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Report Date : |
23.04.2014 |
IDENTIFICATION DETAILS
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Name : |
SEIYU PROCUREMENT LTD |
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Registered Office : |
Seiyu Akabane Honkan 5F, 2-1-1 Akabane Kitaku Tokyo 115-0045 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
November, 2005 |
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Com. Reg. No.: |
(Tokyo-Kitaku) 011430 |
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Legal Form : |
Liability Limited Company (Godo Kaisha) |
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Line of Business : |
Import, wholesale of supermarket commodities |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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. Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has overturned his predecessor's plan to
permanently close nuclear power plants and is pursuing an economic revitalization
agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined
the Trans Pacific Partnership negotiations in 2013, a pact that would open
Japan's economy to increased foreign competition and create new export
opportunities for Japanese businesses. Measured on a purchasing power parity
(PPP) basis that adjusts for price differences, Japan in 2013 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 is exceeding 230% of GDP. To
help raise government revenue and reduce public debt, Japan decided in 2013 to
gradually increase the consumption tax to a total of 10% by the year 2015.
Japan is making progress on ending deflation due to a weaker yen and higher
energy costs, but reliance on exports to drive growth and an aging, shrinking
population pose other major long-term challenges for the economy.
|
Source
: CIA |
SEIYU PROCUREMENT
LTD
REGD NAME: KK Seiyu Procurement
MAIN OFFICE: Seiyu Akabane Honkan 5F, 2-1-1 Akabane Kitaku
Tokyo 115-0045 JAPAN
Tel:
03-3598-2119
Fax: 03-3598-2126
URL: http://www.seiyu.co.jp (of the parent,
Seiyu GK)
E-Mail address: (thru the URL)
Import, wholesale of supermarket commodities
Nil
JOHN WELLING, PRES
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 32,500 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 400 M
TREND SLOW WORTH Yen 2,188 M
STARTED 2005 EMPLOYES 5
TRADING FIRM SPECIALIZING IN SUPERMARKETS COMMODITIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established on the basis of procurement division
separated from Seiyu GK, supermarket chain operator, at the caption address
(See REGISTRATION). This is a trading firm, procurement division
of Seiyu GK, for importing and wholesaling foodstuffs, clothing, household
utensils, and general merchandise, others for exclusive supply to the
parent.
The firm does not disclose sales figures except all other items in
financial statements, and the following figures have been estimated by outside
sources.
The sales volume for Dec/2013 fiscal term is estimated amounted to Yen
26,000 million, a 4% down from Yen 27,000 million in the previous term, as
affected by the high Yen, reducing revenues in Yen terms. The net profit was posted at Yen 124 million,
compared with Yen 126 million a year ago.
Net profits are disclosed.
For the current term ending Dec 2014 the net profit is projected at Yen
130 million, on a 6% rise in turnover, to Yen 27,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Nov 2005
Regd No.: (Tokyo-Kitaku) 011430
Legal Status:
Liability Limited Company (Godo Kaisha)
Authorized:
32,000 shares
Issued:
8,000 shares
Sum: Yen 400 million
Major shareholders
(%): Seiyu GK* (100)
*.. Supermarket chain operator,
at the caption address, owned by Wal-Mart Japan Holdings, operating 372 chain
stores nationwide, founded Apr 1963, capital Yen 100 million, sales Yen 685,035
million, net losses Yen 14,653 million, total assets Yen 598,840 million (all
the figures as at Dec/2005 fiscal term figures, otherwise not disclosed)
million, employees 17,916 (including part-timers), pres Steve Dacus
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales foodstuffs, apparel & accessories, household utensils, living
fashion, garments, daily necessities, general merchandise, others (--100%).
Goods are wholly supplied to the parent, Seiyu GK.
Clients: [Supermarket]
Seiyu GK (100%)
No. of accounts: 1 (372
chain stores)
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Suntory Foods, Nichirei Foods, Nippon Milk Community, Asahi
Shokuhin Kogyo, Yonekyu Co, Ito En Ltd, Toho Lamac Co, Wahei Sangyo, Roy-Ne Co,
Itochu Corp, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are owned by the parent, Seiyu GK, and maintained satisfactorily.
Bank References:
Mizuho Bank
(Ikebukuro)
Relations:
Satisfactory
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Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
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Annual Sales |
|
27,500 |
26,000 |
27,000 |
33,000 |
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Recur. Profit |
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Net Profit |
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130 |
124 |
126 |
155 |
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Total Assets |
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|
8,038 |
7,483 |
8,263 |
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Current Assets |
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|
7,952 |
7,394 |
8,203 |
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Current Liabs |
|
|
5,841 |
5,419 |
6,325 |
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Net Worth |
|
|
2,188 |
2,063 |
1,937 |
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Capital, Paid-Up |
|
|
400 |
400 |
400 |
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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 |
5.77 |
-3.70 |
-18.18 |
-11.76 |
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Current Ratio |
.. |
136.14 |
136.45 |
129.69 |
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N.Worth Ratio |
.. |
27.22 |
27.57 |
23.44 |
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R.Profit/Sales |
.. |
.. |
.. |
.. |
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N.Profit/Sales |
0.47 |
0.48 |
0.47 |
0.47 |
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Return On Equity |
.. |
5.67 |
6.11 |
8.00 |
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Notes: The sales figures are estimated only as not disclosed. Profits are disclosed
Forecast (or estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.71 |
|
|
1 |
Rs.102.04 |
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Euro |
1 |
Rs.83.77 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
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.