MIRA
INFORM REPORT
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Report Date : |
06.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
OCEAN ASSET MANAGEMENT CO LTD |
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Registered Office : |
Pacific City Shiba, 2-29-10 Shiba Minatoku Tokyo 105-0014 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
Oct 2005 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Investment advisory business |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 500000 |
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Status : |
Moderate |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
OCEAN ASSET MANAGEMENT CO LTD
REGD NAME
Ocean Asset Management KK
MAIN OFFICE
Pacific City Shiba, 2-29-10 Shiba Minatoku Tokyo 105-0014 JAPAN
Tel : 03-5439-5513
URL : N/A
ACTIVITIES
Investment advisory business
LICENSE
Kanto FSA No. 1464, granted 28/11/2005
BRANCHES
Nil
OFFICERS
TETSUYA HISATOMI, PRES Ryosuke
Fujii, dir
Takashi Yabuuchi, dir Hiroshi
Hamaguchi, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 7 M
PAYMENTS REGULAR CAPITAL Yen 19 M
TREND UNDETD WORTH Yen 16 M
STARTED 2005 EMPLOYES 5
COMMENT
INVESTMENT ADVISOR. FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT GOOD FOR PROPER BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 500,000.00, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established jointly by Takashi Yabuuchi
and Ryosuke Fujii in order to make utmost use of their previous experiences as
fund managers & analysts in the subject line of business. This is an investment advisor and fund
manager covering various sectors: telecommunications, internet, media,
materials, mfg, other. Business is
seen expanding steadily.
FINANCIAL INFORMATION
The advisory fees for the initial fiscal term ended Mar/2006 amounted to Yen 7 million, with Yen 2 million net losses reported. Losses are referred to overhead expenses.
For the term ended Mar/2007 the results are yet to be
released. The FSA is under review of
the performance results and financials submitted from the firm before approving
them. FSA says final results will be
made public in May onwards.
The financial situation is considered RATHER WEAK but should be
good for PROPER business engagements.
Max credit limit is estimated at Yen 500,000.00, on 30 days normal
terms.
REGISTRATION
Date Registered: Oct
2005
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1,520
shares
Issued: 380
shares
Sum: Yen
19 million
Major shareholders (%): Tetsuya Hisatomi (52.6), Ryosuke Fujii (47.4)
No. of shareholders: 2
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Investment advisory and fund management business
(--100%)
Licensed: Kanto FSA No. 1464, granted 28/11/2005
Business resulted: one advisory business on Yen 4,449
million assets.
Clients: Investors, both at home & abroad
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Nihombashi)
Relations: Satisfactory
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FINANCES (Non-Consolidated
in thousand yen) |
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Terms Ending: |
31/03/2006 |
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INCOME STATEMENT |
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Annual Sales |
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7,289 |
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Cost of Sales |
10,021 |
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GROSS PROFIT |
-2,732 |
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Selling & Adm Costs |
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OPERATING PROFIT |
-2,732 |
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Non-Operating P/L |
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RECURRING PROFIT |
-2,732 |
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NET PROFIT |
-2,807 |
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BALANCE SHEET |
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Cash |
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6,941 |
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Receivables |
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7,289 |
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Inventory |
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Securities, Marketable |
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Other Current Assets |
1,897 |
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TOTAL CURRENT ASSETS |
16,127 |
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Property & Equipment |
448 |
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Intangibles |
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Investments, Other Fixed Assets |
9,879 |
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TOTAL ASSETS |
26,454 |
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Payables |
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101 |
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Short-Term Bank Loans |
10,000 |
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Other Current Liabs |
160 |
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TOTAL CURRENT LIABS |
10,261 |
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Debentures |
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Long-Term Bank Loans |
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Reserve for Retirement Allw |
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Other Debts |
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0 |
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TOTAL LIABILITIES |
10,261 |
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MINORITY INTERESTS |
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Common
stock |
19,000 |
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Additional
paid-in capital |
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Retained
earnings |
(2,807) |
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Evaluation
p/l on investments/securities |
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Others |
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0 |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
16,193 |
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TOTAL EQUITIES |
26,454 |
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ANALYTICAL RATIOS Terms
ending: |
31/03/2006 |
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Net
Worth (S/Holders' Equity) |
16,193 |
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Current
Ratio (%) |
157.17 |
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Net
Worth Ratio (%) |
61.21 |
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Recurring
Profit Ratio (%) |
-37.48 |
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Net
Profit Ratio (%) |
-38.51 |
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Return
On Equity (%) |
-17.33 |
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Note: Financials have been obtained from Kanto FSA.
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)