|
Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
JTB COMMUNICATIONS INC |
|
|
|
|
Registered Office : |
IK Bldg 3F, 2-24-9 Kamiosaki Shinagawaku
Tokyo 141-0021 |
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|
|
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Country : |
Japan |
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|
|
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 1988 |
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|
|
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Legal Form : |
Limited Company |
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|
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Line of Business : |
Marketing research, communications, advertizing |
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|
|
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No. of Employees : |
494 |
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 435.5 Million |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
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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 COMMUNICATIONS INC
REGD NAME: KK
JTB Communications
MAIN OFFICE: IK
Bldg 3F, 2-24-9 Kamiosaki Shinagawaku Tokyo 141-0021 JAPAN
Tel:
03-5434-8160 Fax: 050-3737-1861
E-Mail address: info@jtbcom.co.jp
Marketing
research, communications, advertizing, other
Osaka, Sendai
China
Japan Information
Processing Development Corp (JIPDEC) No. 20000643
Osaka Prefectural
Public Safety Commission No. 2121
NORIYUKI SAKAMOTO,
PRES Shinji Yamaide, dir
Fumihiko Ueno, dir Masaaki Nagai, dir
Mitsuru Tani, dir Hiroki Furuno, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 24,283 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 100 M
TREND UP WORTH Yen 2,928 M
STARTED 1988 EMPLOYES 494
RESEARCH, COMMUNICATIONS COMPANY, OWNED BYTTB CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 510.4 MILLION, 30 DAYS NORMAL TERMS
The subject company was established on the basis of a division separated
from JTB Corp (See REGISTRATION). This is a total
communications/advertising/promotion company offering: marketing research,
event planning, other (See OPERATION). Clients include public agencies, business
firms, governments, and other, nationwide
The sales volume for Mar/2014 fiscal term amounted to Yen 24,283 million,
a 3% up from Yen 23,499 million in the previous term. Event & conventions planning &
operations business rose. The recurring
profit was posted at Yen625 million and the net profit at Yen 381 million,
respectively, compared with Yen 729 million recurring profit and Yen 392
million net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 640 million and the net profit at Yen 400 million, respectively, on a 3%
rise in turnover, to Yen 25,000 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 435.5 million, on 30 days normal terms.
Date Registered: Apr
1988
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued: 200,000 shares
Sum: Yen 100 million
Major
shareholders (%): JTB Corp* (99), McCann Worldgroup Holdings Inc (1)
No. of shareholders: 2
*.. Travel agency, Tokyo, founded 1963,
capital Yen 2,304 million, sales Yen 1,305,165 million, operating profit Yen
13,497 million, recurring profit Yen 15,438 million, net profit Yen 7,589
million, total assets Yen 611,652 million, net worth Yen 150,625 million,
employees 26,082, pres Hiroyuki Takahashi
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Total planning,
advertising, promotion company offering: marketing research & analysis, planning,
advertising/promotion, event & convention planning & operations,
facilities management, public finance initiative projects, creative production
& printing, information processing/information services, public relations,
tourism industry, consulting/regional promotions/visitor generation &
exchange, language interpreting/translation, security & safety consulting,
travel agency (licensed), insurance agency, other (--100%)
Clients: [Public agencies,
business firms, wholesalers] Government & Municipal Offices, Ministry of
the Environment, JTB Corp, JR Tokai Agencies, Science Council of Japan,
other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] JTB Corp, newspaper publishing companies, TV stations, publishers,
railway companies, event operating companies, other.
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Meguro)
MUFG (Nakanoshima)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
25,000 |
24,283 |
23,499 |
21,690 |
|
Recur.
Profit |
|
640 |
625 |
729 |
655 |
|
Net
Profit |
|
400 |
381 |
392 |
254 |
|
Total
Assets |
|
|
9,244 |
9,305 |
10,100 |
|
Current
Assets |
|
|
7,785 |
8,118 |
8,939 |
|
Current
Liabs |
|
|
6,138 |
6,668 |
7,882 |
|
Net
Worth |
|
|
2,928 |
2,594 |
2,194 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.Ttl
in Million (¥) |
|
|
52 |
49 |
42 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.95 |
3.34 |
8.34 |
1.02 |
|
Current Ratio |
|
.. |
126.83 |
121.75 |
113.41 |
|
N.Worth Ratio |
|
.. |
31.67 |
27.88 |
21.72 |
|
R.Profit/Sales |
|
2.56 |
2.57 |
3.10 |
3.02 |
|
N.Profit/Sales |
|
1.60 |
1.57 |
1.67 |
1.17 |
|
Return On Equity |
|
.. |
13.01 |
15.11 |
11.58 |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.31 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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.