MIRA
INFORM REPORT
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Report Date : |
29.02.2012 |
IDENTIFICATION DETAILS
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Name : |
LOOK INC |
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Registered Office : |
2-7-7 Nakameguro Meguroku Tokyo153-8639 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
October 1962 |
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Com. Reg. No.: |
0132-01-006462 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of ladies’ garments |
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No. of Employees : |
1,683 |
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 823.4 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 30, 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 and address
LOOK INC
REGD NAME: Look
KK
MAIN OFFICE: 2-7-7
Nakameguro Meguroku Tokyo153-8639 JAPAN
Tel: 03-3794-9100 Fax: 03-3792-7694-
URL: http://www.look-inc.jp
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of ladies’
garments
BRANCHES
Osaka
FACTORIES
(subsidiaries)
CHIEF EXEC
TAKEHIKO MAKI,
PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen
33,928 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 5,769 M
TREND SLOW WORTH Yen 10,897 M
STARTED 1962 EMPLOYES 1,683
COMMENT
MFR OF LADIES’ GARMENTS
FINANCIAL SITUATION COSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 823.4 MILLION, 30 DAYS NORMAL TERMS
Forecast figures for the 31/12/2012 fiscal term.
HIGHLIGHTS
This is the medium-ranking mfr & seller
dealing with ladies’ garments, including dress & suits mainly for
department stores. Also stresses sales
to SPA-type stores. One of Renown group
companies. Fostering medium and light
casual suits as future mainline. In Apr
2010 acquired APC Japan, subsidiary of French firm, to establish licensed
production. Imports foreign branded
garments, too (See OPERATION for
brands). The firm opened an outlet
store for the popular “Tory Birch” brand in Sept 2011 as a means to clear
inventory. It aims to open further stores
and boost sluggish sales at department stores.
FINANCIAL INFORMATION
The sales volume for Dec/2011 fiscal
term amounted to Yen 33,928 million, a 10.4% up from Yen 30,741 million in the
previous term. Net store increase was 20,
up from nine in the preceding term.
Brands for married women were sluggish, but sales at direct-run sundry
goods stores grew. The recurring profit
was posted at Yen 1,152 million and the net profit at Yen 818 million,
respectively, compared with Yen 241 million recurring profit and Yen 43 million
net profit, respectively, a year ago.
For the current term ending Dec 2012
the recurring profit is projected at Yen 1,100 million and the net profit at
Yen 1,000 million, on a 6.1% rise in turnover, to Yen 36,000 million. Sales at existing outlets in department
stores will weaken but direct-run stores will continue favorable growth. Purchase prices will decline affected by the
low Euro, and operating profit will increase.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 823.4 million, on 30 days normal
terms.
REGISTRATION
Date
Registered: Oct 1962
Regd
No.: 0132-01-006462
Legal Status: Limited Company (Kabushiki Kaisha
Authorized:
120 million shares
Issued: 34,932,067 shares
Sum: Yen 5,769 million
Major
shareholders (%): Renown Inc (5.3), Master Trust Bank of Japan T (5.1), Yagi Tsusho (4.9),
Sumitomo Life Ins (2.2), Company’s Treasury Stock (2.0), SMBC (1.8), Japan
Securities Finance (1.6), Company’s Kyoeikai Assn (1.5), UI Zensen Domei Look
Union (1.3), Employees’ S/Holding Assn (1.2); foreign owners (2.1)
No. of shareholders: 4,816
Listed on the S/Exchange (s) of: Tokyo
Managements: Takehiko Maki,
pres; Sachio Kidokoro, s/mgn dir; Masahide Kiwada, dir; Eiji Takayama, dir;
Seuung-Gon Cho, dir
Nothing
detrimental is known as to the commercial morality of executives.
Related companies: Look (Hong Kong), IT Look, L Terminal, APC
Japan, other.
