MIRA
INFORM REPORT
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Report Date : |
07.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
NOMURA ASSET MANAGEMENT CO LTD |
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Registered Office : |
1-12-1 Nihombashi Chuoku Tokyo 103-8265 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
December 1959 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Investment Management, Investment Advisory |
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 4,951.8 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
name & address
NOMURA ASSET
MANAGEMENT CO LTD
REGD NAME: Nomura Asset Management KK
MAIN OFFICE: 1-12-1 Nihombashi Chuoku Tokyo 103-8265 JAPAN
Tel:
03-3241-9511
URL: http://www.nomura-am.co.jp/
E-Mail address:info@nomura-am.co.jp
ACTIVITIES
Investment management, investment advisory
LICENSE
Kanto FSA No.373
BRANCHES
Osaka, Fukuoka, Sendai
OVERSEAS
USA, UK, Hong Kong, Singapore, Malaysia
OFFICER(S)
ATSUSHI YOSHIKAWA, PRES
Takahide Mizuno, v pres
Yasuo Yoshihara, s/mgn dir
Shigeru Fujinuma, s/mgn dir
Koichi Gotoh, s/mgn dir
Yukio Shirokawa, s/mg dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 94,482 M
PAYMENTS REGULAR CAPITAL Yen 17,180 M
TREND STEADY WORTH Yen 92,849 M
STARTED 1959 EMPLOYES 687
COMMENT
ASSET MANAGEMENT FIRM, WHOLLY OWNED BY NOMURA HOLDINGS
INC.
FINANCIAL SITUATION CONSIDERED FAIR TO EXCELLENT AND GOOD
FOR PROPER BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 4,951.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of an asset management division separated from Nomura securities Corp (now Nomura Holdings Inc). Merged two sister firms and has become the top-class investment firm in Japan. An investment management firm, offering investment trusts, investment advisory and discretionary management account business. Asset breakdown are twofold: investment trust and institutional investment management (See OPERATION)
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 94,482 million, a 61% up from Yen 58,869 million in the previous term. The recurring profit was posted at Yen 15,743 million and the net profit at Yen 16,810 million, respectively, compared with Yen 8,485 million recurring profit and Yen 10,917 million net profit, respectively, a year ago.
For the term that ended Mar 2008 the net profit is projected at Yen 17,500 million, on a 30% rise in turnover, to Yen 123,000 million. Business is seen on the upswing.
The financial situation is considered FAIR to EXCELLENT and good for PROPER business engagements. Max credit limit is estimated at Yen 4,951.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec 1959
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 20 million shares
Issued: 5.15 million shares
Sum: Yen 17,180 million
Major shareholders (%)
Nomura Holdings Inc*(100)
* Largest securities firm having research arm, founded 1929, listed Tokyo, Osaka, Nagoya, Singapore, New York S/E’s, sales Yen 1,593,722 million, recurring loss Yen 64,588 million, net loss Yen 67,847 million, total assets Yen 26,298,798 million, net worth Yen 1,988,124 million, employees 18,026, pres Nobuyuki Koga
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Asset management offering investment trusts, institutional investment management, investment advisory, other (--100%)
Assets under
management:
Investment Trust: Bond Funds Yen 4,369.7 billion (25.4%); Open-type stock funds Yen 9,789.4 billion (57.0%); unit-type stock funs Yen 53.5 billion (0.3%); Private placement funds Yen 1,995.3 billion (11.6%); Nomura MMF Yen 967.7 billion (3.6%).
Institutional Investment Management: domestic public pension Yen 3,212.6 billion (45.4%); domestic private pension Yen1,255.0 billion (17.7%); overseas pension Yen 812.2 billion (11.5%); corporations & financial institutions Yen 43.6 billion (0.6%); others Yen 1,755.2 billion (24.8%)
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are owned by the parent, Nomura Holdings Inc, and maintained satisfactorily.
Bank References
MSBC (H/O)
Resona Bank (Nihombashi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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123,000
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94,482 |
58,869 |
43,607 |
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Recur.
Profit |
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15,743 |
8,485 |
4,480 |
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Net
Profit |
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17,500 |
16,810 |
10,917 |
2,191 |
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Total
Assets |
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127,657
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153,712
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Current
Assets |
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58,221 |
81,050 |
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Current Liabs |
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27,279 |
16,781 |
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Net
Worth |
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92,849 |
124,282
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Capital,
Paid-Up |
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17,180 |
17,180 |
17,180 |
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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 |
30.18 |
60.50 |
35.00 |
18.36 |
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Current Ratio |
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.. |
213.43 |
482.99 |
.. |
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N.Worth Ratio |
.. |
72.73 |
80.85 |
.. |
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R.Profit/Sales |
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.. |
16.66 |
14.41 |
10.27 |
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N.Profit/Sales |
14.23 |
17.79 |
18.54 |
5.02 |
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Return On Equity |
.. |
18.10 |
8.78 |
.. |
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Notes: Forecast (or estimated) figures for the 31/03/2008 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.43.37 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.68.08 |
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%)