|
Report Date : |
18.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
TOMORROWLAND CO
LTD |
|
|
|
|
Registered Office : |
1-32-18 Ebisu-Nishi Shibuyaku |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
29.02.2012 |
|
|
|
|
Date of Incorporation : |
Sept 1979 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale,
retail of men’s/women’s wear, general apparel, accessories |
|
|
|
|
No. of Employees : |
919 |
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 : |
Regular |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
JAPAN - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a
strong work ethic, mastery of high technology, and a comparatively small defense
allocation (1% of GDP) helped Japan develop a technologically advanced economy.
Two notable characteristics of the post-war economy were the close interlocking
structures of manufacturers, suppliers, and distributors, known as keiretsu,
and the guarantee of lifetime employment for a substantial portion of the urban
labor force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - a 10% average in the 1960s,
a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed
markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s
that required a protracted period of time for firms to reduce excess debt,
capital, and labor. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001,
and third-place India, which edged out Japan in 2011. A sharp downturn in
business investment and global demand for Japan's exports in late 2008 pushed
Japan further into recession. Government stimulus spending helped the economy
recover in late 2009 and 2010, but the economy contracted again in 2011 as the
massive 9.0 magnitude earthquake in March disrupted manufacturing. Electricity
supplies remain tight because Japan has temporarily shut down almost all of its
nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled
by the earthquake and resulting tsunami. Estimates of the direct costs of the
damage - rebuilding homes, factories, and infrastructure - range from $235
billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister
Yoshihiko NODA has proposed opening the agricultural and services sectors to
greater foreign competition and boosting exports through membership in the
US-led Trans-Pacific Partnership trade talks and by pursuing free-trade
agreements with the EU and others, but debate continues on restructuring the
economy and reining in Japan's huge government debt, which exceeds 200% of GDP.
Persistent deflation, reliance on exports to drive growth, and an aging and
shrinking population are other major long-term challenges for the economy.
|
Source
: CIA |
TOMORROWLAND CO LTD
REGD NAME: KK
Tomorrowland
MAIN OFFICE: 1-32-18
Ebisu-Nishi Shibuyaku Tokyo 150-0021
Tel:
03-5456-1051 Fax: 03-5456-4655
*..
Registered at: 3-18-9 Minami-Aoyama Minatoku Tokyo
URL: http://www.tomorrowland.co.jp
E-Mail
address: (thru the URL)
Wholesale,
retail of men’s/women’s wear, general apparel, accessories
150
retail shops nationwide
(subcontracted
HIROYUKI
SASAKI, PRES Yuzo Yamamoto, mgn
dir
Toshifumi
Nishioka, mgn dir Kaoru Sasamoto,
dir
Masahiro
Kohno, dir Motonari
Kiyama, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES GOOD A/SALES Yen 38,367 M
PAYMENTSREGULAR CAPITAL Yen
27 M
TREND UP WORTH Yen 27 M
STARTED 1979 EMPLOYES 919
RETAILER OF APPAREL, ACCESSORIES.
FINANCIAL SITUATION CONSIDERED
GOOD AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Hiroyuki Sasaki in order to make most of his
experience in the subject line of business.
This is a retailer, wholesaler of men’s/women’s wear, general apparel,
accessories, other. Operates a total 150
stores nationwide, including in-shops at department stores & supermarkets. Goods are also retailed online. Handles 12 brands (See OPERATION). Clients include department stores,
supermarkets, apparel stores, other, nationwide.
The sales
volume for Feb/2012 fiscal term amounted to Yen 38,367 million, a 4% up from
Yen 37,039 million in the previous term.
Opened 5 new stores during the term: 4 in Tokyo and 1 in Osaka. The recurring profit was posted at Yen 2,670
million and the net profit at Yen 1,493 million, respectively, compared with
Yen 3,072 million recurring profit and yen 1,239 million net profit,
respectively, a year ago.
For the
current term ending Feb 2013 the recurring profit is projected at Yen 2,800
million and the net profit at Yen 1,600 million, respectively, on a 4% rise in
turnover, to Yen 40,000 million. Five to
six new stores are slated to open during the term. Business is seen expanding steadily.
Date Registered: Sept 1979
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
216,000 shares
Issued: 54,000 shares
Sum: Yen 27 million
Major shareholders (%): TML Co* (100)
*.. Holding company of group
firms
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Retails and wholesales men’s/women’s
wear, general apparel, clothing accessories: for women (60%), for men (30%),
accessories, others (10%)
(Handling brands): BALLSEY,
MACPHEE, TOMORROWLAND Collection, DES PRES, GALERIE VIE, KNOTT GALERIE VIE,
BACCA, Edition, TOMORROWLAND MEN’S, LAND OF TOMORROW, DRIES VAN NOTEN (Aoyama
Shop), SOULEIADO.
Clients: [Consumers, department stores,
supermarkets] Lumine Co, Parco Co, Isetan Mitsukoshi, Hankyu Hanshin Department
Store, Takashimaya, Fashion Building, other
No. of
accounts: 100 (Wholesale Div only)
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Marubeni Fashion
Link, Itochu Modepal Co, Mitsubishi Corporation Fashion, Takisada Osaka,
Takisada Nagoya, Chori Co, other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Tokyo-Chuo)
MUFG
(Ebisu)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
28/02/2013 |
29/02/2012 |
28/02/2011 |
28/02/2010 |
|
|
Annual
Sales |
|
40,000 |
38,367 |
37,039 |
35,875 |
|
Recur.
Profit |
|
2,800 |
2,670 |
3,070 |
|
|
Net
Profit |
|
1,600 |
1,493 |
1,239 |
1,624 |
|
Total
Assets |
|
|
21,077 |
19,885 |
22,080 |
|
Current
Assets |
|
|
16,289 |
15,288 |
|
|
Current
Liabs |
|
|
8,770 |
7,899 |
|
|
Net
Worth |
|
|
11,689 |
11,006 |
10,786 |
|
Capital,
Paid-Up |
|
|
27 |
27 |
27 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.26 |
3.59 |
3.24 |
-2.48 |
|
|
Current Ratio |
|
.. |
185.74 |
193.54 |
.. |
|
N.Worth Ratio |
.. |
55.46 |
55.35 |
48.85 |
|
|
R.Profit/Sales |
|
7.00 |
6.96 |
8.29 |
.. |
|
N.Profit/Sales |
4.00 |
3.89 |
3.35 |
4.53 |
|
|
Return On Equity |
.. |
12.77 |
11.26 |
15.06 |
|
Notes:
Forecast (or estimated) figures for the 28/02/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.97 |
|
|
1 |
Rs.87.52 |
|
Euro |
1 |
Rs.70.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.