|
Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAPPORO BREWERIES LTD |
|
|
|
|
Registered Office : |
Ebisu Garden Place Tower, 4-20-1 Ebisu
Shibuyaku Tokyo 150-8686 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
July 2003 |
|
|
|
|
Com. Reg. No.: |
0110-01-040690 (Tokyo-Shibuya) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Beer brewery, whisky, wine, happoshu, shochu |
|
|
|
|
No. of Employees : |
2,221 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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 |
SAPPORO BREWERIES LTD
Sapporo Beer KK
Ebisu Garden Place
Tower, 4-20-1 Ebisu Shibuyaku Tokyo 150-8686 JAPAN
Tel:
03-5475-8050 Fax: 03-5475-8051
URL: http://www.sapporobeer.jp
E-Mail address: (thru the URL)
Beer
brewery, whisky, wine, happoshu, shochu, other
Sapporo,
Sendai, Osaka, Hiroshima, Fukuoka
Sapporo,
Sendai, Nasu, Gunma, Chiba, Shizuoka, Oita
MASAKI OGA, PRES Seiichiro
Ichikawa, mgn dir
Takafumi Sugigaki, dir Junji
Watari, dir
Yasuyuki Ohira, dir Hiroshi Tokimatsu, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 270,137 M
PAYMENTSREGULAR CAPITAL Yen
10,000 M
TREND UP WORTH Yen 40,443 M
STARTED 2003 EMPLOYES 2,221
BEER BREWERY.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1949 as Ebisu Brewery
Co and later merged with Dainippon Beer and renamed as captioned. In July 2003 formed a holding company,
Sapporo Holdings Ltd and delisted and became its subsidiary together with group
firms, including Sapporo Lion Ltd, Sapporo Wines Ltd, Sapporo Beverage Co,
other. The subject makes beer, wines
& spirits, shochu, other. Group
firms make soft drinks, Pokka, other.
Operates beer restaurants nationwide.
The sales volume for Dec/2012 fiscal term amounted to Yen 270,137
million, a 3% up from Yen 263,173 million in the previous term. The recurring profit was posted at Yen 4,795
million and the net profit at Yen 2,212 million, respectively, compared with
Yen 6,487 million recurring profit and Yen 458 million net profit,
respectively, a year ago.
For the current term ending Dec 2013 the recurring profit is projected at
Yen 4,800 million and the net profit at Yen 2,300 million, respectively, on a
3% rise in turnover, to Yen 278,000 million.
Domestic beer sales are strong.
Low or non alcoholic beverages are increasing. The firm’s Black Label is selling well.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: July
2003
Regd No.: 0110-01-040690 (Tokyo-Shibuya)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued:
200,000 shares
Sum: Yen 10,000 million
Major shareholders (%): Sapporo Holdings Ltd* (100)
*.. Holding firm of Sapporo group firms, founded 2003, listed Tokyo S/E,
capital Yen
53,886 million, sales Yen 492,490 million, operating profit Yen 14,414
million, recurring
profit Yen 13,689 million, net profit Yen 5,191 million, total assets
Yen 584,583 million, net worth Yen 131,639 million, employees 7,264, pres
Tsutomu Kamijo
Nothing detrimental is known as to the commercial morality of executives.
Activities: Beer brewery:
international alcoholic beverages (59%), international alcoholic beverages
(6%), beverages (8%), Pokka Group (soft drinks) (17%), restaurants (5%), others
(3%) (All the group sales), wines are also imported.
Clients:
[Mfrs, wholesalers] Ryoshoku Liquor, Kokubu Co, Mitsui Foods, Itochu Foods,
Nihon Shurui Hambai Co, Osawaya Co, other
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Marubeni Corp, Showa Denko, Daiwa Can Co, Dainippon Printing, Rengo Co Ltd,
Sapporo Wine, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Mizuho Corporate Bank (Ohtemachi)
MUFG (Shimbashi)
Relations: Satisfactory
(In
Million Yen)
|
Terms
Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual Sales |
|
278,000 |
270,137 |
263,173 |
274,386 |
|
Recur. Profit |
|
4,800 |
4,795 |
6,487 |
6,512 |
|
Net Profit |
|
2,300 |
2,212 |
458 |
10,860 |
|
Total
Assets |
|
|
201,708 |
210,945 |
220,667 |
|
Current
Assets |
|
|
74,617 |
74,532 |
73,086 |
|
Current
Liabs |
|
|
101,683 |
116,017 |
151,143 |
|
Net
Worth |
|
|
40,443 |
36,350 |
36,574 |
|
Capital,
Paid-Up |
|
|
10,000 |
10,000 |
10,000 |
|
Div.P.Share(¥) |
|
|
7.00 |
7.00 |
7.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.91 |
2.65 |
-4.09 |
-1.50 |
|
|
Current Ratio |
|
.. |
73.38 |
64.24 |
48.36 |
|
N.Worth Ratio |
.. |
20.05 |
17.23 |
16.57 |
|
|
R.Profit/Sales |
|
1.73 |
1.78 |
2.46 |
2.37 |
|
N.Profit/Sales |
0.83 |
0.82 |
0.17 |
3.96 |
|
|
Return On Equity |
.. |
5.47 |
1.26 |
29.69 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.67 |
|
UK Pound |
1 |
Rs.102.20 |
|
Euro |
1 |
Rs.87.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.