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Report Date : |
11.01.2014 |
IDENTIFICATION DETAILS
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Name : |
CHIERU CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
October
2006 |
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Com. Reg. No.: |
0111-01-025151
(Tokyo-Shinagawaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Engaged in
developing PC software for education including digital language lab, language
teaching system, classroom management, leaning management system, digital
recorder, AV accessories (AV control system, multi-media headset & USB
sound unit |
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No. of Employees : |
81 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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 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 |
CHIERU CO LTD
Chieru KK
Tannozu Central
Tower 3F, 2-2-24 Higashishinagawa Shinagawaku Tokyo140-0002 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 1,340 M
PAYMENTSNo Complaints
CAPITAL Yen 300 M
TREND UP WORTH Yen 648 M
STARTED 2006 EMPLOYES 81
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/2013 fiscal term amounted to Yen 1,340 million, an 11% up from Yen 1,210
million in the previous term. The
recurring profit was posted at Yen 218 million and the net profit at Yen 147
million, respectively, compared with Yen 157 million recurring profit and Yen
100 million net profit, respectively, a year ago.
For the current term
ending Mar 2014 the recurring profit is projected at Yen 230 million and the
net profit at Yen 155 million, respectively, on a 4% rise in turnover, to Yen
1,400 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Oct
2006
Regd No.: 0111-01-025151 (Tokyo-Shinagawaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
24,000 shares
Issued:
6,000 shares
Sum: Yen 300 million
Major shareholders
(%): Obunsha Co Ltd (15), Company’s Treasury Stock (14), 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, Daiwabo Information System, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Publishers, wholesalers] Obunsha Co, Alps System Integration, ADTECH,
other
Payment record: No Complaints
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)
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Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual
Sales |
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1,400 |
1,340 |
1,210 |
1,340 |
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Recur.
Profit |
|
230 |
218 |
157 |
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Net
Profit |
|
155 |
147 |
100 |
117 |
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Total
Assets |
|
|
1,344 |
1,101 |
981 |
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Current
Assets |
|
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1,208 |
620 |
704 |
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Current
Liabs |
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|
666 |
489 |
477 |
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Net
Worth |
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|
648 |
582 |
482 |
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Capital,
Paid-Up |
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|
300 |
300 |
300 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.48 |
10.74 |
-9.70 |
-10.67 |
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Current Ratio |
|
.. |
181.38 |
126.79 |
147.59 |
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N.Worth Ratio |
.. |
48.21 |
52.86 |
49.13 |
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R.Profit/Sales |
|
16.43 |
16.27 |
12.98 |
.. |
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N.Profit/Sales |
11.07 |
10.97 |
8.26 |
8.73 |
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Return On Equity |
.. |
22.69 |
17.18 |
24.27 |
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Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
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UK Pound |
1 |
Rs.102.06 |
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Euro |
1 |
Rs.84.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.