|
Report Date : |
09.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
NIKKO ASSET MANAGEMENT CO LTD |
|
|
|
|
Registered Office : |
Mid-Town Tower, 9-7-1 Akasaka Minatoku
Tokyo 107-0052 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2014 (Estimated) |
|
|
|
|
Date of Incorporation : |
June 1959 |
|
|
|
|
Com. Reg. No.: |
0104-01-072159
(Tokyo-Minatoku) |
|
|
|
|
Legal Form : |
Limited
Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Subject is an Asset Management Company, Managing Mutual Funds, Etfs and Institutional Segregated
Accounts, Providing Active as well as Passive Investment Solutions for
Individual & Institutional Clients |
|
|
|
|
No. of Employees |
423 |
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 |
|
Maximum Credit Limit : |
Yen 2,661.1 Million |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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 |
NIKKO ASSET MANAGEMENT CO LTD
Nikko Asset
Management KK
Mid-Town Tower,
9-7-1 Akasaka Minatoku Tokyo 107-0052 JAPAN
Tel:
03-6447-6000 Fax: 03-6447-6001
URL: http://www.nikkoam.com
E-Mail address: (thru the URL)
Subject is an Asset Management Company, Managing Mutual Funds, Etfs and Institutional Segregated
Accounts, Providing Active as well as Passive Investment Solutions for
Individual & Institutional Clients
Kanto Finance Bureau No.368
Osaka
UK,
USA, Singapore, Australia, New Zealand, China, Malaysia, other
TAKUMI
SHIBATA, PRES Hideo
Abe, v ch
Masahiko
Murakami, v pres Frederick
Reidenbach, v pres
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 54,771 M
PAYMENTS Regular
CAPITAL Yen 17,363 M
TREND SLOW WORTH Yen
46,408 M
STARTED 1959 EMPLOYES 423
ASSET MANAGEMENT COMPANY.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 2,661.1 MILLION, 30 DAYS NORMAL TERMS
The subject company is Asset
Management Company, managing mutual funds, ETFs and institutional segregated
accounts, providing active & passive investment solutions for individual
& institutional clients, across Asia and around the world. Clients include banking institutions,
security firms, other.
The sales volume for Mar/2013 fiscal term amounted to Yen 54,771
million, a 7% down from Yen 58,724 million in the previous term. The recurring profit was posted at Yen 4,265
million and the net profit at Yen 2,827 million, respectively, compared with
Yen 4,965 million recurring profit and Yen 2,570 million net profit, respectively,
a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 4,300 million and the net profit at Yen 2,900 million, respectively, on
a 3% rise in turnover, to Yen 56,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit
limit is estimated at Yen 2,661.1 million, on 30 days normal terms.
Date Registered: Jun 1959
Regd No.: 0104-01-072159 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 138
million shares
Issued: 34.726 million shares
Sum: Yen 17.363 million
Major shareholders (%): Sumitomo Mitsui Trust Bank
(51), DBS Bank Ltd (10)
No. of shareholders: 15
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Asset Management
Company (100%)
Clients: [Mfrs,
wholesalers] SMBC Nikko Securities, Mitsui Sumitomo Trust Bank, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: Trust Banks,
other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(H/O)
MUFG
(Nihombashi-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
56,500 |
54,771 |
58,724 |
55,231 |
|
Recur.
Profit |
|
4,300 |
4,265 |
4,965 |
|
|
Net
Profit |
|
2,900 |
2,827 |
2,570 |
3,195 |
|
Total
Assets |
|
|
57,478 |
55,502 |
55,361 |
|
Current
Assets |
|
|
25,862 |
26,345 |
|
|
Current
Liabs |
|
|
10,012 |
9,809 |
|
|
Net
Worth |
|
|
46,408 |
44,729 |
44,287 |
|
Capital,
Paid-Up |
|
|
17,363 |
17,363 |
17,363 |
|
Div.Ttl
in Million (¥) |
|
|
1,468 |
1,502 |
305 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.16 |
-6.73 |
6.32 |
5.61 |
|
|
Current Ratio |
.. |
258.31 |
268.58 |
.. |
|
|
N.Worth Ratio |
.. |
80.74 |
80.59 |
80.00 |
|
|
R.Profit/Sales |
7.61 |
7.79 |
8.45 |
.. |
|
|
N.Profit/Sales |
5.13 |
5.16 |
4.38 |
5.78 |
|
|
Return On Equity |
.. |
6.09 |
5.75 |
7.21 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.20 |
|
|
1 |
Rs.99.52 |
|
Euro |
1 |
Rs.80.83 |
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.