|
Report Date : |
06.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
AEON RETAIL CO LTD |
|
|
|
|
Registered Office : |
1-5-1 Nakase Mihamaku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
28.02.2014 |
|
|
|
|
Date of Incorporation : |
July 1986 |
|
|
|
|
Com. Reg. No.: |
(Chiba-Mihamaku) 000456 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Chain store operator of
general merchandise |
|
|
|
|
No. of Employees : |
86,207 |
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 |
|
Maximum Credit Limit : |
Yen 40,080.5 Million |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
AEON RETAIL CO LTD
REGD NAME: Aeon
Retail KK
MAIN OFFICE: 1-5-1
Nakase Mihamaku
Tel: 043-212-6500
URL: http//:www.aeonretail.jp
E-mail: (thru the URL)
Chain
store operator of general merchandise
495
chain stores nationwide
KAZUNORI
UMEMOTO, PRES Kunihiko Kuki, v pres
Masahito
Nishimatsu, s/mgn dir Mitsuko Tsuchiya,
s/mgn dir
Yasufumi
Horie, mgn dir Manabu Oshima,
mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,140,109 M
PAYMENTSREGULAR CAPITAL Yen
48,970 M
TREND SLOW WORTH Yen 351,244 M
STARTED 1986 EMPLOYES 86,207
CHAIN
STORE OPERATOR OF GENERAL MERCHANDISE, WHOLLY ONWED BY AEON CO LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 40,080.5 MILLION, 30 DAYS NORMAL TERMS
The subject
company was established a chain store operator of general merchandize, wholly
owned by Aeon Corp (See REGISTRATION). In Oct 2010 merged a sister company, Aeon
Marche Co Ltd. Also in Mar 2011 merged
Mycal Corp. Operates 538 chain stores
nationwide. The most well-known is Top
Value (Max Value), which turns around 20% of total sales.
Financials
are consolidated by the parent, Aeon Co Ltd and only disclosed in digested
form.
The sales volume for Feb/2014
fiscal term amounted to Yen 2,140,109 million, a 6% down (as adjusted on a
12-month basis) from Yen 566,421 million (for irregular 3 months). Closed down 7 stores during the term. The recurring profit was posted at Yen 29,609
million and the net profit at Yen 12,139 million, respectively, compared with
Yen 32,361 million recurring profit and Yen 12,236 million net profit,
respectively, a year ago. .
For
the current term ending Feb 2015 the recurring profit is projected at Yen 30,000
million and the net profit at Yen 14,000 million, respectively, on a 5% rise in
turnover, to Yen 2,250,000 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 40,080.5 million, on 30 days normal terms.
Date Registered: Jul 1986
Regd No.: (Chiba-Mihamaku) 000456
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 400,000
shares
Issued: 100,000
shares
Sum: Yen
48,900 million
Major shareholders (%): Aeon
Co Ltd* (100)
*.. Top-ranked operator of general merchandise stores (GMS),
Chiba, founded 1926, listed Tokyo S/E, capital Yen 220,007 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 1,120,095 million, employees 109,523, pres Motoya Okada
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Chain store operator of general
merchandise, operating 538 chain stores nationwide (--100%)
Clients: Consumers
No. of
accounts: Unavailable
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Aeon Top Value,
Mitsubishi Foods, Food Supply Jasco, Itochu Foods, Wacoal Holdings, Takisada
Osaka, Takihyo Co, Cross Plus Co, other
Payment record:
Regular
Location:
Business area in Chiba. Office premises
at the caption address are owned by the parent, Aeon Co Ltd, and maintained satisfactorily.
Bank References:
Mizuho
Bank (H/O)
SMBC
(H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
28/02/2015 |
28/02/2014 |
28/02/2013 |
30/11/2012 |
|
|
Annual
Sales |
|
2,250,000 |
2,140,109 |
566,421 |
1,587,186 |
|
Recur.
Profit |
|
30,000 |
29,609 |
32,361 |
7,656 |
|
Net
Profit |
|
14,000 |
12,139 |
12,236 |
-1,821 |
|
Total
Assets |
|
|
1,150,205 |
1,234,647 |
1,283,637 |
|
Current
Assets |
|
|
298,025 |
309,996 |
340,654 |
|
Current
Liabs |
|
|
693,403 |
777,015 |
839,891 |
|
Net
Worth |
|
|
351,244 |
347,076 |
334,511 |
|
Capital,
Paid-Up |
|
|
48,970 |
48,970 |
48,970 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.13 |
-5.54 |
42,74 |
-21.32 |
|
Current Ratio |
|
.. |
42.98 |
39.90 |
40.56 |
|
N.Worth Ratio |
|
.. |
30.54 |
28.11 |
26.06 |
|
R.Profit/Sales |
|
1.33 |
1.38 |
5.71 |
0.48 |
|
N.Profit/Sales |
|
0.62 |
0.57 |
2.16 |
-0.11 |
|
Return On Equity |
|
.. |
3.46 |
3.53 |
-0.54 |
Notes:
The 28/02/2013 fiscal term is for irregular36 months, due to change in
accounting term to
Mar/Feb
from Sept/Oct. The growth rates are
adjusted on a 12-month basis.
Forecast
(or estimated) figures for the 28/02/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.43 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.