MIRA
INFORM REPORT
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Report Date : |
30.01.2012 |
IDENTIFICATION DETAILS
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Name : |
SOFTBANK MOBILE CORPORATION |
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Registered Office : |
Tokyo Shiodome Bldg, 1-9-1 Higashishimbashi Minatoku Tokyo 105-7317 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
December 1986 |
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Com. Reg. No.: |
(Tokyo-Minatoku) 052465 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mobile Phone Service Provider |
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No. of Employees : |
6,728 |
RATING & COMMENTS
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MIRAs Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 44,085.8 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 and address
SOFTBANK MOBILE CORPORATION
REGD NAME: Softbank
Mobile KK
MAIN OFFICE: Tokyo
Shiodome Bldg, 1-9-1 Higashishimbashi Minatoku Tokyo 105-7317 JAPAN
Tel:
03-6889-6666
URL: http://www.mb-softbank.jp/mb/
E-mail: pr@softbank.co.jp
ACTIVITIES
Mobile phone
service provider
BRANCHES
Sapporo, Sendai,
Nagoya, Osaka, Kanazawa, Hiroshima, Takamatsu, Fukuoka
OFFICER(S)
MASAYOSHI SON,
PRES Ken Miyauchi, v pres
Junichi Miyagawa,
s/mgn dir Kazuhiko Fujihara, mgn dir
Tetsuzo Matsumoto,
dir Kazuhiko Kasai, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,971,169 M
PAYMENTS REGULAR CAPITAL Yen
177,251 M
TREND STEADY WORTH Yen
1,235,383 M
STARTED 1986 EMPLOYES 6,728
COMMENT
MOBILE PHONE
SERVICE PROVIDER
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMENTS: CD$1,010,100.
MAX CREDIT LIMIT:
YEN 44,085.8 MILLION, 30 DAYS NORMAL TERMS
Notes: Forecast (or estimated) for the
31/03/2011 fiscal term.
HIGHLIGHTS
The subject company was established
on the basis of a mobile phone service division separated from Softbank Corp,
at the caption address. This is a mobile
phone service provider for domestic overseas communications. The number of mobile phone subscribers stand
at 27,835,300 as at Dec 2011.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal
term amounted to Yen 1,723,858 million, a 9.2% up from Yen 1,579,106 million in
the previous term. This is the result of
strong growth in the number of mobile phone subscribers. The number of subscribers increased by the
introduction of iPhone system. The
recurring profit was posted at Yen 336,527 million and the net profit at Yen
174,625 million, respectively, compared with Yen 252,336 million recurring
profit and Yen 109,632 million net profit, respectively, a year ago.
For the current term ending Mar 2012 the
recurring profit is projected at Yen 400,000 million and the net profit at Yen
200,000 million, respectively, on a 9% rise in turnover, to Yen 2,150,000
million.. Subscribers total 27,835,300
as of Dec 2011. The release of iPhone 4S
in Oct 2011 will contribute to the growth in number of customers.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 44,085.8
million, on 30 days normal terms. The
proposed amount is considered well within the firms financial capacities.
REGISTRATION
Date Registered: Dec
1986
Regd No.:
(Tokyo-Minatoku) 052465
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 11,444,229 shares
Issued: 5,427,893 shares
Sum: Yen 177,251 million
Major
shareholders (%): BB Mobile (Softbank Corp*) (100)
* Softbank Corp, holding company of Softbank
group firms & Yahoo Inc, founded 1981, capital Yen 213,797 million, listed
Tokyo S/E, sales Yen 3,004,640 million, operating profit Yen 629,163 million,
recurring profit Yen 520,414 million, net profit Yen 189,712 million, total
assets Yen 4,551,142 million, net worth Yen 819,439 million, employees 21,799,
pres Masayoshi Son, concurrently.
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Mobile phone service
provider: for domestic/international call & messaging services, global
roaming services, in-flight mobile phone services; sale of mobile handsets,
digital photo frames, mobile data communication, other (--100%)..
Clients: Users,
consumers, other
No. of accounts: 27,835,300 subscribers as
of end/Dec/2011
Domestic areas of
activities: Nationwide
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)
Mizuho Bank
(Tokyo-Chuo)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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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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1,971,169 |
1,723,859 |
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Cost of Sales |
1,494,790 |
1,352,990 |
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GROSS PROFIT |
476,379 |
370,868 |
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Selling & Adm Costs |
79,000 |
77,741 |
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OPERATING PROFIT |
397,387 |
293,127 |
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Non-Operating P/L |
-60,860 |
-40,791 |
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RECURRING PROFIT |
336,527 |
252,336 |
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NET PROFIT |
174,625 |
109,632 |
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BALANCE SHEET |
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Cash |
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408,063 |
360,140 |
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Receivables |
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500,668 |
647,340 |
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Inventory |
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38,651 |
25,955 |
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Securities, Marketable |
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Other Current Assets |
108,757 |
115,354 |
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TOTAL CURRENT ASSETS |
1,056,139 |
1,148,789 |
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Property & Equipment |
910,960 |
787,013 |
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Intangibles |
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230,396 |
200,314 |
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Investments, Other Fixed Assets |
1,293,117 |
1,272,050 |
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TOTAL ASSETS |
3,490,612 |
3,408,166 |
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Payables |
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134,030 |
93,137 |
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Short-Term Bank Loans |
49,999 |
175,409 |
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Other Current Liabs |
711,858 |
587,205 |
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TOTAL CURRENT LIABS |
895,887 |
855,751 |
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Debentures |
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Long-Term Bank Loans |
991,852 |
1,157,514 |
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Reserve for Retirement Allw |
2,646 |
2,872 |
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Other Debts |
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364,844 |
331,231 |
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TOTAL LIABILITIES |
2,255,229 |
2,347,368 |
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MINORITY INTERESTS |
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Common
stock |
177,251 |
177,151 |
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Additional
paid-in capital |
387,475 |
387,475 |
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Retained
earnings |
670,372 |
495,646 |
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Evaluation
p/l on investments/securities |
284 |
423 |
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Others |
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1 |
102 |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
1,235,383 |
1,060,797 |
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TOTAL EQUITIES |
3,490,612 |
3,408,166 |
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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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623,924 |
417,819 |
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Cash
Flows from Investment Activities |
-145,103 |
-175,601 |
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Cash
Flows from Financing Activities |
-430,985 |
-148,686 |
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Cash,
Bank Deposits at the Term End |
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408,063 |
360,140 |
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ANALYTICAL RATIOS Terms
ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
1,235,383 |
1,060,797 |
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Current
Ratio (%) |
117.89 |
134.24 |
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Net
Worth Ratio (%) |
35.39 |
31.13 |
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Recurring
Profit Ratio (%) |
17.07 |
14.64 |
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Net
Profit Ratio (%) |
8.86 |
6.36 |
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Return
On Equity (%) |
14.14 |
10.33 |
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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.49.64 |
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1 |
Rs.77.79 |
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Euro |
1 |
Rs.65.05 |
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 |
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This score serves as a reference to assess SCs 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.