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Report Date : |
05.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
DAIW ASSET MANAGEMENT LTD |
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Registered Office : |
2-10-5 Nihombashi-Kayabacho Chuoku Tokyo 103-0025 |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
December
1959 |
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Com. Reg. No.: |
0100-01-049257
(Tokyo-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Asset
Management Company |
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No. of Employees : |
561 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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 |
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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 |
DAIW ASSET MANAGEMENT LTD
Daiwa Shoken Toshi
Shintaku Itaku KK
2-10-5
Nihombashi-Kayabacho Chuoku Tokyo 103-0025 JAPAN
Tel: 03-5695-2111
URL: http://www.daiwa-am.co.jp
E-Mail address: (thru the URL)
Asset
management company
Nil
USA,
UK, Hong Kong, Shanghai, Singapore, India (--subsidiaries)
MAKOTO
SHIRAKAWA, PRES Masaki Yamane, v pres
Toshinao
Matsushima, s/mgn dir Takuya Ikeda, s/mgn
dir
Ikuo
Shoda, s/mgn dir Toshiaki
Kuwano, s/mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 7,332 M
PAYMENTS
REGULAR CAPITAL Yen 15,174 M
TREND UP WORTH Yen 34,847 M
STARTED 1959 EMPLOYES 561
ASSET MANAGEMENT COMPANY, OWNED BY DAIWA SECURITIES GROUP INC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Daiwa Securities Group Inc (See REGISTRATION) as its management company. This is an asset management company of assets under management of publicly offered investment assets. Total assets under management: Yen 9,125.4 billion as at Mar 30, 2012.
The revenues for Mar/2012 fiscal term amounted to Yen 73,332 million, a 1% up from Yen 72,649 million in the previous term. The recurring profit was posted at Yen 12,333 million and the net profit at Yen 7,023 million, respectively, compared with Yen 13,741 million recurring profit and Yen 9,206 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 12,500 million and the net profit at Yen 7,100 million, respectively, on a 1% rise in turnover, to Yen 75,000 million. Figures could change depending upon the market fluctuations/conditions.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1959
Regd No.: 0100-01-049257 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2,608,525 shares
Issued:
2,608,525 shares
Sum: Yen
15,174 million
Major shareholders (%): Daiwa Securities Group Inc*
(100)
*.. One of Big 3 securities firms, Tokyo, founded 1943, listed Tokyo, Osaka, Nagoya S/E’s, Capital Yen 247,397 million, sales Yen 422,374 million, operating loss Yen 23,713 million,
Recurring loss Yen 12,200 million, net loss Yen 39,434 million, total assets Yen 18,924,038 million, net worth Yen 951,702 million, employees 14,904, pres Takashi Hibino
Consolidated Financials are attached (See SUPPLEMENTS)
Nothing detrimental is known as to the commercial morality of executives.
Activities: Asset management company, with total assets under management at Yen 9,125.4 billion as at Mar/30/2012 (--100%)
Clients: Securities firms, banks, Pension Funds, other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(H/O)
Sumitomo
Mitsui Trust Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
|
75,000 |
73,332 |
72,649 |
63,795 |
|
Recur.
