MIRA INFORM REPORT

 

 

Report Date :           

09.04.2012

 

IDENTIFICATION DETAILS

 

Name :

JUPITER TELECOMMUNICATIONS CO LTD

 

 

Registered Office :

1-8-1 Marunouchi Chiyodaku Tokyo 100-0005

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

January 1995

 

 

Com. Reg. No.:

0100-01-132055 (Tokyo-Chiyodaku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Cable TV network operator

 

 

No. of Employees :

5,555

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

Yen 2,583.5 Million

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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, 2012

 

Country Name

Previous Rating

                   (31.12.2011)                  

Current Rating

(31.03.2012)

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

 

JUPITER TELECOMMUNICATIONS CO LTD

 

 

REGD NAME

 

Jupiter Telecommunications KK

 

 

MAIN OFFICE

 

1-8-1 Marunouchi Chiyodaku Tokyo 100-0005 JAPAN

Tel: 03-6765-8000     -

 

URL:                 http://www.jcom.co.jp

E-Mail address:            (thru the URL)

 

 

ACTIVITIES  

 

Cable TV network operator

 

 

BRANCHES

 

Nerima, Saitama, Fukuoka

 

 

CHIEF EXEC

 

SHOICHI MORI, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                 　A/SALES       Yen 369,073 M

PAYMENTS      REGULAR         　CAPITAL        Yen 117,550 M

TREND             UP                       WORTH         Yen 457,316 M

STARTED                     1995                 　EMPLOYES   5,555

 

COMMENT    

 

CABLE TV NETWORK OPERATOR 

 

FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 2,583.5 MILLION, 30 DAYS NORMAL TERMS

 

                        Unit: In Million Yen

Forecast figures for the 31/12/2012 fiscal term.

 

 

HIGHLIGHTS

 

This is Japan’s largest cable TV network operator.  Also offers high-sped Internet connection and telephone services.  Started dues-paying membership business such as video-on-demand and IP phone services.  The company, also known as J:Com.

 

 

FINANCIAL INFORMATION

 

The sales volume for Dec/2011 fiscal term amounted to Yen 369,073 million, a 2.5% up from Yen 360,112 million in the previous term.  Exports were hurt by the high Yen.  The recurring profit was posted at Yen 68,532 million and the net profit at Yen 37,238 million, respectively, compared with Yen 63,167 million recurring profit and Yen 37,690 million net profit, respectively, a year ago.  The firm reduced the mount of tax it had to pay in fiscal 2010 by liquidating an intermediary holding company.  This fall in net profit in fiscal 2011 came in reaction to the smaller tax burden the previous year. The company has more cable TV subscribers in fiscal 2011, but it failed to cover slide in profit.

 

For the current term ending Dec 2012 the recurring profit is projected at Yen 77,500 million and the net profit at Yen 41,500 million, on a 25% rise in turnover, to Yen 384,000 million.  The subscriber numbers are increasing, as fueled by expanded services that came with the complete switchover to digital-terrestrial broadcasting in July..

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 2,583.5 million, on 30 days normal terms.

 

REGISTRATION

           

Date Registered:　Jan 1995

Regd No.:         0100-01-132055 (Tokyo-Chiyodaku)

Legal Status:      Limited Company (Kabushiki Kaisha

Authorized:       15 million shares

Issued:                6,947,813 shares

Sum:                   Yen 117,550 million

 

Major shareholders (%): Sumitomo Corp (39.9), KDDI Corp (30.7), Trust & Custody Services fTT (2.7), Chase London SL Omnibus Acct (2.5), Mizuho Trust Sec Trust (2.2), JP Morgan Clearing Corp ((1.0), Morgan Stanley & Co (0.9), Northern Trust (0.8), State Street Bank & Trust (0.8), Deutsche Bank London (0.7); foreign owners (0.7); foreign owners (21.3)

 

No. of shareholders: ---

 

Listed on the S/Exchange (s) of: JASDAQ

 

Managements: Shuichi Mori, pres; Shunsuke Oyama, v pres; Tomoya Aoki, s/mgn dir; Mineo Fukuda, s/mgn dir; Toru Kato, dir; Shosuke Yamazoe, dir; Yoshiki Nakai, dir

 

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

 

Related companies: TA Philippine, TA Hong Kong, other.

 

 

OPERATION

           

Activities: Cable TV network operation (100%)

           

Clients: [Subscribers, users] J Com Kanto, J Com Tokyo, J Com Quest, other

            No. of accounts: 20,000

            Domestic areas of activities: Nationwide

 

Suppliers: [mfrs, wholesalers] Panasonic Corp, Pioneer Corp, Sumisho Information System, other

 

Payment record: Regular

 

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

 

Bank References:

SMBC (Tokyo)

MUFG (H/O)

Relations: Satisfactory

FINANCES

(In Million Yen)

 

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/12/2011

31/12/2010

INCOME STATEMENT

 

 

 

  Annual Sales

　

307,935

298,197

 

  Cost of Sales

　

　

 

      GROSS PROFIT

　

　

 

  Selling & Adm Costs

72,150

72,242

 

      OPERATING PROFIT

72,150

72,242

 

  Non-Operating P/L

-3,618

-9,075

 

      RECURRING PROFIT

68,532

63,167

　

      NET PROFIT

37,278

37,690

BALANCE SHEET

 

 

 

 

  Cash

　

89,879

78,212

 

  Receivables

 

18,270

22,211

 

  Inventory

 

　

　

 

  Securities, Marketable

　

　

 

  Other Current Assets

15,531

18,914

 

      TOTAL CURRENT ASSETS

123,680

119,337

 

  Property & Equipment

362,020

373,553

 

  Intangibles

 

253,180

248,323

 

  Investments, Other Fixed Assets

73,423

75,550

 

      TOTAL ASSETS

812,303

816,763

 

  Payables

 

28,324

27,995

 

  Short-Term Bank Loans

5,521

5,581

 

　

 

　

　

 

  Other Current Liabs

57,122

74,842

 

      TOTAL CURRENT LIABS

90,967

108,418

 

  Debentures

 

10,000

10,000

 

  Long-Term Bank Loans

118,302

128,887

 

  Reserve for Retirement Allw

　

　

 

  Other Debts

　

135,718

143,048

 

      TOTAL LIABILITIES

354,987

390,353

 

      MINORITY INTERESTS

 

 

 

Common stock

117,550

117,550

 

Additional paid-in capital

226,293

226,017

 

Retained earnings

94,825

70,010

 

Evaluation p/l on investments/securities

(833)

(1,160)

 

Others

 

40,609

16,259

 

Treasury stock, at cost

(21,128)

(2,266)

 

      TOTAL S/HOLDERS` EQUITY

457,316

426,410

　

      TOTAL EQUITIES

812,303

816,763

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/12/2011

31/12/2010

 

Cash Flows from Operating Activities

　

123,342

124,376

 

Cash Flows from Investment Activities

-68,309

-57,048

 

Cash Flows from Financing Activities

-53,366

-53,542

　

Cash, Bank Deposits at the Term End

　

89,870

78,212

ANALYTICAL RATIOS            Terms ending:

31/12/2011

31/12/2010

 

 

Net Worth (S/Holders' Equity)

457,316

426,410

 

 

Current Ratio (%)

135.96

110.07

 

 

Net Worth Ratio (%)

56.30

52.21

 

 

Recurring Profit Ratio (%)

22.26

21.18

 

 

Net Profit Ratio (%)

12.11

12.64

 

 

Return On Equity (%)

8.15

8.84

 

           


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.05

UK Pound

1

Rs.81.09

Euro

1

Rs.67.39

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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