|
Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
JTB COMMUNICATIONS INC |
|
|
|
|
Registered Office : |
IK Bldg 3F,
2-24-9 Kamiosaki Shinagawaku Tokyo 141-0021 |
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Country : |
Japan |
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|
Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April
2010 |
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Com. Reg. No.: |
(Tokyo-Shinagawaku)
023536 |
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Legal Form : |
Limited Company |
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Line of Business : |
Market
research, analysis, advertizing, event & convention planning |
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|
|
|
No. of Employees : |
438 employees |
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 |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
japan - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a
strong work ethic, mastery of high technology, and a comparatively small
defense allocation (1% of GDP) helped Japan develop a technologically advanced
economy. Two notable characteristics of the post-war economy were the close
interlocking structures of manufacturers, suppliers, and distributors, known as
keiretsu, and the guarantee of lifetime employment for a substantial portion of
the urban labor force. Both features are now eroding under the dual pressures
of global competition and domestic demographic change. Japan's industrial
sector is heavily dependent on imported raw materials and fuels. A tiny
agricultural sector is highly subsidized and protected, with crop yields among
the highest in the world. Usually self-sufficient in rice, Japan imports about
60% of its food on a caloric basis. Japan maintains one of the world's largest
fishing fleets and accounts for nearly 15% of the global catch. For three
decades, overall real economic growth had been spectacular - a 10% average in
the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth
slowed markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s
that required a protracted period of time for firms to reduce excess debt,
capital, and labor. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest economy
in the world after second-place China, which surpassed Japan in 2001, and
third-place India, which edged out Japan in 2011. A sharp downturn in business
investment and global demand for Japan's exports in late 2008 pushed Japan
further into recession. Government stimulus spending helped the economy recover
in late 2009 and 2010, but the economy contracted again in 2011 as the massive
9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies
remain tight because Japan has temporarily shut down almost all of its nuclear
power plants after the Fukushima Daiichi nuclear reactors were crippled by the
earthquake and resulting tsunami. Estimates of the direct costs of the damage -
rebuilding homes, factories, and infrastructure - range from $235 billion to
$310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko
NODA has proposed opening the agricultural and services sectors to greater
foreign competition and boosting exports through membership in the US-led
Trans-Pacific Partnership trade talks and by pursuing free-trade agreements
with the EU and others, but debate continues on restructuring the economy and
reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent
deflation, reliance on exports to drive growth, and an aging and shrinking
population are other major long-term challenges for the economy.
|
Source : CIA |
JTB COMMUNICATIONS INC
KK JTB
Communications
IK Bldg 3F, 2-24-9
Kamiosaki Shinagawaku Tokyo 141-0021 JAPAN
Tel:
03-5434-8160 Fax: 050-3737-1861
URL: www.jtbcom.co.jp
E-mail: info@jtbcom.co.jp
Market
research, analysis, advertizing, event & convention planning
Osaka,
Sendai, Hiroshima, Takamatsu
Beijing
KAZUHISA
MAEDA, PRES Yoichiro Shimizu, mgn
dir
Masashi
Inoue, dir Ritsuo
Watanabe, dir
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 21,690 M
PAYMENTSNo Complaints CAPITAL Yen 100 M
TREND STEADY WORTH Yen 2,194 M
STARTED 2010 EMPLOYES 438
MARKET
RESEARCH COMPANY, OWNED BY JTB CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established originally in 1988 on the basis of an advertizing division separated from JTB Corp (See REGISTRATION), and was reorganized in 2010 by merging a sister company, J-Com KK. This is a total marketing research company offering planning, advertizing, event & convention planning, other. Clients include government agencies, research institutes, other, nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen
21,690 million, a 1% up from Yen 21,470 million in the previous term. The recurring profit was posted at Yen 655
million and the net profit at Yen 254 million, respectively, compared with Yen
447 million recurring profit and Yen 157 million net profit, respectively, a
year ago. .
For the current term ending Mar 2013 the recurring profit is
projected at Yen 670 million and the net profit at Yen 270 million,
respectively, on a 3% rise in turnover, to Yen 22,300 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Apr 2010
Regd No.: (Tokyo-Shinagawaku) 023536
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 8,000
shares
Issued: 4,800
shares
Sum: Yen 100 million
Major shareholders (%): JTB
Corp* (99), McCann Erickson Japan Inc (1)
No. of shareholders: 2
*.. JTB Corp, Tokyo, travel agency, founded 1963, capital Yen 2,304 million, turnover Yen 1,136,980 million, operating profit Yen 11,346 million, recurring profit Yen 12,694 million, net profit Yen 3,347 million, total assets Yen 552,400 million, net worth Yen 123,602 million, employees 25,379, pres Hiromi Tagawa
Consolidated Financials are attached (See SUPPLEMENTS)
Nothing detrimental is known as to the commercial morality of executives.
Activities: Market research company, offering marketing research & analysis, advertising, event & convention planning, other (--100%)
Clients: [Government agencies, research institutes, business firms] JTB Corp, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Agencies] JTB Corp, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Meguro)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
22,300 |
21,690 |
21,470 |
8,064 |
|
Recur.
