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Report Date : |
18.03.2013 |
IDENTIFICATION DETAILS
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Name : |
JUN CO LTD |
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Registered Office : |
Minami Aoyama M-Square, 2-2-3 Minamiaoyama Minatoku Tokyo 107-0062 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
December 1958 |
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Com. Reg. No.: |
0104-01-013678
(Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale, retail of clothing for men & women;
golf course management |
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No. of Employees : |
8 |
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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
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 |
JUN CO LTD (Vis Division: handles clothing for
20’s)
REGD NAME: KK
Jun
MAIN OFFICE: Minami
Aoyama M-Square, 2-2-3 Minamiaoyama Minatoku Tokyo 107-0062
JAPAN
Tel: 03-6890-8888
E-Mail
address: jun@jun.co.jp
Import,
wholesale, retail of clothing for men & women; golf course management
450
in-shop stores nationwide, from Hokkaido to Okinawa; 30 franchisees
Shanghai
(China), New York
Tochigi
(2)
(subcontracted)
SUSUMU
SASAKI, PRES
Tadashi Sasaki, ch
Hisao
Horiguchi, s/mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 43,250 M
PAYMENTSREGULAR CAPITAL Yen
26 M
TREND UP WORTH Yen 34,219 M
STARTED 1958 EMPLOYES 8
WHOLESALER AND RETAILER SPECIALIZING IN CLOTHING & ACCESSORIES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Tadashi Sasaki in order to make most of his
experience in the subject line of business.
Susumu is the founder’s son, who took the office of presidency in Sept
2000. This is the core of Jun Group
firms (see REGISTRATION), comprising
of a total 10 companies. The subject is
a wholesaler and retailer specializing in clothing for men & women,
footwear, and other clothing accessories.
Retail shops are all in-shop stores in department stores, chain stores,
other, nationwide, covering from Hokkaido down to Okinawa. Total stores are 450, and about 30
franchisees. Goods are also sold
online. Also manages golf courses (2 in
Tochigi-Pref). Has a purchasing office
in Shanghai, China. Goods are
subcontracted mfg to domestic and overseas makers, and imported mainly through
general trading houses.
The sales volume for Sept/2012
fiscal term amounted to Yen 43,250 million, an 8% up from Yen 39,811 million in
the previous term. New stores
opened. The operations came back to
profitability except Yen 272 million recurring loss, with net profit posted at
Yen 306 million, compared with Yen 280 million recurring loss and Yen 309
million net losses, respectively, a year ago.
The firm wrote off accumulated extraordinary losses for the term.
For
the current term that ending Sept 2013 the recurring profit is projected to
post at Yen 280 million and the net profit at Yen 320 million, respectively, on
a 3% rise in turnover, to Yen 44,500 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Dec
1958
Regd No.: 0104-01-013678 (Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 200,000 shares
Issued: 52,000 shares
Sum: Yen 26 million
Major shareholders (%): Tadashi Sasaki (10), Jun &
Rope’ Entertainment (9), J.U.S (7)
No. of shareholders: 22
*.. Jun Group, founded 1958, in
the line of mfg clothing, construction and shop interior works, operation of
golf courses, restaurants, wineries, etc; with a total 10 firms in the group,
capital Yen 1,100 million, turnover Yen 57,900 million, group employees 2,685,
pres Susumu Sasaki, concurrently.
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Wholesaler and retailer specializing
in clothing, clothing materials, clothing accessories for men (15%) & women
(70%), operating a total of 450 in-shop stores and about 30 franchisees,
nationwide; operates two golf courses, others (15%).
(Typical brands handled): J&K, Adam et Rope’, ROPE’,
VIS, Optitude, Falkland, Gaminerie, pour la frime, JUNMEN, Pinceau, Jun Club,
other.
Clients: [Department stores, chain stores,
franchisees, consumers] Odakyu Department Store, Seibu Department Stores,
Marui, Tokyu Department Store, Hankyu Hanshin Department Stores, franchisees
(about 30), other.
Also in-shop stores at these
department stores, chain stores, etc.
No. of
accounts: 700 (wholesale div)
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsui & Co,
Toyota Tsusho Corp, Takisada Osaka, Itochu Corp, Takihyo, Marubeni Corp,
Takisada Nagoya, Tokyo Clothing, Mitsubishi Corp, Sumikin Bussan Corp, Makimura
Co, other.
Goods are imported from Europe,
China, USA, etc, mainly through general trading houses.
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank
References:
Resona
Bank (Shibuya)
SMBC
(Shibuya)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
Annual
Sales |
|
44,500 |
43,250 |
39,811 |
39,914 |
|
Recur.
Profit |
|
280 |
-272 |
-280 |
369 |
|
Net
Profit |
|
320 |
306 |
-309 |
130 |
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Total
Assets |
|
|
49,231 |
48,904 |
48,951 |
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Current
Assets |
|
|
17,391 |
16,636 |
15,584 |
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Current
Liabs |
|
|
5,896 |
5,857 |
5,550 |
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Net
Worth |
|
|
34,219 |
33,910 |
34,225 |
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Capital,
Paid-Up |
|
|
26 |
26 |
26 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.89 |
8.64 |
-0.26 |
-9.16 |
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Current Ratio |
|
.. |
294.96 |
284.04 |
280.79 |
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N.Worth Ratio |
.. |
69.51 |
69.34 |
69.92 |
|
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R.Profit/Sales |
|
0.63 |
-0.63 |
-0.70 |
0.92 |
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N.Profit/Sales |
0.72 |
0.71 |
-0.78 |
0.33 |
|
|
Return On Equity |
.. |
0.89 |
-0.91 |
0.38 |
|
Notes:
Forecast (or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
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 |
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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.