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Report Date : |
20.09.2013 |
IDENTIFICATION DETAILS
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Name : |
JAPAN CABLENET LIMITED |
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Registered Office : |
Metlife Kabutocho Bldg, 5-1 Nihombashi-Kabutocho Chuoku Tokyo 103-0026 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
Mar 2001 |
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Com. Reg. No.: |
0100-01-073281 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Subject is Specialized in Broadband
and supporting systems for CATV’s, other |
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No. of Employees : |
300 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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
JAPAN CABLENET
LIMITED
REGD NAME: Japan Cablenet KK
MAIN OFFICE: Metlife Kabutocho Bldg, 5-1 Nihombashi-Kabutocho Chuoku Tokyo 103-0026 JAPAN
Tel: 03-4284-7200
Fax: 03-4284-7300
URL: http://www.jcntv.jp
E-Mail address: jcn-info@jcntv.jp
Broadband and supporting systems
for CATV’s, other
Nil
KOJI FUJIMOTO, PRES
Hiroyuki Nakamura, v pres
Keiichi Nishida, dir
Makoto Takahashi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 31,057 M
PAYMENTS REGULAR CAPITAL Yen 34,872 M
TREND SLOW WORTH Yen 35,110 M
STARTED 2001 EMPLOYES 300
CATV SUPPORTING COMPANY.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established jointly by four companies: Fujitsu Ltd, Secom Co, Tokyo Electric
Power and Marubeni Corp. This company
specialized in supporting CATV broadcasting and companies, broadband,
other. Clients include CATV broadcasting
companies nationwide.
The sales volume for Mar/2013
fiscal term amounted to Yen 31,057 million, a 2% down from Yen 31,689 million
in the previous term. The recurring profit
was posted at Yen 988 million and the net profit at Yen 557 million,
respectively, compared with Yen 644 million recurring profit and Yen 332
million net profit, respectively, a year ago.
For the current term ending Mar
2014 the recurring profit is projected at Yen 995 million and the net profit at
Yen 560 million, respectively, on a 3% rise in turnover, to Yen 31,900
million.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar 2001
Regd No.: 0100-01-073281
(Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized:
2.7 million shares
Issued:
697,441 shares
Sum: Yen 34.872 million
Major shareholders (%): Japan Cablenet Holdings Inc (70.9), KDDI (22.1)
No. of shareholders: 136
Nothing
detrimental is known as to the commercial morality of executives.
Activities: CATV
broadband and broadcasting service/operating supporting company (--100%)
Clients: [Mfrs,
wholesalers] Ichikawa Cable Network, Ohta Cable Network, Odawara Cable TV,
Kamakura Cable Communications, other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Panasonic Corp, other
Payment record: Regular
Location: Business area
in Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References: Mizuho Bank (Kabutocho)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
31,900 |
31,057 |
31,689 |
30,290 |
|
Recur.
Profit |
|
995 |
988 |
644 |
732 |
|
Net
Profit |
|
560 |
557 |
332 |
387 |
|
Total
Assets |
|
|
88,098 |
86,073 |
86,732 |
|
Current
Assets |
|
|
15,028 |
16,238 |
17,100 |
|
Current
Liabs |
|
|
47,882 |
38,414 |
30,196 |
|
Net
Worth |
|
|
35,110 |
34,556 |
34,223 |
|
Capital,
Paid-Up |
|
|
34,872 |
34,872 |
34,872 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.71 |
-1.99 |
4.62 |
-1.32 |
|
|
Current Ratio |
|
.. |
31.39 |
42.27 |
56.63 |
|
N.Worth Ratio |
.. |
39.85 |
40.15 |
39.46 |
|
|
R.Profit/Sales |
|
3.12 |
3.18 |
2.03 |
2.42 |
|
N.Profit/Sales |
1.76 |
1.79 |
1.05 |
1.28 |
|
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 |
|
|
1 |
Rs.99.56 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.