MIRA
INFORM REPORT
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Report Date : |
25.01.2012 |
IDENTIFICATION DETAILS
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Name : |
KOBE BUSSAN CO LTD |
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Registered Office : |
883 Naka-Isshiki Kakogun Hyogo-Pref
675-1177 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2011 |
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Date of Incorporation : |
April 1991 |
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Com. Reg. No.: |
(Hyogo-Kakogun) 044630 |
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Legal Form : |
Limited Company |
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Line of Business : |
Operator of commercial-use supermarket
chains |
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No. of Employees : |
839 |
RATING & COMMENTS
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MIRAs 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 3,370 Million |
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Status : |
Good |
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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 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
KOBE BUSSAN CO LTD
REGD NAME: KK
Kobe Bussan
MAIN OFFICE: 883
Naka-Isshiki Kakogun Hyogo-Pref 675-1177 JAPAN
Tel:
079-496-6610 Fax: 079-496-6620
URL: http://www.kobebussan.co.jp/
E-Mail address: store@kobebussan.co.jp
ACTIVITIES
Operator of
commercial-use supermarket chains
STORES
Tohoku (25), Kanto
(102), Chubu (54), Kansai (155), Chugoku (31),
Shikoku (17),
Kyushu (17). (Tot 570)
FACTORIES
China (2), Hong
Kong (--food processing yards)
CHIEF EXEC
SHOJI NUMATA, PRES
& CEO
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 150,682 M
PAYMENTS REGULAR CAPITAL Yen 64 M
TREND STEADY WORTH Yen
13,891 M
STARTED 1985 EMPLOYES 839
COMMENT
OPERATOR OF COMMERCIAL-USE SUPERMARKET CHAINS.
FINANCIALS SITUATION CONSIDERED FAIR AND
GOOD FOR ORDINARYBUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 3,370 MILLION, 30 DAYS NORMAL TERMS.
Forecast (or estimated) figures for 31/10/2012 fiscal term
HIGHLIGHTS
The subject company was established by Shoji
Numata in order to make most of his
experience in the subject line of business.
Kanji Sagawa took the pres office on 01/09/2004, with S Numata taking
the ch post. This is an operator of
commercial-use supermarket chains of about 570 stores including franchisees
nationwide. The firm also supplies
foodstuffs and other goods to these franchisees. Goods are manufactured at about 50 subcontracted
factories in China and other S/E Asian countries. Has two directly-run factories in China. The firm features integrated operation from
development to production, distribution and sale of
less-agrochemical/no-additive products.
The firm will increase the number of FC Iron Plate Buffet Greens K
restaurants to 100 in Oct 2012 term. it
is planning to expand farmland operations mainly in Hokkaido.
FINANCIAL INFORMATION
The sales volume for Oct/2011 fiscal term amounted to Yen 150,682
million, a 9.0% up from Yen 138,234 million in the previous term. Opened 39 new stores, closing 6 stores,
during the term. The recurring profit
was posted at Yen 3,581 million and the net profit at Yen 1,754 million,
respectively, compared with Yen 2,843 million recurring profit and Yen 948
million net profit, respectively, a year ago.
For the current term ending Oct 2012 the
recurring profit is projected at Yen 3,800 million and the net profit at Yen
1,910 million, respectively, on a 6.3% rise in turnover, to Yen 160,200
million. In the October 2012 term, sales
at existing business-use supermarkets will stay almost flat, but those of
frozen foods will continue expansion, with 50 newly opened stores (40 new
stores in the preceding term) making contributions. Self-cooking type new stores will also
contribute..
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 3,370 million, on 30 days normal
terms.
REGISTRATION
Date Registered:
Apr 1991
Regd No.:
(Hyogo-Kakogun) 044630
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 32 million shares
Issued:
8.8 million shares
Sum: Yen 64 million
Major
shareholders (%): Shoji Numata (51.6), Companys Treasury Stock (11.0), Mineko Numata (4.5),
Japan Securities Finance (2.1), Matsui Miso (2.1), Mineral Soft (1.5), FP
Support (A) (1.0), Takahiko Matsui (1.0); foreign owners (1.3)
No. of shareholders: 2,109
Listed on the
S/Exchange (s) of: Osaka (Second Section) (Listed in
Jun/2006).
