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Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
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Name : |
FRANCE TRAVEL CENTER SA |
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Registered Office : |
Nihon Seimei Ichibancho Bldg, 23-3 Ichibancho Chiyodaku |
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Country : |
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Financials (as on) : |
31.10.2013 |
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Date of Incorporation : |
March 1977 |
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Com. Reg. No.: |
0100-01-028387 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is a Travel agent |
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No. of Employees |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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|
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 |
FRANCE TRAVEL CENTER SA
REGD NAME: KK
France Travel Center
MAIN OFFICE: Nihon
Seimei Ichibancho Bldg, 23-3 Ichibancho Chiyodaku
Tel:
03-5210-2288 Fax: 03-5210-2018
URL: http://www.francetravel.co.jp
E-Mail address: info@francetravel.co.jp
Travel agent
Travel Agency Tokyo-Gov No. 3-3881
Nil
MICHEL M ARIAUR, PRES
(Only phonetically spelled)
Susumu Shimada,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 774 M
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 15 M
TREND UP WORTH Yen 81 M
STARTED 1977 EMPLOYES 10
TRAVEL AGENCY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Michel Mariaur in order to make
most of his experience in the subject line of business. This is a travel agency, centering travel to
France. Handles tourism trips into
France, other. Clients include French
Embassy in Japan, other.
Financials are only partially disclosed.
The sales volume for Oct/2013 fiscal term amounted to Yen 774 million,
an 8% up from Yen 716 million in the previous term. The net profit was posted at Yen 3 million,
compared with Yen 16 million a year ago.
For the current term ending Oct 2014 the net profit is projected at Yen
20 million, on a 6% rise in turnover, to Yen 820 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Mar 1977
Regd No.:
0100-01-028387 (Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 30,000 shares
Issued: 30,000 shares
Sum: Yen 15 million
Major shareholders (%): Michel M Aur
(73), Susumu Shimada (25), D Aur (2)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Travel agency
(100%)
Clients: [Embassy,
business firms, travelers] Total Japan, French Embassy Japan, Valeo Japan Co,
Saint Gobain KK, other
No. of accounts:
200
Domestic areas of
activities: Nationwide
Suppliers: [Travel agents]
ITS, Gallant Tour Japan, Toppan Travel Service, Travel Plaza International,
other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Resona Bank
(Akasaka)
SMBC (Kojimachi)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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31/10/2014 |
31/10/2013 |
31/10/2012 |
31/10/2011 |
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Annual
Sales |
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820 |
774 |
716 |
698 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
20 |
3 |
16 |
-20 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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|
81 |
78 |
62 |
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Capital,
Paid-Up |
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15 |
15 |
15 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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5.94 |
8.10 |
2.58 |
-24.87 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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|
.. |
.. |
.. |
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N.Profit/Sales |
|
2.44 |
0.39 |
2.23 |
-2.87 |
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/10/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.61 |
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|
1 |
Rs.100.48 |
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Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIS |
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.