|
|
|
MIRA
INFORM REPORT
|
Report No. : |
492877 |
|
Report Date : |
20.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
NATURE CELL
CO., LTD. |
|
|
|
|
Registered Office : |
5FL., 10, Gukhoe-daero 76-gil, Yeongdeungpo-gu, Seoul |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
09.30.2017 |
|
|
|
|
Date of Incorporation : |
06.08.1971 |
|
|
|
|
Com. Reg. No.: |
130-81-05606 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Export, Processing and Preserving of Other
Fruits and Vegetables Fruit Juice, Tomato Juice, Orange Juice, Health Aid
Food, Beverage, Canned Food, Stem Cell Business |
|
|
|
|
No. of Employees : |
175 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
South Korea |
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SOUTH KOREA - ECONOMIC
OVERVIEW
After emerging from the 1950-53 war with North Korea, South Korea emerged as one of the 20th century’s most remarkable economic success stories, becoming a developed, globally connected, high-technology society within decades. In the 1960s, GDP per capita was comparable with levels in the poorest countries in the world. In 2004, South Korea joined the trillion-dollar club of world economies.
Beginning in the 1960s under President PARK Chung-hee, the government promoted the import of raw materials and technology, encouraged saving and investment over consumption, kept wages low, and directed resources to export-oriented industries that remain important to the economy to this day. Growth surged under these policies, and frequently reached double-digits in the 1960s and 1970s. Growth gradually moderated in the 1990s as the economy matured, but remained strong enough to propel South Korea into the ranks of the advanced economies of the OECD by 1997. These policies also led to the emergence of family-owned chaebol conglomerates such as Daewoo, Hyundai, and Samsung, which retained their dominant positions even as the government loosened its grip on the economy amid the political changes of the 1980s and 1990s.
The Asian financial crisis of 1997-98 hit South Korea’s companies hard because of their excessive reliance on short-term borrowing, and GDP ultimately plunged by 7% in 1998. South Korea tackled difficult economic reforms following the crisis, including restructuring some chaebols, increasing labor market flexibility, and opening up to more foreign investment and imports. These steps lead to a relatively rapid economic recovery. South Korea also began expanding its network of free trade agreements to help bolster exports, and has since implemented 16 free trade agreements covering 58 countries—including the United State and China—that collectively cover more than three-quarters of global GDP.
In 2017, the election of President MOON Jae-in brought a surge in consumer confidence, in part, because of his successful efforts to increase wages and government spending. These factors combined with an uptick in export growth to drive real GDP growth to more than 3%, despite disruptions in South Korea’s trade with China over the deployment of a US missile defense system in South Korea.
In 2018 and beyond, South Korea will contend with gradually slowing economic growth - in the 2-3% range - not uncommon for advanced economies. This could be partially offset by efforts to address challenges arising from its rapidly aging population, inflexible labor market, continued dominance of the chaebols, and heavy reliance on exports rather than domestic consumption. Socioeconomic problems also persist, and include rising inequality, poverty among the elderly, high youth unemployment, long working hours, low worker productivity, and corruption.
