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Report No. : |
332506 |
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Report Date : |
16.07.2015 |
IDENTIFICATION DETAILS
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Name : |
FWINES CO LTD |
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Registered Office : |
Ebisu MS Bldg 6F, 4-6-1 Ebisu Shibuyaku Tokyo 150-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
Feb, 1991 |
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Com. Reg. No.: |
0107-01-020738 (Tokyo-Shibuyaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import and Wholesale of Fine Wines. |
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No. of Employees : |
59 |
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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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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 an 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. Scarce in many natural resources,
Japan has long been dependent on imported raw materials. Since the complete
shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster
in 2011, Japan's industrial sector has become even more dependent than it was
previously on imported fossil 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
impressive - 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 aftereffects 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. 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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out nuclear
power with a new policy of seeking to restart nuclear power plants that meet
strict new safety standards, and emphasizing nuclear energy’s importance as a
base-load electricity source. Japan joined the Trans-Pacific Partnership (TPP)
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. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
FWINES CO LTD
REGD NAME: KK
Fwines (pronounced as “Fines”)
MAIN OFFICE: Ebisu
MS Bldg 6F, 4-6-1 Ebisu Shibuyaku Tokyo 150-0013 JAPAN
Tel: 03-6732-8600
*.. Moved to the caption address in Jun/2014
from the former as given
E-Mail address: (thru the URL)
Import, wholesale
of fine wines
Nil
TAKUYA NAKANISHI,
PRES Shin Takeda, dir
Yuji Yamazaki, dir Hirokazu Yokoe, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 6,200 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
10 M
TREND UP WORTH Yen 2,512 M
STARTED 1991 EMPLOYES 59
IMPORTER & WHOSALER OF FINE WINES, WHOLLY OWNED BY SUNTORY WINE INTRNATIONAL
CO LTD.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Tohru Yagi for importing and wholesaling vintage
wines, as Kimros KK. In Mar 2002 started
importing fine wines from Europe, USA, other.
In Jul 2003, acquired by Suntory Ltd (See REGISTRATION) and became its wholly owned consolidated
subsidiary. Renamed as captioned in Sept
2003. Takuya Nakanishi took the pres
office in Sept 2009. This is a trading
firm specializing in importing and wholesaling fine/vintage wines mainly from
Europe, and USA, Australia, other. Wines
are shipped to hotels, department stores, commercial food distributors, other,
nationwide, through Suntory Ltd and group networks. In Apr 2009 the shareholder was changed to
Suntory Wine International Co Ltd, a subsidiary of Suntory Ltd, due to
corporate division.
Financials are
consolidated by the parent, Suntory Wine International Co Ltd and only
partially disclosed. He net profits were
not disclosed and are estimated only.
The sales volume
for Dec/2014 fiscal term amounted to Yen 6,200 million, a 4%% up from Yen 5,942 million in the previous term. The net profit is
estimated posted at Yen 310 million, compared with Yen 295 million a year
ago. .
For the current
term ending Dec 2015 the net profit is projected at Yen 320 million, on a 3%
rise in turnover, to Yen 6,380 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Feb
1991
Regd No.:
0107-01-020738
(Tokyo-Shibuyaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Suntory Wine
International Ltd*(100)
*.. Wholesaler of
wines, Tokyo, founded 2008, capital Yen 2,000 million, sales Yen 26,500
million, net profit Yen 1,080 million, total assets Yen 4,586 million, net
worth Yen 1,190 million, employees 180, pres Yuji Yamazakii
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales fine wines,
sparkling wines, others (--100%).
Wines are imported widely from: France,
Italy, Germany, Austria, Spain, Portugal, Hungary, USA, Chile, Argentina,
Australia, other. Imported wines are
stored in a temperature & density-controlled warehouses of its own
operation.
Clients: [Department
stores, commercial spirits dealers, chain stores] Kokubu Ltd, Ryoshoku Liquor,
Itochu Shokuhin Co, Sanyo Bussan Corp, Nihon Shurui Hanbai Co, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Wineries,
wholesalers, negociants] Domaine Bouchard Pere et Fils, William Fevre, other.
Imports from: France, Italy, Germany,
Austria, Spain, Portugal, Hungary, USA, Chile, Argentina, Australia, other.
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption address
are leased and maintained satisfactorily.
Bank References:
MUFG (Osaka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
Annual
Sales |
|
6,380 |
6,200 |
5,942 |
5,483 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
320 |
310 |
295 |
275 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
2,512 |
2,295 |
2,089 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.90 |
4.34 |
8.37 |
7.70 |
|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
5.02 |
5.00 |
4.96 |
5.02 |
Notes: Financials are only partially
disclosed. Net profits are all estimated
as not disclosed.
Forecast (or
estimated) figures for the 31/12/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
|
|
1 |
Rs.99.13 |
|
Euro |
1 |
Rs.69.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.