MIRA
INFORM REPORT
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Report Date : |
11.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNITED MANAGERS JAPAN INC |
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Registered Office : |
Cosmic Bldg 5F, 1-2-8 Shiba-Daimon Minatoku Tokyo 105-0012 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
December 2004 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Investment Advisory Service to Overseas Funds |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 10.4 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
UNITED MANAGERS
JAPAN INC
REGD NAME: United Managers Japan KK
MAIN OFFICE: Cosmic Bldg 5F, 1-2-8 Shiba-Daimon Minatoku
Tokyo 105-0012 JAPAN
Tel:
03-5425-8270 Fax: 03-5425-8271
E-Mail
address:info@umi-jp.com
ACTIVITIES
Investment advisory service to overseas funds
LICENSES
Kanto FSA 1119: Japan Securities
Investment Advisor Industry Association membership No. 011-01362
BRANCHES
Singapore (UMJ Singapore Pte Ltd) (subsidiary manager of
funds)
OFFICER(S)
Makoto Takahashi, ch
MASAHIRO KOSHIBA, CEO
Rory John Kennedy
Yen
Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 193 M
PAYMENTS REGULAR CAPITAL Yen
69 M
TREND SLOW WORTH Yen 149 M
STARTED 2004 EMPLOYES 10
COMMENT
INVESTMENT ADVISOR.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR PROPER BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 10.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The
subject company was established by Masahiro Koshiba in order to make most of
his experience when he was with Deutsche Asset management & Edward Brogen
and Principles of Japan Advisory Ltd, for the purpose of proving investment
advice to overseas hedge funds. Opened
UMJ (Singapore) Pte Ltd in Mar 2005.
The subsidiary began role as investment manager to the Japan Alternative
Investment Energy Fund. In Mar 2006
acquired stock holdings of Japan advisory Ltd held by CEO Masahiro Koshiba.
FINANCIAL INFORMATION
The sales volume for Mar 2008
fiscal term amounted to Yen 193 million, an 81% drastic down from Yen 1,000
million in the previous term (the Yen 1,000 million figure is only estimated as
the firm did not disclose financials for the term. The slowdown of domestic stock market weighed heavily, the firm
the firm says. The operations plunged into
the red to post Yen 306 million net losses for the term. The firm reported retained earnings as at
the 31/03/2008 fiscal term at Yen 313 million, as against Yen 666 million for
the 31/03/2007 fiscal term.
For the current term ending Mar
2009 the operations are estimated to come back to profitability but still
limited to a minimum amount post-taxes, on a 2% fall in turnover, to Yen 190
million. The worldwide financial crisis
will hurt.
The financial situation is considered
maintained FAIR and good for PROPER business engagements. Max credit limit is estimated at Yen 10.4
million, on 30 days normal terms.
REGISTRATION
Date
Registered: Dec2004
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4,000 shares
Issued: 1,390
shares
Sum: Yen 69.5 million
Major shareholders (%)
Koshiba Holdings (90%)
No. of
shareholders: 3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Investment advisory service to overseas funds (--100%).
Clients
[Fund manager] UMJ Singapore Pte
Ltd
No. of accounts: 1
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
SMBC (Ginza)
Mizuho Bank (Machida)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2009 |
31/03/2008 |
31/03/2007 |
31/03/2006 |
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Annual
Sales |
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190 |
193 |
1,000 |
2,124 |
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Recur.
Profit |
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Net
Profit |
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0 |
-306 |
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282 |
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Total
Assets |
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430 |
904 |
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Current
Assets |
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182 |
700 |
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Current
Liabs |
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27 |
149 |
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Net
Worth |
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402 |
755 |
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Capital,
Paid-Up |
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69 |
69 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
-1.55 |
-80.70 |
-52.92 |
.. |
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Current Ratio |
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.. |
674.07 |
469.80 |
.. |
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N.Worth Ratio |
.. |
93.49 |
83.52 |
.. |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
0.00 |
-158.55 |
0.00 |
13.28 |
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Return On Equity |
.. |
-76.12 |
0.00 |
.. |
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Notes: Sales for the 31/03/2007 fiscal term (sales) are only
estimated as the firm did not disclose
Forecast (or estimated) figures for the 31/03/2009 fiscal
term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.71 |
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UK Pound |
1 |
Rs.72.85 |
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Euro |
1 |
Rs.64.70 |
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%)