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Report Date : |
01.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
KINOKUNIYA COMPANY LTD |
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Registered Office : |
3-7-10 Shimomeguro Meguroku Tokyo 153-0064 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2012 |
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Date of Incorporation : |
January, 1946 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Book store operator |
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No. of Employees : |
1,000 |
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 |
|
Maximum Credit Limit: |
Yen 1,817.2 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) |
|
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 |
KINOKUNIYA
COMPANY LTD
KK Kinokuniya Shoten
3-7-10 Shimomeguro Meguroku Tokyo 153-0064
JAPAN
Tel: 03-6910-0502 Fax: 03-6420-2350
*.. Registered at: 3-17-7 Shinjuku
Shinjukuku Tokyo
URL: http://www.kinokuniya.co.jp
E-Mail address: (thru the URL)
Book store operator
64 stores nationwide; 24 stores overseas
USA (7), Singapore (4), Indonesia (3),
Malaysia, Australia, Taiwan (5), Dubai
Shinjuku, Shibuya
Masashi Takai, pres Tsutomu Yamamoto, v pres
Masahiro Nakae, s/mgn dir Osamu Kawajiri, s/mgn dir
Masahiro Ichikawa, s/mgn dir Shigeru Fujishima, mgn dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen
108,191 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 36 M
TREND SLOW WORTH Yen 16,586 M
STARTED 1946 EMPLOYES 1,000
BOOK STORE OPERATOR.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 1,817.2 MILLION, 30
DAYS NORMAL TERMS
This is a book store operator started
originally in 1927 and was incorporated in 1946. Operates 64 stores nationwide, and 24 stores
overseas. Sells books, magazines,
CD-ROMs, audio visual software, stationery, other (See OPERATION). Books/magazines
are imported and exported. Also operates
theater and hall in Tokyo. Clients
include universities, educational institutions, governments, municipal offices,
libraries, other.
The sales volume for Aug/2012 fiscal term amounted
to Yen 108,191 million, a 1% down from Yen 109,807 million in the previous
term. The recurring profit was posted at
Yen 820 million and the net profit at Yen 503 million, respectively, compared
with Yen 430 million recurring profit and Yen 329 million net profit,
respectively, a year ago.
For the term that ended Aug 2013 the
recurring profit was projected at Yen 830 million and the net profit at Yen 510
million, respectively, on a 2% rise in turnover, to Yen 110,500 million. Final results are yet to be released.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 1,817.2 million, on 30 days normal
terms.
Date
Registered: Jan 1946
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 288,000 shares
Issued:
72,000 shares
Sum:
Yen
36 million
Major shareholders
(%): MUFG, Mizuho Bank, Tokio
Marine & Nichido Life Ins, Nippan, Tohan Co, other (breakdown unavailable)
No.
of shareholders: 124
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Book store
operator, operating 64 stores nationwide and 24 overseas, books are imported
and exported, operates hall/theater, other (--100%)
(Books
handled/sold): Japanese/foreign books, journals (including electronic journals),
magazines, CD-ROMs, audio visual software, stationery, educational &
library equipment/systems, electronic information services, publishing,
production of audio visual software; production of bibliographic databases,
management theaters and art gallery, other
Clients: Consumers (55%),
public libraries, universities, educational institutions, municipal offices,
governments, research institutes, laboratories, business firms, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nippon Shuppan Hambai Inc (Nippan), Tohan Co, Nikkyohan Co,
Osakaya Co, other
Imports foreign books/magazines from
overseas
Payment
record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
MUFG (Shinjuku-Chuo)
Mizuho Bank (Shinjuku)
Relations: ^Satisfactory
(In Million Yen)
|
Terms Ending: |
31/08/2013 |
31/08/2012 |
31/08/2011 |
31/08/2010 |
|
|
Annual
Sales |
|
110,500 |
108,191 |
109,807 |
112,999 |
|
Recur.
Profit |
|
830 |
820 |
430 |
|
|
Net
Profit |
|
510 |
503 |
329 |
200 |
|
Total
Assets |
|
|
65,418 |
68,334 |
68,952 |
|
Current
Assets |
|
|
40,995 |
42,646 |
|
|
Current
Liabs |
|
|
35,775 |
42,764 |
|
|
Net
Worth |
|
|
16,586 |
16,200 |
15,089 |
|
Capital,
Paid-Up |
|
|
36 |
36 |
36 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth
Rate |
2.13 |
-1.47 |
-2.82 |
-1.32 |
|
|
Current
Ratio |
|
.. |
114.59 |
99.72 |
.. |
|
N.Worth
Ratio |
.. |
25.35 |
23.71 |
21.88 |
|
|
R.Profit/Sales |
|
0.75 |
0.76 |
0.39 |
.. |
|
N.Profit/Sales |
0.46 |
0.46 |
0.30 |
0.18 |
|
|
Return
On Equity |
.. |
3.03 |
2.03 |
1.33 |
|
Notes: Forecast (or estimated) figures for
the 31/08/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.78 |
|
|
1 |
Rs.101.42 |
|
Euro |
1 |
Rs.84.67 |
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 |
|
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.