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Report Date : |
04.05.2012 |
IDENTIFICATION DETAILS
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Name : |
MARUZEN CO LTD |
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Registered Office : |
Kokusai Hamamatsucho Bldg, 1-9-18 Kaigan Minatoku |
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Country : |
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Financials (as on) : |
31.01.2012 |
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Date of Incorporation : |
March, 1880 |
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Com. Reg. No.: |
0107-01-026217 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale, retail of books, magazines, educational books, other |
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No. of Employees : |
550 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 30, 2011
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
MARUZEN CO LTD
Maruzen KK
Kokusai Hamamatsucho Bldg, 1-9-18 Kaigan Minatoku
Tel: 03-6367-6101 Fax:
03-6367-6207
*.. Registered at: 2-3-10 Nihombashi Chuoku
E-Mail address: (thru the URL)
Wholesale, retail of books, magazines, educational books, other
22 Branches & Shops nationwide
(publishing is done by subsidiaries)
EISUKE MATSUO, PRES Akira
Ishii, ch
Mitsui Nitta, v ch Hiroyuki Hijikata, mgn dir
Mitsuhiko Ebihara, dir Tatsuo
Komaki, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 48,220 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 4,821 M
TREND SLOW WORTH Yen 3,498 M
STARTED 1880 EMPLOYES 550
BOOK STORE OPERATOR.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Yuteki Hayashi, disciple of
educator Yukichi Fukuzawa, in order to publish educational books &
magazines. In Feb 2011, separated the
publishing business to a subsidiary company, Maruzen Publishing Co Ltd. The firm now manages book stores, operated by
a subsidiary, and supervises overall business operations. Clients include government agencies,
universities, schools, business firms, other nationwide.
The sales volume for Jan/2012 fiscal term amounted to Yen 48,220
million, a 22% down from Yen 61,625 million in the previous term. This is referred to the said transfer of
publishing operations to a subsidiary.
The operations continued in the deficit to post Yen 2,245 million
recurring loss and Yen 3,403 million net losses, respectively, compared with
Yen 2,880 million recurring loss and Yen 1,613 million net losses,
respectively, a year ago.
For the term that ended Jan 2013 the operations are projected to come
back to profitability but still limited to a minimum amount post-taxes, on a 2%
rise in turnover, to Yen 49,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Mar 1880
Regd No.: 0107-01-026217 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
370 million shares
Issued:
92.55 million shares
Sum: Yen 4,821 million
Major shareholders
(%): Maruzen CHI Holdings Co Ltd* (100)
*.. Holding company, founded 2010, listed Tokyo S/E’s, capital Yen 3,000
million, sales
Yen 176,013 million, operating profit Yen 5 million, recurring loss Yen
118 million, net loss Yen 3,096 million, total assets Yen 125,555 million, net
worth Yen 30,825 million, employees 1,327, pres Takehiko Ogi
Consolidated Financials are attached (See SUPPLEMENTS)
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Import of books,
journals, electronic content, online products, etc, and sales of imported and
Japanese products for university and educational markets and libraries in
Japan; international sales of Japanese books and journals; in-store sales of
books, journals, stationery and apparel; publishing; education-related business
consulting services; library operations outsourcing services; consulting on
installation of university facilities and libraries, other (--100%)
Clients: Consumers,
universities, government agencies, libraries, other
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesales] TOHAN Co, Sumitomo 3M, Okamura Corp, Nippan Co, other
Payment record: No Complaints
Location: Business area in
Bank References:
SMBC (Kyobashi)
Mizuho Bank (Yaesuguchi)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/01/2013 |
31/01/2012 |
31/01/2011 |
31/01/2010 |
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Annual Sales |
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49,000 |
48,220 |
61,525 |
88,975 |
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Recur. Profit |
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0 |
-2,245 |
-2,880 |
-538 |
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Net Profit |
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0 |
-3,403 |
-1,613 |
-723 |
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Total Assets |
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30,146 |
51,898 |
67,660 |
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Current Assets |
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20,584 |
37,506 |
35,591 |
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Current Liabs |
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24,220 |
36,975 |
33,119 |
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Net Worth |
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3,498 |
10,038 |
11,936 |
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Capital, Paid-Up |
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4,821 |
4,821 |
4,821 |
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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 |
1.62 |
-21.63 |
-30.85 |
-7.18 |
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Current Ratio |
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.. |
84.99 |
101.44 |
107.46 |
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N.Worth Ratio |
.. |
11.60 |
19.34 |
17.64 |
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R.Profit/Sales |
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0.00 |
-4.66 |
-4.68 |
-0.60 |
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N.Profit/Sales |
0.00 |
-7.06 |
-2.62 |
-0.81 |
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Return On Equity |
.. |
.. |
-16.07 |
-6.06 |
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Notes: Forecast (or estimated) figures for the 31/01/2013 fiscal term.
