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Report Date : |
20.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
AJCC CORPORATION |
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Registered Office : |
Kagurazaka 1-chome Bldg 2F, 1-15
Kagurazaka Shinjukuku Tokyo 162-0825 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
June 1987 |
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Com. Reg. No.: |
0111-01-002625
(Tokyo-Chinjukuku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Leasing of equipment/terminals
for CATV operators |
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|
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No. of Employees : |
29 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
|
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 |
AJCC CORPORATION
AJCC KK
Kagurazaka 1-chome
Bldg 2F, 1-15 Kagurazaka Shinjukuku Tokyo 162-0825 JAPAN
Tel:
03-3266-1631 Fax: 03-3266-1634
*.. Moved to the caption address from the one as given
E-Mail address: (thru the URL)
Leasing
of CATV terminals & equipment
Osaka
KEIICHI
HASHIMOTO, PRES
Masaru
Yokota, dir
Tadashi
Hashimoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 3,561 M
PAYMENTSNo Complaints
CAPITAL Yen 400 M
TREND UP WORTH Yen 2,590 M
STARTED 1987 EMPLOYES 29
LEASING OF CATV TERMINALS & EQUIPMENT.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by Sumitomo Corp and other major partners and in June 2009 the part of the ownership was transferred to Sumitomo Mitsui Finance and Leasing Co Ltd and became its equity-method affiliate. This is a leasing company of equipment/terminals for CATV operators. AJCC is short for “All Japan Converter Center”. It covers the nationwide CATV operators. Equipment/terminals are also sold.
The sales volume for Mar/2013 fiscal term amounted to Yen 3,561 million, a 15% up from Yen 3,101 million in the previous term. CATV operators increased. The recurring profit was posted at Yen 759 million and the net profit at Yen 468 million, respectively, compared with Yen 923 million recurring profit and Yen 539 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at Yen 950 million and the net profit at Yen 550 million, respectively, on a 5% rise in turnover, to Yen 3,750 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.
Date Registered: Jun 1987
Regd No.: 0111-01-002625 (Tokyo-Chinjukuku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized:
22480 shares
Issued:
5,620 shares
Sum: Yen 400 million
Major shareholders
(%): Sumitomo Mitsui Finance & Leasing Co Ltd* (95),
Sumitomo Corp (5)
No. of shareholders: 2
*.. Sumitomo Mitsui Finance & Leasing Co Ltd, leasing & loans company, founded 1963, capital Yen 15,000 million, sales Yen 992,201 million, operating profit Yen 57,631 million, recurring profit Yen 59,006 million, net profit Yen 30,840 million, total assets Yen 3,776,342 million, net worth Yen 602,163 million, employees 1,495, pres Yoshinori Kawamura
Nothing detrimental is known as to the commercial morality of executives.
Activities: Leasing of equipment/terminals for
CATV operators, including sale of them (--100%)
Clients: [Mfrs, wholesalers] Jcom West, Jcom East, Community Network Center, Starcat Cable Network, Jcom Tokyo, Jcom Saitama, Jcom Shonan, Cable Network Kobe Ashiya, Bay Communications, Jcom Kyushu, other (Jcom stands for Jupiter Communications)
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Panasonic System Solutions, Jupiter Telecommunications, Pioneer Corp, Community Network Center, Broadnet Max, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC (Tokyo)
MUFG (Iidabashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
3,750 |
3,561 |
3,101 |
2,744 |
|
Recur.
Profit |
|
950 |
759 |
923 |
1,034 |
|
Net
Profit |
|
550 |
468 |
539 |
607 |
|
Total
Assets |
|
|
61,718 |
72,876 |
76,852 |
|
Current
Assets |
|
|
61,644 |
72,789 |
76,746 |
|
Current
Liabs |
|
|
24,658 |
27,594 |
28,635 |
|
Net
Worth |
|
|
2,590 |
2,122 |
1,583 |
|
Capital,
Paid-Up |
|
|
400 |
400 |
400 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.31 |
14.83 |
13.01 |
35.04 |
|
|
Current Ratio |
|
.. |
250.00 |
263.79 |
268.01 |
|
N.Worth Ratio |
.. |
4.20 |
2.91 |
2.06 |
|
|
R.Profit/Sales |
|
25.33 |
21.31 |
29.76 |
37.68 |
|
N.Profit/Sales |
14.67 |
13.14 |
17.38 |
22.12 |
|
|
Return On Equity |
.. |
18.07 |
25.40 |
38.34 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
UK Pound |
1 |
Rs.99.56 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.