MIRA INFORM REPORT

Report No. :	313649
Report Date :	06.04.2015

IDENTIFICATION DETAILS

Name :	JAPAN SANGARIA BEVERGE CO LTD
Registered Office :	4-2-13 Nakano Higashisumiyoshiku, Osaka city Osaka 546-0012
Country :	Japan
Financials (as on) :	31.12.2014
Date of Incorporation :	Jan, 1974
Legal Form :	Limited Company
Line of Business :	Manufacturer and Selling of beverages. such as fermered milk drinks, milk-based drinks, coffee, soda, health beverages, tea beverages and vegitable drinks.
No. of Employees :	360

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

Status :	Satisfactory
Payment Behaviour :	No Complaints
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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
Japan	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
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. 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

Company Name and address

ENGLISH COMPANY NAME	JAPAN SANGARIA BEVERGE CO LTD
Japanese company name	KK NIHON SANGARIA BEVERAGE COMPANY
Registered Office
1. Street Number and District	4-2-13 Nakano Higashisumiyoshiku
2. City and Perefecture	Osaka city Osaka
3. ZIP Code	546-0012
4. Country	JAPAN
TEL	06-6702-5426
FAX	06-6702-5456
URL	www.sangaria.co.jp
Email Address	thru the URL
Activities (Services & Products)	Mfg/Selling of beverages. such as fermered milk drinks, milk-based drinks, coffee, soda, health beverages, tea beverages and vegitable drinks, etc.

SUMMARY OF REPORT

Annual Sales (MM YEN)	23,000
Capital Amount (MM YEN)	20
Net Worth (MM YEN)	Unavailable
FINANCES	FAIR
TREND	STABLE
EMPLOYEES	360

OTHER INFORMATION FOLLOWS

Year Started	1974
Year Registered	Jan. 1974
Major Shareholders
1	Yutaka Ishiyama
2	Hisako Ishiyama
3	Yoshio Ishiyama
Number of Shareholders	4
Authorized Shares	84,000
Issued Shares	40,000
Executives
PRESIDENT	YUTAKA ISHIYAMA
Director	Hisako Ishiyama
Director	Yoshio Ishiyama
Director	Chizuyo Matsumoto
Director	Kenichi Danbayashi
Main Banks
1	Resona Bank (Tanabe)
2	MUFG (Ueroku)
Relations	Satisfactory
Clients
1	Kato Sangyo Corp
2	Mitsuifoods Corp
3	Kokubu Corp
4	General Consumers
5	Other
Suppliers
1	Nippon Access Corp
2	Nippon Coffee Trading Corp
3	Takasago International Corp
4	Marubenifoods Corp
5	Other
Branches
1	Tokyo
2	Nagoya
3	Hiroshima
4	Fukuoka
5	Other
Factories
1	Osaka (2)
2	Mie(3)
Overseas
1	U.S.A.
HIGHLIGHT and COMMENT	The subject company was established as Ishiyama Shokuhin Kogyo Co., Ltd. in 1951, and started to manufacture and sell of soft drinks. In 1974, Japan Sangaria Beverage Co., Ltd. was founded. It offers various kinds of bevarages such as fermered milk drinks, milk-based drinks, coffee, soda, health beverages, tea beverages and vegitable drinks, etc. Besides, it has a licence of a manufacturer/seller of alcoholic drinks and mainly sells cocktail of shochu.

FINANCIAL information

Financials are disclosed only sales figures.

The sales volume for December 2014 fiscal term amounted to Yen 23,000 million, flat from Yen 23,000 million in the previous term.

For the current term ending December 2015, similar level of turnover is estimated. Final results are yet to be released.

The financial situation is considered fair and good for ORDINARY business engagements.

PLEASE ATTACH THE FINANCIALS BELOW.
Terms Ending:	31/12/2015	31/12/2014	31/12/2013	31/12/2012
Annual Sales	23,000	23,000	23,000	21,700
Recur. Profit	n/a	n/a	n/a	n/a
Net Profit	n/a	n/a	n/a	n/a
Total Assets
Net Worth
Capital, Paid-Up
Div.P.Share(¥)		0.00	0.00	0.00
<Analytical Data>	(%)	(%)	(%)	(%)
S.Growth Rate	0.00	0.00	5.99	#DIV/0!
Current Ratio		..	..	..
N.Worth Ratio		..	..	..
N.Profit/Sales	n/a	n/a	n/a	n/a

Terms Ending:	31/12/2015	31/12/2014	31/12/2013	31/12/2012	31/12/2011	31/12/2010
Annual Sales	23,000	23,000	23,000	21,700	22,000	20,500
Recur. Profit	n/a	n/a	n/a	n/a	..
Net Profit	n/a	n/a	n/a	n/a
Total Assets
Net Worth					0	0
Capital, Paid-Up
Div.P.Share(¥)		0.00	0.00	0.00
<Analytical Data>	(%)	(%)	(%)	(%)	(%)	(%)
S.Growth Rate	0.00	0.00	5.99	-1.36	7.32	#DIV/0!
Current Ratio		..	..	..	..	..
N.Worth Ratio		..	..	..	..	..
N.Profit/Sales					0.00	0.00
	S/Hldrs' Equity
	Div or Taxes
	Offs' Bonus
	Current Assets
	Current Liabs
	Credit Limit	134.2

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.59
UK Pound	1	Rs.92.46
Euro	1	Rs.67.51

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	NIT

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%)

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