|
Source
: CIA |
Basic Information
Basic
|
Company Name |
NATURE CELL
CO., LTD. |
|
Registered Address |
5FL., 10, Gukhoe-daero 76-gil,
Yeongdeungpo-gu, Seoul, Korea |
|
Building |
|
|
Zip Code |
07238 |
|
Tel |
+82-2-545-4137~8 |
|
Fax |
+82-2-545-4140 |
|
E-mail |
sales1@rnlsammi.com |
|
Website |
www.naturecell.co.kr |
|
Trading Address |
5FL., 10, Gukhoe-daero 76-gil,
Yeongdeungpo-gu, Seoul, Korea (Old Address System : 5FL., 13-1,
Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea) |
|
Tel |
+82-2-545-4137~8 |
|
Fax |
+82-2-545-4140 |
|
Other Address |
21, Gisangongdan 1-gil, Gisan-myeon,
Chilgok-gun, Gyeongsangbuk-do, Korea (Old Address System : 317-18, Yeong-ri,
Gisan-myeon, Chilgok-gun, Gyeongsangbuk-do, Korea) |
|
Tel |
+82-54-971-0851~4 |
|
Fax |
+82-54-971-4710 |
|
Other Address-Chilgok Factory |
64, Jusil 1-gil, Irwol-myeon,
Yeongyang-gun, Gyeongsangbuk-do, Korea (Old Address System : 586-9, Jugok-ri,
Irwol-myeon, Yeongyang-gun, Gyeongsangbuk-do, Korea) |
|
Tel |
+82-70-7019-6876 |
|
Fax |
+82-54-683-0851 |
|
Other Address-R&D Center |
Rm.406, Innoplex 1 Cha, 151, Gasan digital 1-ro,
Geumcheon-gu, Seoul, Korea (Old Address System : Rm.406, Innoplex 1 Cha, 371-47, Gasan-dong,
Geumcheon-gu, Seoul, Korea) |
|
Tel |
+82-2-858-8021 |
|
Fax |
|
|
Type |
Export |
|
Industry |
Processing and Preserving of Other Fruits
and Vegetables |
|
Main Business |
Fruit Juice, Tomato Juice, Orange Juice,
Health Aid Food, Beverage, Canned Food, Stem Cell Business |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
08/06/1971 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Shelf stable juice(50202304) |
|
Sell |
Prepared and preserved foods(50190000) |
|
Sell |
Non alcoholic beverages(50202300) |
|
Sell |
Fresh juice(50202305) |
CEO’s
|
Name |
Ra
Jeong-Chan |
|
Date of Birth |
10/18/1964 |
|
Title |
President & CEO |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
26,468,199,500 |
||||||||||||||||||
|
Employees |
175 |
||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 007390) as of 11/30/1992 |
||||||||||||||||||
|
Bank Details |
Kookmin Bank-Sungseo Corporate Finance
Branch Shinhan Bank Industrial Bank of Korea |
||||||||||||||||||
|
Corporate Registered No. |
124311-0005721 |
||||||||||||||||||
|
Business Registered No. |
130-81-05606 |
||||||||||||||||||
|
Permit & Licenses |
07/1999 ASME 10/17/2003 ISO 14001 10/17/2003 ISO 9001 05/2010 MAIN-BIZ 05/2011 INNO-BIZ Int’l Trade No.: 11436180 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
08/06/1971 Incorporated as DONG YANG BOILER
CO., LTD. 04/28/1999 Changed company name to DONGBO
HEAVY INDUSTRIES CO., LTD. 09/02/2008 Changed company name to SAMMI
FOOD CO., LTD. 03/30/2010 Changed company name to RFC
SAMMI CO., LTD. 05/28/2010 Split Boiler Business off, and
established SAMMI BOILER CO., LTD. 12/02/2010 Changed company name to R&L
SAMMI CO., LTD. 04/15/2013 Changed company name to the
present name 10/14/2016 Moved to the present HQ address
