MIRA INFORM REPORT
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Report Date : |
09.08.2011 |
IDENTIFICATION DETAILS
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Name : |
TAITO CORPORATION |
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Registered Office : |
Shinjuku Bunka Bldg 15F, 3-22-7 Yoyogi
Shibuyaku Tokyo 151-0053 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
June 2009 |
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Com. Reg. No.: |
(Tokyo-Shibuyaku) 060972 |
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Legal Form : |
Limited Company |
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Line of Business : |
Game Center Operator |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 1,906.5 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
---- |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Japan |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
TAITO CORPORATION
REGD NAME
KK Taito
MAIN OFFICE
Shinjuku Bunka Bldg
15F, 3-22-7 Yoyogi Shibuyaku Tokyo 151-0053 JAPAN
Tel:
03-6361-8350 Fax: 03-3378-8265
E-Mail address: info@taito.co.jp
ACTIVITIES
Game
center operator
BRANCHES
29
game centers nationwide
FACTORIES
Ebina
(Kanagawa) (R&D center)
OFFICERS
YOICHI
WADA, PRES Yukio
Iizawa, dir
Riichi
Kojima, dir Koichi
Ishii, dir
Tomiyuki
Kanayama, dir Kazuhiko
Yamato, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 46,226 M
PAYMENTS REGULAR CAPITAL Yen 1,500 M
TREND SLOW WORTH Yen
25,960 M
STARTED 2009 EMPLOYES 637
COMMENT
GAME CENTER OPERATOR.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1,906.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a game center operation
division separated from Taito Corporation, mfr of amusement game software,
equipment, Tokyo. The firm is now owned
by Square Enix Holdings Co Ltd (See REGISTRATION). This is a game center operator, operating 29
amusement centers nationwide. It also
rents amusement equipment, game software, other.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 46,226 million, a 6% down from Yen 49,000 million in the initial accounting term the previous year. Operations were hurt by the damage from the Mar 11 Earthquake, shutting down some of the stores. The operations plunged into the red to register Yen 2,756 million net losses for the term. It wrote off Yen 1,712 million extraordinary losses for the term. This compares with Yen 922 million net profit a year ago.
For the current term ending Mar 2012 the recurring profit is projected
at Yen 360 million and the net profit at Yen 250 million, respectively, on a 5%
rise in turnover, to Yen 48,500 million.
Expanded & improved software for social games & contents for
smartphones will provide support.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 1,906.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 2009
Regd No.: (Tokyo-Shibuyaku) 060972
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,200 shares
Issued: 300
shares
Sum: Yen 1,500 million
Major shareholders (%): Square Enix Holdings Co Ltd*
(100)
*..Major developer of
home-use game software, Tokyo, founded 1980, listed Tokyo S/E, capital Yen 15,204 million, sales Yen 125,271
million, operating profit Yen 7,325 million, recurring profit Yen 5,390
million, net losses Yen 12,043 million, total assets Yen 206,336 million, net
worth Yen 135,143 million, employees 1,297, pres Yoichi Wada, concurrently
Consolidated Financials are attached (See SUPPLEMENTS).
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Operates
amusement game centers, operating 29 facilities nationwide; develops commercial
& home-use game software, game playing machines/equipment, other (--100%).
Clients: Individual
visitors, consumers, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sega Enterprises, Make East, Konami Digital Entertainment, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Shibuya)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
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48,500 |
46,226 |
49,000 |
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Recur.
Profit |
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360 |
341 |
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Net
Profit |
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250 |
-2,756 |
922 |
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Total
Assets |
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38,719 |
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Current
Assets |
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17,625 |
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Current
Liabs |
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9,995 |
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Net
Worth |
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25,960 |
28,716 |
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Capital,
Paid-Up |
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1,500 |
1,500 |
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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 |
4.92 |
-5.66 |
- - -.. |
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Current Ratio |
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.. |
176.34 |
.. |
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N.Worth Ratio |
.. |
67.05 |
.. |
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R.Profit/Sales |
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0.74 |
0.74 |
.. |
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N.Profit/Sales |
0.52 |
-5.96 |
1.88 |
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Return On Equity |
.. |
-10.62 |
3.21 |
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Notes:
The 31/03/2010 fiscal term is the initial accounting term from the inception.
Forecast
(or estimated) figures for the 31/03/2012 fiscal term.
SUPPLEMENTS
CONSOLIDTED FINANCIALS OF THE PARENT,
SQUARE ENIX HOLDINGS CO LTD
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2011 |
31/03/2010 |
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INCOME STATEMENT |
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Annual Sales |
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125,271 |
192,257 |
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Cost of Sales |
75,846 |
108,536 |
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GROSS PROFIT |
51,691 |
84,538 |
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Selling & Adm Costs |
44,365 |
56,303 |
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OPERATING PROFIT |
7,325 |
28,235 |
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Non-Operating P/L |
-1,935 |
-413 |
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RECURRING PROFIT |
5,390 |
27,822 |
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NET PROFIT |
-12,043 |
9,509 |
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BALANCE SHEET |
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Cash |
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111,126 |
111,211 |
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Receivables |
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25,474 |
30,682 |
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Inventory |
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3,706 |
3,760 |
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Securities, Marketable |
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35,000 |
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Other Current Assets |
23,995 |
32,694 |
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TOTAL CURRENT ASSETS |
164,301 |
213,347 |
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Property & Equipment |
17,328 |
21,623 |
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Intangibles |
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10,324 |
21,623 |
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Investments, Other Fixed Assets |
14,383 |
13,936 |
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TOTAL ASSETS |
206,336 |
270,529 |
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Payables |
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7,777 |
10,666 |
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Short-Term Bank Loans |
1,338 |
2,808 |
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Other Current Liabs |
19,389 |
61,783 |
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TOTAL CURRENT LIABS |
28,504 |
75,257 |
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Debentures |
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35,000 |
35,000 |
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Long-Term Bank Loans |
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Reserve for Retirement Allw |
3,061 |
2,170 |
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Other Debts |
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4,627 |
3,844 |
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TOTAL LIABILITIES |
71,192 |
116,271 |
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MINORITY INTERESTS |
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Common
stock |
15,204 |
15,204 |
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Additional
paid-in capital |
44,444 |
44,444 |
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Retained
earnings |
82,711 |
98,848 |
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Evaluation
p/l on investments/securities |
(14) |
(9) |
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Others |
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64,850 |
(3,373) |
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Treasury
stock, at cost |
(859) |
(856) |
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TOTAL S/HOLDERS` EQUITY |
206,336 |
154,258 |
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TOTAL EQUITIES |
277,528 |
270,529 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2011 |
31/03/2010 |
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Cash
Flows from Operating Activities |
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14,827 |
20,838 |
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Cash
Flows from Investment Activities |
30,407 |
-53,774 |
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Cash
Flows from Financing Activities |
-42,354 |
31,707 |
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Cash,
Bank Deposits at the Term End |
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109,751 |
109,717 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
206,336 |
154,258 |
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Current
Ratio (%) |
576.41 |
283.49 |
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Net
Worth Ratio (%) |
74.35 |
57.02 |
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Recurring
Profit Ratio (%) |
4.30 |
14.47 |
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Net
Profit Ratio (%) |
-9.61 |
4.95 |
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Return
On Equity (%) |
-5.84 |
6.16 |
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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.44.96 |
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UK Pound |
1 |
Rs.73.94 |
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Euro |
1 |
Rs.64.56 |
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 |
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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---- |
NB |
New Business |
---- |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.