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MIRA INFORM REPORT
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Report No. : |
497026 |
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Report Date : |
09.03.2018 |
IDENTIFICATION DETAILS
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Name : |
O’WILL CORPORATION |
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Registered Office : |
Aoyama Bldg 12F, 1-2-3 Kita-Aoyama Minatoku Tokyo 107-0061
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Country : |
Japan |
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Financials (as on) : |
31.03.2017 |
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Date of Incorporation : |
July 1986 |
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Com. Reg. No.: |
0104-01-083638 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports, exports and wholesales foods, such as sugar,
milk, cream, butter, cheese, ice cream, fruits juice, fresh/frozen fruits
& vegetables, canned/bottled foods, powder, spices, sauce, teas, coffee,
frozen/chilled foods, food packaging & wrapping materials, fine chemicals
(lactic acid, liquefied carbonic acid gas, skin absorptive agents, other;
manufacturing & marketing, others |
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No. of Employees : |
67 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
JAPAN - ECONOMIC
OVERVIEW
Over the past 70 years, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (slightly less than 1% of GDP) have helped Japan develop an advanced economy. Two notable characteristics of the post-World War II 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 have significantly eroded under the dual pressures of global competition and domestic demographic change.
Measured on a purchasing power parity basis that adjusts for price differences, Japan in 2017 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. For three postwar decades, overall real economic growth was impressive - a 10% average in the 1960s, 5% in the 1970s, and 4% in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the aftereffects of inefficient investment and the collapse of an asset price bubble in the late 1980s, which entailed considerable 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.
Japan enjoyed an 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. Led by the Bank of Japan’s aggressive monetary easing, Japan is making modest progress in ending deflation, but demographic decline – a low birthrate and an aging, shrinking population – poses a major long-term challenge for the economy. The government currently faces the quandary of balancing its efforts to stimulate growth and institute economic reforms with the necessity of addressing its sizable public debt, which stands at 235% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate. However, the first such increase, in April 2014, led to another recession, so Prime Minister ABE has twice postponed the next increase, now scheduled for October 2019. Structural reforms to unlock productivity are seen as central to strengthening the economy in the long-run.
Scarce in critical natural resources, Japan has long been dependent on imported energy and raw materials. After the complete shutdown of Japan’s nuclear reactors following the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than before on imported fossil fuels. However, ABE’s government is seeking to restart nuclear power plants that meet strict new safety standards and is emphasizing nuclear energy’s importance as a base-load electricity source. In August 2015, Japan successfully restarted one nuclear reactor at the Sendai Nuclear Power Plant in Kagoshima prefecture, and several other reactors around the country have since resumed operations; however, opposition from local governments has delayed several more restarts that remain pending. Reforms of the electricity and gas sectors, including full liberalization of Japan’s energy market in April 2016 and gas market in April 2017, constitute an important part of Prime Minister Abe’s economic program.
In October 2015, Japan and 11 trading partners reached agreement on the Trans-Pacific Partnership (TPP), a pact that had promised to open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. Japan was the first country to ratify the TPP in December 2016; the United States signaled its withdrawal from the TPP in January 2017, and in November 2017 the remaining 11 countries agreed on the core elements of a modified agreement, which they renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
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Source
: CIA |
Company
summery
O’WILL CORPORATION
REGD NAME: O Will KK
MAIN OFFICE: Aoyama Bldg 12F, 1-2-3 Kita-Aoyama Minatoku
Tokyo 107-0061 JAPAN
Tel:
03-5772-4488 Fax: 03-5772-4422
URL: http://www.owill.co.jp
E-Mail
address: inquiry@owill.co.jp
ACTIVITIES: Import, export, wholesale of foods,
pharmaceuticals, chemical equipment
BRANCHES: Numazu
OVERSEAS: USA, China, Singapore (--subsidiaries)
CHIEF EXEC: HIDEKI OGUCHI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 28,121 M
PAYMENTS REGULAR CAPITAL Yen
363 M
TREND STEADY WORTH Yen
2,073 M
STARTED 1986 EMPLOYES 67
COMMENT
TRADING FIRM SPECIALIZING IN
FOODS & CHEMICALS
FINANCIAL SITUATION COSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The
subject company is an independent food materials wholesaler, established in
1986. Boasts the largest domestic market
share in products such as Vitamin C, processed mango products and pasteurized
milk. Handles a wide range of food
materials from food supplements, such as Vitamin C, to milk, dairy products and
other private brand beverages for convenience stores, and agricultural products
including tealeaves and fruit juice.
