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Report No. : |
314978 |
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Report Date : |
16.04.2015 |
IDENTIFICATION DETAILS
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Name : |
DON QUIJOTE CO
LTD |
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Registered Office : |
2-19-10 Aobadai Meguroku Tokyo 153-0042 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
August, 2013 |
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Com. Reg. No.: |
0110-01-096370 (Tokyo-Meguroku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
General Discount Store (DS) Operator, Operating 212 Stores Nationwide,
Selling: · Home electrical appliances: audio equipment, visual equipment, general household appliances, seasonal household appliances, telecommunications equipment; · Household goods: household accessories, paper & cotton goods, stationery, do-it-yourself products, drugs, household interior products; · Food: processed foods, drinks, confectionery, noodles, bread, dairy products, frozen foods, alcoholic beverages; · Watches & fashion-related merchandise: watches, jewelry, shoes, tobacco-related goods, clothing, designer brands, sun glasses; · Sporting goods & leisure products: sporting goods, bicycles, automobile accessories, miscellaneous outdoor items, pet foods, other |
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No. of Employees : |
2,600 |
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 8,983.9 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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. Since the complete
shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster
in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused the economy to
contract during the 2nd and 3rd quarters of 2014. The economy has largely
recovered in the three years since the disaster, but reconstruction in the
Tohoku region has been uneven due to labor shortages. 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 2014 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 government will continue a longstanding debate on
restructuring the economy and reining in Japan's huge government debt, which
amounts to more than 240% 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 2015, although the government in 2014 decided to postpone the
final phase of the increase until 2017 to give the economy time to recover from
the 2014 increase. 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 |
DON QUIJOTE CO LTD
REGD NAME: KK
Don Quijote
MAIN OFFICE: 2-19-10
Aobadai Meguroku Tokyo 153-0042 JAPAN
Tel: 03-5725-7532 Fax: 03-5725-7322
*.. The is
one of its stores (Tot 212 stores)
URL: http://www.donki.com
E-Mail address: (thru the URL)
DS (general
discount store) operator
212 stores
nationwide
KOJI OOHARA, PRES Takao Yasuda, ch
Mitsuo Takahashi,
dir Yoshida Naoki, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 251,841 M
PAYMENTSREGULAR CAPITAL Yen
100 M
TREND STEADY WORTH Yen 86,709 M
STARTED 2013 EMPLOYES 2,600
GENERAL DISCOUNT STORE OPERATOR.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 8,983.9 MILLION, ON 30 DAYS NORMAL TERMS.
The subject
company was established originally in 1980 as a discount operator in Fuchu, Tokyo-Pref,
and in Dec 2013 transferred and formed a holding company, Don Quijote Holdings
Co Ltd (See REGISTRATION), becoming
its wholly owned subsidiary and founded a new firm. This is a general discount store (DS)
operator, operating 212 stores nationwide, selling household electrical
appliances, household goods, foods, other (See OPERATION).
The sales volume
for Jun/2014 fiscal term amounted to Yen 251,841 million in the initial fiscal
term. The recurring profit was posted at
Yen 10,985 million and the net profit at Yen 6,440 million, respectively, for
the term.
For the current
term ending Jun 2015 the recurring profit is projected at Yen 11,000 million
and the net profit at Yen 7,000 million, respectively, on a 5% rise in turnover,
to Yen 264,500 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 8,983.9
million, on 30 days normal terms.
Date Registered: Aug
2013
Regd No.:
0110-01-096370
(Tokyo-Meguroku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 8,000
shares
Issued: 2,000
shares
Sum: Yen
100 million
Major
shareholders (%): Don Quijote Holdings Co
Ltd* (100)
*.. Holding Company, at the caption address,
formed in 2013, listed Tokyo S/E, capital Yen 21,814 million, sales 612,424
million, operating profit Yen 34,292 million, recurring profit Yen 35,487
million, net profit Yen 21,471 million, total assets Yen 489,466 million, net
worth Yen 201,147 million, employees 5,468, pres Koji Ohhara
Nothing
detrimental is known as to the commercial morality of executives.
Activities: General discount
store (DS) operator, operating 212 stores nationwide, selling:
Home
electrical appliances: audio equipment, visual equipment, general
household appliances, seasonal household appliances, telecommunications
equipment;
Household
goods: household accessories, paper & cotton goods, stationery,
do-it-yourself products, drugs, household interior products;
Food: processed foods,
drinks, confectionery, noodles, bread, dairy products, frozen foods, alcoholic
beverages;
Watches
& fashion-related merchandise: watches, jewelry, shoes, tobacco-related
goods, clothing, designer brands, sun glasses;
Sporting
goods & leisure products: sporting goods, bicycles, automobile accessories,
miscellaneous outdoor items, pet foods, other
Clients: Consumers
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Arata Corp, Yamaboshiya Co, Nihon Shurui Hanbai Co, Ueni Trading,
Doshisha Corp, Shutoken Kokubu Co, Kokubu Co, Sanyo Bussan Corp, Sun Smile Co,
Ohki Co, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactory.
Bank References:
MUFG (H/O)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
30/06/2015 |
30/06/2014 |
|
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Annual
Sales |
|
264,500 |
251,841 |
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Recur.
Profit |
|
11,000 |
10,985 |
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Net
Profit |
|
7,000 |
6,440 |
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Total
Assets |
|
|
159,401 |
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Current
Assets |
|
|
105,231 |
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Current
Liabs |
|
|
68 |
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Net
Worth |
|
|
86,709 |
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Capital,
Paid-Up |
|
|
100 |
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Div.P.Share(¥) |
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|
0.00 |
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<Analytical Data> |
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(%) |
(%) |
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S.Growth Rate |
|
5.03 |
- - - |
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Current Ratio |
|
.. |
154,751.47 |
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N.Worth Ratio |
|
.. |
54.40 |
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R.Profit/Sales |
|
4.16 |
4.36 |
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N.Profit/Sales |
|
2.65 |
2.56 |
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Return On Equity |
|
.. |
7.43 |
Notes: The 30/06/2014 is the initial fiscal term
from the reorganization.
Forecast (or
estimated) figures for the 30/06/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.40 |
|
|
1 |
Rs.92.15 |
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Euro |
1 |
Rs.66.48 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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 |
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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.