MIRA
INFORM REPORT
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Report Date : |
16.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
PLAYER INC |
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Registered Office : |
5-17-3 Higashi-Gotanda Shinagawaku Tokyo |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
May 1999 |
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Com. Reg. No.: |
(Tokyo) 0107-02-009971 |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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Line of Business : |
Sale and Purchase of Securities, Investment Advisor, Sale and
Purchase of Real Estate, its management & related (as
outlined in the Registration Certificate). |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
PLAYER INC
REGD NAME: YK Player
MAIN OFFICE: c/o P & Vac Corp, Dai-Hyaku Seimei Bldg
5F, 2-1-9 Shinjuku Shinjukuku Tokyo
160-0022 JAPAN
Tel: 03-5368-2251 Fax:
03-5368-2253
*
Registered Address at: 5-17-3 Higashi-Gotanda Shinagawaku Tokyo;
registered address only & no office
space.
FINDINGS: The subject firm has business tie-up with P
& Vac Corp and uses its office for business contact and correspondence.
URL: http://www.pvac.co.jp/ (of business partner: P &
Vac Corp)
E-Mail
address (thru the URL)
ACTIVITIES
Sale & purchase of securities, investment advisor, sale
& purchase of real estate, its
management & related (as outlined in the Registration Certificate).
OFFICER(S)
MICHIKO TAKEDA, DIRECTOR
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen Not disclosed
PAYMENTS REGULAR CAPITAL Yen 5 M
TREND STEADY WORTH Yen
5 M*
STARTED 1998 EMPLOYES 1
* Expressed by the paid-up capital
COMMENT
INVESTMENT ADVISOR.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR PROPER BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: FINANCIALS ARE
CONSOLIDATED BY THE PARENT, NIPPON COMPUTER SYSTEM CO LTD AND NO INDIVIDUAL
FINANCIALS ARE DISCLOSED. ANY CREDITS
ARE RECOMMENDED WITH PARENT’S GURANTEED TERMS ATTACHED, WHOSE CREDIT LIMIT IS
ESTIMATED AT YEN 733 MILLION, ON 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Michiko Takeda in
order to make most of her previous experience in the subject line of
business. This is an investment advisor
focusing on sale & purchase of securities, fund investment & operation,
sale & purchase of real estate, and its management & operation and
related business. The firm does not
disclose its management & financial details except outlined herein. We have obtained the Registration
Certificate and most of the information is cited from the Certificate. No other database has any further
information, either. The given address
is where P & VAC Corp*, a business consultant, is located, and all business
operations are carried out by its subsidiary, P & Vac Financial Corp*, on
business tie-up as consigned by the subject firm. All correspondence matters and business operations are handled by
the firm. The firm is affiliated to and
consolidated subsidiary of Nippon Computer System Co Ltd (See REGISTRATION for
details).
* P & Vac Corp, business
consultant targeting mainly China, founded 2000, capital Yen 30 million, pres
Yoshinori Yamato; having two subsidiaries:
P & Vac Financial Corp, financial advisor, founded 2004,
capital Yen 10 million;
P & Vac Human Corp,
outplacement service business, founded 1988, capital Yen 14 million: both
managed by Yoshinori Yamato
FINANCIAL INFORMATION
Financials
are consolidated by Nippon Computer System Co Ltd and no individual financials
are disclosed. Consolidated Financials
are as attached (See SUPPLEMENTS)
The
financial situation is considered FAIR and good for PROPER business engagements
on back of the financial strength of the parent, Nippon Computer System Co
Ltd. Max credit limit of the parent is
estimated at Yen 733 million, on 30 days normal terms. All credits for the subject firm are
recommended with strict guarantee of the parent firm.
REGISTRATION
Date
Registered: May 1999
Regd
No: (Tokyo) 0107-02-009971
Regd
At: 5-17-3
Higashi-Gotanda Shinagawaku Tokyo
Legal
Status: Private
Limited Company (Yugen Gaisha)
Regd
Capital: Yen 5
million
Major shareholders (%)
Nippon Computer System &
Michiko Takeda (breakdown unavailable)
No. of
shareholders: 2
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Investment advisor (100%): sale &
purchase of securities, fund investment & management, sale & purchase of
real estate, its management and operation, and the related business, as
outlined in the Registration Certificate.
Business tie-up with P & Vac
Financial Corp and operations are understood being carried out by the firm.
Payment
record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References
SMBC (Shinjuku-Nishiguchi)
Relations: Satisfactory
FINANCES: (In Million Yen)
CONSOLIDATED
FINANCIALS OF NIPPON COMPUTER SYSTEM CO LTD
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2008 |
31/03/2007 |
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INCOME STATEMENT |
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Annual Sales |
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20,953 |
19,075 |
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Cost of Sales |
16,746 |
15,181 |
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GROSS PROFIT |
4,206 |
3,893 |
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Selling & Adm Costs |
3,853 |
3,713 |
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OPERATING PROFIT |
353 |
180 |
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Non-Operating P/L |
-55 |
86 |
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RECURRING PROFIT |
298 |
266 |
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NET PROFIT |
114 |
118 |
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BALANCE SHEET |
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Cash |
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3,233 |
3,678 |
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Receivables |
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6,191 |
6,300 |
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Inventory |
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953 |
895 |
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Securities, Marketable |
0 |
70 |
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Other Current Assets |
514 |
495 |
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TOTAL CURRENT ASSETS |
10,891 |
11,438 |
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Property & Equipment |
340 |
528 |
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Intangibles |
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59 |
61 |
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Investments, Other Fixed Assets |
4,165 |
4,656 |
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TOTAL ASSETS |
15,455 |
16,683 |
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Payables |
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568 |
741 |
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Short-Term Bank Loans |
295 |
515 |
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Other Current Liabs |
3,531 |
3,494 |
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TOTAL CURRENT LIABS |
4,394 |
4,750 |
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Debentures |
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390 |
970 |
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Long-Term Bank Loans |
185 |
405 |
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Reserve for Retirement Allw |
2,309 |
2,196 |
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Other Debts |
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59 |
45 |
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TOTAL LIABILITIES |
7,337 |
8,366 |
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MINORITY INTERESTS |
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Common
stock |
3,775 |
3,775 |
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Additional
paid-in capital |
4,055 |
4,056 |
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Retained
earnings |
428 |
405 |
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Evaluation
p/l on investments/securities |
(39) |
186 |
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Others |
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11 |
9 |
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Treasury
stock, at cost |
(112) |
(115) |
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TOTAL S/HOLDERS` EQUITY |
8,118 |
8,316 |
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TOTAL EQUITIES |
15,455 |
16,683 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2008 |
31/03/2007 |
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Cash
Flows from Operating Activities |
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381 |
-420 |
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Cash
Flows from Investment Activities |
648 |
120 |
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Cash
Flows from Financing Activities |
-1,209 |
-167 |
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Cash,
Bank Deposits at the Term End |
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3,233 |
3,411 |
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ANALYTICAL RATIOS Terms
ending: |
31/03/2008 |
31/03/2007 |
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Net
Worth (S/Holders' Equity) |
8,118 |
8,316 |
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Current
Ratio (%) |
247.86 |
240.80 |
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Net
Worth Ratio (%) |
52.53 |
49.85 |
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Recurring
Profit Ratio (%) |
1.42 |
1.39 |
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Net
Profit Ratio (%) |
0.54 |
0.62 |
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Return
On Equity (%) |
1.40 |
1.42 |
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FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.33 |
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UK Pound |
1 |
Rs.73.92 |
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Euro |
1 |
Rs.66.69 |
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%)