68.05 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.