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Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
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Name : |
PAR72PLAZA CO LTD |
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Registered Office : |
Tankai Bldg 2F, 3-10-5 Taihei Sumidaku Tokyo 130-0012 |
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Country : |
Japan |
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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 |
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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 : |
30 |
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 : |
No Complaints |
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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 |
|
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 |
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 |
PAR72PLAZA CO LTD
KK Par72Plaza
Tankai Bldg 2F, 3-10-5 Taihei Sumidaku Tokyo 130-0012 JAPAN
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 NO COMPLAINTS CAPITAL Yen 339 M
TREND SLOW WORTH Yen 37 M
STARTED 2000 EMPLOYES 30
GOLF-RELATED PORTAL SITE OPERATOR
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established as a JV by Itochu Corp & KK
Par72CLUB (owned by Excite Japan Co Ltd) 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 term that ended Mar 2013 the net profit was projected at Yen 30
million, on a 5% rise in turnover, to Yen 735 million. Final results are yet to be released.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements.
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: No Complaints
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 |
|
|
Annual Sales |
|
735 |
700 |
767 |
1,000 |
|
Recur. Profit |
|
|
|
|
|
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Net Profit |
|
30 |
24 |
86 |
6 |
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Total Assets |
|
|
271 |
229 |
N/A |
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Current Assets |
|
|
212 |
147 |
|
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Current Liabs |
|
|
121 |
92 |
|
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Net Worth |
|
|
37 |
13 |
-73 |
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Capital, Paid-Up |
|
|
339 |
339 |
339 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.00 |
-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 |
4.08 |
3.43 |
11.21 |
0.60 |
|
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.59.83 |
|
|
1 |
Rs.91.76 |
|
Euro |
1 |
Rs.79.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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.