|
Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOYS’R’US-JAPAN LTD |
|
|
|
|
Registered Office : |
Muza Kawasaki Central Tower F25/26, 1310 Omiyacho Saiwaiku Kawasaki Kanagawa-Pref 212-8566 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.01.2014 |
|
|
|
|
Date of Incorporation : |
November, 1989 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Retail of toys, childcare goods, children’s clothing, stationery |
|
|
|
|
No. of Employees : |
1,800 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
Yen 3,069.8 million |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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 |
TOYS’R’US-JAPAN
LTD
REGD NAME: Toys’R’US KK
MAIN OFFICE: Muza
Kawasaki Central Tower F25/26, 1310 Omiyacho Saiwaiku Kawasaki Kanagawa-Pref
212-8566 JAPAN
Tel:
044-549-9030
Fax: 044-549-9108
URL: http://www.toysrus.co.jp
E-Mail address: (thru the URL)
Retail of toys, childcare goods, children’s clothing, stationery, others
164 stores nationwide
USA (the parent)
Ichikawa, Kobe (--warehouses)
MONIKA MERZ, PRES Zen’ichiro
Shiraishi v pres
David J Scgwartz, dir Robert
S Zarra, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 137,906 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 10 M
TREND SLOW WORTH Yen 23,282 M
STARTED 1989 EMPLOYES 1,800
RETAILER OF TOYS, CHILDRENCARE GOODS, OTHERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 3,069.8 MILLION, ON 30 DAYS NORMAL
TERMS.
The subject company was established by Toys’R’US, USA as its Japan
operating office for selling toys, childcare goods, children’s clothing,
stationery, other. Operates164 stores
nationwide. Goods are imported.
The sales volume for Jan/2014 fiscal term amounted to Yen 137,906
million, a 6% down from Yen 147,345 million in the previous term. The operations plunged into the red to post
Yen 1,587 million recurring loss and Yen 6,502 net losses, respectively,
compared with Yen 1,516 million recurring profit and Yen 106 million net
profit, respectively, a year ago.
For the current term ending Jan 2015 the recurring profit is projected
at Yen 1,400 million and the net profit at Yen 110 million, respectively, on a
3% rise in turnover, to Yen 142,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 3,069.8 million, on the normal 30 days terms.
Date Registered: Nov 1989
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
20,000 shares
Issued:
20,000 shares
Sum: Yen 10 million
Major shareholders
(%): TRU Japan Holdings Inc (50), TRU Japan Holdings 2 LLC (50)
No. of shareholders: 2
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Retails toys,
childcare goods, children’s clothing, stationery, school supplies, game
consoles, game software, books & sporting goods, including Internet sales,
operating 164 retail stores nationwide (100%)
Clients: Consumers
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Goods are imported from USA, other
Payment record: Slow but correct
Location: Business area in
Kawasaki. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Ginza)
SMBC
(Shimbashi)
Relations:
^Satisfactory
|
Terms Ending: |
31/01/2015 |
31/01/2014 |
31/01/2013 |
31/01/2012 |
|
|
Annual Sales |
|
142,000 |
137,906 |
147,345 |
158,380 |
|
Recur. Profit |
|
1,400 |
-1,587 |
1,516 |
4,021 |
|
Net Profit |
|
110 |
-6,502 |
106 |
618 |
|
Total Assets |
|
|
62,823 |
69,541 |
74,685 |
|
Current Assets |
|
|
24,359 |
24,829 |
25,565 |
|
Current Liabs |
|
|
27,775 |
27,232 |
30,058 |
|
Net Worth |
|
|
23,282 |
29,783 |
29,672 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.97 |
-6.41 |
-6.97 |
-2.49 |
|
|
Current Ratio |
|
.. |
87.70 |
91.18 |
85.05 |
|
N.Worth Ratio |
.. |
37.06 |
42.83 |
39.73 |
|
|
R.Profit/Sales |
|
0.99 |
-1.15 |
1.03 |
2.54 |
|
N.Profit/Sales |
0.08 |
-4.71 |
0.07 |
0.39 |
|
|
Return On Equity |
.. |
-27.93 |
0.36 |
2.08 |
|
Notes: Forecast (or estimated) figures for the 31/01/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.00 |
|
|
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.