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Report Date : |
18.11.2013 |
IDENTIFICATION DETAILS
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Name : |
GILT GROUPE KK |
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Registered Office : |
KN Bldg 7F, 1-15-6 Ginza Chuoku Tokyo 104-0041 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
October, 2008 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Online shop operator of apparel, accessories, living furniture |
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No. of Employees : |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
Yen 59.0 million |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
|
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 |
GILT
GROUPE KK
REGD
NAME: Gilt Groupe KK
MAIN
OFFICE: KN Bldg 7F, 1-15-6 Ginza Chuoku
Tokyo 104-0041 Japan
Tel: 03-4588-9412
URL: http//:www.gilt.jp
E-mail: (thru
the URL)
Online shop operator of apparel,
accessories, living furniture
Kotoku (Studio), Kawasaki
(warehouse)
JOANNA DUBIN, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,374 M
PAYMENTS UNKNOWN CAPITAL Yen 716 M
TREND UP WORTH Yen (-) 892 M
STARTED 2008 EMPLOYES 60
ONLINE SHOP OPERATOR OF APPAREL,
ACCESSORIES, OTHER FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 59.0
MILLION, 30 DAYS NORMAL TERMS
The subject company was
established by Gilt Groupe Inc (USA) as its marketing arm in Japan. In 2011, accepted the capital investment from
SoftBank Corp. This is an online shop operator
specializing in apparel, jewelry & accessories, living furniture,
other. Handles foreign brands of
clothing & apparel, and imported.
Financials are only partially disclosed.
The sales volume for Jun/2012 fiscal term amounted to Yen
3,374 million, a 30% up from Yen 2,600 million in the previous term. This is the result of the participation of
SoftBank Corp, as mentioned, and sales rose.
The operations, however, plunged into the red to post Yen 790 million
net losses for the term, compared with Yen 300 million net profit a year
ago. .
For the term that ended Jun 2013 the operations were
projected to come back to profitability but still limited to a minimum amount
post-taxes, on a 4% rise in turnover, to Yen 3,500 million. Final results are yet to be released.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 59.0 million, on 30 days normal
terms.
Date Registered:
Oct 2008
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
14,336 shares
Issued: 16,336
shares
Sum: Yen
716,806 million
Major shareholders (%): Gilt Groupe Inc (USA) (51),
SoftBank Corp* (49)
No. of shareholders: 2
*.. Holding company, PC
software, mobile phones, Tokyo, founded 1981, listed Tokyo S/E, capital Yen
238,772 million, sales Yen 3,378,365 million, operating profit Yen 745,000
million, recurring profit Yen 653,214 million, net profit Yen 289,403 million,
total assets Yen 8,368,677 million, net worth Yen 1,904,727 million, employees
24,598, pres Masayoshi Son
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Online shop operator: apparel/wear
for men/women/children (70%), jewelry & accessories (20%), living
furniture, others (10%).
Clients: Online shop customers
No. of accounts: Unavailable
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Imports overseas
brands goods, other,
Payment record: Unknown
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References:
MUFG (Shibuya)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
|
Annual
Sales |
3,500 |
3,374 |
2,600 |
|
|
Recur.
Profit |
.. |
-773 |
.. |
|
|
Net
Profit |
0 |
-790 |
300 |
|
|
Total
Assets |
776 |
N/A |
||
|
Net
Worth |
-892 |
102 |
||
|
Capital,
Paid-Up |
716 |
716 |
||
|
Div.P.Share(¥) |
0.00 |
0.00 |
||
|
<Analytical Data> |
(%) |
(%) |
(%) |
|
|
S.Growth
Rate |
3.73 |
29.77 |
4.00 |
|
|
Current
Ratio |
-22.91 |
.. |
||
|
N.Worth
Ratio |
-114.95 |
.. |
||
|
N.Profit/Sales |
0.00 |
-23.41 |
11.54 |
|
Notes: Financials are only
partially disclosed for above terms only.
Forecast (or estimated) figures
for the 30/06/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
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.