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Report No. : |
346751 |
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Report Date : |
26.10.2015 |
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) : |
28.02.2015 |
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Date of Incorporation : |
July, 2006 |
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Com. Reg. No.: |
0100-01-101442 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import and Wholesale of Wines, Whisky, Liquor, Foodstuffs,
Confectionery. |
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No. of Employees : |
22 |
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 : |
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.
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 first-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.
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Source
: CIA |
CORDON VERT CO LTD
REGD NAME: Cordon
Vert KK
MAIN OFFICE: 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
**.. The given Reg No is not applicable in
Japan
URL: http//:www.cordonvert.jp
E-mail: (thru the URL)
Import, wholesale
of wines, whisky, liquor, foodstuffs, confectionery
Tokyo (as given)
HIROAKI YAMAUCHI, PRES Eiji Shibata, ch
Takashi Fukui, s/mgn dir Hidefusa Yamauchi, dir
Yasuo Suzuki, dir Hiaki Sato, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 12,715 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen 490 M
TREND SLOW WORTH Yen 724 M
STARTED 2006 EMPLOYES 22
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/2015 fiscal term amounted to Yen 12,715 million, a 17% down from Yen
15,342 million in the previous
term.
The weaker Yen affected down both sales & profits in Yen terms. The recurring profit was posted at Yen 53
million and the net profit at Yen 32 million, respectively, compared with Yen
69 million recurring profit and Yen 41 million net profit, respectively, a year
ago. .
For the current
term ending Feb 2016 the recurring profit is projected at Yen 55 million and
the net profit at Yen 35 million, respectively, on a 3% rise in turnover, to
Yen 13,100 million.
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 405
stores nationwide, founded 1926, listed Tokyo S/E, capital Yen 220,007 million,
sales Yen 7,078,577 million, operating profit Yen 141,368 million, recurring
profit Yen 152,509 million, net profit Yen 42,069 million, total assets Yen
7,859,803 million, net worth Yen 1,206,305 million, employees 126,445, pres
Motoya Okada
** 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 163,158 million, operating profit Yen 5,494 million, recurring profit
Yen 5,460 million, net profit Yen 1,614 million, total assets Yen 69,641
million, net worth Yen 23,513 million, employees 2,088, 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: Slow but correct
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: |
|
29/02/2016 |
28/02/2015 |
28/02/2014 |
28/02/2013 |
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Annual
Sales |
|
13,100 |
12,715 |
15,342 |
13,929 |
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Recur.
Profit |
|
55 |
53 |
69 |
.. |
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Net
Profit |
|
35 |
32 |
41 |
21 |
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Total
Assets |
|
|
1,214 |
1,073 |
N/A |
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Net
Worth |
|
|
724 |
692 |
605 |
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Capital,
Paid-Up |
|
|
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 |
|
3.03 |
-17.12 |
10.14 |
31.74 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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|
59.64 |
64.49 |
.. |
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N.Profit/Sales |
|
0.27 |
0.25 |
0.27 |
0.15 |
Notes: Financials are only partially
disclosed.
Forecast (or
estimated) figures for the 29/02/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.89 |
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Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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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.