from 21, Gisangongdan 1-gil, Gisan-myeon, Chilgok-gun, Gyeongsangbuk-do,
Korea (Old Address System : 317-18, Yeong-ri, Gisan-myeon, Chilgok-gun,
Gyeongsangbuk-do, Korea) 01/09/2018 Increased capital to
26,416,199,500 KRW from 25,875,425,500 KRW 01/08/2018 Increased capital to
26,451,199,500 KRW from 26,416,199,500 KRW 01/09/2018 Increased capital to
26,468,199,500 KRW from 26,451,199,500 KRW |
Detailed Information
Management
|
Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
President & CEO |
Ra
Jeong-Chan |
Korean |
10/18/1964 |
01/29/2016 |
|
Director |
Kwon Soon-Mi |
Korean |
06/21/1963 |
10/07/2016 |
|
Director |
Kim Joo-Sun |
Korean |
08/15/1964 |
03/13/2015 |
|
Director |
Ban Eun-Jong |
Korean |
07/27/1971 |
03/13/2015 |
|
Outside Director |
Seo Yoo-Hern |
Korean |
02/08/1948 |
09/11/2015 |
|
Outside Director |
Shin Won-Jae |
Korean |
04/05/1964 |
09/11/2015 |
|
Auditor |
Chang Joon-Sik |
Korean |
04/22/1946 |
10/07/2016 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
09/2017 |
22,568,659,127 |
56,184,521,705 |
965,094,810 |
|
2016 |
26,787,766,569 |
52,666,627,905 |
-3,223,413,889 |
|
2015 |
30,553,552,182 |
45,969,748,427 |
-1,335,361,107 |
|
2014 |
25,355,150,539 |
24,536,576,420 |
1,895,129,735 |
|
2013 |
27,205,250,206 |
23,016,529,688 |
-1,898,930,921 |
|
2012 |
22,793,852,910 |
24,824,588,691 |
-1,623,029,397 |
|
2011 |
22,793,852,910 |
26,205,791,697 |
-1,623,029,397 |
|
2010 |
29,562,874,619 |
24,448,070,698 |
-265,272,941 |
Financial
Description
|
Authorized Capital(KRW) |
100,000,000,000 |
|
Paid-Up Capital(KRW) |
26,468,199,500 |
|
Total Issued Shares |
52,936,399 |
|
Balance
Sheet |
|||
|
Unit : Korean Won |
01/01/2017~09/30/2017 |
As of 12/31/2016 |
As of 12/31/2015 |
|
Total
Assets |
56,184,521,705 |
52,666,627,905 |
45,969,748,427 |
|
Current
Assets |
19,073,599,488 |
17,688,832,312 |
19,590,955,194 |
|
Cash
& Cash Equivalents |
5,344,270,755 |
3,447,383,505 |
5,649,329,717 |
|
Current
Financial Instruments |
|
10,000,000 |
10,000,000 |
|
Trade
Receivables |
5,612,342,829 |
3,185,915,098 |
3,484,399,296 |
|
Short-Term
Receivables |
340,200,000 |
|
2,000,000,000 |
|
Other
Receivables |
1,330,072,336 |
3,172,843,144 |
180,124,472 |
|
Other
Financial Assets |
2,027,699 |
127,585,101 |
29,701,573 |
|
Advance
Payments |
358,849,346 |
580,204,450 |
446,389,338 |
|
Prepaid
Expenses |
1,529,889,980 |
1,464,762,839 |
1,794,496,970 |
|
Deferred
Income Tax Assets |
23,350,100 |
39,394,610 |
48,303,690 |
|
VAT |
|
|
13,025,045 |
|
Held-to-Maturity
Financial Assets |
|
|
47,040,000 |
|
Inventories |
4,532,596,443 |
5,660,743,565 |
4,408,145,093 |
|
Other
Current Assets |
|
|
1,480,000,000 |
|
Non-Current
Assets |
37,110,922,217 |
34,977,795,593 |
26,378,793,233 |
|
Non-Current
Financial Instruments |
14,600,000 |
4,600,000 |
4,600,000 |
|
Marketable
Financial Instruments |
6,733,835,665 |
6,656,541,037 |
6,252,940,536 |
|
Other
Non-Current Assets |
10,168,883,747 |
9,790,472,332 |
7,775,043,000 |
