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Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
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Name : |
CHIERU CO LTD |
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Registered Office : |
Tannozu Central Tower 3F, 2-2-24
Higashishinagawa Shinagawaku Tokyo 140-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
October 2006 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Develops computer software for
education, other |
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No. of Employees : |
70 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Usually correct |
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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 – 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 |
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High |
B2 |
|
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 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 |
CHIERU CO LTD
REGD NAME: Chieru
KK
MAIN OFFICE: Tannozu
Central Tower 3F, 2-2-24 Higashishinagawa Shinagawaku Tokyo
140-0002 JAPAN
Tel:
03-6712-9721 Fax: 03-6712-9461
E-Mail
address: overseas@chieru.co.jp
Develops
computer software for education, other
Sapporo,
Sendai, Osaka, Nagoya, Fukuoka, Okinawa
(subcontracted)
MUTSUMI
KAWAI, PRES Kazuhiro Moriya, dir
Takao
Osawa, dir Satoshi
Ajisaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,210 M
PAYMENTSREGULAR CAPITAL Yen
300 M
TREND SLOW WORTH Yen 582 M
STARTED 2006 EMPLOYES 70
PC SOFTWARE DEVELOPER FOR EDUCATION.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established
as a JV of Alps System Integration Co Ltd and Obunsha Co Ltd (one of the
largest education publishers in Japan), to meet its growing needs of ICT in
education for Japanese schools. One of
its primary goals is producing ICT environments for teaching and learning in
schools. The service includes software
& system products, teaching and learning resources and strategic consulting
for school ICT environments in both primary and higher education. The name of the company, Chieru, comes from
the combination of two Japanese words: Chi
means knowledge, and Eru means
acquire, making it Chieru.
The sales volume for Mar/2012 fiscal term amounted to Yen
1,210 million, a 10% down from Yen 1,340 million in the previous term. The sales were affected by the Great North
Japan Earthquake that occurred in Mar 2011.
Schools and offices were washed away, with children shifting to other
outside schools, other. The recurring
profit was posted at Yen 157 million and the net profit at Yen 100 million,
respectively, compared with Yen 117 million net profit a year ago.
For the current term ending Mar 2013 the recurring profit is
projected at Yen 170 million and the net profit at Yen 110 million,
respectively, on a 7% rise in turnover, to Yen 1,300 million.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: Oct 2006
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
24,000 shares
Issued:
6,000 shares
Sum: Yen 300 million
Major shareholders
(%): Obunsha Co Ltd (35), Alps System Integration Co (10),
Employees’ S/Holding Assn (5)
No. of shareholders: 20
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Develops PC software for education:
digital language lab, language teaching system, classroom management, leaning
management system, digital recorder, AV accessories (AV control system,
multi-media headset, USB sound unit), other (--100%)
Clients: [Mfrs, wholesalers] Totsu Sangyo Corp,
Alfatec Inc, Hitachi/NEC group firms, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Publishers, wholesalers] Obunsha Co,
Alps System Integration, ADTECH, other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Iidabashi)
SMBC
(Yukigaya)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
1,300 |
1,210 |
1,340 |
1,500 |
|
Recur.
Profit |
|
170 |
157 |
|
|
|
Net
Profit |
|
110 |
100 |
117 |
104 |
|
Total
Assets |
|
|
1,101 |
981 |
N/A |
|
Current
Assets |
|
|
620 |
704 |
|
|
Current
Liabs |
|
|
489 |
477 |
|
|
Net
Worth |
|
|
582 |
482 |
365 |
|
Capital,
Paid-Up |
|
|
300 |
300 |
300 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
7.44 |
-9.70 |
-10.67 |
11.11 |
|
|
Current Ratio |
|
.. |
126.79 |
147.59 |
.. |
|
N.Worth Ratio |
.. |
52.86 |
49.13 |
.. |
|
|
R.Profit/Sales |
|
13.08 |
12.98 |
.. |
.. |
|
N.Profit/Sales |
8.46 |
8.26 |
8.73 |
6.93 |
|
|
Return On Equity |
.. |
17.18 |
24.27 |
28.49 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.37 |
|
|
1 |
Rs.82.07 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.