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Report Date : |
16.06.2014 |
IDENTIFICATION DETAILS
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Name : |
CORDON VERT CO LTD |
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Registered Office : |
3-7-35 Tsutsujigaoka Miyaginoku Sendai 983-0852 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
July 2006 |
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Com. Reg. No.: |
0100-01-101442 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of wines, whisky, liquor, foodstuffs, confectionery |
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No. of Employees |
22 |
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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Maximum Credit Limit : |
Yen 253.8 Million |
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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
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
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 |
CORDON VERT CO LTD
REGD NAME: Cordon
Vert KK
MAIN OFFICE: 3-7-35
Tsutsujigaoka Miyaginoku Sendai 983-0852 JAPAN
Tel:
022-742-3120 Fax: 022-742-3139
* Registered address and
Tokyo Head Office at: 1-1 Kanda-Nishikicho Chiyodaku
Tokyo, as given
URL: http//:www.cordonvert.jp
E-mail: (thru the URL)
Import,
wholesale of wines, whisky, liquor, foodstuffs, confectionery
Tokyo
(as given)
HIROAKI
YAMAUCHI, PRES Kazumi Uchiyama, ch
Takashi Fukui, s/mgn dir Hidefusa Yamauchi, dir
Toshimi Okada, dir Yasuo Suzuki, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 13,929 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
490 M
TREND UP WORTH Yen 605 M
STARTED 2006 EMPLOYES 22
PURCHASING
COMPANY OF LIQUOR, WINE, FOODS, JOINTLY OWNED
BY
AEON CO LTD & YAMAYA CORP
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 253.8 MILLION, 30 DAYS NORMAL TERMS
The subject company was established jointly by Aeon Co Ltd
& Yamaya Corp (See REGISTRATION
for details of both firms) as a joint purchasing company of liquors, wines,
foods, confectionary, other. It supports
them from factories to store shelves.
Goods are all imported, and shipped to the joint parents & their
group firms. Import sources are Europe,
USA, Asia, Africa, other.
Financials are consolidated by the parent, Aeon Co Ltd, and
only partially disclosed.
The sales volume for Feb/2013 fiscal term amounted to Yen
13,929 million, a 32% sharp rise from Yen 10,573 million in the previous term. 6 new stores were opened by the parent, Aeon
Co Ltd, with existing stores holding steady.
The net profit was posted at Yen 21 million, compared with Yen 40
million a year ago. .
For the term that ended Feb 2014 the net profit was
projected at Yen 50 million, on a 4% rise in turnover, to Yen 14,500
million. Final results are yet to be
released.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 253.8 million, on 30 days normal terms.
Date Registered: Jul 2006
Regd No.: 0100-01-101442 (Tokyo-Chiyodaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 9,800
shares
Issued: 9,800
shares
Sum: Yen 490 million
Major shareholders (%): Aeon
Co Ltd* (51), Yamaya Corp ** (49)
No. of shareholders: 2
* Top-ranked operator general
merchandise stores, Chiba, operating 396 stores nationwide, founded 1926,
listed Tokyo S/E, capital Yen 212,406 million, sales Yen 6,395,142 million,
operating profit Yen 171,432 million, recurring profit Yen 176,854 million, net
profit Yen 45,600 million, total assets Yen 6,815,241 million, net worth Yen
1,684,569 million, employees 91,646, pres Motoya Okada
Consolidated Financials are
attached (See SUPPLEMENTS)
** Retailer of liquor, at the
caption address, operating 189 retail stores nationwide, founded 1970, listed
Tokyo S/E, capital Yen 3,247 million, sales Yen 119,885 million, operating
profit Yen 3,551 million, recurring profit Yen 3,767 million, net profit Yen 2,218
million, total assets Yen 36,493 million, net worth Yen 21,045 million,
employees 964, pres Hideharu Yamauchi
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Imports and wholesales wines,
liquors, whiskies, brandies, beer, foods, confectionery (--100%).
Clients: [Wholesalers, retailers] Goods are
wholly shipped to the joint parents and their group firms
No. of
accounts: 600
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs wholesalers] Goods are imported
from: Europe (51%), Asia (17%), Africa (2%), Oceania (8%), North America (14%),
Central America (3%), South America (7%).
Payment record: No
complaints
Location:
Business area in Sendai. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Sendai)
SMBC
(Sendai)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
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Annual
Sales |
|
14,500 |
13,929 |
10,573 |
9,432 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
50 |
21 |
40 |
45 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
605 |
591 |
563 |
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Capital,
Paid-Up |
|
|
490 |
490 |
490 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.10 |
31.74 |
12.10 |
-8.46 |
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Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
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N.Profit/Sales |
0.34 |
0.15 |
0.38 |
0.48 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.48 |
|
|
1 |
Rs.100.93 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
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|
Report Prepared
by : |
NIS |
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 |
-- |
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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.