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Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
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Name : |
OVERSEAS TRAVEL AGENCY CO LTD |
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Registered Office : |
Ginza NS Bldg 5F, 3-7-16 Ginza Chuoku Tokyo 104-0061 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2013 |
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Date of Incorporation : |
April, 1976 |
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Com. Reg. No.: |
0100-01-039634 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Subject is a Travel Agency |
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No. of Employees : |
93 |
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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Maximum Credit Limit : |
Yen 253.8 million |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has overturned his predecessor's plan to
permanently close nuclear power plants and is pursuing an economic
revitalization agenda of fiscal stimulus, monetary easing, and structural
reform. Japan joined the Trans Pacific Partnership negotiations in 2013, a pact
that would open Japan's economy to increased foreign competition and create new
export opportunities for Japanese businesses. Measured on a purchasing power
parity (PPP) basis that adjusts for price differences, Japan in 2013 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 is exceeding 230% of
GDP. To help raise government revenue and reduce public debt, Japan decided in
2013 to gradually increase the consumption tax to a total of 10% by the year
2015. Japan is making progress on ending deflation due to a weaker yen and
higher energy costs, but reliance on exports to drive growth and an aging,
shrinking population pose other major long-term challenges for the economy.
|
Source
: CIA |
OVERSEAS TRAVEL
AGENCY CO LTD
REGD NAME: KK Overseas Travel
MAIN OFFICE: Ginza NS Bldg 5F, 3-7-16 Ginza Chuoku Tokyo 104-0061
JAPAN
Tel:
03-3567-2244
Fax: 03-3564-4956
*.. The is
its Osaka Office
URL: http://www.cruise.ota.com
E-Mail address: (thru the URL)
Travel Agency
Osaka, Nagoya, Fukuoka
Singapore, Thailand, Hong Kong, Canada, USA, other (--business partners)
YUKIHIKO KAGIYAMA, PRES Masatoshi
Nagao, mgn dir
Masao Konda, mgn dir Hiroko
Sugiura, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 13,700 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 80 M
TREND SLOW WORTH Yen 339 M
STARTED 1976 EMPLOYES 93
TRAVEL AGENCY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 253.8 MILLION, ON 30 DAYS NORMAL
TERMS.
The subject company was established by father of Yukihiko Kagiyama in
order to make most of his experience in the subject line of business. This is a travel agency: airline booking,
organizing overseas tours, hotel arrangement, other, acting as agent for
airlines overseas.
Subject line of business.
Financials are disclosed only partially.
The sales volume for May/2013 fiscal term amounted to Yen 13,700
million, a 10% down from Yen 15,300 million in the previous term. Sales decreased due to the decreased unit
prices for travels. The net profit was
posted at Yen 15 million, compared with Yen 18 million a year ago.
For the term that ended May 2014 the net profit was projected at Yen 18
million, on a 6% rise in turnover, to Yen 14,500 million. Weaker Yen should have contributed to raise
earnings in Yen terms. Final results are
yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 253.8 million, on 30 days normal terms.
Date Registered: Apr 1976
Regd No.: 0100-01-039634 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
640,000 shares
Issued:
160,000 shares
Sum: Yen 80 million
Major shareholders
(%): Yukihiko Kagiyama (83), Chie Kagiyama (8), Company’s Treasury Stock
(7), other
No. of
shareholders: 4
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Travel agency:
for arranging airlines, hotel booking, organizing overseas tours, rent-a-car
arrangement services, others related (--100%)
(Agent for): Singapore
Airlines, Delta Air Lines, Northwest Airlines, Asiana Airlines, Cathay Pacific
Airways, Emirates, Air Canada, Sri Lankan Airlines, Thai Airways International,
Qatar Airways, Lines, EVA Airways, Bangkok Airways, other
Clients: [Mfrs,
wholesalers, travelers] Meitetsu World Travel Inc, Nissin Travel Service, JST,
Eurasia Travel Co, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Singapore Airlines, Delta Air Lines, Air Canada, Emirates, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Mizuho Bank
(Ginza)
MUFG
(Yaesu-Dori)
Relations:
Satisfactory
|
Terms Ending: |
|
31/05/2014 |
31/05/2013 |
31/05/2012 |
31/05/2011 |
|
Annual Sales |
|
14,500 |
13,700 |
15,300 |
12,800 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
18 |
15 |
18 |
13 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
339 |
324 |
306 |
|
Capital, Paid-Up |
|
|
80 |
80 |
80 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.84 |
-10.46 |
19.53 |
-14.67 |
|
|
Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
|
N.Profit/Sales |
0.12 |
0.11 |
0.12 |
0.10 |
|
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/05/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.28 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.