MIRA INFORM REPORT

 

 

Report Date :

11.05.2007

 

IDENTIFICATION DETAILS

 

Name :

UNITED TRAVEL STUDY SERVICE LTD (UTS)

 

 

Registered Office :

Shintaiso Bldg Ichigokan 10F, 2-10-7 Dogenzaka Shibuyaku Tokyo 150-0043

 

 

Country :

Japan

 

 

Financials (as on) :

30.09.2006

 

 

Date of Incorporation :

Dec 1976

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Travel agency, overseas study services arrangement

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 12 millions

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name

 

UNITED TRAVEL STUDY SERVICE LTD (UTS)

 

 

REGD NAME

 

KK U. T. S.

 

 

MAIN OFFICE

 

Shintaiso Bldg Ichigokan 10F, 2-10-7 Dogenzaka Shibuyaku Tokyo 150-0043 JAPAN

Tel: 03-3496-1777   

Fax: 03-3496-2646

URL: http://www.uts-japan.co.jp

E-Mail address: info@uts-japan.co.jp

 

 

ACTIVITIES

 

Travel agency, overseas study services arrangement

 

 

LICENSE

 

Travel agency #714, granted from the Ministry of Land, Infrastructure & Transport

 

 

BRANCHES

 

Nil

 

 

OFFICERS

 

KEN’ICHI IKENO, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 661 M

PAYMENTS      REGULAR                     CAPITAL           Yen 91 M

TREND             STEADY                       WORTH            Yen 127 M

STARTED         1976                             EMPLOYES      12

 

COMMENT

 

TRAVEL AGENCY.   FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 12 MILLION, 30 DAYS NORMAL TERMS.  .

 

 

HIGHLIGHTS

           

The subject company was established originally in 1971 by Ken’ichi Ikeno when he was Hosei University student, as Student International Society (non-profit organization), and was incorporated in 1976, as UTS Japan Ltd.  In this year he was appointed as Japan representative for College of International Education, Oxford, and started sending students to the college for language studies.  In 1985, the firm was granted the travel agency license (#971) from the     Ministry of Land, Infrastructure and Transport and launched the travel agency division.  Offers overseas travel, language studies, home stay, and etc arrangement centrally in UK. Operations cover 6 English-speaking countries and 4 others.  Travel arrangement includes guided tours in London and UK.  Clients are universities, university coops, other, centering in greater-Tokyo.

 

 

FINANCIAL INFORMATION

           

Financials are only partially available.

 

The sales volume for Sept/2006 fiscal term amounted to Yen 661 million, an 8% up from Yen 614 million in the previous term.  While the number of clients handled remained almost similar, the weaker Yen against foreign currencies, particularly Euros, raised the sales amount in Yen terms.  The net profit, on the other hand, remained similar at Yen 4 million, due to rising costs of operations, according to the firm.

 

For the current term ending Sept 2007 the net profit is projected at Yen 5 million, on a 3% rise in turnover, to Yen 680 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 12 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:            Dec 1976

Legal Status:                 Limited Company (Kabushiki Kaisha)

Authorized:                    240,000 shares

Issued:                          60,000 shares

Sum:                            Yen 91,08 million

Major shareholders (%): Ken’ichi Ikeno (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

 

Activities: Travel agency (100%): plans, arranges and executes overseas travels, language studies, home stays, guided tours, other.

 

Language studies are centrally to College of International Education, Oxford, for which Ken’ichi Ikeno is Japan representative.

 

Clients: [Universities, university coops] National Federation of University Cooperative Assn, Hosei University, Meiji University, Nippon University, other  

 

No. of accounts: 500

 

Domestic areas of activities: Nationwide

 

Suppliers: [Airlines, colleges, travel agents] British Airways, Alfa Travel Service, JAL International, JAL Tours, other.  Also, College of International Education, Oxford, etc.

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

 

Bank References

 

Mizuho Bank (Shibuya-Chuo)

Tokyo Tomin Bank (Shibuya)

 

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

 

Terms Ending:

　

30/09/2007

30/09/2006

30/09/2005

30/09/2004

Annual Sales

　

680

661

614

590

Recur. Profit

　

..

..

..

..

Net Profit

　

5

4

4

1

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

127

123

119

Capital, Paid-Up

　

　

91

91

91

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

2.87

7.65

4.07

24.21

       Current Ratio

 

 

..

..

..

       N.Worth Ratio

 

..

..

..

       N.Profit/Sales

0.74

0.61

0.65

0.17

 

Note: Financials are only partially disclosed.

Forecast (or estimated) for the 30/09/2007 fiscal term.

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions