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Report No. : |
313298 |
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Report Date : |
31.03.2015 |
IDENTIFICATION DETAILS
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Name : |
SEIYU PROCUREMENT LTD |
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Registered Office : |
Seiyu Akabane Honkan 5F, 2-1-1 Akabane Kitaku Tokyo 115-0045 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
November, 2005 |
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Com. Reg. No.: |
(Tokyo-Kitaku) 011430 |
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Legal Form : |
Liability Limited Company (Godo Kaisha) |
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Line of Business : |
Import and Wholesale of Supermarket Commodities. |
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No. of Employees : |
Not Available |
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 462.6 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 |
|
Risk Category |
ECGC
Classification |
|
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. 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 |
SEIYU PROCUREMENT LTD
REGD NAME: KK
Seiyu Procurement
MAIN OFFICE: Seiyu
Akabane Honkan 5F, 2-1-1 Akabane Kitaku Tokyo 115-0045 JAPAN
Tel: 03-3598-2119 Fax: 03-3598-2126
URL: http://www.seiyu.co.jp
(of the parent, Seiyu GK)
E-Mail address: (thru the URL)
Import, wholesale
of supermarket commodities
Nil
JOHN WELLING, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 26,000 M (result in ‘13)
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 400 M
TREND UP WORTH Yen 2,188 M (result in
‘13)
STARTED 2005 EMPLOYES N/A
TRADING FIRM SPECIALIZING IN SUPERMARKETS COMMODITIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 462.6 MILLION, ON 30 DAYS NORMAL TERMS.
The subject
company was established on the basis of procurement division separated from
Seiyu GK, supermarket chain operator, at the caption address (See REGISTRATION). This is a trading firm, procurement division
of Seiyu GK, for importing and wholesaling foodstuffs, clothing, household
utensils, and general merchandise, others for exclusive supply to the parent.
Financials are disclosed only partially.
The sales volume for December 2014 fiscal term amounted to *Yen 27,500
million, a 5.7% up from Yen 26,000 million in the previous term. The net profit is posted at Yen 130 million which
is stable from Yen 124 million net profit a year ago.
For the current term ending December 2015, the net profit at Yen 135
million is estimated based on a 4% rise in turnover, to Yen 28,600
million. Final results are yet to be
released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 462.6 million, on 30 days normal terms.
* It is estimated
from net profit level in 2014 as sales figures in 2014 have not been disclosed.
Date Registered: Nov
2005
Regd No.:
(Tokyo-Kitaku)
011430
Legal Status: Liability
Limited Company (Godo Kaisha)
Authorized: Unavailable
Issued: Unavailable
Sum: Yen
400 million
Major shareholders (%): Seiyu GK* (100)
*.. Supermarket chain
operator, at the caption address, owned by Wal-Mart Japan Holdings, operating
372 chain stores nationwide, founded Apr 1963, capital Yen 100 million, sales
Yen 685,035 million, net losses Yen 14,653 million, total assets Yen 598,840
million (all the figures as at Dec/2005 fiscal term figures, otherwise not
disclosed) million, employees 17,916 (including part-timers), pres Steve Dacus
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales foodstuffs, apparel & accessories, household utensils, living
fashion, garments, daily necessities, general merchandise, others (--100%).
Goods are wholly supplied to the parent, Seiyu GK.
Clients: [Supermarket]
Seiyu GK (100%)
No. of accounts: 1
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Suntory Foods, Nichirei Foods, Asahi Shokuhin Kogyo, Yonekyu Co,
Ito En Ltd, Toho Lamac Co, Wahei Sangyo, Roy-Ne Co, Itochu Corp, other
Payment
record: Slow but correct
Location: Business area in Tokyo. Office premises at the caption address are
owned by the parent, Seiyu GK, and maintained satisfactorily.
Bank References:
Mizuho Bank
(Ikebukuro)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2015 |
31/12/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual
Sales |
|
28,600 |
27,500 |
26,000 |
27,000 |
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Recur.
Profit |
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|
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Net
Profit |
|
135 |
130 |
124 |
126 |
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Total
Assets |
|
8,694 |
8,360 |
8,038 |
7,483 |
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Current
Assets |
|
8,601 |
8,270 |
7,952 |
7,394 |
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Current
Liabs |
|
6,318 |
6,075 |
5,841 |
5,419 |
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Net
Worth |
|
2,453 |
2,318 |
2,188 |
2,063 |
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Capital,
Paid-Up |
|
400 |
400 |
400 |
400 |
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Div.P.Share(¥) |
|
0 |
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.00 |
5.77 |
-3.70 |
-18.18 |
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Current Ratio |
|
.. |
136.14 |
136.14 |
136.45 |
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N.Worth Ratio |
|
.. |
27.73 |
27.22 |
27.57 |
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R.Profit/Sales |
|
.. |
.. |
.. |
.. |
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N.Profit/Sales |
|
0.47 |
0.47 |
0.48 |
0.47 |
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Return On Equity |
|
.. |
5.61 |
5.67 |
6.11 |
Notes: Financials are only partially disclosed.
Forecast (or estimated)
figures for the 31/12/2015 fiscal term
Estimated figures
used except for net profit for the 31/12/2014 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.63 |
|
|
1 |
Rs.92.94 |
|
Euro |
1 |
Rs.68.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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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.