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Report Date : |
16.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
FRANCE TRAVEL CENTER SA |
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|
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Registered Office : |
Nihon Seimei Ichibancho Bldg, 23-3 Ichibancho Chiyodaku Tokyo 102-0062 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2013 |
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Date of Incorporation : |
March, 1977 |
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Com. Reg. No.: |
0100-01-028387
(Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Travel Agent |
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No. of Employees : |
8 |
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 |
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|
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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 |
|
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 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
FRANCE TRAVEL CENTER SA
KK France Travel
Center
Nihon Seimei
Ichibancho Bldg, 23-3 Ichibancho Chiyodaku Tokyo 102-0062 JAPAN
Tel:
03-5210-2288 Fax: 03-5210-2018
URL: http://www.francetravel.co.jp
E-Mail address: info@francetravel.co.jp
Travel agent
Travel Agency
Tokyo-Gov No. 3-3881
Nil
MICHEL M AUR, PRES
(Only phonetically spelled)
Susumu Shimada,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 716 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 15 M
TREND UP WORTH Yen 78 M
STARTED 1977 EMPLOYES 8
TRAVEL AGENCY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Michel M Aur in order to make most of his experience
in the subject line of business. This is
a travel agent, centering travel to France.
Handles tourism trips into France, other. Clients include French Embassy
in Japan, other.
Financials are
only partially disclosed.
The sales volume
for Oct/2012 fiscal term amounted to Yen 716 million, a 3% up from Yen 698
million in the previous term. The number
of travelers increased thanks to the high Yen.
The operations came back to profitability to post Yen 16 million net
profit for the term, compared with Yen 20 million net losses a year ago.
For the current
term ending Oct 2013 the ne profit is projected at Yen 20 million, on a 5% rise
in turnover, to Yen 750 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar 1977
Regd No.:
0100-01-028387
(Tokyo-Chiyodaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 30,000 shares
Issued: 30,000
shares
Sum: Yen
15 million
Major
shareholders (%): Michel M Aur (73), Susumu Shimada (25), D Aur (2)
No. of shareholders: 3
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Travel agency (100%)
Clients: [Embassy,
business firms, travelers] Total Japan, French Embassy Japan, Valeo Japan Co, Saint Gobain KK, other
No. of
accounts: 200
Domestic
areas of activities: Nationwide
Suppliers: [Travel agents] ITS, Gallant
Tour Japan, Toppan Travel Service, Travel Plaza
International, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained
satisfactorily.
Bank References:
Resona Bank
(Akasaka)
SMBC
(Kojimachi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/10/2013 |
31/10/2012 |
31/10/2011 |
31/10/2010 |
|
Annual
Sales |
|
750 |
716 |
698 |
929 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
20 |
16 |
-20 |
7 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
78 |
62 |
82 |
|
Capital,
Paid-Up |
|
|
15 |
15 |
15 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.75 |
2.58 |
-24.87 |
8.78 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
2.67 |
2.23 |
-2.87 |
0.75 |
|
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/10/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.78 |
|
|
1 |
Rs.83.38 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.