MIRA
INFORM REPORT
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Report Date : |
21.05.2007 |
IDENTIFICATION DETAILS
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Name : |
TOWER INVESTMENT MANAGEMENT CO LTD |
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Registered Office : |
Sumitomo Shiba-Daimon Bldg Nigokan 2F, 1-12-16
Shiba-Daimon Minatoku |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
Feb
1990 |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Investment
Adviser |
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 421 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME
TOWER INVESTMENT MANAGEMENT CO LTD
REGD NAME
Tower Tohshi Komon
KK
MAIN OFFICE
Sumitomo Shiba-Daimon Bldg Nigokan 2F, 1-12-16 Shiba-Daimon
Minatoku
Tel:
03-5404-7722
Fax: 03-5404-7724
URL: http://www.towerim.com
E-Mail
address: Not specified
ACTIVITIES
Investment
Adviser
LICENSES
Minister
of Finance No. 165 granted 31/03/1992
Kanto
FSA No. 446 granted 08/06/1990
BRANCHES
Nil
OFFICERS
TETSUO
TANIMURA, PRES
Takenobu
Shimizu, dir
Mitsuharu
Muramatsu, dir
EMPLOYEES
Tatsuro
Kiyohara, operation manager, not registered as director
Masateru
Sekiya, ch & fund manager, not registered at director
Toshio
Nakajima, compliance adviser, not registered at director
Private
Phone numbers: Not registered, not disclosed for either Tetsuo
Tanimura or Tatsuro Kiyohara, as requested; all through the company’s phone or fax numbers directly.
RESIDENTIAL
ADDRESSES FOR THE REQUESTED TWO PERSONS:
Tetsuo
Tanimura: Seifu Garden 406, 1-11-45 Mita Minatoku
Tatsuro
Kiyohara: 502, 2-1-18 Shiba-Daimon Minatoku Tokyo
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 7,368 M
PAYMENTS REGULAR CAPITAL Yen 200 M
TREND STEADY WORTH Yen
2,194 M
STARTED 1990 EMPLOYES 17
COMMENT
INVESTMENT ADVISER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR PROPER BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 421 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Tetsuo Ohta in order to
make most of his experience in the subject line of business. This is an investment adviser centering on
pension funds. The information
and business results contained here are strictly scrutinized by the governing
authority of the Kanto FSA and all the information is obtained from the FSA.
FINANCIAL INFORMATION
The revenues for Mar/2006 fiscal term amounted to Yen 7,368
million, a 55% down from Yen 16,215 million in the previous term. The report submitted to the FSA says the
firm’s
The business results for the Mar/2007 term is under review by the Kanto FSA and will only be released after June onwards.
The financial situation is considered FAIR and good for PROPER business engagements. Max credit limit is estimated at Yen 421 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Feb 1990
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 16,000 shares
Issued: 4,000 shares
Sum: Yen
200 million
Major shareholders (%): The Seven Finance Ltd (
Client Service (1.5), Tetsuo Tanimura (1.4),
No. of shareholders: 139 (All figures as of Mar/06)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
Investment adviser (--100%).
Clients:
Financial institutions, employees’ pension funds, other
No. of
accounts: Limited
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers:
Stock markets, other
Payment
record: Regular
Location: Business area in
Bank References
MUFG
(Hamamatsucho)
Mizuho
Bank (Hamamatsucho)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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FINANCES: (Non-Consolidated
in million yen) |
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Terms Ending: |
31/03/2006 |
31/03/2005 |
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INCOME STATEMENT |
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Annual Sales |
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7,368 |
16,215 |
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Cost of Sales |
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GROSS PROFIT |
7,368 |
16,215 |
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Selling & Adm Costs |
6,340 |
14,549 |
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OPERATING PROFIT |
929 |
1,325 |
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Non-Operating P/L |
1 |
1 |
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RECURRING PROFIT |
930 |
1,326 |
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NET PROFIT |
533 |
802 |
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BALANCE SHEET |
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Cash |
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1,915 |
1,780 |
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Receivables |
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269 |
1,245 |
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Inventory |
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Securities, Marketable |
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Other Current Assets |
4 |
11 |
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TOTAL CURRENT ASSETS |
2,188 |
3,036 |
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Property & Equipment |
13 |
8 |
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Intangibles |
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1 |
1 |
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Investments, Other Fixed Assets |
73 |
77 |
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TOTAL ASSETS |
2,275 |
3,122 |
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Payables |
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6 |
3 |
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Short-Term Bank Loans |
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Other Current Liabs |
63,220 |
1,457 |
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TOTAL CURRENT LIABS |
63,226 |
1,460 |
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Debentures |
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Long-Term Bank Loans |
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Reserve for Retirement Allw |
17 |
1 |
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Other Debts |
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(63,163) |
0 |
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TOTAL LIABILITIES |
80 |
1,461 |
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MINORITY INTERESTS |
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Common
stock |
200 |
200 |
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Additional
paid-in capital |
20 |
20 |
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Retained
earnings |
1,974 |
1,441 |
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Evaluation
p/l on investments/securities |
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Others |
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0 |
0 |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
2,194 |
1,661 |
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TOTAL EQUITIES |
2,275 |
3,122 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2006 |
31/03/2005 |
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Net
Worth (S/Holders' Equity) |
2,194 |
1,661 |
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Current
Ratio (%) |
3.46 |
207.95 |
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Net
Worth Ratio (%) |
96.44 |
53.20 |
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Recurring
Profit Ratio (%) |
12.62 |
8.18 |
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Net
Profit Ratio (%) |
7.23 |
4.95 |
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Return
On Equity (%) |
24.29 |
48.28 |
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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%)