MIRA
INFORM REPORT
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Report Date : |
21.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
BANK OF TOKYO-MITSUBISHI UFJ LTD |
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Registered Office : |
2-7-1 Marunouchi Chiyodaku Tokyo 100-8388 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
August 1919 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Banking Business Operations |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 9,786.5 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
name & address
BANK OF TOKYO-MITSUBISHI UFJ LTD
REGD NAME: KK Mitsubishi Tokyo
UFJ Ginko
MAIN OFFICE: 2-7-1 Marunouchi
Chiyodaku Tokyo 100-8388 JAPAN
Tel:
03-3240-1111
* The given
address is its Komaki Branch
E-Mail address: Not
specified
ACTIVITIES
Banking business operations
BRANCHES
794 domestic; 81 overseas
OFFICER(S)
KATSUNORI NAGAYASU, PRES
Nobuo Kuroyanagi, ch
Ryosuke Tamakoshi, v pres
Norimichi Kanenari, v pres
Takamune Okihara, v pres
Ryuichi Murata, v pres
Kazuo Sasa, v pres
Takao Kawanishi, s/mgn dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 4,789,628 M
PAYMENTS REGULAR CAPITAL Yen 996,973 M
TREND STEADY WORTH Yen 8,890,555 M
STARTED 1919 EMPLOYES 33,059
COMMENT
BANK, GROUP OF MITSUBISHI UFJ FINANCIAL GROUP INC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR PROPER
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 9,786.5 MILLION, 30 DAYS NORMAL TERMS
Notes:
Forecast (or estimated) for the 31/03/2008 fiscal term.
HIGHLIGHTS
The subject company was born by the merger of Bank of Tokyo-Mitsubishi Ltd and UFJ Bank in Jan 2006. This is the largest city bank in Japan, belonging to Mitsubishi UFJ Financial Group Inc (See REGISTRATION). In Jun 2006 completed the payment of publicly injected funds. The group offers banking, trust banking and securities businesses. Operates 794 branch offices nationwide and 81 overseas. The given address is one of its branch offices.
(Recent news from Nikkei Newspaper dated 27/Mar/2008): Mizuho Corporate Bank and Bank of Tokyo-Mitsubishi will extend nearly 400 million dollars in loans each to Tata Motors Ltd to finance Tata’s 2.3 billion dollar purchase of Jaguar and Land Rover units of Ford Motor Co, as reported. Tata is seeking a 3 billion dollar syndicated loans from consortium of Indian and overseas banks. Each of the eight co-lead managers of the syndicate will lend up to nearly 400 million dollars. The syndicate also includes State Bank of India, Citigroup Ind, JP Morgan Chase & Co, other.
FINANCIAL INFORMATION
The revenues for Mar/2007 fiscal term amounted to Yen 4,879,528 million, a 65.9% up from Yen 2,941,816 million in the previous term. The merger fully contributed. By divisions, Banking up by Yen 1,061,900 million to Yen 4,242,900 million; Credit Card Div posted Yen 490,100 million revenues and Yen 9,900 million recurring profit. This division became independent from other divisions as from this fiscal term. The recurring profit was posted at Yen 1,178,476 million and the net profit Yen 744,484 million, respectively, compared with Yen 687,515 million recurring profit and Yen 484,147 million net profit, respectively, a year ago.
(Apr/Sept/2007 results): Revenues Yen 2,555,737 million, recurring profit Yen 325,618 million, net profit Yen 164,140 million, total assets Yen 153,277751 million, net worth Yen 8,694,532 million. (Comparison with the corresponding period a year ago is not available).
For the term just ended Mar 2008 the recurring profit was projected at Yen 1,180,000 million and the net profit at Yen 750,000 million, respectively, on a 2.5% rise in turnover, to Yen 5,000,000 million.