Advancing also into specified health food materials. Operates a high number of procurement bases
in Japan & overseas, as well as a subsidiaries in Singapore &
China. Has a general wholesaling
subsidiary in USA. Acquired Sun Honest
Co Ltd, a mfr & retailer of ice cream, in 2010, aiming to sell products to
cafes, etc.
FINANCIAL
INFORMATION
The sales volume for Mar/2017 fiscal term amounted to Yen
28,121 million, a 1.15% up from Yen 27,802 million in the previous term. The recurring profit was posted at Yen 331
million and the net profit at Yen 202 million, respectively, compared with Yen
271 million recurring profit and Yen 163 million net profit, respectively, a
year ago.
For the current term ending Mar 2018 the recurring profit is
projected at Yen 430 million and the net profit at Yen 280 million, on a 6.68%
rise in turnover, to Yen 30,000 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
REGISTRATION
Date Registered: Jul 1986
Regd No.: 0104-01-083638 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha
Authorized: 12 million shares
Issued:
3,150,000 shares
Sum: Yen 363
million
Major shareholders (%): Bienna Co (14.6), Green Core
Ltd (9.5), Employees’ S/Holding Assn (3.5), Ryoichi Suzuki (3.1), Hideki Oguchi
(2.8), Ito En (2,8), SBI Securities (2.2), Toshihide Aogaki (1.5), Kaga
Electronics (1.3), Hiroyuki Konishi (1.3); foreign owners (19.5)
No. of shareholders:12,728
Listed on the S/Exchange (s) of:
Tokyo (second section)
Managements: Hideki Oguchi, pres; TRyuichiro
Yoshida, v ch; Shigemasa Jinno, v pres; Keisuke Awano, s/mgn dir; Kazuki Date,
s/mgn dir; Motomu Sato, mgn dir; Ayumi Aoyagi, dir; Hiroshi Kubota, dir;
Nobuhiko Kasumi dir; Tetsuharu Hirota, dir
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports,
exports and wholesales foods, such as sugar, milk, cream, butter, cheese, ice
cream, fruits juice, fresh/frozen fruits & vegetables, canned/bottled
foods, powder, spices, sauce, teas, coffee, frozen/chilled foods, food
packaging & wrapping materials, fine chemicals (lactic acid, liquefied
carbonic acid gas, skin absorptive agents, other (96%); manufacturing &
marketing (1%), others (3%).
Clients: [Food processors] Ito En Ltd,
Gold-Pack Co, Suntory Business Expert, Seiko Fresh Foods, DaiDo Drinko, UCC
Ueshima Coffee, Nihon Canpack, Family Mart, Asahi Soft Drinks, Gold Pack,
Ryohin Keikaku, Delmont Japan, Kirin Beverages, Nihon Kajitsu Kogyo Co,
Miyazaki-Pref Nokyo Juice, other
No. of
accounts: 800
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Meiji Co, Nihon
Prime Co, DIC Corp, UCC Ueshima Coffee, Yashima Corp, Chemi Com Japan Corp,
Kurashima Nyugyo, Family Mart, Ito-En Ltd, Matsutani Chemical Ind, other.
Also
imports from Germany, France, UK, Indonesia, Brazil, USA, other.
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Ebisu)
Mizuho Bank (Shinjuku-Minamiguchi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2018 |
31/03/2017 |
31/03/2016 |
31/03/2015 |
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Annual Sales |
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30,000 |
28,121 |
27,802 |
27,677 |
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Recur. Profit |
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430 |
331 |
271 |
157 |
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Net Profit |
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280 |
202 |
163 |
121 |
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Total Assets |
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8,709 |
7,581 |
7,333 |
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Current Assets |
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7,504 |
6,404 |
6,153 |
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Current Liabs |
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5,256 |
4,447 |
4,253 |
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Net Worth |
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2,073 |
1,896 |
1,818 |
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Capital, Paid-Up |
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363 |
363 |
363 |
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Div.Ttl in Million (¥) |
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94.943 |
94.943 |
94.943 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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6.68 |
1.15 |
0.45 |
2.19 |
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Current Ratio |
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.. |
142.77 |
144.01 |
144.67 |
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N.Worth Ratio |
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23.80 |
25.01 |
24.79 |
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R.Profit/Sales |
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1.43 |
1.18 |
0.97 |
0.57 |
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N.Profit/Sales |
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0.93 |
0.72 |
0.59 |
0.44 |
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Return On Equity |
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.. |
9.74 |
8.60 |
6.66 |
Notes:
Forecast (or estimated) figures for the 31/03/2018 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.92 |
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1 |
INR 90.23 |
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Euro |
1 |
INR 80.54 |
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YEN |
1 |
INR 0.61 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VAR |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Promoters
/ Management background
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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.