|
Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
MERCIAN CORPORATION |
|
|
|
|
Registered Office : |
4-10-2 Nakano
Nakanoku Tokyo164-0001 |
|
|
|
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Country : |
Japan |
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|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
December 1934 |
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|
|
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Com. Reg. No.: |
0100-01-034939
(Tokyo-Nakanoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
· Manufacturer of Mercian wines, other alcoholic beverages, pharmaceuticals & chemicals, fish & animal feeds, catering to fishing farms, moist pellets & extruded pellets fish feeds Subject is also distributor of imported wines, liquors,
including brandy, scotch, bourbon, Chinese beers |
|
|
|
|
No. of Employees : |
579 |
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 |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
MERCIAN CORPORATION
Mercian KK
4-10-2 Nakano
Nakanoku Tokyo164-0001 JAPAN
Tel: 03-6837-7004
*.. Moved to the caption address in Apr 2013 from the one as given
URL: http://www.mercian.co.jp/
E-Mail address: webmaster@mercian.co.jp
Alcoholic
beverage producer
Sapporo,
Sendai, Kawasaki, Tomakomai, other (Tot 20)
Kawasaki, Yatsushiro, Fujisawa,
Katsunuma, Karuizawa, Tomakomai,
Nagareyama, Iwata
KIYOSHI
YOKOYAMA, PRES
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 48,117 M
PAYMENTSREGULAR CAPITAL Yen
20,972 M
TREND SLOW WORTH Yen 37,534 M
STARTED 1934 EMPLOYES 579
ALCOHOLIC BEVERAGE PRODUCER.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company is a comprehensive alcoholic beverage producer in close ties with Ajinomoto, nation’s largest seasoning mfr known for monosodium glutamate, Tokyo. Ranked second in wine production, known for Mercian Wines, and fourth in whisky. Also distributor of imported wines, liquors, including brandy, scotch, bourbon, Chinese beers. Japanese sake and feeds are the two earning sources. Actively engaged in pharmaceuticals. The firm’s network consists of five branch offices, eight factories and tow research facilities in Japan, as well as one representative office and five production facilities overseas. In Nov 2006, went into business tie-up with Kirin Breweries and in July 2007 became consolidated subsidiary of Kirin Holdings Co Ltd, and sales expanded. Moved to the caption address in Apr 2013.
The sales volume for Dec/2012 fiscal term amounted to Yen 48,117 million, a 4% down from Yen 50,027 million. The recurring profit was posted at Yen 1,464 million and the net profit at Yen 5,563 million, respectively, compared with Yen 449 million recurring profit and Yen 5,214 million net losses, respectively, a year ago.
For the term that ended Dec 2013 the recurring profit is projected at Yen 1,500 million and the net profit at Yen 5,600 million, respectively, on a 3% rise in turnover, to Yen 49,500 million, Final results are yet to be released.
The financial situation is considered maintained FAIR and
should be good for ORDINARY business engagements.
Date Registered: Dec
1934
Regd No.: 0100-01-034939 (Tokyo-Nakanoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
500 million shares
Issued:
145,270,303 shares
Sum: Yen 20,972 million
Major shareholders (%):
Kirin Holdings Co Ltd* (100)
*.. Kirin Holdings Co Ltd, second-ranked brewer of beer including low & no malt beer, in
Terms of market share, Tokyo, founded 1907, listed Tokyo S/E, capital Yen 102,045 million, sales Yen 1,096,214 million, recurring profit Yen 55,714 million, net profit Yen 59,668 million, total assets Yen 2,797,759 million, net worth Yen 1,052,104 million, employees 39,782, pres Seiji Miyake
Nothing detrimental is knows as to the commercial morality of executives.
Activities: Manufactures Mercian wines, other alcoholic beverages (--82%), pharmaceuticals & chemicals (12%), fish & animal feeds, catering to fishing farms, moist pellets & extruded pellets fish feeds, others (6%), others (1%).
Clients: [Wholesalers] Nihon Shurui Hambai, Ajinomoto, Sanyu Koami, Kokubu Ltd, Ryoshoku Liquor, Itochu Shokuhin, Meidi-Ya, other.
No. of accounts: 2,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Zen-Noh, Dentsu Ltd, Toppan Printing, Mitsubishi Corp, other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Corporate Bank (Uchisaiwaicho)
MUFG
(H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
49,500 |
48,117 |
50,027 |
60,844 |
|
Recur.
Profit |
|
1,500 |
1,464 |
449 |
-656 |
|
Net Profit |
|
5,600 |
5,563 |
5,214 |
-746 |
|
Total
Assets |
|
|
52,876 |
52,381 |
52,578 |
|
Current
Assets |
|
|
39,286 |
36,297 |
30,501 |
|
Current
Liabs |
|
|
12,801 |
13,239 |
18,028 |
|
Net
Worth |
|
|
37,534 |
37,055 |
31,901 |
|
Capital,
Paid-Up |
|
|
20,972 |
20,972 |
20,972 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.87 |
-3.82 |
-17.78 |
668.33 |
|
|
Current Ratio |
|
.. |
306.90 |
274.17 |
169.19 |
|
N.Worth Ratio |
.. |
70.98 |
70.74 |
60.67 |
|
|
R.Profit/Sales |
|
3.03 |
3.04 |
0.90 |
-1.08 |
|
N.Profit/Sales |
11.31 |
11.56 |
10.42 |
-1.23 |
|
|
Return On Equity |
.. |
14.82 |
14.07 |
-2.34 |
|
Notes: Forecast (or estimated) figures for the
31/12/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.50 |
|
UK Pound |
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.84.50 |
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.