|
Tangibles |
11,203,570,010 |
10,816,586,029 |
9,341,773,341 |
|
Intangibles |
6,473,653,094 |
5,104,775,454 |
612,825,802 |
|
Long-Term Guarantees |
516,379,701 |
604,820,741 |
391,610,554 |
|
Long-Term
Advance Payments |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
|
Total
Liabilities |
18,326,825,103 |
18,648,339,635 |
14,282,755,425 |
|
Current
Liabilities |
11,001,996,745 |
11,486,896,340 |
11,291,430,330 |
|
Trade Payables |
1,730,022,195 |
1,407,039,216 |
1,586,725,216 |
|
Short-Term
Borrowings |
2,240,000,000 |
2,240,000,000 |
2,740,000,000 |
|
Current
Portion of Long-Term Debts |
46,000,000 |
46,000,000 |
1,680,000,000 |
|
Account
Payables |
997,495,712 |
1,891,252,216 |
1,424,057,495 |
|
Accrued
Expenses |
500,834,103 |
634,639,894 |
568,110,223 |
|
Unearned Income |
11,538,463 |
11,538,463 |
11,538,461 |
|
Advance
Receipts |
5,418,653,602 |
5,049,862,199 |
2,959,872,928 |
|
Withholdings |
57,452,670 |
106,564,352 |
221,126,007 |
|
Guarantee Deposit Withhold |
|
100,000,000 |
100,000,000 |
|
Non-Current
Liabilities |
7,324,828,358 |
7,161,443,295 |
2,991,325,095 |
|
Long-Term
Borrowings |
1,882,500,000 |
1,917,000,000 |
230,000,000 |
|
Convertible Bonds |
4,585,659,512 |
4,321,804,317 |
2,154,128,764 |
|
Leasehold Deposit Received |
58,000,000 |
58,000,000 |
10,000,000 |
|
Confirmed
Salaries |
798,668,846 |
864,638,978 |
597,196,331 |
|
Capital
Stock |
25,875,425,500 |
25,404,675,500 |
24,576,376,000 |
|
Capital
Surplus |
10,986,211,801 |
8,751,836,601 |
34,933,607,570 |
|
Profit
Surplus |
-2,434,136,308 |
-3,412,494,566 |
-14,024,295,191 |
|
Others |
3,430,195,609 |
3,274,270,735 |
-13,798,695,377 |
|
Total
Equity |
37,857,696,602 |
34,018,288,270 |
31,686,993,002 |
|
Liab.
& Shareholder’s Equity |
56,184,521,705 |
52,666,627,905 |
45,969,748,427 |
|
Income
Statement |
|||
|
Unit : Korean Won |
01/01/2017~09/30/2017 |
As of 12/31/2016 |
As of 12/31/2015 |
|
Sales |
22,568,659,127 |
26,787,766,569 |
30,553,552,182 |
|
Cost
of Sold Goods |
17,822,116,269 |
22,854,062,155 |
27,359,103,328 |
|
Gross
Profit |
4,746,542,858 |
3,933,704,414 |
3,194,448,854 |
|
Selling
& Admin. Expenses |
4,128,327,728 |
7,563,692,382 |
4,358,088,834 |
|
Operating
Income |
618,215,130 |
-3,629,987,968 |
-1,163,639,980 |
|
Other
Income |
715,234,698 |
828,510,556 |
240,627,320 |
|
Other
Expenses |
130,997,979 |
493,606,133 |
407,465,726 |
|
Finance
Income |
250,060,040 |
530,440,483 |
509,592,829 |
|
Finance
Expenses |
487,417,079 |
458,770,827 |
480,478,742 |
|
Income
Before Taxes |
965,094,810 |
-3,223,413,889 |
-1,301,364,299 |
|
Income
Taxes Expenses |
|
0 |
33,996,808 |
|
Net
Income |
965,094,810 |
-3,223,413,889 |
-1,335,361,107 |
|
Cash
Flows |
|||
|
Unit : Korean Won |
01/01/2017~09/30/2017 |
As of 12/31/2016 |
As of 12/31/2015 |
|
Operating
Activities Cash Flows |
2,885,083,361 |
-2,144,436,612 |
975,505,133 |
|
Net
Income |
965,094,810 |
-3,223,413,889 |
-1,335,361,107 |
|
Adjustment |
1,596,215,786 |
