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Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MERLIN ENTERTAINMENT JAPAN LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
May 2011 |
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Com. Reg. No.: |
0100-01-140059 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject Operates a theme park center: Legoland Discovery Center Tokyo
(Madame Tussauds), restaurants, shops, other (--100%) |
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No of Employees : |
About 300 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 40.8 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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.
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.
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Source
: CIA |
MERLIN
ENTERTAINMENT JAPAN LIMITED
Merlin Entertainment Japan KK
Tokyo Club Bldg 11F, 3-2-6 Kasumigaseki Chiyodaku Tokyo 100-0013 Japan
Tel: 03-3599-5157
URL: http://www.legolanddiscoverycenter.jp/tokyo
E-Mail address: tokyo@legolanddiscoverycenter.com
ACTIVITIES: Operator of Legoland Center Tokyo
(entertainments)
BRANCHES: Daiba (Tokyo), Nagoya
OVERSEAS: UK (the parent)
FACTORIES: Daiba (Tokyo) (Discovery Center Tokyo)
Decs Tokyo Beach,
1-6-1 Daiba Minatoku Tokyo 135-0091
OFFICERS: TATSUMASA HASHIMOTO, GENERAL MANAGER
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 1,192 M
PAYMENTS SLOW CAPITAL Yen 125 M
TREND UNDETD WORTH Yen 125 M
STARTED 2011 EMPLOYES 300 (about)
COMMENT: ENTERTAINMENT CENTER OPERATOR, OWNED BY UK CAPITAL. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 40.8 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established by Legoland Group (UK) as its Tokyo Office. The firm operates Legoland Discovery Center Tokyo (Madame Tussauds), at Daiba, Tokyo. It is planning to open a new center in Nagoya.
Financials are disclosed only partially for the Dec/2012 fiscal term.
The sales volume for Dec/2012 fiscal term for the initial accounting term amounted to Yen 1,192 million, with Yen 27 million net losses. The overheads and other charges to open a new place ate into profits.
For the term that ended Dec 2013 the operations were projected to be profitable, with sales turnover at around Yen 2,000 million, as reported. 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 40.8 million, on 30 days normal terms.
Date Registered: May
2011
Regd No.: 0100-01-140059
(Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 2,500 shares
Issued:
2,500 shares
Sum: Yen
125 million
Major shareholders
(%): Merlin Entertainments
Group Ltd (UK) (100)
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Operates a theme
park center: Legoland Discovery Center Tokyo (Madame Tussauds), restaurants,
shops, other (--100%)
Payment record: Slow
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Local Bank (Tokyo)
Relations: Satisfactory
(In Million Yen)
NOT DISCLOSED AND UNAVAILABLE
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.75 |
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1 |
Rs.100.07 |
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Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
TPT |
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 |
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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.