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Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
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Name : |
O’WILL
CORPORATION |
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Registered Office : |
Aoyama Bldg 12F, 1-2-3 Kita-Aoyama Minatoku Tokyo 107-0061 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 (Consolidated) |
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Date of Incorporation : |
July 1986 |
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Com. Reg. No.: |
(Tokyo-Minatoku) 083638 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter
and wholesaler of Foods, such
as Sugar, Milk, Cream, Butter, Cheese, Ice Cream, Fruits Juice, Fresh/Frozen
Fruits & Vegetables, Canned/Bottled Foods, Powder, Spices, Sauce, Teas,
Coffee, Frozen/Chilled Foods, Food Packaging & Wrapping Materials, Fine
Chemicals (Lactic Acid, Liquefied Carbonic Acid Gas as well as Skin
Absorptive Agents |
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No of Employees : |
67 |
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 : |
No Complaints |
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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
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate 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 |
O’WILL CORPORATION
O Will KK
Aoyama Bldg 12F, 1-2-3 Kita-Aoyama Minatoku
Tokyo 107-0061 JAPAN
Tel: 03-5772-4488
E-Mail address: inquiry@owill.co.jp
Importer, exporter and wholesaler of Foods, such as Sugar, Milk, Cream, Butter, Cheese, Ice Cream, Fruits Juice, Fresh/Frozen Fruits & Vegetables, Canned/Bottled Foods, Powder, Spices, Sauce, Teas, Coffee, Frozen/Chilled Foods, Food Packaging & Wrapping Materials, Fine Chemicals (Lactic Acid, Liquefied Carbonic Acid Gas as well as Skin Absorptive Agents
Nil
Seattle,
Shanghai
HIDEKI
OGUCHI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 27,084 M
PAYMENTS No
Complaints CAPITAL Yen 363 M
TREND SLOW WORTH Yen
1,714 M
STARTED 1986 EMPLOYES 67
TRADING FIRM SPECIALIZING IN FOODS & CHEMICALS
FINANCIAL SITUATION COSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
|
Business |
Terms Ending |
Annual
Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
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Results: |
31/03/2011 |
25,381 |
278 |
181 |
(%) |
1,433 |
|
(Consolidated) |
31/03/2012 |
26,431 |
443 |
158 |
4.14 |
1,481 |
|
31/03/2013 |
27,443 |
393 |
225 |
3.83 |
1,634 |
|
|
31/03/2014 |
27,084 |
322 |
165 |
-1.31 |
1,714 |
|
|
31/03/2015 |
30,000 |
420 |
250 |
10.77 |
.. |
Unit: In Million Yen
Forecast figures for the 31/03/2015
fiscal term.
The subject company was established by Hideki Oguchi in order to make most of his experience in the subject line of business. This is a trading firm for import, export and wholesale of food, dairy products, fruits & vegetables, teas, coffee, packaging materials, fine chemicals. Goods are imported from Germany, France, UK, Indonesia, Brazil, USA, other. Also export them. In Nov 2008, the firm was listed on the JASDAQ. The firm switched (upgraded) to the second section of Tokyo S/E in March 2014 from the previous JASDAQ. Clients include major food processors nationwide.
The sales volume for Mar/2014 fiscal term amounted to Yen 27,084 million, a 1.3% down from Yen 27,443 million in the previous term. The recurring profit was posted at Yen 322 million and the net profit at Yen 165 million, respectively, compared with Yen 393 million recurring profit and Yen 225 million net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected at Yen 420 million and the net profit at Yen 250 million, on a 10.8% rise in turnover, to Yen 30,000 million. Weaker Yen will raise earnings in Yen terms.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jul
1986
Regd No.: (Tokyo-Minatoku) 083638
Legal Status:
Limited Company (Kabushiki Kaisha
Authorized: 12 million shares
Issued:
3,150,000 shares
Sum: Yen 363
million
Major shareholders (%): Bienna Co (33.6), Green Core Ltd (9.5), Employees’ S/Holding Assn (3.9), Hideki Oguchi (2.8), Ito En (2,8), Shinji Ohno (1.7), Toshihide Aogaki (1.5), Kaga Electronics (1.3), Jun’ichi Yamaguchi (1.1), Yahoko Oguchi (1.1); foreign owners (0.4)
No. of shareholders: 2,173
Listed on the S/Exchange (s) of: Tokyo (second section)
Managements: Hideki Oguchi, pres; Toshihide Aogaki, s/mgn dir; Shigemasa Jinno, mgn dir; Keisuke Awano, mgn dir; Motomu Sato, dir; Kazuki Date, dir
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales foods, such as sugar, milk, cream, butter, cheese, ice cream, fruits juice, fresh/frozen fruits & vegetables, canned/bottled foods, powder, spices, sauce, teas, coffee, frozen/chilled foods, food packaging & wrapping materials, fine chemicals (lactic acid, liquefied carbonic acid gas, skin absorptive agents, other (97%); others (3%).
