MIRA
INFORM REPORT
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Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
TOKIO MARINE ASSET MANAGEMENT CO LTD |
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Registered Office : |
Tokio Marine Nichido Bldg Annex 14F, 1-2-1 Marunouchi Chiyodaku Tokyo 100-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
December 1985 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Asset Management; Issuance, Management & Offering of Investment
Trusts |
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 173.0 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
TOKIO MARINE ASSET MANAGEMENT CO LTD
REGD NAME:
Tokyo Kaijo Asset Management Tohshin KK
MAIN OFFICE
Tokio Marine Nichido Bldg Annex 14F, 1-2-1 Marunouchi Chiyodaku Tokyo
100-0005 JAPAN
Tel: 03-3212-8421
URL
http://www.tokiomarineam.co.jp/
E-Mail address
ACTIVITIES
Asset management; issuance, management & offering of
investment trusts
LICENSES
Kanto FSA No. 361
BRANCHES
Tokio Marine Asset Management (New York); Tokio Marine Asset
Management
(London); Tokio Marine Asset Management International
(Singapore)
OFFICER(S)
YOICHIRO IWAMA, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 6,240 M
PAYMENTS REGULAR CAPITAL Yen 2,000 M
TREND STEADY WORTH Yen 2,587 M
STARTED 1985 EMPLOYES 150
COMMENT
INVESTMENT & ASSET MANAGEMENT FIRM, WHOLLY OWNED BY
TOKIO MARINE & NICHIDO FIRE INS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 173.0 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was
established by Tokio Marine Insurance Company as investment and asset
management firm, originally as Tokio Marine MC Asset Management Co Ltd. In Jun 1987, acquired a license to provide
discretionary investment management services.
In Oct 1990, established London Office.
In Apr 1991, started pension-fund management operations. Singapore Office was established in Sept
1997, and New York Office in July 2000.
In May 1998, acquired an investment trust license and changed name to
Tokio Marine Asset Management Co Ltd.
In Dec
1999, assets under management reached Yen 1 trillion, according to the
firm. In Dec 2002, started private
equity advisory service. In Oct 2003,
formed joint venture (Tokio Marine Rogge Asset Management) for foreign bond
investment. In Jun 2007, assets under
management reached Yen 5 trillion, the firm says.
FINANCIAL INFORMATION
The
sales volume for Mar/2007 fiscal term reportedly amounted to Yen 6,240 million,
a 3% up from Yen 6,058 million in the previous term. The net profit is said reached to Yen 1,200 million, up from Yen
1,197 million a year earlier. The
figures for Mar/2007 term are reported in rounded-off numbers.
For
the current term ending Mar 2008 the net profit is projected at Yen 1,300
million, on a 5% rise in turnover, to Yen 6,550 million. This is the only figure reported at this
writing.
The
financial situation is considered FAIR and good for PROPER business
engagements. Max credit limit is
estimated at Yen 173.0 million, on 30 days normal terms.
REGISTRATION
Date Registered:Dec 1985
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 40,000
shares
Issued: 40,000
shares
Sum: Yen
2,000 million
Major shareholders (%)
Tokio Marine & Nichido Fire
Ins*(100)
* Tops in non-life insurance
industry, under Milea Holdings Group, founded 1944, capital Yen 101,994
million, turnover Yen 647,292 million, recurring profit Yen 46,315 million, net
profit Yen 26,951 million, total assets Yen 21,035,385 million, net worth Yen
439,250 million, listed on Tokyo, Osaka & Nasdaq S/E’s under the name of
Milea Holdings Inc, pres Keisuke Yokoo.
Nothing detrimental is known as to ^the commercial morality
of executives.
OPERATION
Activities: Investment advisory
& discretionary management services; issuance, management and offering of
investment trusts (mutual funds) (100%)
Kanto FSA License No. 361;
Japan Security Investment
Advisors Association Membership No. 010-00100
Clients
Business firms, investors, other
No. of accounts
Unavailable
Domestic areas of activities
Nationwide
Suppliers
Security firms, trust banks,
other.
Payment record
Regular
Location
Business
area in Tokyo. Office premises at the caption
address are owned by the parent and maintained satisfactorily.
Bank References
MUFG (Shin-Marunouchi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual Sales |
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6,240 |
6,058 |
4,400 |
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Recur. Profit |
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2,067 |
1,096 |
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Net Profit |
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1,200 |
1,197 |
645 |
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Total Assets |
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5,443 |
4,027 |
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Current Assets |
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4,890 |
3,440 |
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Current Liabs |
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2,822 |
1,078 |
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Net Worth |
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2,587 |
2,915 |
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Capital, Paid-Up |
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2,000 |
2,000 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.00 |
37.68 |
.. |
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Current Ratio |
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173.28 |
319.11 |
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N.Worth Ratio |
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47.53 |
72.39 |
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R.Profit/Sales |
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34.12 |
24.91 |
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N.Profit/Sales |
19.23 |
19.76 |
14.66 |
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Return On Equity |
.. |
46.27 |
22.13 |
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Notes: Forecast (or estimated) figures for the 31/03/2008
fiscal term.
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%)