MIRA
INFORM REPORT
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Report Date : |
03.08.2007 |
IDENTIFICATION DETAILS
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Name : |
BROAD TV CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Mar 2001 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Application Service Provider
(ASP) |
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 75.4 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
BROAD TV CO LTD
REGD NAME
KK Broad TV
MAIN OFFICE
Tel : 078-858-5050
Fax : 078-858-5060
URL : http://www.broad.tv/
E-Mail
address: info@broad.tv
ACTIVITIES
Application
Service Provider (ASP)
BRANCHES
OFFICERS
TOHRU
SHOJI, PRES Shinji
Akazawa, rep ch
Noriyuki
Masuyama, s/mgn dir Hiroyuki
Nakada, dir
Hideo
Nakanishi, dir Ichiro Idemura, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,257 M
PAYMENTS REGULAR CAPITAL Yen 545 M
TREND STEADY WORTH Yen
1,322 M
STARTED 2001 EMPLOYES 37
COMMENT
APPLICATION SOFT PROVIDER. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 75.4 MILLION, 30 DAYS
HIGHLIGHTS
The subject company was established by Tohru Shoji in order to advance into broadband TV service providing business. Categorized as application software provider, the firm provides broadband TV telephone system, broadband TV meeting system, broadband contents distribution service, room theater service, other. Clients include hotels, hospitals, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 3,257 million, a 28% up from Yen 2,542 million in the previous term. The profits decreased to Yen 60 million recurring profit and Yen 20 million net profit, from Yen 345 million recurring profit and Yen 182 million net profit a year ago. The firm is in the preparation stage to IPO. Costs and expenses for the IPO preparation ate into profits.
For the current term ending Mar 2008 the net profit is projected at Yen 100 million, on a 7% rise in turnover, to Yen 3,500 million. New broadband systems are in the pipeline.
The financial situation is considered FASIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 75.4 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Mar 2001
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 23,080 shares
Issued: 23,080 shares
Sum: Yen
545 million
Major shareholders (%): Hyogo Small & Medium Business Promotion Center, Sumitomo Corp, Commuture Co,
Forval Corp, Minato Capital, Big Sons, other (Detailed breakdown unavailable)
No. of shareholders: 20 (about)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
ASP service provider: VOD business (75%), MOIP, other services (--25%).
(Business contents):
Broadband TV telephone service (BBtel); broadband TV conference services (BBmeeting); Broadband contents distribution services; VOD services of room theater system; Internet TV call center system, other.
Clients: [Hotels, hospitals, business firms] Apa Hotel, Super Hotel, Hotel Alpha One Systems, Washington Hotel, Root-In Japan, other.
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, telecommunication carriers] Net CODEC, Dell, other.
Payment
record: Regular
Location: Business area in
Bank References
SMBC
(Sannomiya)
Ikeda
Bank (
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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FINANCES: (Non-Consolidated
in million yen) |
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Terms Ending: |
31/03/2007 |
31/03/2006 |
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INCOME STATEMENT |
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Annual Sales |
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3,257 |
2,542 |
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Cost of Sales |
2,440 |
1,661 |
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GROSS PROFIT |
817 |
881 |
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Selling & Adm Costs |
694 |
507 |
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OPERATING PROFIT |
123 |
373 |
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Non-Operating P/L |
-63 |
-28 |
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RECURRING PROFIT |
60 |
345 |
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NET PROFIT |
20 |
182 |
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BALANCE SHEET |
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Cash |
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496 |
1,293 |
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Receivables |
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876 |
862 |
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Inventory |
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328 |
112 |
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Securities, Marketable |
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Other Current Assets |
283 |
218 |
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TOTAL CURRENT ASSETS |
1,983 |
2,485 |
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Property & Equipment |
187 |
28 |
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Intangibles |
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762 |
474 |
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Investments, Other Fixed Assets |
635 |
342 |
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TOTAL ASSETS |
3,567 |
3,329 |
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Payables |
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167 |
265 |
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Short-Term Bank Loans |
700 |
337 |
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Other Current Liabs |
477 |
197 |
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TOTAL CURRENT LIABS |
1,344 |
799 |
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Debentures |
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320 |
360 |
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Long-Term Bank Loans |
581 |
868 |
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Reserve for Retirement Allw |
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Other Debts |
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0 |
1 |
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TOTAL LIABILITIES |
2,245 |
2,028 |
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MINORITY INTERESTS |
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Common
stock |
1,322 |
545 |
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Additional
paid-in capital |
545 |
387 |
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Retained
earnings |
387 |
368 |
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Evaluation
p/l on investments/securities |
12 |
(176) |
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Others |
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(944) |
177 |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
1,322 |
1,301 |
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TOTAL EQUITIES |
3,567 |
3,329 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2007 |
31/03/2006 |
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Net Worth
(S/Holders' Equity) |
1,322 |
1,301 |
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Current
Ratio (%) |
147.54 |
311.01 |
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Net
Worth Ratio (%) |
37.06 |
39.08 |
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Recurring
Profit Ratio (%) |
1.84 |
13.57 |
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Net
Profit Ratio (%) |
0.61 |
7.16 |
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Return
On Equity (%) |
1.51 |
13.99 |
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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%)