MIRA INFORM REPORT
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Report Date : |
13.09.2011 |
IDENTIFICATION DETAILS
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Name : |
JTB COMMUNICATIONS INC |
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Registered Office : |
IK Bldg 3F, 2-24-9 Kamiosaki Shinagawaku
Tokyo 141-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
April 2010 |
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Com. Reg. No.: |
(Tokyo-Shinagawaku) 023536 |
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Legal Form : |
Limited Company |
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Line of Business : |
Market research, analysis,
advertizing, event & convention planning |
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 238.2 Million |
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Status : |
Satisfactory |
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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
JTB COMMUNICATIONS INC
REGD NAMe
KK JTB
Communications
MAIN OFFICE
IK Bldg 3F, 2-24-9
Kamiosaki Shinagawaku Tokyo 141-0021 JAPAN
Tel:
03-5434-8160 Fax: 050-3737-1861
URL: www.jtbcom.co.jp
E-mail: info@jtbcom.co.jp
ACTIVITIES
Market
research, analysis, advertizing, event & convention planning
BRANCHES
Osaka,
Sendai
OVERSEAS
Beijing
OFFICER(S)
KAZUHISA
MAEDA, PRES Yoichiro Shimizu, mgn
dir
Masashi
Inoue, dir Ritsuo
Watanabe, dir
Yen
Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 21,470 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND STEADY WORTH Yen
544 M
STARTED 2010 EMPLOYES 438
COMMENT
MARKET
RESEARCH COMPANY, OWNED BY JTB CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 238.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1988 on the basis of
an advertizing division separated from JTB Corp (See REGISTRATION), and was reorganized in 2010 by merging a sister
company, J-Com KK. This is a total
marketing research company offering planning advertizing, event &
convention planning, other. Clients
include government agencies, research institutes, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 21,470
million, a 166% up from Yen 8,064 million in the previous term. This is the result of the said merger. Sales rose. The net profit was posted at Yen
157 million, compared with Yen 20 million a year ago. .
For the current term ending Mar 2012 the net profit is projected at Yen
160 million, on a 5% rise in turnover, to Yen 22,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 238.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 2010
Regd No.: (Tokyo-Shinagawaku) 023536
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 8,000
shares
Issued: 4,800
shares
Sum: Yen 100 million
Major shareholders (%): JTB
Corp* (99), McCann Erickson Japan Inc (1)
No. of shareholders: 2
*.. JTB Corp, Tokyo, travel agency, founded 1963, capital Yen 2,304
million, turnover Yen 1,166,680 million,
operating profit Yen 8,190 million, recurring profit Yen 7,372 million, net
profit Yen 5,048 million, total assets Yen 501,479 million, net worth Yen
119,204 million, employees 26,218, pres Hiromi Tagawa
Consolidated Financials are attached (See SUPPLEMENTS)
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Market research company,
offering marketing research & analysis, advertising, event & convention
planning, other (--100%)
Clients: [Government
agencies, research institutes, business firms] JTB Corp, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Agencies] JTB
Corp, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
· Mizuho Bank (Meguro)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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21,470 |
8,064 |
9,463 |
8,882 |
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Recur.
Profit |
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150 |
103 |
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Net
Profit |
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157 |
20 |
52 |
38 |
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Total
Assets |
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2,287 |
2,716 |
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Current
Assets |
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1,875 |
2,332 |
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Current
Liabs |
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1,727 |
1,177 |
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Net
Worth |
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435 |
1,496 |
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Capital,
Paid-Up |
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100 |
100 |
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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 |
166.25 |
-14.78 |
6.54 |
-0.09 |
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Current Ratio |
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.. |
108.57 |
198.13 |
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N.Worth Ratio |
.. |
19.02 |
55.08 |
.. |
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R.Profit/Sales |
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.. |
1.86 |
1.09 |
.. |
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N.Profit/Sales |
0.73 |
0.25 |
0.55 |
0.43 |
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Return On Equity |
.. |
4.60 |
3.48 |
.. |
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Notes: Resulted figures for the 31/03/2011
fiscal term.
SUPPLEMENTS
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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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1,166,680 |
1,121,280 |
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Cost of Sales |
909,459 |
871,630 |
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GROSS PROFIT |
257,221 |
249,650 |
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Selling & Adm Costs |
249,031 |
253,042 |
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OPERATING PROFIT |
8,190 |
-3,392 |
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Non-Operating P/L |
-818 |
-1,724 |
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RECURRING PROFIT |
7,372 |
-1,668 |
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NET PROFIT |
5,048 |
-14,557 |
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BALANCE SHEET |
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Cash |
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92,130 |
56,958 |
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Receivables |
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86,216 |
105,355 |
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Inventory |
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6,277 |
5,422 |
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Securities, Marketable |
12,889 |
12,008 |
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Other Current Assets |
73,966 |
87,771 |
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TOTAL CURRENT ASSETS |
271,478 |
267,514 |
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Property & Equipment |
68,066 |
75,748 |
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Intangibles |
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22,214 |
28,487 |
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Investments, Other Fixed Assets |
139,721 |
148,580 |
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TOTAL ASSETS |
501,479 |
520,329 |
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Payables |
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83,174 |
112,196 |
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Short-Term Bank Loans |
6,653 |
6,587 |
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Other Current Liabs |
227,289 |
111,700 |
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TOTAL CURRENT LIABS |
317,116 |
341,483 |
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Debentures |
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Long-Term Bank Loans |
225 |
208 |
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Reserve for Retirement Allw |
13,365 |
11,999 |
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Other Debts |
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51,569 |
47,439 |
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TOTAL LIABILITIES |
382,275 |
401,129 |
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MINORITY INTERESTS |
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Common
stock |
2,304 |
2,304 |
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Additional
paid-in capital |
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Retained
earnings |
126,142 |
121,917 |
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Evaluation
p/l on investments/securities |
(4,420) |
(2,212) |
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Others |
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(4,822) |
(2,809) |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
119,204 |
119,200 |
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TOTAL EQUITIES |
501,479 |
520,329 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
119,204 |
119,200 |
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Current
Ratio (%) |
85.61 |
78.34 |
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Net
Worth Ratio (%) |
23.77 |
22.91 |
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Recurring
Profit Ratio (%) |
0.63 |
-0.15 |
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Net
Profit Ratio (%) |
0.43 |
-1.30 |
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Return
On Equity (%) |
4.23 |
-12.21 |
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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.46.97 |
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UK Pound |
1 |
Rs.74.22 |
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Euro |
1 |
Rs.63.66 |
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.