MIRA INFORM REPORT

 

 

Report Date :

09.11.2013

 

IDENTIFICATION DETAILS

 

Name :

VTV JAPAN INC

 

 

Registered Office :

Daini Funato Bldg 6F, 1-11-11 Kudan-Kita Chiyodaku Tokyo 102-0073

 

 

Country :

Japan

 

 

Financials (as on) :

30.09.2012

 

 

Date of Incorporation :

January, 1995

 

 

Com. Reg. No.:

0100-01-089833 (Tokyo-Chiyodaku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Sale, rental, maintenance of videoconference systems, operation of videoconference rooms

 

 

No. of Employees :

31

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit:

Yen 1.5 million

Status :

Moderate

Payment Behaviour :

Slow but Correct

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

 

company name

 

VTV JAPAN INC

 

 

REGD NAME 

 

VTV Japan KK

 

 

MAIN OFFICE

 

Daini Funato Bldg 6F, 1-11-11 Kudan-Kita Chiyodaku Tokyo 102-0073 JAPAN

Tel: 03-5210-5021     

Fax: 03-5210-5022

 

URL:                 http://www.vtv.co.jp

E-Mail address: roominfo@vtv.co.jp

 

 

ACTIVITIES  

 

Sale, rental, maintenance of videoconference systems, operation of videoconference rooms

 

 

BRANCHES   

 

Osaka

 

 

FACTORIES  

 

(subcontracted-subsidiaries)

 

 

OFFICERS

 

MASANORI KAYANO, PRES

Takafumi Tamura, dir

Kiyoko Yamada, dir       

           

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        R/WEAK                       A/SALES          Yen 669 M

PAYMENTS      SLOW BUT CORRECT   CAPITAL           Yen 80 M

TREND             UP                                WORTH            Yen 14 M

STARTED         1995                             EMPLOYES      31

 

 

COMMENT    

 

SALE, RENTAL OF VIDEOCONFERENCE SYSTEMS.

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

MAX CREDIT LIMIT: YEN 1.5 MILLION, 30 DAYS NORMAL TERMS         

           

 

HIGHLIGHTS

           

The subject company was established by Masanori Kayano in order to make most of his experience in the subject line of business.  This company specializes in sale, rental, and maintenance services of videoconference systems.  Also operates rental videoconference rooms.  In Nov 1999, signed sales contract with VTEL Corp, USA; in Jan 2001 signed sales contract with TANDBERG Telecom AS, Norway; and in Jan 2004 with Aethra Spa, Italy, which ended in Apr 2010.  Clients include telecommunication companies, electric rental companies, other.

 

 

FINANCIAL INFORMATION

 

The sales volume for Sept/2012 fiscal term amounted to Yen 669 million, a 6% up from Yen 634 million in the previous term.  System maintenance services increased.  The recurring profit was posted at Yen 10 million and the net profit at Yen 1 million, respectively, compared with Yen 66 million recurring loss and yen 66 million net losses, respectively, a year ago.

 

For the term that ended Sept 2013 the recurring profit is projected at Yen 20 million and the net profit at Yen 10 million, respectively, on a 5% rise in turnover, to Yen 700 million.  Final results are yet to be released.

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 1.5 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:          Jan 1995

Regd No.:                                 0100-01-089833 (Tokyo-Chiyodaku)

Legal Status:               Limited Company (Kabushiki Kaisha)

Authorized:                  6,400 shares

Issued:                         1,600 shares

Sum:                             Yen 80 million

Major shareholders (%): Koji Aiba (37.5), Masanori Kayano (5), Ken’ichi Nakagawa (25), Kazuko Nakagawa

(2.5)

No. of shareholders:    4

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Sale, rental and maintenance services of videoconference systems, operation of rental videoconference rooms, others (--100%)

 

Clients: [Mfrs, wholesalers] Otsuka Corp (16.2%), Odelic Co (6.1%), KDDI (5.2%), NTT West Japan (4.8%), other

No. of accounts: 500

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Mitsubishi Electric System Service, Otsuka Corp, Omron Field Engineering, Mainichi Video Audio System Inc, other

 

Payment record: Slow but Correct

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

Shoko Chukin Bank (Tokyo)

Jonan Shinkin Bank (Omori)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

       Terms Ending:

30/09/2013

30/09/2012

30/09/2011

30/09/2010

Annual Sales

　

700

669

634

951

Recur. Profit

　

20

10

-66

　

Net Profit

　

10

1

-66

31

Total Assets

　

　

391

375

537

Current Assets

　

　

283

275

　

Current Liabs

　

　

162

99

　

Net Worth

　

　

14

13

80

Capital, Paid-Up

　

　

80

80

80

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.63

5.52

-33.33

28.34

    Current Ratio

 

..

174.69

277.78

..

    N.Worth Ratio

..

3.58

3.47

14.90

    R.Profit/Sales

 

2.86

1.49

-10.41

..

    N.Profit/Sales

1.43

0.15

-10.41

3.26

 

Notes: Forecast (or estimated) figures for the 30/09/2013 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.73

UK Pound

1

Rs.100.92

Euro

1

Rs.84.06

 

 

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

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.