MIRA
INFORM REPORT
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Report Date : |
03.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
NTT ADVANCED TECHNOLOGY CORPORATION |
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Registered Office : |
Shinjuku Mitsui Bldg, 2-1-1 Nishishinjuku Shinjukuku
Tokyo 165-0431 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
December 1976 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Provider of Network Solutions, Technology
Support, Systems Solutions |
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 1,200.3 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
NTT ADVANCED TECHNOLOGY CORPORATION
REGD NAME: KK NTT Advanced Technology
MAIN OFFICE: Shinjuku Mitsui Bldg, 2-1-1 Nishishinjuku Shinjukuku Tokyo 165-0431 JAPAN
Tel: 03-5325-0711 Fax: 03-5326-7831
E-Mail address: info@ntt-at.co.jp
ACTIVITIES
Provider of network solutions,
technology support, systems solutions
BRANCHES
Nil
OFFICER(S)
SHIGEHIKO SUZUKI, PRES
Yukio Hishida, v pres
Akira Nagai, v pres
Ryuichi Yasuhara, s/mgn dir
Nobuyoshi Akiyama, s/mgn dir
Kazuyoshi Tateishi, s/mg dir
Yen Amount
In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 56,358 M
PAYMENTS REGULAR CAPITAL Yen 5,000 M
TREND STEADY WORTH Yen 9,544 M
STARTED 1976 EMPLOYES 1,676
COMMENT
PPROVIDER OF TECHNOLOGY SUPPORT,
NETWORK SOLUTIONS, OTHER, WHOLLY OWNED
BY NIPPON TELEGRAPH & TELEPHONE CORP (NTT).
FINANCIAL SITUATION CONSIDERED
FAIR TO GOOD AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 1,200.3 MILLION, 30 DAYS
NORMAL TERMS
HIGHLIGHTS
The subject company was
established by Nippon Telegraph & Telephone Corp (commonly known as NTT)
;as a specialized provider of technical support, network solutions, system
solutions, research analysis
& consulting services (See OPERATION).
FINANCIAL INFORMATION
The sales volume for Mar/2007
fiscal term amounted to Yen 56,358 million, an almost similar turnover in the
previous term. The recurring profit was
posted at Yen 2,899 million and the net profit at Yen 1,681 million,
respectively, compared with Yen 2,820 million recurring profit and 1,399
million net profit, respectively, a year ago.
Cost-saving efforts including restructuring effected to raise profits.
For the current term ending Mar
2008 the recurring profit is projected at Yen 2,900 million and the net profit
at Yen 1,700 million, respectively, on a 7% rise in turnover, to Yen 60,000
million. Easy access systems from
mobile phones will contribute to sales growth.
The financial situation is
considered FAIR to GOOD and responsible for ORDINARY business engagements. Max credit limit is estimated at Yen 1,200.3 million, on 30 days
normal terms.
REGISTRATION
Date
Registered: Dec 1976
Legal
Status: Limited Company (Kabushiki
Kaisha)
Authorized: 4.48 million shares
Issued: 1.12 million shares
Sum:
Yen 5,000 million
Major shareholders (%)
Nippon Telegraph & Telephone
Corp*(100)
*.. Japan’s largest common
carrier, converted from public to private company in 1985, Tokyo, listed Tokyo,
Osaka, Nagoya, New York, London S/E’s, capital Yen 937,950 million, turnover
Yen 10,760,550 million, operating profit Yen1,107,015 million, recurring profit
Yen 1,138,001 million, net profit Yen 476,907 million, total assets Yen
18,365,775 million, net worth Yen 7,172,610 million, employees 199,733,
pres Satoshi Miura
Consolidated Financials are as
attached (See SUPPLEMENTS)
Nothing detrimental is known as to
the commercial morality of executives.
OPERATION
Activities: Provider of technology transfer support, network solutions, system solutions, re search/analysis & consulting services, wholly owned by NTT (--100%).
(Business Items):
Leading-Edge Technologies: prototyping products employing fiber-optics, optical devices, super-micro processing, LSI & materials technologies; design, development & marketing of environment-related products; Network Solutions: design, development, testing & evaluation of access/core network tech nologies & systems; design, construction, management services for LANs, etc; System Solutions: design, development and marketing of information distribution and com-munication technologies & systems; Research, Analysis & Consulting Services: intellectual property related services (surveys & analysis); research & related consulting services for telecommunication traffic, human interface design, etc.
