|
Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
BOND & CO LTD |
|
|
|
|
Registered Office : |
1-1-4 Shimagamicho Hyogoku Kobe 652-0833 |
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|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
August 1995 |
|
|
|
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Com. Reg. No.: |
1400-01-014138 (Kobe-Hyogoku) |
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|
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Legal Form : |
Limited Company |
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|
|
|
Line of Business : |
Import, export, wholesale of
liquor, cigarettes, foods, cosmetics, toiletries |
|
|
|
|
No. of Employees : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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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 |
|
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 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 |
BOND & CO LTD
KK Bond Shokai
1-1-4 Shimagamicho
Hyogoku Kobe 652-0833 JAPAN
Tel:
078-671-6001 Fax: 078-651-6514
URL: http://www.bondco.co.jp
E-Mail address: info@bondco.co.jp
Import,
export, wholesale of liquor, cigarettes, foods, cosmetics, toiletries
Tokyo,
Yokohama, Osaka, Onomichi
·
SEIJI TSUBAKIHARA, PRES
·
Takeo Tsubakihara, ch
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,601 M
PAYMENTSSlow CAPITAL Yen 50 M
TREND SLOW WORTH Yen (-) 20 M
STARTED 1995 EMPLOYES 20
TRADING HOUSE SPECIALIZING IN LIQUORS & OTHER CONSUMER
GOODS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD
FOR MODERATE BUSINESS ENGGEMENTS.
MAX
CREDIT LIMIT: YEN (-) 2.4 MILLION, 30 DAYS, RECOMMENDING FULLY SECURED TERMS ON
NEW TRANSACTIONS. .
This
an old-established trading firm dating back to 1912, when Seijiro Tsubakihara
founded a partnership firm in Yokohama for supplying liquor & cigarettes to
foreign vessels calling Yokohama Port.
Incorporated in 1995 the firm has been succeeded by his
descendants. Takeo is the founder’s son
and Seiji his grandson. This is a
trading firm for import, export and wholesale of wines, beer, sake, whiskies,
other liquors as the mainstay items.
Also handles foodstuffs, cigarettes, cigars, cameras, watches,
toiletries, cosmetics, other consumer goods.
The firm has branches in major port cities nationwide and supplies
duty-free foods & liquor to ocean-going vessels and airlines at all ports
& airports of Japan. The company
name came from the bonded house. Goods
are imported from USA, Europe, etc.
Major clients include shipping firms and airlines, domestic &
foreign.
The
sales volume for Dec/2012 fiscal term amounted to Yen 1,601 million, a 4% down
from Yen 1,672 million in the previous term.
Sales were hurt by the high Yen, decreasing revenues in Yen terms. The operations came back to profitability to
post Yen 32 million recurring profit and Yen 31 million ne profit,
respectively, compared with Yen 109 million recurring loss and Yen 118 million
net losses, respectively, a year ago.
For
the current tem ending Dec 2013 the recurring profit is projected at Yen 40
million and the net profit at Yen 35 million, respectively, on a 3% rise in
turnover, to Yen 1,650 million.
The
financial situation is considered RATHER WEAK but should be good for MODERTE
business engagements. Max credit limit
is estimated at Yen (-) 2.4 million, on 30 days, highly recommending secured
terms on new transactions. Negative net
worth.
Date Registered: Aug
1995
Regd No.: 1400-01-014138 (Kobe-Hyogoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
1,494 shares
Issued:
1,000 shares
Sum: Yen 50 million
Major shareholders (%):
Takeo Tsubakihara (60), Seiji Tsubakihara (15), Koji Tsubakihara (5)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities:
Imports, exports, wholesales and retails wines (25%), cigarettes, cigars (--10%), Scotch whiskies, brandy, Japanese
sake, other liquor (--40%), canned/bottled foods, chocolates, sweets, other
foodstuffs (--15%), cameras, watches, cosmetics, toiletries, other consumer
goods (--10%). (Breakdowns are all
about)
Supplies
bonded stores (liquor, tobacco, foodstuffs) to ocean-going vessels and
international airlines at major sea ports and airports nationwide.
Import: 35%; wholesale 85%,
retail 15%
Clients: [Wholesalers,
department stores, airport shops, airlines, ship operators]
ANA Trading Duty Free Co, Japan Airport Terminal
Co, Senshukai, JTB, Mitsui-OSK Lines, Hankyu Travel, Daimaru, Kansai Int’l
Airport Terminal, Meidi-Ya, Hankyu Department Store, Alitalia, Air France,
Lufthansa, Kobe Sempaku Shokuhin,
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Permod Richard Japan, MHD Diageo, Moet, Hennessy, Suntory, Nestle Japan, Philip Morris, Asahi
Beer, Sapporo Beer, Japan Tobacco Inc, British American Tobacco Japan, Satsuma
Shuzo Co, Hakutsuru Sake Brewing, Maxim Japan, other.
Payment record: slow
Location: Business area in
Kobe. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC (Hyogo)
MUFG (Kobe)
Relations: Satisfactory.
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
||
|
Annual
Sales |
|
1,650 |
1,601 |
1,672 |
2,048 |
|
|
Recur.
Profit |
|
40 |
32 |
-109 |
|
|
|
Net
Profit |
|
35 |
31 |
-118 |
-80 |
|
|
Total
Assets |
|
|
812 |
851 |
961 |
|
|
Current
Assets |
|
|
605 |
631 |
739 |
|
|
Current
Liabs |
|
|
534 |
552 |
-662 |
|
|
Net
Worth |
|
|
-20 |
-51 |
-160 |
|
|
Capital,
Paid-Up |
|
|
50 |
50 |
50 |
|
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
||
|
S.Growth Rate |
3.06 |
-4.25 |
-18.36 |
-5.97 |
||
|
Current Ratio |
|
.. |
113.30 |
114.31 |
-111.63 |
|
|
N.Worth Ratio |
.. |
-2.46 |
-5.99 |
-16.65 |
||
|
R.Profit/Sales |
|
2.42 |
2.00 |
-6.52 |
.. |
|
|
N.Profit/Sales |
2.12 |
1.94 |
-7.06 |
-3.91 |
||
Note:
Forecast (or estimated) for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.73 |
|
UK Pound |
1 |
Rs.90.61 |
|
Euro |
1 |
Rs.76.96 |
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.