MIRA INFORM REPORT

 

 

Report Date :           

24.06.2011

 

IDENTIFICATION DETAILS

 

Name :

BAIDU JAPAN INC

 

 

Registered Office :

Roppongi Hills Mori Tower 20F, 6-10-1 Roppongi Minatoku Tokyo 106-6120

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

December 2006

 

 

Com. Reg. No.:

 (Tokyo-Minatoku) 072693

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Internet Search Provider

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

Yen 111.5 million

Status :

Poor

Payment Behaviour :

Unknown

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

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name

 

 Bottom of Form

BAIDU JAPAN INC

 

 

REGD NAME 

 

Baidu KK

 

MAIN OFFICE

 

Roppongi Hills Mori Tower 20F, 6-10-1 Roppongi Minatoku Tokyo 106-6120 , JAPAN

                        Tel: 03-6811-2080          Fax: 03-6811-2081

                                               

URL:                             http://www.baidu.jp

E-Mail address:                        (thru the URL)

 

 

ACTIVITIES

 

Internet search provider

 

 

BRANCHES   

 

Nil

 

 

OFFICERS

 

Robin Li, ch*

ALAN ZHANG, PRES*

*.. Chinese residents                 

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    R/WEAK                       A/SALES          Yen 180 M

PAYMENTS      Unknown                   CAPITAL           Yen 460 M

TREND             UP                                WORTH            Yen (-) 10 M

STARTED                     2006                             EMPLOYES      48

 

 

COMMENT    

 

INTERNET SEARCH PROVIDER, OWNED BY BAIDU INC, CHINA.

 

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR PROPER BUSINESS ENGAGEMENTS.

                    

MAX CREDIT LIMIT: YEN 111.5 MILLION, 30 DAYS, RECOMMENDING FULLY SECURED TERMS ON NEW TRANSACTIONS.  NEGATIVE NET WORTH.

 

 

HIGHLIGHTS

           

The subject company was established by Baidu Inc, China, as its marketing office in Japan.  This is an Internet search provider.  Clients include major communications firms, other

 

 

FINANCIAL INFORMATION

           

Financials are only partially disclosed in rounded off numbers.

 

The sales volume for Dec/2010 fiscal term amounted to Yen 180 million, an 80% up from Yen 100 million in the previous term.  Contracted clients increased, says the firm.  The operations continued in the red to register Yen 150 million net losses, compared with Yen 160 million net losses a year ago.  No further comments are given.

           

The Chinese parent, Bandu Inc, reported for Mar/2011 financials (in million RMB): sales RMB 2,436 million, operating profit RMB 1,194 million, recurring profit RMB 1,251 million, net profit RMB 1,070 million, total assets RMB 12,438 million, net worth RMB 9,511 million (Unaudited).

 

For the current term ending Dec 2011 the operations are projected to come back to profitability but still limited to a minimum amount post-taxes, on an 11% rise in turnover, to Yen 200 million. 

 

The financial situation is considered RATHER WEAK but should be good for PROPER business engagements.  Max credit limit is estimated at Yen 111.5 million, on 30 days normal terms.  Recommends secured terms on new transactions.

 

 

REGISTRATION

 

Date Registered:  Dec 2006

Regd No.:           (Tokyo-Minatoku) 072693

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         9,200 shares

Issued:                9,200 shares

Sum:                   Yen 460 million

Major shareholders (%): Bandu Inc, China (100)

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Internet search provider (100%)

 

Clients: Business firms, consumers, other

            No. of accounts: Unavailable

            Domestic areas of activities: Nationwide

Suppliers: [Business firms, AD firms] Cisco Systems, Dentsu Inc, Hewlett Packard Japan, Dell, other

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

MUFG (Kojimachi-Chuo)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/12/2011

31/12/2010

31/12/2009

31/12/2008

Annual Sales

　

200

180

100

50

Recur. Profit

　

　

　

　

　

Net Profit

　

0

-150

-160

-160

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

-10

140

300

Capital, Paid-Up

　

　

460

460

460

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

11.11

80.00

100.00

400.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.00

-83.33

-160.00

-320.00

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/12/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.93

UK Pound

1

Rs.72.09

Euro

1

Rs.64.21

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

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%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.