Profit |
|
12,500 |
12,333 |
13,741 |
9,929 |
|
Net
Profit |
|
7,100 |
7,023 |
9,206 |
5,920 |
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Total
Assets |
|
|
51,157 |
50,833 |
53,406 |
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Current
Assets |
|
|
30,908 |
28,626 |
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Current
Liabs |
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|
12,789 |
10,485 |
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Net
Worth |
|
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34,847 |
36,900 |
38,856 |
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Capital,
Paid-Up |
|
|
15,174 |
15,174 |
15,174 |
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Div.P.Share(¥) |
|
|
|
3520.00 |
4300.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.27 |
0.94 |
13.88 |
-6.40 |
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Current Ratio |
|
.. |
241.68 |
273.02 |
.. |
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N.Worth Ratio |
.. |
68.12 |
72.59 |
72.76 |
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R.Profit/Sales |
|
16.67 |
16.82 |
18.91 |
15.56 |
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N.Profit/Sales |
9.47 |
9.58 |
12.67 |
9.28 |
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Return On Equity |
.. |
20.15 |
24.95 |
15.24 |
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Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
CONSOLIDATED FINANCIALS OF THE PARENT,
DAIWA SECURITIES GROUP INC
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FINANCES: (Consolidated
in million yen) |
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|||||
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Terms Ending: |
31/03/2012 |
31/03/2011 |
||
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INCOME STATEMENT |
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Annual Sales |
|
422,374 |
403,042 |
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Cost of Sales |
86,358 |
84,478 |
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GROSS PROFIT |
336,016 |
318,564 |
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Selling & Adm Costs |
359,729 |
363,919 |
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OPERATING PROFIT |
-23,713 |
-45,355 |
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Non-Operating P/L |
11,513 |
12,753 |
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RECURRING PROFIT |
-12,200 |
-32,602 |
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NET PROFIT |
-39,434 |
-37,331 |
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BALANCE SHEET |
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Cash |
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1,050,468 |
1,025,239 |
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Receivables |
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13,135 |
11,538 |
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Inventory |
|
8,876,950 |
6,770,478 |
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Securities, Marketable |
1,474,395 |
84,435 |
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Other Current Assets |
6,802,211 |
8,419,741 |
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TOTAL CURRENT ASSETS |
18,217,159 |
16,311,431 |
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Property & Equipment |
394,415 |
133,226 |
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Intangibles |
|
102,887 |
135,680 |
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Investments, Other Fixed Assets |
209,577 |
262,074 |
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TOTAL ASSETS |
18,924,038 |
16,842,411 |
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Payables |
|
4,412 |
5,869 |
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Short-Term Bank Loans |
1,794,254 |
2,660,492 |
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Other Current Liabs |
14,204,980 |
11,272,780 |
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TOTAL CURRENT LIABS |
16,003,646 |
13,939,141 |
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Debentures |
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1,282,479 |
1,334,141 |
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Long-Term Bank Loans |
623,297 |
592,640 |
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Reserve for Retirement Allw |
29,983 |
29,948 |
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Other Debts |
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32,931 |
25,143 |
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TOTAL LIABILITIES |
17,972,336 |
15,921,013 |
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MINORITY INTERESTS |
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Common
stock |
247,397 |
247,397 |
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Additional
paid-in capital |
230,655 |
230,632 |
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Retained
earnings |
345,983 |
395,751 |
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Evaluation
p/l on investments/securities |
23,338 |
23,135 |
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Others |
|
127,010 |
51,537 |
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Treasury
stock, at cost |
(22,681) |
(27,054) |
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TOTAL S/HOLDERS` EQUITY |
951,702 |
921,398 |
|||
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TOTAL EQUITIES |
18,924,038 |
16,842,411 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2012 |
31/03/2011 |
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Cash
Flows from Operating Activities |
|
2,032,677 |
1,676,882 |
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Cash
Flows from Investment Activities |
-973,494 |
-79,466 |
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Cash Flows
from Financing Activities |
-106,022 |
-1,301,657 |
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Cash,
Bank Deposits at the Term End |
|
1,038,981 |
1,043,463 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2012 |
31/03/2011 |
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Net
Worth (S/Holders' Equity) |
951,702 |
921,398 |
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Current
Ratio (%) |
113.83 |
117.02 |
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Net
Worth Ratio (%) |
5.03 |
5.47 |
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Recurring
Profit Ratio (%) |
-2.89 |
-8.09 |
||
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Net
Profit Ratio (%) |
-9.34 |
-9.26 |
||
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Return
On Equity (%) |
-4.14 |
-4.05 |
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.55 |
|
UK Pound |
1 |
Rs.85.48 |
|
Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
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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.