MIRA
INFORM REPORT
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Report Date : |
28.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
NTT COMMUNICATIONS CORPORATION |
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Registered Office : |
NTT Hibiya Bldg, 1-1-6 Uchisaiwaicho Chiyodaku Tokyo 100-0011 |
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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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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Global IP Solution Company |
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 30,220.8 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
name & address
NTT COMMUNICATIONS
CORPORATION
REGD NAME: NTT Communications KK
MAIN OFFICE: NTT Hibiya Bldg, 1-1-6 Uchisaiwaicho Chiyodaku
Tokyo 100-0011 JAPAN
Tel:
03-3500-8111 Fax: 03-3539-3084
URL: http://www.ntt.com/
E-Mail address:info@ntt.com
ACTIVITIES
Global IP solution company
BRANCHES
Sapporo, Sendai, Chiba, Nagoya, Osaka, Fukuoka, other (Tot
17)
OVERSEAS
USA (7), Europe (5), China (2), other
OFFICER(S)
HIROMI WASAI, PRES
Masayuki Nomura, v pres
Akira Arima, v pres
Masae Tamura, v pres
Osamu Inoue, mgn dir
Koichi Maeda, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 972,343 M
PAYMENTS REGULAR CAPITAL Yen 211,763 M
TREND STEADY WORTH Yen 537,934 M
STARTED 1999 EMPLOYES 8,750
COMMENT
GLOBAL IＰSOLUTION COMPANY
FINANCIAL SITUATION CONSIDERED FAIR TO GOOD AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 30,220.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a division separated from NTT Data Communications in order to advance in global IP business. Specializes in providing IP business: Internet services, IP telephone service, OCN Hikari with Flets, ADSL, other. Boasts top share in Internet service providing as OCN.
FINANCIAL INFORMATION
The sales volume for Mar/2008 fiscal term amounted to Yen 972,343 million, a 1.6% down from Yen 988,343 million in the previous term. Competition on subscribing charges were severe, The net profit was improved, however, to Yen 62,7774 million, up from Yen 30,356 million a year ago.
For the current term ending Mar 2009 the net profit is projected at Yen 60,000 million, on an inch up, to Yen 980,000 million.
The financial situation is considered GOOD and good for ORDINARY business engagements. Max credit limit is estimated at Yen 30,220.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: May 1999
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 16,000 million shares
Issued: 4,235 shares
Sum: Yen 211,763 million
Major shareholders (%)
Nippon Telegraph & Telephone Corp*(100)
* Japan’s largest
common carrier, privatized in 1985 from public company, founded 1985, listed
Tokyo S/E, capital Yen 937,950 million, sales Yen 10,680,891 million, operating
profit Yen 1,304,609 million, recurring profit Yen 1,322,291 million, net
profit Yen 45,107 million, total assets Yen 18,518,779 million, net worth
Yen7,410,761 million, employees 193,871, pres Satoshi Miura
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Global IP solutions provider: Internet service, telephone service, OCN Hikari (optical fiber usage), OCN ADSL service, OCN Mobile service, other (--100%).
Clients
Business firms, individual subscribers, other.
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers
[Telecommunications carriers] NTT East Japan, NTT West Japan, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Mizuho Corporate Bank (H/O)
MUFG (H/O)
Relations: Satisfactory
FINANCES: (In Million Yen)
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FINANCES: (Non-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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972,343 |
988,373 |
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Cost of Sales |
877,830 |
917,851 |
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GROSS PROFIT |
94,513 |
70,522 |
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Selling & Adm Costs |
162,936 |
132,694 |
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OPERATING PROFIT |
104,730 |
77,348 |
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Non-Operating P/L |
7,295 |
476 |
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RECURRING PROFIT |
112,025 |
77,824 |
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NET PROFIT |
62,774 |
30,356 |
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BALANCE SHEET |
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Cash |
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48,819 |
30,384 |
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Receivables |
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200,443 |
213,299 |
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Inventory |
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7,125 |
8,044 |
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Securities, Marketable |
10 |
10 |
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Other Current Assets |
59,886 |
92,796 |
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TOTAL CURRENT ASSETS |
316,283 |
344,533 |
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Property & Equipment |
456,633 |
462,233 |
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Intangibles |
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111,182 |
135,031 |
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Investments, Other Fixed Assets |
418,025 |
470,662 |
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TOTAL ASSETS |
1,302,123 |
1,412,459 |
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Payables |
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51,399 |
174,472 |
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Short-Term Bank Loans |
103,923 |
122,345 |
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Other Current Liabs |
202,496 |
73,475 |
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TOTAL CURRENT LIABS |
357,818 |
370,292 |
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Debentures |
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Long-Term Bank Loans |
310,842 |
464,286 |
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Reserve for Retirement Allw |
70,681 |
82,555 |
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Other Debts |
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24,842 |
(587,675) |
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TOTAL LIABILITIES |
764,183 |
329,458 |
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MINORITY INTERESTS |
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Common
stock |
211,763 |
211,762 |
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Additional
paid-in capital |
131,615 |
131,615 |
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Retained
earnings |
139,293 |
85,520 |
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Evaluation
p/l on investments/securities |
55,261 |
22,322 |
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Others |
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20,527 |
(2,010) |
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Treasury
stock, at cost |
(20,525) |
(20,310) |
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TOTAL S/HOLDERS` EQUITY |
537,934 |
428,899 |
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TOTAL EQUITIES |
1,302,123 |
1,412,459 |
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ANALYTICAL RATIOS Terms
ending: |
31/03/2008 |
31/03/2007 |
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Net
Worth (S/Holders' Equity) |
537,934 |
428,899 |
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Current
Ratio (%) |
88.39 |
93.04 |
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Net
Worth Ratio (%) |
41.31 |
30.37 |
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Recurring
Profit Ratio (%) |
11.52 |
7.87 |
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Net Profit
Ratio (%) |
6.46 |
3.07 |
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Return
On Equity (%) |
11.67 |
7.08 |
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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.42.79 |
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UK Pound |
1 |
Rs.85.04 |
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Euro |
1 |
Rs.67.39 |
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%)