2,646,816,320 |
2,175,199,693 |
|
Changes
in Asset/ & Liability |
-96,046,357 |
-1,693,711,718 |
279,070,749 |
|
Interests
Received |
277,598,925 |
343,121,588 |
142,967,486 |
|
Interests
Paid |
102,825,677 |
-265,552,603 |
-293,832,398 |
|
Income
Taxes |
39,394,520 |
48,303,690 |
7,460,710 |
|
Cash
Flows from Investing |
-2,492,481,950 |
-4,877,343,957 |
-16,413,985,139 |
|
Cash
Inflow from Investing |
346,670,535 |
|
|
|
Cash
Outflows for Investing |
-2,839,152,485 |
|
|
|
Cash
Flows from Financing |
1,485,236,700 |
4,790,037,500 |
18,490,624,050 |
|
Cash
Inflows from Financing |
1,619,736,700 |
|
|
|
Cash
Outflows from Financing |
-134,500,000 |
|
|
|
Increase/Decrease
in Cash |
1,896,887,250 |
-2,201,946,212 |
3,235,316,070 |
|
Cash
at the Beginning of Year |
3,447,383,505 |
5,649,329,717 |
2,414,013,647 |
|
Cash
at the End of Year |
5,344,270,755 |
3,447,383,505 |
5,649,329,717 |
Products, Technologies, Services Description
|
Main Products & Services |
Fruit Juice, Tomato Juice, Orange Juice,
Health Aid Food, Beverage, Canned Food, Stem Cell Business |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
Trade Partners & Competitors
|
Suppliers |
|
|
Customers |
WOONGJIN FOODS CO., LTD.(115411-0000192) NAMYANG DAIRY PRODUCTS CO.,
LTD.(110111-0092976) OTTOGI CORPORATION(134111-0002258) HAITAI HTB CO., LTD.(110111-0900004) LOTTE CHILSUNG BEVERAGE CO.,
LTD.(110111-0003684) |
|
Competitors |
BUKOOK CO., LTD. 2ND FL., SAMO BLDG., 53-3, CHEONGDAM-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-548-6350 FAX:+82-2-548-6351 ELIM CI CO., LTD. RM.2811, 28FL., U-TOWER, HEUNGDUCK KDB,
1029, YEONGDEO-DONG, GIHEUNG-GU, YONGIN-SI, GYEONGGI-DO,
KOREA TEL:+82-31-236-9900 FAX:+82-31-236-3613 KITTO LIFE CO., LTD. 576-1, CHILGOE-DONG, PYEONGTAEK-SI,
GYEONGGI-DO, KOREA TEL:+82-2-579-7003 FAX:+82-2-579-7572 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
R-JAPAN CO., LTD.(JAPAN) (31.88% held by the subject company) MEDICORP(KOREA) GDFI BRAIN CELL LABORATORY CO.,
LTD.(110111-5173838) ZERA NATURE CO., LTD.(110111-6394574) BIOSTAR ASIA LIMITED YANJI RNL BIO CO., LTD.(CHINA) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
STEMCELLBIO INC. (66.67% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
BIOSTAR
KOREA CO., LTD.(110111-4085464) |
|
Cooperative Enterprise |
-Insured Company LOTTE NON-LIFE INSURANCE CO.,
LTD.(110111-0014459) MERITZ FIRE & MARINE INSURANCE CO.,
LTD.(110111-0013328) |
Sales by Region (Activity & Markets)
|
Sales/ Unit Thousand KRW |
09/2017 |
2016 |
2015 |
|
Export |
9,557,577 |
10,872,263 |
8,888,285 |
|
Domestic |
13,011,082 |
15,915,503 |
21,665,268 |
|
Total |
22,568,659 |
26,787,766 |
30,553,553 |
The Subject exports to USA, Russia, China, Indonesia, Iran,
Singapore and Libya.
Court Action
No Records.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.91 |
|
|
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.17 |
|
KRW |
1 |
INR 0.060 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.