MIRA
INFORM REPORT
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Report Date : |
26th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
MITSUBISHI UFJ FACTORS LIMITED |
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Registered Office : |
1-10 Kanda-Sakumacho Chiyodaku Tokyo 101-8637
Japan |
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Country : |
Japan |
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Financials (as on) : |
31-03-2005 |
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Date of Incorporation : |
Jun 1977 |
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Legal Form : |
Limited Company |
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Line of Business : |
Engaged in factoring services,
debt/receivables collection, credit guarantee business |
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 186 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
NAME
MITSUBISHI
UFJ FACTORS LIMITED
REGD NAME
Mitsubishi
UFJ Factor KK
MAIN OFFICE
1-10
Kanda-Sakumacho Chiyodaku Tokyo 101-8637 JAPAN
Tel:
03-3251-8351
Fax:
03-3255-6850
URL:http://www.muf.bk.mufg.jp/
E-Mail address: info@muf.bk.mufg.jp (General affairs)
ACTIVITIES
Factoring services, debt/receivables collection, credit guarantee
business
License: FSA#01393 (under Money-lending Control Law)
BRANCHES
Nagoya, Osaka
OFFICER(S)
Yasuki Ogasawara, ch SATOSHI HOSHINO, PRES
Yasuji Nakano, s/mg dir Hisao
Shimizu, s/mgn dir
Yoshiharu Aoki, mgn dir Fumitoshi
Shibusawa, mgn dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 9,127 M
PAYMENTS REGULAR CAPITAL Yen 2,080 M*
TREND STEADY WORTH Yen 7,842 M
STARTED 1977 EMPLOYES 298
*..
Capital increased to Yen 2,080 million in Oct 2005 from the former Yen 900 million,
but the capital increase is not reflected in the financials.
COMMENT
FACTORING SERVICING COMPANY, OWNED BY MITSUBISHI UFJ FINANCIAL
GROUP INC. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR PROPER BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 186 MILLION, NORMAL 30 DAYS TERMS.
Note: The financials are those of the former Diamond Factors Ltd.
HIGHLIGHTS
The subject company was established by Bank of Tokyo-Mitsubishi,
named as Diamond Factors Ltd, as factoring service and loan/credit/debt
collection servicing company. In Oct
2005, the firm absorbed UFJ Business Finance KK, when the former and UFJ Bank
were merged, and renamed as captioned.
This is a provider of factoring service, loan/debt collections, credit
guarantee service, payment/purchase fees collection services, other. The firm now belongs to Mitsubishi Financial
Group Inc (see REGISTRATION). The
financials for the newly merged firm has yet to be disclosed and the following
figures relate to the former body, Diamond Factors Ltd.
The sales volume for Mar/2005 fiscal term amounted to Yen 9,127
million (before the merger), a 10.4% up from Yen 8,264 million in the previous
term. Financial markets rapidly improved
with banks reporting record-high results.
The recurring profit was posted at Yen 2,201 million and the net profit
at Yen 3,336 million, respectively, compared with Yen 1,784 million recurring
profit and Yen 2,005 million net profit, respectively, a year ago.
For the term ended Mar/2006 the sales are believed reported at Yen
13,000 million, a 42% rise from the previous Yen 9,127 million. Full financials are yet to be disclosed and
the figures are estimated only, taking into the effect of the merger and
improving market situations.
The financial situation is considered FAIR and good for PROPER
business engagements. Max credit limit
is estimate at Yen 186 million, on normal 30 days terms. On the back of financial strength of the top
parent, Mitsubishi UFJ Financial Group Inc, the limit can be extended with guarantee.
REGISTRATION
Date Registered: Jun
1977
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 14.4 million shares
Issued: 3.6 million shares
Sum: Yen 2,080 million
Major shareholders (%): Mitsubishi UFJ Financial Group Inc* &
group firms (100)
*.. Holding company of Bank of Tokyo-Mitsubishi UFJ group firms
(total 152 subsidiaries as of Sept/2005), founded Apr 2001, capital Yen
1,383,052 million, turnover Yen 4,293,950 million (up 63.4%), recurring profit
Yen 1,078,061 million (up 61.7%), net profit Yen 770,719 million (up 127.7%),
total assets Yen 187,046793 million, net worth Yen 7,727,837 million, employees
44,326, pres Nobuo Kuroyanagi.
(All figures for the 31/03/2006 fiscal term; percentages in the
parenthesis are compared with the previous fiscal term).
(The
updated share owning ratios are unavailable).
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Factoring servicing company, licensed FSA#01393:
offering such services as factoring, credit guarantee, revolving guarantee,
debt/receivables collection, loans secured by account receivables, payment
guarantee, other related services (--100%).
Clients: Business firms, other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers: [Banks, financial institutions] Bank of
Tokyo-Mitsubishi UFJ, Mitsubishi Trust Bank, Hachijuni Bank, Joyo Bank,
Shizuoka Bank, other.
Payment record: Regular
Location: Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Bank of Tokyo-Mitsubishi UFJ (H/O)
Shizuoka Bank (Tokyo)
Relations: Satisfactory
FINANCES
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(Non-Consolidated in million yen) |
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Terms Ending: |
31/03/2005 |
31/03/2004 |
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INCOME STATEMENT |
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Annual
Sales |
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9,127 |
8,264 |
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Cost of
Sales |
4,905 |
4,394 |
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GROSS PROFIT |
4,222 |
3,870 |
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Selling
& Adm Costs |
2,023 |
2,092 |
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OPERATING PROFIT |
2,199 |
1,778 |
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Non-Operating P/L |
2 |
6 |
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RECURRING PROFIT |
2,201 |
1,784 |
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NET
PROFIT |
3,336 |
2,005 |
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BALANCE SHEET |
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Cash |
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12,239 |
7,533 |
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Receivables |
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365,119 |
294,866 |
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Inventory |
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Securities, Marketable |
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Other
Current Assets |
3,622 |
1,576 |
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TOTAL CURRENT ASSETS |
380,980 |
303,975 |
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Property
& Equipment |
10,329 |
10,491 |
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Intangibles |
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865 |
1,114 |
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Investments, Other Fixed Assets |
245 |
261 |
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TOTAL ASSETS |
392,419 |
315,841 |
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Payables |
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202,462 |
153,422 |
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Short-Term Bank Loans |
116,763 |
108,654 |
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Other
Current Liabs |
64,932 |
49,095 |
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TOTAL CURRENT LIABS |
384,157 |
311,171 |
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Debentures |
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Long-Term Bank Loans |
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Reserve
for Retirement Allw |
158 |
145 |
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Other
Debts |
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262 |
17 |
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TOTAL LIABILITIES |
384,577 |
311,333 |
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MINORITY INTERESTS |
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Common stock |
900 |
900 |
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Additional paid-in capital |
1 |
1 |
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Retained earnings |
6,919 |
3,583 |
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Evaluation p/l on investments/securities |
20 |
23 |
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Others |
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2 |
0 |
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Treasury stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
7,842 |
4,507 |
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TOTAL EQUITIES |
392,419 |
315,841 |
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ANALYTICAL RATIOS
Terms ending: |
31/03/2005 |
31/03/2004 |
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Net Worth (S/Holders' Equity) |
7,842 |
4,507 |
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Current Ratio (%) |
99.17 |
97.69 |
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Net Worth Ratio (%) |
2.00 |
1.43 |
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Recurring Profit Ratio (%) |
24.12 |
21.59 |
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Net Profit Ratio (%) |
36.55 |
24.26 |
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Return On Equity (%) |
42.54 |
44.49 |
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(Note: The financials are those for the former body, Diamond
Factors Ltd.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |