|
Report Date : |
01.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
JTB CORPORATION |
|
|
|
|
Registered Office : |
JTB Bldg, 2-3-11 Higashi-Shinagawa Shinagawaku Tokyo 140-0002 |
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|
|
|
Country : |
Japan |
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|
|
|
Financials (as on) : |
31.03.2014 |
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|
|
|
Date of Incorporation : |
November, 1963 |
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|
|
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Com. Reg. No.: |
0107-01-012663 |
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|
|
Legal Form : |
Limited Company |
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|
|
|
Line of Business : |
Travel agency |
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|
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No. of Employees : |
1200 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
YEN 20,448.2 MILLION |
|
|
|
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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. 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 |
JTB CORPORATION
REGD NAME: KK
JTB
MAIN OFFICE: JTB Bldg,
2-3-11 Higashi-Shinagawa Shinagawaku Tokyo 140-0002 JAPAN
Tel:
03-5479-2211 Fax: 03-5796-5848
URL: http://www.jtb.co.jp
E-Mail
address: (thru the URL)
Travel
agency
791 domestic,
482 overseas (worldwide)
482
locations
HIROYUKI TAKAHASHI, PRES
Hiromi Tagawa, ch
Masayuki Kono, mgn dir Minoru Kubota, mgn dir
Yasuo Suenaga, mgn dir
Yasuhisa Otani,
mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,305,136 M
PAYMENTSREGULAR CAPITAL Yen
2,304 M
TREND STEADY WORTH Yen 131,347 M
STARTED 1963 EMPLOYES 1,200
TRAVEL AGENCY.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: ESTIMATED AT YEN 20,448.2 MILLION, ON 30 DAYS
NORMAL TERMS.
This is the leading travel agency in Japan founded in 1963
as Japan Traffic Cooperative. It offers
sea, land and air travel arrangement, including hotels, restaurants,
other. Has 791 branch offices
domestically (from Hokkaido to Okinawa), and 482 overseas.
The sales volume for Mar/2014 fiscal term amounted to Yen
1,305,136 million, a 6% up from Yen 1,235,453 million in the previous
term. Travelers increased both
domestically and overseas. The recurring
profit was posted at Yen 15,438 million and the net profit at Yen 7,589
million, respectively, compared with Yen 18,494 million recurring profit and
Yen 8,624 million net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is
projected at Yen 17,000 million and the net profit at Yen 7,700 million,
respectively, on a 5% rise in turnover, to Yen 1,370,000 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 20,448.2 million, on 30 days normal terms.
Date Registered:
November, 1963
Regd No.: 0107-01-012663 (Tokyo-Shinagawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 18.4 million shares
Issued: 4.6 million shares
Sum: Yen 2,304 million
Major shareholders (%): Japan Travel Bureau Foundation
(29.6), JR East (21.8), JR Tokai (12.5), Employees’ S/Holding Assn (8.4), JTB
Contract Hotel Assn (7.0)
No. of shareholders: 18
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Travel agency (100%)
Clients:
[Mfrs, wholesalers] JTB Group firms, contract agents, JTB
Hokkaido, JTB Tohoku, JTB Kanto, travelers, other
No. of accounts: 1,000
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] JAL, All Nippon Airways, ANA Sales,
Jalpak Inc, Japan Railways, hotels, restaurants, inns, other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactory.
Mizuho Bank (H/O)
MUFG (Tokyo)
Relations: Satisfactory
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
1,370,000 |
1,305,136 |
1,235,453 |
1,136,980 |
|
Recur.
Profit |
|
17,000 |
15,438 |
18,494 |
12,694 |
|
Net
Profit |
|
7,700 |
7,589 |
8,624 |
3,347 |
|
Total
Assets |
|
|
579,616 |
586,330 |
552,400 |
|
Current
Assets |
|
|
382,033 |
365,817 |
338,919 |
|
Current
Liabs |
|
|
386,001 |
378,535 |
364,317 |
|
Net
Worth |
|
|
131,347 |
141,908 |
123,602 |
|
Capital,
Paid-Up |
|
|
3,304 |
3,304 |
3,304 |
|
Div.P.Share(¥) |
|
|
100.00 |
100.00 |
100.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.97 |
5.64 |
8.66 |
-2.55 |
|
Current Ratio |
|
.. |
98.97 |
96.64 |
93.03 |
|
N.Worth Ratio |
|
.. |
22.66 |
24.20 |
22.38 |
|
R.Profit/Sales |
|
1.24 |
1.18 |
1.50 |
1.12 |
|
N.Profit/Sales |
|
0.56 |
0.58 |
0.70 |
0.29 |
|
Return On Equity |
|
.. |
5.78 |
6.08 |
2.71 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.77.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
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.