CONSOLIDATED
FINANCIALS OF THE PARENT, MARUZEN CHI HOLDINGS CO LTD
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FINANCES: (Consolidated in million yen) |
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Terms Ending: |
31/01/2012 |
31/01/2011 |
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INCOME STATEMENT |
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Annual Sales |
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176,013 |
115,270 |
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Cost of Sales |
133,784 |
88,414 |
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GROSS PROFIT |
42,228 |
26,856 |
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Selling & Adm Costs |
42,223 |
28,112 |
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OPERATING PROFIT |
5 |
-1,255 |
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Non-Operating P/L |
-113 |
155 |
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RECURRING PROFIT |
-118 |
-1,100 |
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NET PROFIT |
-3,096 |
-1,273 |
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BALANCE SHEET |
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Cash |
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14,874 |
16,060 |
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Receivables |
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20,240 |
13,841 |
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Inventory |
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43,865 |
16,944 |
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Securities, Marketable |
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Other Current Assets |
8,522 |
8,086 |
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TOTAL CURRENT ASSETS |
87,501 |
54,931 |
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Property & Equipment |
20,036 |
10,856 |
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Intangibles |
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4,821 |
5,086 |
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Investments, Other Fixed Assets |
13,197 |
6,268 |
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TOTAL ASSETS |
125,555 |
77,141 |
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Payables |
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22,300 |
14,890 |
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Short-Term Bank Loans |
29,344 |
20,400 |
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Other Current Liabs |
15,336 |
9,940 |
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TOTAL CURRENT LIABS |
66,980 |
45,230 |
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Debentures |
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1,040 |
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Long-Term Bank Loans |
6,702 |
816 |
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Reserve for Retirement Allw |
3,944 |
3,970 |
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Other Debts |
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16,063 |
1,436 |
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TOTAL LIABILITIES |
94,729 |
51,452 |
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MINORITY INTERESTS |
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Common stock |
3,000 |
3,000 |
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Additional paid-in capital |
14,217 |
8,482 |
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Retained earnings |
14,052 |
14,419 |
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Evaluation p/l on
investments/securities |
(1,230) |
(933) |
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Others |
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786 |
720 |
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Treasury stock, at cost |
0 |
0 |
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TOTAL S/HOLDERS` EQUITY |
30,825 |
25,688 |
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TOTAL EQUITIES |
125,555 |
77,141 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/01/2012 |
31/01/2011 |
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Cash Flows from Operating Activities |
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-545 |
1,548 |
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Cash Flows from Investment
Activities |
-6,171 |
-470 |
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Cash Flows from Financing Activities |
3,113 |
1,327 |
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Cash, Bank Deposits at the Term End |
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14,152 |
15,750 |
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ANALYTICAL RATIOS Terms ending: |
31/01/2012 |
31/01/2011 |
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Net Worth (S/Holders' Equity) |
30,825 |
25,688 |
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Current Ratio (%) |
130.64 |
121.45 |
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Net Worth Ratio (%) |
24.55 |
33.30 |
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Recurring Profit Ratio (%) |
-0.07 |
-0.95 |
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Net Profit Ratio (%) |
-1.76 |
-1.10 |
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Return On Equity (%) |
-10.04 |
-4.96 |
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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.53.23 |
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1 |
Rs.86.14 |
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Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
---- |
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.