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Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
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Name : |
MIKUNI WINE CO LTD |
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Registered Office : |
Hakushika Kayabacho Bldg 8F/9F, 1-17-18 Shinkawa Chuoku |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
December, 1999 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of wines |
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No. of Employees : |
61 |
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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Maximum Credit Limit: |
Yen 54.5 million |
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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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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.
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Source : CIA |
MIKUNI WINE CO LTD
Mikuni Wine KK
Hakushika Kayabacho Bldg 8F/9F, 1-17-18 Shinkawa Chuoku Tokyo 104-0033
JAPAN
Tel: 03-5542-3939 Fax: 03-5542-6392
URL: http://www.mikuniwine.co.jp/
E-Mail
address: mikuni-wine@mikuni-ccbc.co.jp
Import, wholesale of wines
Osaka, Okegawa, Nagoya, Fukuoka
MASAYUKI TAKAYANAGI, PRES
Minoru Maeda, dir Takeshi
Sakai, dir
Manabu Tada, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,000 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 300 M
TREND STEADY WORTH Yen 842 M
STARTED 1999 EMPLOYES 61
IMPORTER AND WHOLESALER SPECIALIZING IN WINES, WHOLLY OWNED BY MIKUNI COCA-COLA BOTTLING CO
LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 54.5 MILLION, 30 DAYS NORMAL TERMS.
The subject company was established originally in 1985 as
Wine Import Division by Mikuni Coca-Cola Bottling Co Ltd, at the caption
address (see REGISTRATION) for
importing wines from France, and in 1999 separated and incorporated as
independent entity, Mikuni Wine Co Ltd.
Now import sources cover about 15 countries (wine producers), such as
France, Germany, Italy, Spain, Portugal, Chile, Australia, USA, etc. Goods are shipped to department stores, chain
stores, liquor wholesalers, other, nationwide.
Imports are handled by Mitsui & Co, leading general trading house of
Japan and majority shareholder of the parent, Mikuni Coca-Cola Bottling Co
Ltd. Mitsui & Co supplies all the
goods & materials for Mikuni Coca-Cola, too.
The sales volume for Dec/2012 fiscal term amounted to Yen
3,000 million, an 11% up from Yen 2,710 million in the previous term. Demand increased for imported wines;
particularly Bourgogne red wines which the firm first started imports in 2004
were most widely distributed nationwide.
The net profit was posted at Yen 140 million, compared with Yen 61
million a year ago.
For the current term ending Dec 2013 the net profit is
projected at Yen 150 million, on a 7% rise in turnover, to Yen 3,200
million. Popularity for red wines will
continue.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 54.5 million, on 30 days normal terms.
Date
Registered: Dec 1999
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 24,000 shares
Issued:
6,000 shares
Sum: Yen
300 million
Major
shareholders (%): Mikuni
Coca-Cola Bottling Co Ltd*(100)
*.. One of leading Coca-Cola bottling companies in Japan, at
the caption address, founded 1963,
listed Tokyo S/E, capital Yen 5,407 million, sales Yen 121,731 million, operating profit Yen 3,505 million, recurring
profit Yen 3,662 million, net profit Yen 1,861 million, total assets Yen 81,033
million, net worth Yen 65,906 million, employees 1,713, pres Calin Dragan.
Nothing detrimental is known as to the commercial morality
of executives.
Activities: Imports and wholesales
wines, whiskies, liqueur, other liquor (--100%).
Brands handled (few examples):
France: Joseph Drouhin,
Billecart-Salmon, BruMont, Michel Guerard;
Germany: Dr. Loosen, Langguth;
Italy: Cecchi, Cordici,
Teruzzi & Ruthod, Fuligni, Lugi Einandi, A-Mano;
Spain: Roger Goulart;
Portugal: Exporao, Smith Woodhouse;
USA: Domaine Drouhin,
Marimar Torres, Hedges;
Chile: Miguel Torres, Casa
Donoso;
South
Africa: Vergelen,
Boschendal, JC LeRoux;
Australia: Cumulus, Jindalee.
Clients:
[Department stores, wholesalers] Nihon Shurui Hambai (Shurui means alcoholic drinks), KK Masuki, Nisshoku Co, Hiroya
Kokubu Co, Daishuhan KK, Kokubu Ltd, Mitsui
Foods, Mitsubishi Shokuhin Co, Itochu-Shokuhin Co, Jupiter
Coffee, other.
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers:
[Negociants, wholesalers] Roger Goulant (30%), Maison Joseph Drouhin, Miguel
Torres (each 10%), other
Imports from France, Germany, Italy, Spain, Portugal, USA,
Chile, South Africa, Australia, other of total 15 countries, through Mitsui
& Co.
Payment
record: No Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank
References:
SMBC (Ohmiya)
Towa Bank (Okegawa)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
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Annual Sales |
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3,200 |
3,000 |
2,710 |
2,622 |
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Recur. Profit |
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|
42 |
127 |
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Net Profit |
|
150 |
140 |
61 |
70 |
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Total Assets |
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2,884 |
2,375 |
2,334 |
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Current Assets |
|
|
2,220 |
1,770 |
1,709 |
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Current Liabs |
|
|
1,080 |
1,089 |
516 |
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Net Worth |
|
|
842 |
704 |
628 |
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Capital, Paid-Up |
|
|
300 |
300 |
300 |
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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 |
6.67 |
10.70 |
3.36 |
1.20 |
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Current Ratio |
|
.. |
205.56 |
162.53 |
331.20 |
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N.Worth Ratio |
.. |
29.20 |
29.64 |
26.91 |
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R.Profit/Sales |
|
.. |
.. |
1.55 |
4.84 |
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N.Profit/Sales |
4.69 |
4.67 |
2.25 |
2.67 |
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Return On Equity |
.. |
16.63 |
8.66 |
11.15 |
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Notes: Forecast (or estimated) figures for 31/12/2013 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.83.80 |
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Euro |
1 |
Rs.70.49 |
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.