Managements: Shoji Numata, pres/ch; Yasuhiro
Tanaka, v pres; Tsutomu Nakashima, dir; Hirosuke Okazaki, dir; Kazuo Asami,
dir; Satoshi Nishida, dir; Yasuhiro Yago, dir; Hirokazu Numata, dir; Takumi
Kobayashi, dir
Nothing detrimental is known as to the
commercial morality of executives.
Related companies: Kobe Bussan Foods (Hong Kong), Dalian Fulaixin Foods,
Kobebussan Foods Ltd (Anqin) (--China).
OPERATION
Activities: Operator of
commercial-use supermarket chains of a total 576 stores, including franchisees, nationwide; also imports
foodstuffs from about 50 subcontracted factories in China, including 3 subsidiaries, and other S/E Asian
countries (--100%).
Imports from China account for 60-70% of
total vegetable imports.
Import sources are expanded to Egypt, etc
Clients: Consumers, franchisees, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from China & other S/E Asian subcontracted facto
ries..
Also supplied from Nippon Meat Packers, Itoham Foods, Prima Meat
Packers, Marudai Foods, Snow Brand Access, other.
Payment record: Regular
Location: Business area in
Kakogun, Hyogo-Pref. Office premises at
the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Kobe-Chuo)
SMBC (Kobe)
Relations:
Satisfactory
Financials
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/10/2011 |
31/10/2010 |
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INCOME STATEMENT |
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Annual Sales |
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150,682 |
138,234 |
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Cost of Sales |
141,325 |
130,205 |
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GROSS PROFIT |
9,356 |
8,028 |
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Selling & Adm Costs |
5,760 |
5,177 |
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OPERATING PROFIT |
3,596 |
2,851 |
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Non-Operating P/L |
-15 |
-8 |
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RECURRING PROFIT |
3,581 |
2,843 |
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NET PROFIT |
1,754 |
948 |
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BALANCE SHEET |
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Cash |
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24,016 |
21,096 |
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Receivables |
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7,442 |
7,145 |
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Inventory |
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4,549 |
3,257 |
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Securities, Marketable |
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Other Current Assets |
605 |
419 |
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TOTAL CURRENT ASSETS |
36,612 |
31,917 |
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Property & Equipment |
10,288 |
7,551 |
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Intangibles |
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334 |
331 |
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Investments, Other Fixed Assets |
1,239 |
1,442 |
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TOTAL ASSETS |
48,473 |
41,241 |
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Payables |
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11,483 |
10,706 |
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Short-Term Bank Loans |
456 |
458 |
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Other Current Liabs |
2,082 |
2,218 |
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TOTAL CURRENT LIABS |
14,021 |
13,382 |
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Debentures |
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Long-Term Bank Loans |
16,673 |
11,630 |
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Reserve for Retirement Allw |
76 |
63 |
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Other Debts |
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3,812 |
3,598 |
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TOTAL LIABILITIES |
34,582 |
28,673 |
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MINORITY INTERESTS |
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Common
stock |
64 |
64 |
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Additional
paid-in capital |
8,196 |
8,196 |
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Retained
earnings |
7,384 |
5,720 |
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Evaluation
p/l on investments/securities |
(669) |
(570) |
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Others |
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(1) |
(1) |
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Treasury
stock, at cost |
(1,083) |
(842) |
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TOTAL S/HOLDERS` EQUITY |
13,891 |
12,567 |
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TOTAL EQUITIES |
48,473 |
41,241 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/10/2011 |
31/10/2010 |
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Cash
Flows from Operating Activities |
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2,147 |
3,823 |
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Cash
Flows from Investment Activities |
-4,921 |
-1,835 |
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Cash Flows
from Financing Activities |
4,478 |
6,684 |
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Cash,
Bank Deposits at the Term End |
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22,363 |
20,606 |
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ANALYTICAL RATIOS Terms ending: |
31/10/2011 |
31/10/2010 |
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Net
Worth (S/Holders' Equity) |
13,891 |
12,567 |
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Current
Ratio (%) |
261.12 |
238.51 |
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Net
Worth Ratio (%) |
28.66 |
30.47 |
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Recurring
Profit Ratio (%) |
2.38 |
2.06 |
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Net
Profit Ratio (%) |
1.16 |
0.69 |
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Return
On Equity (%) |
12.63 |
7.54 |
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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.49.97 |
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1 |
Rs.77.74 |
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Euro |
1 |
Rs.65.09 |
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 SCs 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.