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Report No. : |
321727 |
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Report Date : |
08.05.2015 |
IDENTIFICATION DETAILS
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Name : |
CORDON VERT CO LTD |
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Registered Office : |
Sompo Japan Sendai Bldg 10f, 3-7-35 Tsutsujigaoka Miyaginoku Sendai 983-0852 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2014 |
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Date of Incorporation : |
July 2006 |
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Com. Reg. No.: |
0100-01-101442 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports and wholesales wines, liquors, whiskies, brandies, beer,
foods, confectionery (--100%). |
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No. of Employees : |
20 |
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 – 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 |
CORDON VERT CO LTD
Cordon Vert KK
Sompo Japan Sendai Bldg 10f, 3-7-35 Tsutsujigaoka Miyaginoku Sendai
983-0852 JAPAN
Tel: 022-742-3120 Fax:
022-742-3139
* Registered address and Tokyo Head Office at: 1-1 Kanda-Nishikicho Chiyodaku
Tokyo, as given
URL: http//:www.cordonvert.jp
E-mail: (thru
the URL)
ACTIVITIES: Import, wholesale of wines, whisky, liquor,
foodstuffs, confectionery
BRANCHES: Tokyo (as given)
OFFICER(S): HIROAKI YAMAUCHI, PRES Chozo Nakaya, ch
Takashi Fukui, s/mgn dir Hidefusa
Yamauchi, dir
Mitsuko Tsuchiya, dir Yasuo Suzuki, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 15,342 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 490 M
TREND UP WORTH Yen 692 M
STARTED 2006 EMPLOYES 20
COMMENT: PURCHASING COMPANY OF LIQUOR, WINE, FOODS,
JOINTLY OWNED BY AEON CO LTD & YAMAYA CORP FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established jointly by Aeon Co Ltd & Yamaya
Corp (See REGISTRATION for details
of both firms) as a joint purchasing company of liquors, wines, foodstuffs,
confectionary, other. It supports them
from factories to store shelves. Goods
are all imported, and shipped to the joint parents & their group
firms. Import sources are Europe, USA,
Asia, Africa, other.
Financials are consolidated by the parent, Aeon Co Ltd, and only
partially disclosed.
The sales volume for Feb/2014 fiscal term amounted to Yen 15,342
million, a 10% up from Yen 13,929 million in the previous term. The recurring profit was posted at Yen 69
million and the net profit at Yen 41 million, respectively, compared with Yen
21 million net profit a year ago. .
For the term that ended Feb 2015 the recurring profit was projected at
Yen 75 million and the net profit at Yen 45 million, respectively, on a 3% rise
in turnover, to Yen 15,800 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jul
2006
Regd No.: 0100-01-101442
(Tokyo-Chiyodaku)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 9,800 shares
Issued: 9,800 shares
Sum: Yen 490 million
Major shareholders
(%):
Aeon Co Ltd* (51), Yamaya Corp ** (49)
No. of
shareholders: 2
* Top-ranked operator general merchandise stores, Chiba, operating 396
stores nationwide, 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 1,684,569 million, employees 91,646, pres
Motoya Okada
Consolidated Financials are attached (See SUPPLEMENTS)
** Retailer of liquor, at the caption address, operating 189 retail
stores nationwide, founded 1970, listed Tokyo S/E, capital Yen 3,247 million,
sales Yen 135,658 million, operating profit Yen 4,200 million, recurring profit
Yen 4,285 million, net profit Yen 2,315 million, total assets Yen 78,118
million, net worth Yen 23,295 million, employees 1,937, pres Hideharu Yamauchi
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales wines, liquors, whiskies, brandies, beer, foods, confectionery
(--100%).
Clients: [Wholesalers,
retailers] Goods are wholly shipped to the joint parents and their group firms
No. of accounts: 600
Domestic areas of activities: Nationwide
Suppliers: [Mfrs
wholesalers] Goods are imported from: Europe (51%), Asia (17%), Africa (2%),
Oceania (8%), North America (14%), Central America (3%), & South America
(7%).
Payment record: No Complaints
Location: Business area in
Sendai. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Sendai)
SMBC (Sendai)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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28/02/2015 |
28/02/2014 |
28/02/2013 |
29/02/2012 |
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Annual Sales |
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15,800 |
15,342 |
13,929 |
10,573 |
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Recur. Profit |
|
75 |
69 |
.. |
.. |
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Net Profit |
|
45 |
41 |
21 |
40 |
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Total Assets |
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|
1,073 |
N/A |
N/A |
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Net Worth |
|
|
692 |
605 |
591 |
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Capital, Paid-Up |
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|
490 |
490 |
490 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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2.99 |
10.14 |
31.74 |
12.10 |
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Current Ratio |
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|
.. |
.. |
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N.Worth Ratio |
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|
64.49 |
.. |
.. |
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N.Profit/Sales |
|
0.28 |
0.27 |
0.15 |
0.38 |
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 28/02/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.88 |
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|
1 |
Rs.97.21 |
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Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.