OPERATION
Activities: Manufactures,
imports, wholesales and retails ladies’ garments: dresses (8%), overcoats
(10%), casual wear (55%), accessories & others (27%)
Overseas
Sales Ratio (19.3%): Korea (18.1%), Hong Kong (0.5%), China (0.6%),
France (0.1%)
(Handling brands): SCAPA, Keith, TWO:C, Tory
Burch, Paul & Joe, Iepetto, Marimekko, American Retro, DESPERADO, Remalon,
Koret, Roga, other.
Clients: [Department stores,
wholesalers] Takashimaya, JR Tokai Takashimaya, Isetan, Seibu Department Store,
Sankei Co, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Corp,
Sankei Co, Sumikin Bussan Corp, KB
Tsuzuki Co, Maru
Textile Co, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC (Ningyocho)
MUFG (Ohdenmacho)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/12/2011 |
31/12/2010 |
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INCOME STATEMENT |
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Annual Sales |
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33,928 |
30,741 |
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Cost of Sales |
17,697 |
16,469 |
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GROSS PROFIT |
16,230 |
14,271 |
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Selling & Adm Costs |
15,151 |
14,116 |
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OPERATING PROFIT |
1,078 |
154 |
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Non-Operating P/L |
74 |
88 |
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RECURRING PROFIT |
1,152 |
242 |
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NET PROFIT |
818 |
43 |
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BALANCE SHEET |
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Cash |
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1,736 |
1,917 |
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Receivables |
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4,341 |
3,959 |
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Inventory |
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5,950 |
5,376 |
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Securities, Marketable |
0 |
1 |
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Other Current Assets |
596 |
569 |
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TOTAL CURRENT ASSETS |
12,623 |
11,822 |
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Property & Equipment |
3,349 |
3,367 |
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Intangibles |
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100 |
179 |
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Investments, Other Fixed Assets |
3,446 |
3,589 |
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TOTAL ASSETS |
19,518 |
18,957 |
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Payables |
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3,309 |
3,448 |
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Short-Term Bank Loans |
1,000 |
1,000 |
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Other Current Liabs |
2,107 |
1,828 |
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TOTAL CURRENT LIABS |
6,416 |
6,276 |
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Debentures |
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Long-Term Bank Loans |
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Reserve for Retirement Allw |
1,719 |
1,837 |
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Other Debts |
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485 |
415 |
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TOTAL LIABILITIES |
8,620 |
8,528 |
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MINORITY INTERESTS |
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Common
stock |
5,769 |
5,769 |
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Additional
paid-in capital |
1,059 |
3,034 |
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Retained
earnings |
5,495 |
2,701 |
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Evaluation
p/l on investments/securities |
519 |
647 |
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Others |
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(1,660) |
(1,438) |
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Treasury
stock, at cost |
(285) |
(284) |
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TOTAL S/HOLDERS` EQUITY |
10,897 |
10,429 |
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TOTAL EQUITIES |
19,518 |
18,957 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/12/2011 |
31/12/2010 |
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Cash
Flows from Operating Activities |
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678 |
-423 |
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Cash
Flows from Investment Activities |
-792 |
-1,347 |
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Cash
Flows from Financing Activities |
-15 |
-42 |
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Cash,
Bank Deposits at the Term End |
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1,736 |
1,917 |
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ANALYTICAL RATIOS Terms ending: |
31/12/2011 |
31/12/2010 |
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Net
Worth (S/Holders' Equity) |
10,897 |
10,429 |
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Current
Ratio (%) |
196.74 |
188.37 |
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Net
Worth Ratio (%) |
55.83 |
55.01 |
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Recurring
Profit Ratio (%) |
3.40 |
0.79 |
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Net Profit
Ratio (%) |
2.41 |
0.14 |
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Return
On Equity (%) |
7.51 |
0.41 |
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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.49.14 |
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1 |
Rs.77.86 |
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Euro |
1 |
Rs.66.06 |
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.