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Report Date : |
02.08.2013 |
IDENTIFICATION DETAILS
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Name : |
MT & HILTON HOTEL CO LTD |
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Registered Office : |
Tokyo Shiodome Bldg 1F/28-37F, 1-9-1 Higashi-Shimbashi Minatoku Tokyo 105-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
October 2004 |
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Com. Reg. No.: |
0104-01-055479 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Hotel operation
& management |
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No. of Employees : |
450 |
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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Maximum Credit Limit: |
-- |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
JAPAN |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
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 small agricultural sector is highly subsidized and protected, with
crop yields among the highest in the world. While self-sufficient in rice
production, Japan imports about 60% of its food on a caloric basis. 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. Modest economic growth continued after 2000, but the
economy has fallen into recession three times since 2008. A sharp downturn in
business investment and global demand for Japan's exports in late 2008 pushed
Japan 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 and the ensuing tsunami in March disrupted
manufacturing. The economy has largely recovered in the two years since the
disaster, but reconstruction in the Tohoku region has been uneven.
Newly-elected Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has pledged to reconsider his predecessor's plan
to permanently close nuclear power plants and is pursuing an economic
revitalization agenda of fiscal stimulus and regulatory reform and has said he
will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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
MT & HILTON HOTEL CO LTD
(Operating as CONRAD TOKYO)
REGD NAME: MT
& Hilton Hotel KK
MAIN OFFICE: Tokyo
Shiodome Bldg 1F/28-37F, 1-9-1 Higashi-Shimbashi Minatoku Tokyo
105-0021 JAPAN
Tel:
03-6388-8000 Fax: 03-6388-8001
URL: http://www.conradtokyo.co.jp
E-Mail address: tokyoinfo@conradhotels.com
Hotel operation
& management
Guest room: 290
rooms
Restaurant & Bars:
French restaurant, Chinese restaurant, Japanese
restaurant, Bar
& Lounge
Parties &
Convention Facilities: 2 ballrooms, 3 banquet rooms and 3
meeting rooms
Other related
facilities: Spa & Fitness, Wedding chapel, etc
KAZUHIKO OIWA,
PRES Toshio Komatsu, dir
Katsuyuki
Kinoshita, dir Masahiko Yabe,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen Undisclosed
PAYMENTSSLOW CAPITAL Yen 20 M
TREND UP WORTH Yen (-) 1,247 M
STARTED 2004 EMPLOYES 450
*.. Financials are
not disclosed only with partial figures
HOTEL OPERATION & MANAGEMENT, OWNED BY MORI TRUST CO LTD.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: UNABLE TO BE ASSESSED DUE
TO THE LACK OF PROVEN BUSINESS, WHICH THE FIRM DOES NOT DISCLOSE.
MAX CREDIT LIMIT OF THE PARENT, MORI TRUST
CO LTD: YEN 2,685.6 MILLION, ON 30 DAYS NORMAL TERMS. ALL & ANY CREDITS TO THE SUBJECT FIRM ARE
RECOMMENDED ON FULLY GUARANTEED TERMS FROM THE PARENT.
The subject company was
established by Mori Trust Co Ltd (See REGISTRATION)
in to succeed and reconstruct Holton Hotel Tokyo (built 1962) and the present place
is selected to house its East Asia Flagship.
It offers views of the Hamarikyu Gardens and Tokyo Bay with contemporary
Japanese design. The hotel has 290 guest
rooms, with restaurants & bars, ball rooms, banquet rooms & meeting
rooms, spa & fitness clubs, wedding chapel, other.
Financials are wholly
consolidated by the parent, Mori Trust Co Ltd, and not individually disclosed,
except as stated in the statement down the report. All these figures are cited from the parent’s
financial statements.
The sales volume for Dec/2012 fiscal term
for hotel business revenue amounted to Yen 19,589 million, a 9% up from Yen
17,928 million. A recovery in demand
from domestic and international tourists resulted in higher occupancy rates and
sales.
The financial situation
is considered RATHR WEAK but should be good for MODERATE business
engagements. Max credit limit of the
parent, Mori Trust Co Ltd, is estimated at Yen 2,685.6 million, on 30 days
normal terms. Any & all credits to the
subject firm are recommended on fully secured terms from the parent.
Date Registered: Oct 2004
Regd No.:
0104-01-055479 (Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,600 shares
Issued:
400 shares
Sum: Yen 20 million
Major shareholders (%): Mori Trust Co
Ltd* (100)
*.. Mori Trust Co Ltd, Tokyo, real estate
development, hotel management and investment business, founded 1970, capital
Yen 10,000 million, sales Yen 92,080 million (of which hotel-related business
at Yen 19,563 million), operating profit Yen 25,265 million, recurring profit
Yen 24,920 million, net profit Yen 19,256 million, total assets Yen 869,120
million, net worth Yen 251,412 million, employees 1,723, pres Akira Mori
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Hotel operation
& management (--100%)
Clients: Travelers,
tourists, business firms, other
No. of accounts:
Unavailable
Domestic areas of activities:
Centered in greater-Tokyo
Payment record: Slow
Location: Business area in
Tokyo. Office premises at the caption
address are owned by the owner, Mori Trust Co Ltd, and maintained
satisfactorily.
Bank References:
MUFG
(Toranomon-Chuo)
SMBC Bank (H/O)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/12/2012 |
31/12/2011 |
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Annual
Sales |
|
N/A |
N/A |
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Recur.
Profit |
|
N/A |
N/A |
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Net
Profit |
|
-151 |
-516 |
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Total
Assets |
|
875 |
854 |
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Current
Assets |
|
767 |
773 |
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Current
Liabs |
|
1,987 |
1,813 |
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Net
Worth |
|
-1,247 |
-1,096 |
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Capital,
Paid-Up |
|
20 |
20 |
|
Div.P.Share(¥) |
|
0 |
0.00 |
Notes: Financials
are only partially disclosed. No sales
figures are disclosed.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.74 |
|
|
1 |
Rs.92.05 |
|
Euro |
1 |
Rs.80.60 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
-- |
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.