MIRA
INFORM REPORT
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Report Date : |
27.06.2012 |
IDENTIFICATION DETAILS
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Name : |
E-ACCESS LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
Nov 1999 |
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Legal Form : |
Limited Company (Kabushiki Kaisha |
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Line of Business : |
Broadband
IP communication service |
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No. of Employees : |
1,198 |
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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Status : |
Satisfactory |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
EACCESS Ltd
REGD NAME: E-access
KK
MAIN OFFICE: Toranomon
Twin Tower Bldg, 2-10-1 Toranomon Minatoku Tokyo 105-0001
Tel:
033577-2200 -
URL: http://www.eaccess.net
E-Mail
address: (thru the URL)
ACTIVITIES
Broadband
IP communication service
BRANCHES
Sapporo,
Sendai, Nagoya, Osaka, Hiroshima, Fukuoka, Okinawa
CHIEF EXEC
ERIC
GAN, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 204,743 M
PAYMENTS REGULAR CAPITAL Yen 18,503 M
TREND UP WORTH Yen 18,503 M
STARTED 1999 EMPLOYES 1,198
COMMENT
BROADBAND IP COMMUNICATION SERVICE PROVIDER
FINANCIAL SITUATION COSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
Unit: In Million Yen
Forecast figures for the 31/03/2013 fiscal term.
HIGHLIGHTS
This
is telecommunication company, wholesaling ADSL lines to Internet service providers. Maintains third position in the industry’s
market share, following NTT East and West, and Softbank. Also engaged in AOL business. Made ACCA Networks consolidated sub, and
merged that subsidiary in June ’09.
Carried out business combination with equity method firm Emobile Ltd in
July ’10.
FINANCIAL INFORMATION
The sales
volume for Mar/2012 fiscal term amounted to Yen 204,743 million, a 188.8% up
from Yen 70,906 million in the previous term.
The number of contracts of mobile phones increased. The recurring profit was posted at Yen 12,184
million and the net profit at Yen 15,156 million, respectively, compared with
Yen 15,807 million recurring profit and Yen 18,226 million net losses,
respectively, a year ago.
For the
current term ending Mar 2013 the recurring profit is projected at Yen 15,000
million and the net profit at Yen 13,500 million, on a 22.1% rise in turnover,
to Yen 250,000 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements
REGISTRATION
Date Registered: Nov
1999
Legal Status:
Limited Company (Kabushiki Kaisha
Authorized: 8,439,760 million shares
Issued:
3,465,205 shares
Sum: Yen 18,503
million
Major shareholders (%): GSTK Holdings 3LLC (25.3),
GSTK Holdings 1 LLC (4.5), Blackstone Capital Partners (4.5), State Street Bank
& Trust (3.5), Nomura Int’l HK Ltd (3.2), Century Private Equity Holdings
(2.9), Sachio Semmoto (2.9), Eric Gan (2.9), Deutche Bank London (2.8), Bank of
New York Treaty Jasdec (2.5); foreign owners (43.6)
No. of shareholders:
35,869
Listed on the S/Exchange (s) of:
Tokyo
Managements: Sachio Semmoto, ch; Eric Gan, pres;
Jiro Kokuryo, dir; Ankur Sahu, dir; Julian Hom-Smith, dir; Glenn Gampel, dir;
Alan Miyasaki, dir
Nothing detrimental is known as
to the commercial morality of executives.
OPERATION
Activities: Broadband IP communication service
(100%).
Clients: [Telecommunications Offices] Softbank
Mobile, KDDI, NTT Communications, other
No. of
accounts: 15
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Huavel Technology Japan, NTT Communications, other
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Kamiyacho)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2012 |
31/03/2011 |
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INCOME STATEMENT |
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Annual Sales |
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204,743 |
70,906 |
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Cost of Sales |
81,186 |
42,832 |
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GROSS PROFIT |
123,558 |
28,075 |
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Selling & Adm Costs |
99,117 |
10,662 |
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OPERATING PROFIT |
24,441 |
17,413 |
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Non-Operating P/L |
-12,257 |
-1,606 |
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RECURRING PROFIT |
12,184 |
15,807 |
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NET PROFIT |
15,156 |
-18,228 |
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BALANCE SHEET |
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Cash |
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40,066 |
47,080 |
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Receivables |
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36,595 |
30,263 |
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Inventory |
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4,415 |
2,090 |
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Securities, Marketable |
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Other Current Assets |
41,097 |
45,005 |
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TOTAL CURRENT ASSETS |
122,173 |
124,438 |
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Property & Equipment |
148,220 |
144,720 |
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Intangibles |
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40,504 |
47,800 |
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Investments, Other Fixed Assets |
41,415 |
35,994 |
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TOTAL ASSETS |
352,312 |
352,952 |
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Payables |
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5,593 |
1,791 |
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Short-Term Bank Loans |
29,099 |
20,712 |
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Other
Current Liabs |
50,417 |
56,906 |
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TOTAL CURRENT LIABS |
85,109 |
79,409 |
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Debentures |
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67,502 |
12,640 |
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Long-Term Bank Loans |
105,676 |
177,665 |
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Reserve for Retirement Allw |
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Other Debts |
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7,654 |
10,212 |
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TOTAL LIABILITIES |
265,941 |
279,926 |
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MINORITY INTERESTS |
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Common
stock |
18,503 |
18,482 |
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Additional
paid-in capital |
49,252 |
49,230 |
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Retained
earnings |
17,524 |
5,325 |
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Evaluation
p/l on investments/securities |
35 |
18 |
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Others |
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1,057 |
(29) |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
86,371 |
73,026 |
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TOTAL EQUITIES |
352,312 |
352,952 |
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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 |
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57,042 |
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Cash
Flows from Investment Activities |
-38,814 |
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Cash Flows
from Financing Activities |
-27,219 |
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Cash,
Bank Deposits at the Term End |
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38,412 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2012 |
31/03/2011 |
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Net
Worth (S/Holders' Equity) |
86,371 |
73,026 |
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Current
Ratio (%) |
143.55 |
156.71 |
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Net
Worth Ratio (%) |
24.52 |
20.69 |
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Recurring
Profit Ratio (%) |
5.95 |
22.29 |
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Net
Profit Ratio (%) |
7.40 |
-25.71 |
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Return
On Equity (%) |
17.55 |
-24.96 |
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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.57.07 |
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1 |
Rs.88.95 |
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Euro |
1 |
Rs.71.40 |
INFORMATION DETAILS
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Report Prepared
by : |
PDT |
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.