Clients
Common carriers, business firms,
governments, local municipalities, other
No. of accounts
Unavailable
Domestic areas of activities
Nationwide
Suppliers
Common carriers, business firms,
other
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References
Mizuho
Corporate Bank (H/O)
SMBC
(Nishishinjuku)
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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60,000 |
56,358 |
56,209 |
49,287 |
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Recur. Profit |
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2,900 |
2,899 |
2,820 |
2,435 |
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Net Profit |
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1,700 |
1,681 |
1,399 |
1,381 |
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Total Assets |
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29,215 |
27,584 |
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Current Assets |
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23,654 |
21,865 |
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Current Liabs |
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19,002 |
19,002 |
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Net Worth |
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9,544 |
7,977 |
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Capital, Paid-Up |
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5,000 |
5,000 |
5,000 |
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Div.P.Share(¥) |
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309.00 |
75.00 |
125.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.46 |
0.27 |
14.04 |
12.84 |
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Current Ratio |
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.. |
124.48 |
115.07 |
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N.Worth Ratio |
.. |
32.67 |
28.92 |
.. |
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R.Profit/Sales |
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4.83 |
5.14 |
5.02 |
4.94 |
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N.Profit/Sales |
2.83 |
2.98 |
2.49 |
2.80 |
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Return On Equity |
.. |
17.61 |
17.54 |
.. |
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Notes: Forecast (or estimated)
figures for the 31/03/2008 fiscal term.
SUPPLEMENTS:
CONSOLIDATED FINANCIALS OF THE PARENT, NIPPON TELEGRAPH
& TELEPHONE CORP
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FINANCES: (Consolidated in million yen) |
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Terms Ending: |
31/03/2007 |
31/03/2006 |
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INCOME STATEMENT |
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Annual Sales |
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10,760,550 |
10,741,136 |
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Cost of Sales |
2,325,712 |
2,297,264 |
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GROSS PROFIT |
8,434,838 |
8,443,872 |
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Selling & Adm Costs |
7,327,823 |
7,253,172 |
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OPERATING PROFIT |
1,107,015 |
1,190,700 |
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Non-Operating P/L |
30,986 |
115,163 |
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RECURRING PROFIT |
1,138,001 |
1,305,863 |
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NET PROFIT |
476,907 |
498,685 |
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BALANCE SHEET |
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Cash |
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796,255 |
1,410,837 |
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Receivables |
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2,102,435 |
1,792,948 |
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Inventory |
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309,097 |
391,603 |
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Securities, Marketable |
11,190,155,957 |
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Other Current Assets |
(11,189,472,576) |
658,900 |
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TOTAL CURRENT ASSETS |
3,891,168 |
4,254,288 |
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Property & Equipment |
10,423,812 |
10,435,905 |
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Intangibles |
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1,329,714 |
1,323,695 |
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Investments, Other Fixed Assets |
2,721,081 |
2,872,307 |
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TOTAL ASSETS |
18,365,775 |
18,886,195 |
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Payables |
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1,446,681 |
1,524,746 |
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Short-Term Bank Loans |
414,290 |
480,406 |
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Other Current Liabs |
1,869,842 |
1,967,477 |
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TOTAL CURRENT LIABS |
3,730,813 |
3,972,629 |
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Debentures |
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Long-Term Bank Loans |
3,510,370 |
3,916,087 |
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Reserve for Retirement Allw |
1,534,993 |
1,684,741 |
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Other Debts |
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565,005 |
680,061 |
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TOTAL LIABILITIES |
9,341,181 |
10,253,518 |
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MINORITY INTERESTS |
1,851,984 |
1,853,151 |
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Common stock |
937,950 |
937,950 |
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Additional paid-in capital |
2,844,103 |
2,843,108 |
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Retained earnings |
4,127,421 |
3,747,265 |
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Evaluation p/l on
investments/securities |
172,558 |
158,291 |
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Others |
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0 |
0 |
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Treasury stock, at cost |
(909,422) |
(907,088) |
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TOTAL S/HOLDERS` EQUITY |
7,172,610 |
6,779,526 |
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TOTAL EQUITIES |
18,365,775 |
18,886,195 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2007 |
31/03/2006 |
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Cash Flows from Operating Activities |
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2,361,289 |
3,242,896 |
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Cash Flows from Investment
Activities |
-2,150,990 |
-2,077,262 |
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Cash Flows from Financing Activities |
-831,830 |
-1,139,903 |
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Cash, Bank Deposits at the Term End |
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796,255 |
1,410,837 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2007 |
31/03/2006 |
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Net Worth (S/Holders' Equity) |
7,172,610 |
6,779,526 |
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Current Ratio (%) |
104.30 |
107.09 |
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Net Worth Ratio (%) |
39.05 |
35.90 |
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Recurring Profit Ratio (%) |
10.58 |
12.16 |
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Net Profit Ratio (%) |
4.43 |
4.64 |
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Return On Equity (%) |
6.65 |
7.36 |
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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%)