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Report Date : |
08.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
AJCC CORPORATION |
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Registered Office : |
Kagurazaka 1-chome Bldg 2F, 1-15 Kagurazaka Shinjukuku |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
June 1987 |
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Com. Reg. No.: |
0111-01-002625 |
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Legal Form : |
Limited Company |
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Line of Business : |
Leasing of CATV terminals
& equipment |
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No. of Employees : |
35 |
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 : |
Satisfactory |
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
AJCC CORPORATION
REGD NAME: AJCC
KK
MAIN OFFICE: Kagurazaka
1-chome Bldg 2F, 1-15 Kagurazaka Shinjukuku
Tel:
03-3266-1631 Fax: 03-3266-1634
E-Mail
address: (thru the URL)
Leasing
of CATV terminals & equipment
Osaka
KEIICHI
HASHIMOTO, PRES Satoshi Igarashi, dir
Tadashi
Hashimoto, dir Toshifumi
Shibuya, dir
Yuichiro
Ueda, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 3,547 M
PAYMENTSNo
Complaints CAPITAL Yen 400 M
TREND SLOW WORTH Yen 2,874 M
STARTED 1987 EMPLOYES 35
LEASING OF CATV TERMINALS & EQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Sumitomo Corp and other major partners and in June
2009 the part of the ownership was transferred to Sumitomo Mitsui Finance and
Leasing Co Ltd and became its equity-method affiliate. This is a leasing company of
equipment/terminals for CATV operators.
AJCC is short for “All Japan Converter Center”. It covers the nationwide CATV operators. Equipment/terminals are also sold.
The sales
volume for Mar/2014 fiscal term amounted to Yen 3,547 million, a 0.4% down from
Yen 3,561 million in the previous term.
Leasing business was decreased.
The recurring profit was posted at Yen 458 million and the net profit at
Yen 283 million, respectively, compared with Yen 759 million recurring profit
and Yen 468 million net profit, respectively, a year ago.
For the
current term ending Mar 2015 the recurring profit is projected at Yen 460
million and the net profit at Yen 290 million, respectively, on a 3% rise in
turnover, to Yen 3,650 million.
The
financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jun 1987
Regd No.: 0111-01-002625 (Tokyo-Shinjukuku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
22480 shares
Issued:
5,620 shares
Sum: Yen 400 million
Major shareholders (%): Sumitomo Mitsui Financial Group
Inc* (95), Sumitomo Corp (5)
No. of shareholders: 2
*.. Sumitomo Mitsui Financial
Group Inc, leasing & loans company, founded 2002, listed Tokyo S/E, capital
Yen 2,337,895 million, sales Yen 4,641,880 million, operating profit Yen
1,432,332 million, recurring profit Yen 835,357 million, net profit Yen 835,357
million, total assets Yen 161,534,387 million, net worth Yen 7,279,186 million,
employees 66,475, pres Koichi Miyata
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Leasing of equipment/terminals for
CATV operators, including sale of them (--100%)
Clients: [Mfrs, wholesalers] Jupiter Telecom
(70%), Star Cat Cable Network, Community Network Center, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Panasonic System
Solutions, Jupiter Telecommunications, Pioneer Corp, Community Network Center,
Broadnet Max, other
Payment record: no
complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(Tokyo)
MUFG
(Iidabashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
3,650 |
3,547 |
3,561 |
3,101 |
|
Recur.
Profit |
|
460 |
458 |
759 |
923 |
|
Net
Profit |
|
290 |
283 |
468 |
539 |
|
Total
Assets |
|
|
59,738 |
61,728 |
72,876 |
|
Current
Assets |
|
|
59,581 |
61,644 |
72,789 |
|
Current
Liabs |
|
|
25,892 |
24,658 |
27,594 |
|
Net
Worth |
|
|
2,874 |
2,590 |
2,122 |
|
Capital,
Paid-Up |
|
|
400 |
400 |
400 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.90 |
-0.39 |
14.83 |
13.01 |
|
Current Ratio |
|
.. |
230.11 |
250.00 |
263.79 |
|
N.Worth Ratio |
|
.. |
4.81 |
4.20 |
2.91 |
|
R.Profit/Sales |
|
12.60 |
12.91 |
21.31 |
29.76 |
|
N.Profit/Sales |
|
7.95 |
7.98 |
13.14 |
17.38 |
|
Return On Equity |
|
.. |
9.85 |
18.07 |
25.40 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.43 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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.