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Report Date : |
25.07.2012 |
IDENTIFICATION DETAILS
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Name : |
PAR72PLAZA CO
LTD |
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Registered Office : |
Tankai Bldg 2F, 3-10-5 Taihei Sumidaku |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
February 2000 |
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Com. Reg. No.: |
0106-01-028217 (Tokyo-Sumidaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Portal site operator of golf-related information; golf tour operator |
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No. of Employees : |
32 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but 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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
PAR72PLAZA CO LTD
REGD NAME: KK
Par72Plaza
MAIN OFFICE: Tankai
Bldg 2F, 3-10-5 Taihei Sumidaku
Tel:
03-5819-3666 Fax: 03-5819-3667
URL: http//:www.corp.par72.co.jp
E-mail: webmaster@corp.par72.co.jp
Portal site
operator of golf-related information; golf tour operator
Tokyo Governor Registered
Tour Operation No.2-5895; JATA Member
Nil
TOMOMI MATSUOKA,
PRES Seiichi Saitoh, ch
Michiyo Harada, dir Hisao Nomura, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 700 M
PAYMENTS SLOW BUT
CORRECT CAPITAL Yen 339 M
TREND SLOW WORTH Yen 37 M
STARTED 2000 EMPLOYES 32
GOLF-RELATED
PORTAL SITE OPERATOR
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT GOOD FOR CREDIT ENGAGEMENTS: US$100,000 / O/A 30 DAYS.
The subject company was established
as a JV by Itochu Corp & KK Par72CLUB (owned by Excite Japan Co Ltd) (See REGISTRATION) in order to advance into
portal site operation centering in golf-related information. Operates golf-related portal, providing
information on golf courses, golf tournaments (domestic & international),
golf course bookings, GPS golf Navigator (voice caddie), other. Official sites: Golf PAR72 (provides on cell
phones), Shot Navigator Pocket (GPS mounted distance measuring aid), Shot Navi
Personal (GPS mounted distance aid on cell phones), Golf PAR72 (booking of golf
courses in & out, provides information on golf tournaments), Golf tours,
other. In Nov 2006 tied with LPGA (Japan
Ladies’ Golf Assn) to open its official site “LPGA OFFICIAL”, providing on the
spot information of players.
Advertisement and charged contents are main profit-sources. The firm is putting more emphasis on sales of
GPS golf navigator, which sales account for 70% of total sales.
Financials are disclosed in digested
forms from the 31/03/2011 fiscal term.
The sales volume for Mar/2012 fiscal term amounted to Yen 700 million, a
9% down from Yen 767 million in the previous term. The net profit was posted at Yen 24 million,
compared with Yen 86 million a year ago.
The firm had been in deficit for two years, 2007 & 2008, from heavy
investment costs on GPS equipment. .
For the current term ending Mar 2013 the net
profit is projected at Yen 25 million, on a 4% rise in turnover, to Yen 730
million. Sales of GPS measurement
instruments account for about 70% of total sales. Demand is growing fast.
The financial situation is
considered RATHER WEAK but should be good for MODERATE business
engagements. The proposed amount is
considered within the firm’s financial capacities.
Date Registered:
Feb 2000
Regd No.:
0106-01-028217 (Tokyo-Sumidaku)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 739,600 shares
Issued: 184,900 shares
Sum: Yen 339.85
million
Major shareholders (%): KK PAR72CLUB*
(68.95), Seiichi Saito (9.7), Tomomi Matsuoka (6.4), Mitsubishi UFJ Capital
(5.61), NIF SMBC Ventures (5.43), Aozora Investment (4.63), Ace Investment
Capital (3.62), Mitsui Sumitomo Marine Capital (2.90), Resona Capital (1.81),
Mizuho Capital (1.45), individuals (5.61)
No. of shareholders: 25 (about)
* Portal site
operator, affiliated to Excite Japan Co Ltd
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Golf-related
portal site operator, operates golf tours domestically & overseas,
including major tournaments (30%), sale of GPS golf navigator (70%)
(Portal
sites): PAR72PLAZA, LPGA OFFICIAL, SHOT NAVI POCKET, SHOT NAVI PERSONAL, TRAVEL,
other
Clients: [Business firms,
individuals] Itochu Corp, Alpen Co, Niki Golf, Accordia Golf, Tokyu Corp, Tokyu
Land Corp, Mori Kanko Trust, NTT DoCoMo, Softbank Mobile, KDDI, Benefit One
Inc, Ewel Inc, JTB Benefit, Tokyo Living Service, JCB Co, UFJ Nicos Co,
Victoria, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: (Mfrs, wholesalers) Imports from Taiwan,
Korea, other.
Payment record: Slow but Correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Asakusa)
Tokyo Higashi
Shinkin Bank (Kinshicho)
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 |
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730 |
700 |
767 |
1,000 |
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Recur.
Profit |
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Net
Profit |
|
25 |
24 |
86 |
6 |
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Total
Assets |
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|
271 |
229 |
N/A |
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Current
Assets |
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|
212 |
147 |
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Current
Liabs |
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|
121 |
92 |
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Net
Worth |
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|
37 |
13 |
-73 |
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Capital,
Paid-Up |
|
|
339 |
339 |
339 |
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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 |
4.29 |
-8.74 |
-23.30 |
-3.10 |
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Current Ratio |
|
.. |
175.21 |
159.78 |
.. |
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N.Worth Ratio |
.. |
13.65 |
5.68 |
.. |
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R.Profit/Sales |
|
.. |
.. |
.. |
.. |
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N.Profit/Sales |
3.42 |
3.43 |
11.21 |
0.60 |
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Notes: Financials
are only partially disclosed for the 31/03/2010 fiscal term.
Forecast (or
estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.01 |
|
|
1 |
Rs.86.89 |
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Euro |
1 |
Rs.67.83 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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.