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Report Date : |
29.04.2014 |
IDENTIFICATION DETAILS
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Name : |
VINORUM CO LTD |
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Registered Office : |
10-19 Tomizawacho Chuoku Tokyo |
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Country : |
Japan |
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Financials (as on) : |
28.02.2014 |
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Date of Incorporation : |
November, 2000 |
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Com. Reg. No.: |
0100-01-112000 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
· Importer & wholesaler of Wines & Foodstuffs Subject Operates Two Wine Restaurants In Ginza &Tokyo |
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No. of Employees : |
17 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 |
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Risk Category |
ECGC
Classification |
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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.
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Source : CIA |
VINORUM CO LTD
REGD NAME: KK Vinorum
MAIN OFFICE: 1-15-4 Ginza Chuoku Tokyo 104-0061 JAPAN
Tel:
03-4592-1616
Fax: 03-4592-1617
*.. Registered at: 10-19 Tomizawacho Chuoku Tokyo
E-Mail address: (thru the URL)
· Importer & wholesaler of Wines & Foodstuffs
Subject
Operates Two Wine Restaurants In Ginza &Tokyo
Ginza (stores attached)
USA, France (--partners)
SHIGENARU UMEHARA, PRES
Hiroko Noda, ch
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,646 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 30 M
TREND SLOW WORTH Yen 102 M
STARTED 2000 EMPLOYES 17
TRADING FIRM FOR IMPORT OF WINES, FOODSTUFFS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
This is a trading firm for import and wholesale of wines, European
foods, other. Wines are imported from
France, USA, other. Operates two wine
restaurants in Ginza & Tokyo.
The sales volume for Feb/2013 fiscal term amounted to Yen 1,646 million,
a 9% down from Yen 1,818 million in the previous term. The recurring profit was posted at Yen 11
million and the net profit at Yen 8 million, respectively, compared with Yen
142 million recurring profit and Yen 21 million net profit, respectively, a
year ago.
For the term that ended Feb 2014 the recurring profit was projected at
Yen 35 million and the net profit at Yen 20 million, respectively, on a 6% rise
in turnover, to Yen 1,750 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Nov 2000
Regd No.: 0100-01-112000 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2,400 shares
Issued:
600 shares
Sum: Yen 30 million
Major shareholders
(%): Hiroko Noda (50), Shigenari Umehara (50)
No. of
shareholders: 2
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales wine, liquors, foodstuffs, other (--100%)
Operates two wine
restaurants in Ginza & Tokyo
Clients: [Mfrs,
wholesalers] Arom KK, Insolite, Nippon Sake Net, Wine Glossary, other.
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Deutz, California Terrors, Venus Wine, Aromes, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Shoko
Chukin Bank (Ikebukuro)
Mizuho
(Ginzadori)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
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Annual Sales |
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1,750 |
1,646 |
1,818 |
944 |
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Recur. Profit |
|
35 |
11 |
142 |
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Net Profit |
|
20 |
8 |
21 |
1 |
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Total Assets |
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|
1,129 |
1,255 |
1,001 |
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Current Assets |
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|
858 |
587 |
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Current Liabs |
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|
762 |
792 |
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Net Worth |
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|
102 |
93 |
71 |
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Capital, Paid-Up |
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30 |
30 |
30 |
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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 |
6.32 |
-9.46 |
92.58 |
-42.89 |
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Current Ratio |
|
.. |
112.60 |
74.12 |
.. |
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N.Worth Ratio |
.. |
9.03 |
7.41 |
7.09 |
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R.Profit/Sales |
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2.00 |
0.67 |
7.81 |
.. |
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N.Profit/Sales |
1.14 |
0.49 |
1.16 |
0.11 |
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Return On Equity |
.. |
7.84 |
22.58 |
1.41 |
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Notes: Forecast (or estimated) figures for the 28/02/2014 fiscal term.
Financial
Statement
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
28/02/2013 |
29/02/2012 |
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INCOME STATEMENT |
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Annual Sales |
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1,646 |
1,818 |
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Cost of Sales |
994 |
1,131 |
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GROSS PROFIT |
652 |
687 |
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Selling & Adm Costs |
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OPERATING PROFIT |
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Non-Operating P/L |
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RECURRING PROFIT |
11 |
42 |
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NET PROFIT |
8 |
21 |
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BALANCE SHEET |
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Cash |
|
130 |
124 |
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Receivables |
|
237 |
216 |
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Inventory |
|
419 |
307 |
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Securities, Marketable |
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Other Current Assets |
72 |
40 |
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TOTAL CURRENT ASSETS |
858 |
687 |
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Property & Equipment |
56 |
65 |
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Intangibles |
|
4 |
2 |
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Investments, Other Fixed Assets |
211 |
501 |
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TOTAL ASSETS |
1,129 |
1,255 |
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Payables |
|
171 |
275 |
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Short-Term Bank Loans |
377 |
344 |
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Other Current Liabs |
214 |
173 |
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TOTAL CURRENT LIABS |
762 |
792 |
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Debentures |
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Long-Term Bank Loans |
170 |
190 |
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Reserve for Retirement Allw |
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Other Debts |
|
95 |
180 |
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TOTAL LIABILITIES |
1,027 |
1,162 |
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MINORITY INTERESTS |
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Common
stock |
30 |
30 |
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Additional
paid-in capital |
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Retained
earnings |
72 |
63 |
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Evaluation
p/l on investments/securities |
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Others |
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0 |
0 |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
102 |
93 |
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TOTAL EQUITIES |
1,129 |
1,255 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.50 |
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|
1 |
Rs.101.69 |
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Euro |
1 |
Rs.83.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
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Report Prepared
by : |
MNL |
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.