Clients: [Food processors] Ito En Ltd, Hotel Foods, Suntory Ltd, Nihon Canpack, Asahi Soft Drinks, Gold Pack, Ryohin Keikaku, Delmont Japan, Kirin Beverages, other
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] DIC, Chiyoda Container, Crown Package, Asahi Pulp & Paper, other.
Also imports from Germany, France, UK, Indonesia, Brazil, USA, other.
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
· MUFG (Ebisu)
· Mizuho Bank (Shinjuku-Minamiguchi)
Relations:
Satisfactory
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2014 |
31/03/2013 |
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INCOME STATEMENT |
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Annual Sales |
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27,084 |
27,443 |
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Cost of Sales |
24,725 |
25,136 |
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GROSS PROFIT |
2,358 |
2,306 |
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Selling & Adm Costs |
2,079 |
1,933 |
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OPERATING PROFIT |
279 |
373 |
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Non-Operating P/L |
43 |
20 |
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RECURRING PROFIT |
322 |
393 |
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NET PROFIT |
165 |
225 |
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BALANCE SHEET |
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Cash |
|
987 |
1,238 |
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Receivables |
3,533 |
4,226 |
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Inventory |
1,770 |
1,347 |
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Securities, Marketable |
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Other Current Assets |
383 |
331 |
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TOTAL CURRENT ASSETS |
6,673 |
7,142 |
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Property & Equipment |
348 |
324 |
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Intangibles |
119 |
88 |
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Investments, Other Fixed Assets |
640 |
600 |
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TOTAL ASSETS |
7,780 |
8,154 |
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Payables |
3,727 |
4,712 |
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Short-Term Bank Loans |
302 |
228 |
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Other Current Liabs |
1,257 |
951 |
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TOTAL CURRENT LIABS |
5,286 |
5,891 |
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Debentures |
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Long-Term Bank Loans |
713 |
564 |
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Reserve for Retirement Allw |
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Other Debts |
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67 |
65 |
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TOTAL LIABILITIES |
6,066 |
6,520 |
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MINORITY INTERESTS |
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Common
stock |
363 |
363 |
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Additional
paid-in capital |
288 |
288 |
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Retained
earnings |
1,011 |
940 |
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Evaluation
p/l on investments/securities |
39 |
29 |
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Others |
14 |
15 |
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Treasury
stock, at cost |
(1) |
(1) |
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TOTAL S/HOLDERS` EQUITY |
1,714 |
1,634 |
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TOTAL EQUITIES |
7,780 |
8,154 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2014 |
31/03/2013 |
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Cash
Flows from Operating Activities |
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-215 |
-12 |
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Cash
Flows from Investment Activities |
-175 |
-169 |
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Cash
Flows from Financing Activities |
124 |
219 |
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Cash,
Bank Deposits at the Term End |
|
987 |
1,238 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2014 |
31/03/2013 |
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Net
Worth (S/Holders' Equity) |
1,714 |
1,634 |
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Current
Ratio (%) |
126.24 |
121.24 |
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Net
Worth Ratio (%) |
22.03 |
20.04 |
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Recurring
Profit Ratio (%) |
1.19 |
1.43 |
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Net
Profit Ratio (%) |
0.61 |
0.82 |
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Return
On Equity (%) |
9.63 |
13.77 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.59.21 |
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UK Pound |
1 |
Rs.99.17 |
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Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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.