The financial situation is considered FAIR and good for PROPER business engagements. Max credit limit is estimated at Yen 9,786.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug 1919
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 15,000 million shares
Issued: 10,614,661,942 shares
Sum: Yen 996,973 million
Major shareholders (%)
Mitsubishi UFJ Financial Group Inc, holding company with core subs engaging in banking, trust banking and securities businesses, Tokyo, founded 2001, listed Tokyo, Osaka, Nagoya & New York S/E’s, capital Yen 1,383,052 million, revenues Yen 6,094,033 million, current profit Yen 1,457,080 million, net profit Yen 880,997 million, total assets Yen 187,281,022 million, net worth Yen 8,520,264 million, employees 950, pres Nobuo Kuroyanagi
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Banking business operator, operating 794 domestic offices and 81 overseas (--100%)
Clients
Consumers, business firms, financial institutions, other
No. of accounts
3,000
Domestic areas of activities
Nationwide
Payment record: Regular
Location
Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
FINANCES: (In Million Yen)
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FINANCES: (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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4,879,528 |
2,941,816 |
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Cost of Sales |
2,058,842 |
1,142,027 |
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GROSS PROFIT |
2,820,686 |
1,799,789 |
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Selling & Adm Costs |
1,642,208 |
1,102,273 |
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OPERATING PROFIT |
1,178,478 |
697,516 |
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Non-Operating P/L |
0 |
-10,001 |
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RECURRING PROFIT |
1,178,478 |
687,515 |
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NET PROFIT |
744,484 |
484,147 |
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BALANCE SHEET |
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Cash |
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7,814,091 |
11,274,216 |
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Receivables |
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Inventory |
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Securities, Marketable |
40,973,430 |
42,246,750 |
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Other Current Assets |
46,378,895 |
2,655,443 |
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TOTAL CURRENT ASSETS |
95,166,416 |
56,176,409 |
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Property & Equipment |
1,463,692 |
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Intangibles |
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158,294 |
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Investments, Other Fixed Assets |
59,074,646 |
104,596,550 |
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TOTAL ASSETS |
155,863,048 |
160,772,959 |
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Payables |
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107,212,604 |
107,528,644 |
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Short-Term Bank Loans |
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Other Current Liabs |
19,736,811 |
25,454,749 |
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TOTAL CURRENT LIABS |
126,949,415 |
132,983,393 |
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Debentures |
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5,131,672 |
5,415,141 |
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Long-Term Bank Loans |
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Reserve for Retirement Allw |
48,129 |
51,622 |
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Other Debts |
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14,843,276 |
13,824,158 |
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TOTAL LIABILITIES |
146,972,492 |
152,274,314 |
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MINORITY INTERESTS |
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1,724,584 |
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Common
stock |
996,973 |
996,973 |
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Additional
paid-in capital |
2,767,590 |
2,767,590 |
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Retained
earnings |
1,914,971 |
1,620,151 |
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Evaluation
p/l on investments/securities |
1,431,320 |
1,187,117 |
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Others |
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1,779,701 |
202,228 |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
8,890,555 |
6,774,059 |
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TOTAL EQUITIES |
155,863,048 |
160,772,959 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2007 |
31/03/2006 |
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Cash
Flows from Operating Activities |
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-4,963,523 |
-4,595,900 |
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Cash
Flows from Investment Activities |
2,422,088 |
561,152 |
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Cash
Flows from Financing Activities |
-347,870 |
2,408 |
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Cash,
Bank Deposits at the Term End |
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2,526,701 |
5,413,714 |
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ANALYTICAL RATIOS Terms
ending: |
31/03/2007 |
31/03/2006 |
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Net
Worth (S/Holders' Equity) |
8,890,555 |
6,774,059 |
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Current
Ratio (%) |
74.96 |
42.24 |
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Net
Worth Ratio (%) |
5.70 |
4.21 |
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Recurring
Profit Ratio (%) |
24.15 |
23.37 |
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Net
Profit Ratio (%) |
15.26 |
16.46 |
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Return
On Equity (%) |
8.37 |
7.15 |
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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. |
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%)