Profit |
|
670 |
655 |
447 |
150 |
|
Net
Profit |
|
270 |
254 |
157 |
20 |
|
Total
Assets |
|
|
10,100 |
9,510 |
2,287 |
|
Current
Assets |
|
|
8,939 |
8,323 |
1,875 |
|
Current
Liabs |
|
|
7,882 |
7,439 |
1,727 |
|
Net
Worth |
|
|
2,194 |
1,998 |
435 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.81 |
1.02 |
166.25 |
-14.78 |
|
|
Current Ratio |
|
.. |
113.41 |
111.88 |
108.57 |
|
N.Worth Ratio |
.. |
21.72 |
21.01 |
19.02 |
|
|
R.Profit/Sales |
|
3.00 |
3.02 |
2.08 |
1.86 |
|
N.Profit/Sales |
1.21 |
1.17 |
0.73 |
0.25 |
|
|
Return On Equity |
.. |
11.58 |
7.86 |
4.60 |
|
Notes: Forecast (or estimated) figures for the
31/03/2013 fiscal term
CONSOLIDATED FINANCIALS OF THE PARENT,
JTB CORPORATION
|
FINANCES: (Consolidated
in million yen) |
|
|||||
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Terms Ending: |
31/03/2012 |
31/03/2011 |
||
|
INCOME STATEMENT |
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||||
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Annual Sales |
|
1,136,980 |
1,166,680 |
||
|
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Cost of Sales |
887,573 |
909,459 |
|||
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GROSS PROFIT |
249,407 |
257,221 |
|||
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Selling & Adm Costs |
238,061 |
249,031 |
|||
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OPERATING PROFIT |
11,346 |
8,190 |
|||
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Non-Operating P/L |
1,348 |
-818 |
|||
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RECURRING PROFIT |
12,694 |
7,372 |
|||
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NET PROFIT |
3,347 |
5,048 |
|||
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BALANCE SHEET |
|
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|||
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Cash |
|
83,598 |
92,130 |
||
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Receivables |
|
100,821 |
86,216 |
||
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Inventory |
|
6,267 |
6,277 |
||
|
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Securities, Marketable |
14,039 |
12,689 |
|||
|
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Other Current Assets |
134,194 |
74,166 |
|||
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TOTAL CURRENT ASSETS |
338,919 |
271,478 |
|||
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|
Property & Equipment |
62,877 |
68,066 |
|||
|
|
Intangibles |
|
16,409 |
22,214 |
||
|
|
Investments, Other Fixed Assets |
134,195 |
139,721 |
|||
|
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TOTAL ASSETS |
552,400 |
501,479 |
|||
|
|
Payables |
|
117,344 |
83,174 |
||
|
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Short-Term Bank Loans |
5,497 |
6,653 |
|||
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|
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|
|
|
||
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Other Current Liabs |
241,476 |
227,289 |
|||
|
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TOTAL CURRENT LIABS |
364,317 |
317,116 |
|||
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Debentures |
|
|
|
||
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Long-Term Bank Loans |
159 |
225 |
|||
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Reserve for Retirement Allw |
14,467 |
13,366 |
|||
|
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Other Debts |
|
49,855 |
51,568 |
||
|
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TOTAL LIABILITIES |
428,798 |
382,275 |
|||
|
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MINORITY INTERESTS |
|
|
|||
|
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Common
stock |
131,294 |
128,446 |
|||
|
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Additional
paid-in capital |
2,304 |
2,304 |
|||
|
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Retained
earnings |
128,990 |
126,142 |
|||
|
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Evaluation
p/l on investments/securities |
(9,848) |
(11,346) |
|||
|
|
Others |
|
(129,138) |
(126,342) |
||
|
|
Treasury
stock, at cost |
|
|
|||
|
|
TOTAL S/HOLDERS` EQUITY |
123,602 |
119,204 |
|||
|
|
TOTAL EQUITIES |
552,400 |
501,479 |
|||
|
CONSOLIDATED CASH FLOWS |
|
|
||||
|
|
|
Terms ending: |
31/03/2012 |
31/03/2011 |
||
|
|
Cash
Flows from Operating Activities |
|
50,267 |
12,061 |
||
|
|
Cash
Flows from Investment Activities |
-5,026 |
8,589 |
|||
|
|
Cash
Flows from Financing Activities |
-1,661 |
-198 |
|||
|
|
Cash,
Bank Deposits at the Term End |
|
175,481 |
132,849 |
||
|
ANALYTICAL RATIOS Terms ending: |
31/03/2012 |
31/03/2011 |
||||
|
|
|
Net
Worth (S/Holders' Equity) |
123,602 |
119,204 |
||
|
|
|
Current
Ratio (%) |
93.03 |
85.61 |
||
|
|
|
Net Worth
Ratio (%) |
22.38 |
23.77 |
||
|
|
|
Recurring
Profit Ratio (%) |
1.12 |
0.63 |
||
|
|
|
Net
Profit Ratio (%) |
0.29 |
0.43 |
||
|
|
|
Return
On Equity (%) |
2.71 |
4.23 |
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.07 |
|
UK Pound |
1 |
Rs.84.95 |
|
Euro |
1 |
Rs.68.24 |
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.