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Report Date : |
13.01.2014 |
IDENTIFICATION DETAILS
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Name : |
LIXIL VIVA CORPORATION |
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Registered Office : |
298-1 Kami Ageo Saitama-Pref |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
June, 1993 |
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Com. Reg. No.: |
0300-01-041872 (Saitama-Ageo) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
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No. of Employees : |
1,204 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
LIXIL VIVA
CORPORATION
REGD NAME: KK Lixil Viva
MAIN OFFICE: 298-1 Kami Ageo Saitama-Pref JAPAN
Tel:
048-773-3815
*.. The is
the
URL: http://www.vivahome.co.jp
E-Mail address: (thru the URL)
Home Center chains operation (from DIY to housing reforming goods)
89 stores from Hokkaido to western Japan
KATSUHIRO MAMENARI, PRES
Kazuyuki Yonezawa, dir Osamu
Watanabe, dir
Iwao Okura, dir Yoshizumi
Kanamori, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 154,658 M
PAYMENTS REGULAR CAPITAL Yen
20,000 M
TREND SLOW WORTH Yen 27,018 M
STARTED 1993 EMPLOYES 1,204
HOME CENTER OPERATOR.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1977 as Viva Home KK, and
I 1993 the firm went under Tostem Corp, it was reorganized and started
operation by the name of Tostem Viva Corp.
In 2011, the firm became a subsidiary of Lixil Group Corp and renamed as
captioned. This is an operator of home
center chains, operating 89 stores from Hokkaido to western Japan, handling DIY
to house reform goods, others (See OPERATION). Goods are also sold online. Opened in autumn
2013 Osaka Dome store in Osaka.
The sales volume for Mar/2013 fiscal term amounted to Yen 154,658
million, a 3% down from Yen 159,545 million in the previous term. Sales continued down in the northern Japan
after the earthquake there in 2012. The
recurring profit was posted at Yen 4,594 million and the net profit at Yen
2,371 million, respectively, compared with Yen 6,554 million recurring profit
and yen 3,468 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 4,700 million and the net profit at Yen 2,500 million, respectively, on
a 5% rise in turnover, to Yen 162,000 million.
Newly opened Osaka store will contribute.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun
1993
Regd No.: 0300-01-041872
(Saitama-Ageo)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued:
100,000 shares
Sum: Yen
20,000 million
Major shareholders
(%): Lixil Group Corp* (100)
*.. Largest manufacturer
of housing facilities & comprehensive maker of building materials, Tokyo,
founded 1949, listed Tokyo S/E, capital Yen 68,121 million, sales Yen 1,436,395
million, operating profit Yen 50,485 million, recurring profit Yen 53,063
million net profit Yen 21,347 million, total assets Yen 1,498,822 million, net
worth Yen 571,625 million, employees 47,000, pres Yoshiaki Fujimori
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Operates home
center stores, 89 stores from Hokkaido down to western Japan, selling from DIY
to housing renovation goods: DIY goods (51%), home improvements (31%), others
(18%).
(Handling Items): DIY goods, lumber, materials, electronic materials,
paints, adhesives, home interior goods, storages, working tools, lighting, home
electronics, gardening tools & supplies, pets, pet foods, living
necessities, house ware, stationery, car goods, cycling goods, sporting goods,
leisure goods housing equipment, exteriors/interiors, house reform (renovation)
goods, other
Clients: Consumers
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kao Customer Marketing, Paltac, Japell Co, Iris Ohyama Inc, Eco
Trading, Hanwa Corp, Yamazen Corp, Tokiwa Shoukai, Yuwa Corp, Hodaka Corp,
Koizumi Seiki Corp, other
Payment record: Regular
Location: Business area in
Ageo City, Saitama-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Ohtemachi)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
162,000 |
154,658 |
159,545 |
141,676 |
|
Recur. Profit |
|
4,700 |
4,594 |
6,554 |
5,200 |
|
Net Profit |
|
2,500 |
2,371 |
3,468 |
2,878 |
|
Total Assets |
|
|
115,774 |
116,743 |
111,335 |
|
Current Assets |
|
|
41,237 |
40,542 |
34,457 |
|
Current Liabs |
|
|
55,542 |
54,728 |
71,851 |
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Net Worth |
|
|
27,018 |
26,518 |
23,866 |
|
Capital, Paid-Up |
|
|
20,000 |
20,000 |
20,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.75 |
-3.06 |
12.61 |
5.56 |
|
|
Current Ratio |
|
.. |
74.24 |
74.08 |
47.96 |
|
N.Worth Ratio |
.. |
23.34 |
22.71 |
21.44 |
|
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R.Profit/Sales |
|
2.90 |
2.97 |
4.11 |
3.67 |
|
N.Profit/Sales |
1.54 |
1.53 |
2.17 |
2.03 |
|
|
Return On Equity |
.. |
8.78 |
13.08 |
12.06 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.