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Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
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Name : |
SOFTBANK MOBILE
CORPORATION |
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Registered Office : |
Tokyo Shiodome Bldg, 1-9-1 Higashishimbashi Minatoku Tokyo 105-7317 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
December 1986 |
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Com. Reg. No.: |
(Tokyo-Minatoku) 052465 |
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Legal Form : |
Limited Company |
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Line of Business : |
· Provider of Mobile Phone Service for domestic/international call & messaging services, global roaming services & in-flight mobile phone services sale of mobile handsets, digital photo
frames, mobile data communication, smartphones & prepaid handsets |
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|
|
No of Employees : |
7,400 |
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 |
|
Status : |
Good |
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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 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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
SOFTBANK MOBILE CORPORATION
Softbank Mobile KK
Tokyo Shiodome Bldg,
1-9-1 Higashishimbashi Minatoku Tokyo 105-7317 JAPAN
Tel:
03-6889-6666
URL: http://www.mb-softbank.jp/mb/
E-mail: pr@softbank.co.jp
· Provider of Mobile Phone Service for domestic/international call & messaging services, global roaming services & in-flight mobile phone services
sale of mobile handsets, digital photo frames, mobile data
communication, smartphones & prepaid handsets
Sapporo,
Sendai, Nagoya, Osaka, Kanazawa, Hiroshima, Takamatsu, Fukuoka
MASAYOSHI
SON, PRES Ken Miyauchi, v pres
Jun’ichi
Miyagawa, dir Kazuhiko Fujiwara, dir
Shuichi
Kukita, dir Yasuyuki
Imai, dir
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 2,375,415 M
PAYMENTSREGULAR CAPITAL Yen
177,251 M
TREND STEADY WORTH Yen 1,494,437 M
STARTED 1986 EMPLOYES 7,400
MOBILE
PHONE SERVICE PROVIDER
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a mobile phone
service division separated from Softbank Corp, at the caption address. This is a mobile phone service provider for domestic
overseas communications. The number of
mobile phone subscribers stands at 32,480,000 as at Mar 2013, 24.7% share of
the Japan market.
The sales volume for Mar/2013 fiscal term amounted to Yen 2,315,415
million, a 7% up from Yen 2,173,150 million in the previous term. This is the result of strong growth in the
number of mobile phone subscribers. The
recurring profit was posted at Yen 463,668 million and the net profit at Yen
291,093 million, respectively, compared with Yen 383,231 million recurring
profit and Yen 432,117 million net profit, respectively, a year ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 500,000 million and the net profit at Yen 330,000 million, on a 10% rise in
turnover, to Yen 2,550,000 million. The
number of subscribers continued increasing.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Dec 1986
Regd No.: (Tokyo-Minatoku) 052465
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 11,444,229 shares
Issued: 5,427,893 shares
Sum: Yen
177,251 million
Major shareholders
(%):
BB Mobile (Softbank Corp*) (100)
* Softbank Corp, holding company of Softbank group firms & Yahoo
Inc, founded 1981, capital Yen 222,202 million, listed Tokyo S/E, sales Yen
6,666,651 million, operating profit Yen 1,085,362 million, recurring profit Yen
932,367 million, net profit Yen 586,149 million, total assets Yen 16,684,997
million, net worth Yen 2,858,670 million, employees 24,598, pres Masayoshi Son,
concurrently.
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Mobile phone
service provider: for domestic/international call & messaging services,
global roaming services, in-flight mobile phone services; sale of mobile
handsets, digital photo frames, mobile data communication, smartphones, prepaid
handsets, other (--100%)..
Clients: Users,
consumers, other
No. of accounts: 32,480,000 subscribers as of end/Mar/2013
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sharp Corp, Apple Japan, Panasonic Mobile Communications, E
Access, HTC Corporation, SoftBank 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 (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
2,550,000 |
2,315,415 |
2,173,150 |
1,972,947 |
|
Recur.
Profit |
|
500,000 |
463,668 |
383,231 |
336,360 |
|
Net
Profit |
|
330,000 |
291,093 |
432,117 |
174,488 |
|
Total
Assets |
|
|
2,169,208 |
3,023,492 |
3,490,420 |
|
Current
Assets |
|
|
997,215 |
814,208 |
1,053,680 |
|
Current
Liabs |
|
|
1,191,694 |
940,697 |
895,173 |
|
Net
Worth |
|
|
1,434,437 |
1,668,132 |
1,235,987 |
|
Capital,
Paid-Up |
|
|
177,251 |
177,251 |
177,251 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
10.13 |
6.55 |
10.15 |
14.35 |
|
|
Current Ratio |
|
.. |
83.68 |
86.55 |
117.71 |
|
N.Worth Ratio |
.. |
66.13 |
55.17 |
35.41 |
|
|
R.Profit/Sales |
|
19.61 |
20.03 |
17.63 |
17.05 |
|
N.Profit/Sales |
12.94 |
12.57 |
19.88 |
8.84 |
|
|
Return On Equity |
.. |
20.29 |
25.90 |
14.12 |
|
Notes: Forecast (or estimated)
figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
UK Pound |
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.