MIRA INFORM REPORT
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Report Date : |
23rd May 2006 |
IDENTIFICATION DETAILS
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Name : |
KEN REAL ESTATE LEASE
LTD |
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Registered Office : |
KN Nishiazabu Bldg 3F,
1-3-10 Nishiazabu Minatoku Tokyo 106-0031 Japan |
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Date of Incorporation : |
Apr 1977 |
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Legal Form : |
Limited
Company |
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Line of Business : |
Engaged in
the business of real estate owning, leasing, sale & purchase |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 58.7 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME
KEN REAL ESTATE LEASE LTD
REGD NAME
Ken Fudosan Lease KK (Fudosan means Real Estate)
MAIN OFFICE
KN Nishiazabu Bldg 3F, 1-3-10 Nishiazabu Minatoku
Tokyo 106-0031 JAPAN
Tel: 03-5413-5706
Fax: 03-5413-5674
URL: http://www.ken-realestate.jp/
E-Mail address: info@ken-lease.co.jp
ACTIVITIES
Real estate owning, leasing, sale &
purchase
License: Governor of Tokyo (8) No.
35247
BRANCHES
Nil
HOTELS & RESORTS
Domestic 16; overseas 5 (San Francisco,
Los Angels, Hawaii, Saipan and
Guam)
OFFICER(S)
Kensuke Tanaka, ch
SHIGERU SATOH, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen
1,318 M
PAYMENTS REGULAR CAPITAL Yen 50 M
TREND STEADY WORTH Yen 1,537 M
STARTED 1977 EMPLOYES 55
COMMENT
REAL ESTATE LEASING
COMPANY. FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 58.7 MILLION,
NORMAL 30 DAYS TERMS.
HIGHLIGHTS
The subject company was
established on the basis of a real estate leasing division separated from Ken
Corporation, real estate & building leasing firm, Tokyo. Kensuke Tanaka is concurrently pres of the
parent and Shigeru Satoh is s/mgn dir.
The firm reorganized in 1998 to diversify operations from the simple
real estate leasing business. The firm
has now three business divisions: Hotel Business Div; Residential housing Div;
and Office & Shopping Center Div.
The Hotel Business Div started Jun 2005 when the firm took over the
entire hotel operations from the parent.
At the present, the number of hotels invested total 21 facilities (16
domestic & 5 overseas) with approx 5,000 rooms (end of 2005). The firm aims to expand the number to 10,000
rooms within 2 years. Also actively
expanding into the Asian markets.
The sales volume for May/2005
fiscal term amounted to Yen 10,052 million, a 12% up from Yen 8,974 million in
the previous term. This is attributed
to the taking over of hotel business division (partially) from the parent, Ken
Corporation, the whole operations were transferred by Jun 2005. The recurring profit was posted at Yen 685
million and the net profit at Yen 334 million, respectively, compared with Yen
445 million and yen 291 million, respectively, a year ago.
For the current term ending May
2006 the recurring profit is projected at Yen 730 million and the net profit at
Yen 345 million, respectively, on a 9% rise in turnover, to Yen 11,000 million.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 58.7
million, on normal 30 days terms.
REGISTRATION
Date Registered: Apr
1977
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 4,000 shares
Issued: 1,000
shares
Sum: Yen 50 million
Major shareholders (%): Kensuke
Tanaka*(85), Shigeru Satoh**(15)
*.. Pres of Ken Corporation*** *.. S/mgn dir of Ken Corporation
***.. Real estate company,
providing total consulting services, Tokyo, founded 1982, capital 380 million,
turnover Yen 13,036 million, recurring profit Yen 2,963 million, net profit Yen
2,114 million total assets Yen 46,623 million, net worth Yen 7,992 million,
employees 376, pres Kensuke Tanaka
No. of shareholders: 2
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Real estate company,
offering leasing, management, investment, operation & related services for:
master leasing of premier rental flats, condominiums and houses (handling about
1,500 units), hotel owning, management and operations (currently 21 units:
domestic 16, overseas 5), owning and operation of office buildings and shopping
centers (--100%).
Clients: Tenants, business firms,
individuals, other
No. of accounts: Unavailable
Domestic areas of activities:
Nationwide
Suppliers: [Real estate owners, real
estate brokers] Ken Corporation, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References
Mizuho Bank (Azabu)
SMBC (Akasaka)
Relations: Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/05/2006 |
31/05/2005 |
31/05/2004 |
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Annual
Sales |
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11,000
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10,052
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8,974 |
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Recur.
Profit |
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730 |
685 |
445 |
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Net
Profit |
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345 |
334 |
291 |
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Total
Assets |
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20,854
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9,118 |
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Current
Assets |
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3,530 |
2,090 |
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Current
Liabs |
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4,312 |
1,815 |
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Net
Worth |
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1,537 |
1,313 |
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Capital,
Paid-Up |
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50 |
50 |
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Div.P.Share(¥) |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
9.43 |
12.01 |
8.89 |
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Current Ratio |
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.. |
81.86 |
115.15
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N.Worth Ratio |
.. |
7.37 |
14.40 |
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R.Profit/Sales |
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6.64 |
6.81 |
4.96 |
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N.Profit/Sales |
3.14 |
3.32 |
3.24 |
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Return On Equity |
.. |
21.73 |
22.16 |
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Notes: Forecast (or estimated) for the
31/05/2006 fiscal term.
RATING EXPLANATIONS
RATING
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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 |