|
Report Date : |
21.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
COSTCO WHOLESALE KOREA, LTD. |
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|
|
|
Registered Office : |
163-3, Iljik-dong, Gwangmyeong-si, |
|
|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.08.2012 |
|
|
|
|
Date of Incorporation : |
26.05.1998 |
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|
|
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Com. Reg. No.: |
107-81-63829 |
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|
|
|
Legal Form : |
Co., Ltd by shares |
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|
|
|
Line of Business : |
Subject is engaged in Retail sale in other non-specialized
large stores. |
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|
|
|
No. of Employees : |
3,461 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Source
: CIA
Basic
|
Company Name |
COSTCO WHOLESALE KOREA, LTD. (Korean Company Name : “(주)코스트코코리아”) |
|
Registered
Address |
163-3, Iljik-dong, Gwangmyeong-si, |
|
Zip Code |
423-090 |
|
Tel |
+82-2-2630-2800 |
|
Fax |
+82-2-2630-2633 |
|
E-mail |
djjoo@costcokr.com |
|
Website |
www.costco.co.kr |
|
Trading Address |
163-3, Iljik-dong, Gwangmyeong-si, (New Address System : 40, Iljik-ro, Gwangmyeong-si, |
|
Tel |
+82-2-2679-1234 |
|
Fax |
+82-2-2630-2633 |
|
Other Address-Daejeon Branch |
116-3, Oryu-dong, Jung-gu, |
|
Tel |
+82-42-539-1234 |
|
Fax |
+82-2-539-1090 |
|
Other Address-Daegu Branch |
1817, Sangyeok 2-dong, Buk-gu, |
|
Tel |
+82-53-380-1234 |
|
Fax |
+82-53-380-1090 |
|
Other Address-Yangje Branch |
217, Yangjae 2-dong, Seocho-gu, , |
|
Tel |
+82-2-572-5959 |
|
Fax |
|
|
Other Address-Sangbong Branch |
81, Sangbong 2-dong, Jungnang-gu, , |
|
Tel |
+82-2-439-1144 |
|
Fax |
+82-2-439-1188 |
|
Other Address-Ilsan Branch |
1312, Baekseok-dong,
Ilsandong-gu, Goyang-si, |
|
Tel |
+82-31-904-3300 |
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Retail |
|
Main Business |
Large Sized Discount Store Operation |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
05/26/1998 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Distribution(80141700) |
|
Sell |
Furniture(56101500) |
|
Sell |
Food Beverage and Tobacco Products(50000000) |
|
Sell |
Domestic Appliances and Supplies and Consumer Electronic Products(52000000) |
CEO’s
|
Name |
|
|
Address |
65, Yangpyeong-dong
3-ga, Yeongdeungpo-gu, |
|
Date of Birth |
09/19/1951 |
|
Title |
President
& CEO |
|
Sex |
Male |
|
Nationality |
|
Profiles
|
Capital (KRW) |
264,115,000,000 |
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Employees |
3,461 |
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Formation |
Co., Ltd by shares Foreign Direct Investment Corporation |
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Bank Details |
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Corporate
Registered No. |
110111-1549728 |
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Business
Registered No. |
107-81-63829 |
||||||||||||
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Permit &
Licenses |
Int’l Trade No.: 11528515 |
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Shareholder
Position |
|
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|
Company
History |
05/26/1998
Incorporated as the present name 11/20/2000
Increased the authorized shares to 5,000,000 shares from 2,400,000 shares 08/11/2001
Increased capital to 264,115,000,000 KRW from 249,115,000,000 KRW 06/18/1998 Registered as a Foreign Direct Investment Corporation 01/02/2013 Moved to the present HQ address from 65,
Yangpyeongdong 3-ga, Yeongdeungpo-gu, |
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Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President & CEO |
Mr. |
|
Male |
|
10/05/2006 |
|
Director |
Mr. |
James P.
Murphy |
Male |
|
09/03/2004 |
|
Director |
Mr. |
W Klaig
Jellinek |
Male |
|
06/16/2010 |
|
Director |
Mr. |
Kimberly L.
Showmel |
Male |
|
11/28/2007 |
|
Director |
Mr. |
Hur In-Cheol |
Male |
|
06/13/2008 |
|
Auditor |
Mr. |
Delani
Fregnoli |
Male |
|
11/24/2006 |
Financials
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
2,289,957,575,315 |
925,899,623,374 |
110,153,089,518 |
|
|
08/2011 |
2,086,307,233,417 |
792,965,729,428 |
103,406,309,252 |
|
08/2010 |
1,578,845,947,220 |
639,389,968,500 |
68,566,493,211 |
|
08/2009 |
1,217,267,591,985 |
523,847,112,642 |
41,312,784,056 |
|
08/2008 |
1,015,686,954,447 |
470,665,262,360 |
37,314,691,919 |
|
08/2007 |
767,308,481,467 |
405,498,195,828 |
27,081,253,135 |
|
08/2006 |
621,677,116,349 |
357,619,279,234 |
18,550,183,414 |
|
08/2005 |
511,378,614,467 |
321,926,683,676 |
10,161,353,218 |
|
08/2004 |
447,976,758,722 |
301,711,456,400 |
7,061,013,312 |
Financial Description
|
Authorized
Capital(KRW) |
500,000,000,000 |
|
Paid-Up
Capital(KRW) |
264,115,000,000 |
|
Total Issued
Shares |
2,641,150 |
|
Unit : Korean Won |
As of 08/31/2012 |
As of 08/31/2011 |
As of 0831/2010 |
|
Total Assets |
925,899,623,374 |
792,965,729,428 |
639,389,968,500 |
|
Current Assets |
579,834,293,925 |
493,271,838,914 |
341,659,571,708 |
|
-Quick Assets |
392,396,498,800 |
345,617,253,255 |
211,116,077,864 |
|
-Inventories |
187,437,795,125 |
147,654,585,659 |
130,543,493,844 |
|
Fixed Assets |
346,065,329,449 |
299,693,890,514 |
297,730,396,792 |
|
-Investment |
2,856,751,546 |
- |
|
|
-Tangibles |
228,386,202,932 |
187,527,992,533 |
185,774,222,023 |
|
-Intangibles |
114,822,374,971 |
112,165,897,981 |
111,956,174,769 |
|
Total Liabilities |
249,618,407,063 |
226,837,602,635 |
176,668,150,959 |
|
Current
Liabilities |
247,132,077,155 |
225,356,047,415 |
175,234,371,685 |
|
Fixed
Liabilities |
2,486,329,908 |
1,481,555,220 |
1,433,779,274 |
|
Capital Stock |
264,115,000,000 |
264,115,000,000 |
264,115,000,000 |
|
Capital
Surplus |
|
|
|
|
Profit Surplus |
412,166,216,311 |
302,013,126,793 |
198,606,817,541 |
|
Capital
Adjustment |
|
|
|
|
Total Equity |
676,281,216,311 |
566,128,126,793 |
462,721,817,541 |
|
Liab. & Shareholder’s
Equity |
925,899,623,374 |
792,965,729,428 |
639,389,968,500 |
|
Current Liabilities |
247,132,077,155 |
225,356,047,415 |
175,234,371,685 |
|
Trade Payables |
165,517,914,962 |
148,881,457,150 |
115,632,976,812 |
|
Account Payables |
13,391,451,412 |
4,606,494,575 |
3,789,099,653 |
|
Accrued Expenses |
24,415,060,705 |
23,869,998,346 |
19,254,975,337 |
|
Advance Receipts |
896,473,641 |
914,446,895 |
750,171,351 |
|
Unearned Income |
17,836,453,595 |
16,246,686,990 |
13,254,585,733 |
|
Withholdings |
694,991,273 |
851,568,737 |
628,521,582 |
|
Withholdings-Merchandise Coupon |
2,572,610,000 |
1,813,720,000 |
1,105,710,000 |
|
VAT Withhold |
- |
4,446,055,597 |
3,018,112,888 |
|
Derivatives |
1,124,879,095 |
319,861,397 |
549,728,810 |
|
Provisions for Refund |
1,245,579,758 |
800,465,061 |
592,957,407 |
|
Accrued Income Tax |
19,436,662,714 |
22,605,292,667 |
16,657,532,112 |
|
Fixed
Liabilities |
2,486,329,908 |
1,481,555,220 |
1,433,779,274 |
|
Guarantee Deposit Withhold |
40,000,000 |
40,000,000 |
40,000,000 |
|
Provision for Repairing |
2,446,329,908 |
1,441,555,220 |
1,393,779,274 |
|
Unit : Korean Won |
As of 08/31/2012 |
As of 08/31/2011 |
As of 0831/2010 |
