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Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAPPORO BREWERIES LTD |
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Registered Office : |
Ebisu Garden Place Tower, 4-20-1 Ebisu
Shibuyaku Tokyo 150-8686 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
July 2003 |
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Com. Reg. No.: |
0110-01-040690 (Tokyo-Shibuya) |
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Legal Form : |
Limited Company |
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Line of Business : |
Beer brewery, whisky, wine, happoshu, shochu |
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No. of Employees : |
2,221 |
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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 small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. 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. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan 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 and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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 |
SAPPORO BREWERIES LTD
Sapporo Beer KK
Ebisu Garden Place
Tower, 4-20-1 Ebisu Shibuyaku Tokyo 150-8686 JAPAN
Tel:
03-5475-8050
Fax: 03-5475-8051
URL: http://www.sapporobeer.jp
E-Mail address: (thru the URL)
Beer brewery, whisky, wine, happoshu, shochu
Sapporo, Sendai, Osaka, Hiroshima, Fukuoka
Sapporo,
Sendai, Nasu, Gunma, Chiba, Shizuoka, Oita
MASAKI
OGA, PRES Seiichiro Ichikawa, mgn dir
Takafumi Sugigaki, dir Junji Watari, dir
Yasuyuki Ohira, dir Hiroshi Tokimatsu, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 270,137 M
PAYMENTS REGULAR CAPITAL Yen
10,000 M
TREND UP WORTH Yen 40,443 M
STARTED 2003 EMPLOYES 2,221
BEER BREWERY.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1949 as Ebisu Brewery Co
and later merged with Dainippon Beer and renamed as captioned. In July 2003 formed a holding company,
Sapporo Holdings Ltd and delisted and became its subsidiary together with group
firms, including Sapporo Lion Ltd, Sapporo Wines Ltd, Sapporo Beverage Co,
other. The subject makes beer, wines
& spirits, shochu, other. Group
firms make soft drinks, Pokka, other.
Operates beer restaurants nationwide.
The sales volume for Dec/2012 fiscal term amounted to Yen 270,137
million, a 3% up from Yen 263,173 million in the previous term. The recurring profit was posted at Yen 4,795
million and the net profit at Yen 2,212 million, respectively, compared with
Yen 6,487 million recurring profit and Yen 458 million net profit,
respectively, a year ago.
For the current term ending Dec 2013 the recurring profit is projected
at Yen 4,800 million and the net profit at Yen 2,300 million, respectively, on
a 3% rise in turnover, to Yen 278,000 million.
Domestic beer sales are strong.
Low or non alcoholic beverages are increasing. The firm’s Black Label is selling well.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: July 2003
Regd No.: 0110-01-040690 (Tokyo-Shibuya)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued:
200,000 shares
Sum: Yen 100,000 million
Major shareholders
(%): Sapporo Holdings Ltd* (100)
*.. Holding firm of Sapporo group firms, founded 2003, listed Tokyo S/E,
capital Yen 53,886 million, sales Yen 492,490 million, operating profit Yen
14,414 million, recurring profit Yen 13,689 million, net profit Yen 5,191
million, total assets Yen 584,583 million, net worth Yen 131,639 million,
employees 7,264, pres Tsutomu Kamijo
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Beer
brewery: international alcoholic beverages (59%), international alcoholic
beverages (6%), beverages (8%), Pokka Group (soft drinks) (17%), restaurants
(5%), others (3%) (All the group sales), wines are also imported.
Clients:
[Mfrs, wholesalers] Ryoshoku Liquor, Kokubu Co, Mitsui Foods, Itochu Foods,
Nihon Shurui Hambai Co, Osawaya Co, other
No. of
accounts: 1,000
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Marubeni Corp, Showa Denko, Daiwa Can Co, Dainippon
Printing, Rengo Co Ltd, Sapporo Wine, other
Payment
record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Corporate Bank
(Ohtemachi)
MUFG (Shimbashi)
Relations: Satisfactory
(In Million Yen)
|
Terms
Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual
Sales |
|
278,000 |
270,137 |
263,173 |
274,386 |
|
Recur.
Profit |
|
4,800 |
4,795 |
6,487 |
6,512 |
|
Net
Profit |
|
2,300 |
2,212 |
458 |
10,860 |
|
Total
Assets |
|
|
201,708 |
210,945 |
220,667 |
|
Current
Assets |
|
|
74,617 |
74,532 |
73,086 |
|
Current
Liabs |
|
|
101,683 |
116,017 |
151,143 |
|
Net
Worth |
|
|
40,443 |
36,350 |
36,574 |
|
Capital,
Paid-Up |
|
|
10,000 |
10,000 |
10,000 |
|
Div.P.Share(¥) |
|
|
7.00 |
7.00 |
7.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.91 |
2.65 |
-4.09 |
-1.50 |
|
|
Current Ratio |
|
.. |
73.38 |
64.24 |
48.36 |
|
N.Worth Ratio |
.. |
20.05 |
17.23 |
16.57 |
|
|
R.Profit/Sales |
|
1.73 |
1.78 |
2.46 |
2.37 |
|
N.Profit/Sales |
0.83 |
0.82 |
0.17 |
3.96 |
|
|
Return On Equity |
.. |
5.47 |
1.26 |
29.69 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.67 |
|
UK Pound |
1 |
Rs.102.20 |
|
Euro |
1 |
Rs.87.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.