|
Sales |
2,289,957,575,315 |
2,086,307,233,417 |
1,578,845,947,220 |
|
Cost of Sold
Goods |
1,994,883,149,259 |
1,814,493,530,095 |
1,370,837,736,679 |
|
Gross Profit |
295,074,426,056 |
271,813,703,322 |
208,008,210,541 |
|
Selling &
Admin. Expenses |
158,565,146,676 |
140,994,030,830 |
121,593,839,458 |
|
Operating
Income |
136,509,279,380 |
130,819,672,492 |
86,414,371,083 |
|
Non-Operating
Income |
27,660,432,417 |
22,417,457,904 |
15,304,292,315 |
|
Non-Operating
Expenses |
19,023,017,226 |
16,847,777,093 |
11,525,068,328 |
|
Income Before
Taxes |
145,146,694,571 |
136,389,353,303 |
90,193,595,070 |
|
Income Taxes
Expenses |
34,993,605,053 |
32,983,044,051 |
21,627,101,859 |
|
Net Income |
110,153,089,518 |
103,406,309,252 |
68,566,493,211 |
|
Unit : Korean
Won |
As of
08/31/2012 |
As of
08/31/2011 |
As of
0831/2010 |
|
Cash Flows
from Operating |
102,535,068,821 |
139,283,209,087 |
102,709,362,930 |
|
-Net Income |
110,153,089,518 |
103,406,309,252 |
68,566,493,211 |
|
-Exp. without
Cash Outflow |
14,213,695,706 |
10,708,058,592 |
19,153,101,380 |
|
-Revenue
without Cash Inflows |
-4,460,228,727 |
-3,927,542,855 |
-2,485,946,794 |
|
-Changes in
Asset/ & Liability |
-17,371,487,676 |
29,096,384,098 |
17,475,715,133 |
|
Cash Flows
from Investing |
107,941,798,048 |
-130,232,373,647 |
-148,687,430,576 |
|
-Cash Inflow
from Investing |
597,042,546,968 |
152,034,645,000 |
57,555,280,362 |
|
-Cash Outflows
for Investing |
-489,100,748,920 |
-282,267,018,647 |
-206,242,710,938 |
|
Cash Flows
from Financing |
- |
- |
- |
|
-Cash Inflows
from Financing |
- |
- |
- |
|
-Cash Outflows
from Financing |
- |
- |
- |
|
Increase/Decrease
in Cash |
210,476,866,869 |
9,050,835,440 |
-45,978,067,646 |
|
Cash at the
Beginning of Year |
53,150,662,556 |
44,099,827,116 |
90,077,894,762 |
|
Cash at the
End of Year |
263,627,529,425 |
53,150,662,556 |
44,099,827,116 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Large Sized Discount Store Operation There are 8 branches in |
Trade Partners &
Competitors
|
Suppliers |
COSTCO
WHOLESALE INTERNATIONAL INC. |
|
Customers |
COSTCO
WHOLESALE COSTCO
WHOLESALE |
|
Competitors |
HOMEPLUS TESCO
CO., LTD. 592,
TANBANG-DONG, SEO-GU, TEL:+82-42-488-8351~6 FAX:+82-42-488-8360 E-MART CO., LTD. 333-16,
SEONGSU 2-GA 1-DONG, SEONGDONG-GU, TEL:+82-2-380-9238 FAX:+82-2-380-9339 E-LAND WORLD
CO., LTD. E-LAND BLDG.,
19-8, CHANGJEON-DONG, MAPO-GU, TEL:+82-2-323-0456 FAX:+82-2-332-6445 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
COSTCO
WHOLESALE CORPORATION COSTCO
WHOLESALE INTERNATIONAL INC. COSTCO WHOLESALE UK LTD. COSTCO WHOLESALE JAPAN LTD. COSTCO WHOLESALE TAIWAN LTD. COSTCO WHOLESALE AUSTRALIA PTY
LTD. |
|
Corporate
Ownership |
COSTCO
WHOLESALE CORPORATION COSTCO
WHOLESALE INTERNATIONAL INC. |
|
Major
Shareholders |
COSTCO
WHOLESALE INTERNATIONAL INC. |
|
Cooperative |
-Insured
Company DONGBU INSURANCE CO., LTD(110111-0095285) SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) - License and Training Agreement with COSTCO
WHOLESALE INTERNATIONAL INC. |
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.28 |
|
|
1 |
Rs.99.03 |
|
Euro |
1 |
Rs.83.80 |
INFORMATION DETAILS
|
Report
Prepared by : |
|
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.