|
Report No. : |
354982 |
|
Report Date : |
12.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
KODANSHA LTD |
|
|
|
|
Registered Office : |
2-12-21 Otowa Bunkyoku Tokyo 112-0013 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.11.2014 |
|
|
|
|
Date of Incorporation : |
December 1938 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Subject is A publisher of: books, magazines, comics, journals, other
(--100%) |
|
|
|
|
No. of Employee : |
905 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
Yen 5,697.1 Million |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 an 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. Scarce in many natural resources, Japan has long been dependent on imported raw materials. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times since 2008. 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 of that year disrupted manufacturing. The economy has largely recovered in the four years since the disaster, although reconstruction in the affected Tohoku region has lagged, in part due to a shortage of labor in the construction sector. Japan enjoyed a sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s “Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of monetary easing, “flexible” fiscal policy, and structural reform. Abe’s government has replaced the preceding administration’s plan to phase out nuclear power with a new policy of seeking to restart nuclear power plants that meet strict new safety standards, and emphasizing nuclear energy’s importance as a base-load electricity source. Japan joined the Trans-Pacific Partnership (TPP) 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 2014 stood as the fourth-largest economy in the world after first-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012. While seeking to stimulate and reform the economy, the government must also devise a strategy for reining in Japan's huge government debt, which amounts to more than 230% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8% implemented in April 2014. That increase had a contractionary effect on GDP, however, so PM Abe in late 2014 decided to postpone the final phase of the increase until April 2017 to give the economy more time to recover. Led by the Bank of Japan’s aggressive monetary easing, Japan is making progress in ending deflation, but demographics - low birthrate and an aging, shrinking population - pose major long-term challenges for the economy.
|
Source
: CIA |
KODANSHA LTD
REGD NAME: KK Kodansha
MAIN OFFICE: 2-12-21 Otowa Bunkyoku Tokyo 112-0013 JAPAN
Tel:
03-3945-1111 Fax: 03-3943-8584
*.. The
given “Courrier Japon” is published by the firm
URL: http://www.kodansha.co.jp
E-Mail address: (thru the URL)
Publisher (books, magazines, comics, journals, other)
Osaka, Nagoya, Saitama, Okegawa, Sayama, other (Tot 6)
USA, Taiwan, China, Europe
(subsidiaries)
YOSHINOBU NOMA, PRES Takefumi
Mori, s/mgn dir
Takashi Yamane, s/mgn dir Yasumasa
Shimizu, mgn dir
Satoshi Suzuki, mgn dir Norio
Kanamaru, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 119,064 M
PAYMENTS REGULAR CAPITAL Yen 300 M
TREND STEADY WORTH
Yen 149,200 M
STARTED 1938 EMPLOYES 905
PUBLISHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 5,697.1 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company is a publisher of books, magazines, comics,
journals, including the given “Courrier Japon” (a monthly world news
magazine). Tied up with Courier
International (France) and publishes the magazine, also New York Times, Le
Mondo, Financial Times, other, for over 1,500 media worldwide. Clients are book sales offices, bookstores,
other.
The sales volume for Nov/2014 fiscal term amounted to Yen 119,064
million, a 1% down from Yen 120,272 million in the previous term. Sales of magazines and advertisement fees
decreased. The recurring profit was posted
at Yen 5,300 million and the net profit at Yen 2,755 million, respectively,
compared with Yen 4,825 million recurring profit and Yen 3,214 million net
profit, respectively, a year ago.
For the current term ending Nov 2015 the recurring profit was projected
at Yen 5,450 million and the net profit at Yen 2,850 million, respectively, on
a 3% rise in turnover, to Yen 122,650 million.
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 5,697.1 million, on 30 days normal terms.
Date Registered: Dec 1938
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 24 million shares
Issued:
6 million shares
Sum: Yen 300 million
Major shareholders
(%): Noma Bunka Zaidan (19.5), Employees’ S/Holding Assn (12.5), Otowa
Tatemono (6)
No. of shareholders: 27
Nothing detrimental is known as to the commercial morality of
executives.
Activities: A publisher of:
books, magazines, comics, journals, other (--100%)
Clients: [Mfrs,
wholesalers] Tohan Corp, Nippon Shuppan Hanbai Inc, Osakaya, Chuosha Co,
Nikkyohan Co, Kurita Shuppan Hanbai, Taiyosha Co, Tetsudo Kosaikai, Kyowa
Shuppan Hanbai, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Japan Pulp & Paper Co, Shinsei Pulp & Paper Co, Daiichi
Paper Inc, Kokusai Pulp & Paper Co, Itochu Pulp & Paper Corp, Toppan
Printing, Dai Nippon Printing, Kyodo Printing, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactory.
Bank References:
SMBC (Otsuka)
Resona Bank (Ikebukuro)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/11/2015 |
30/11/2014 |
30/11/2013 |
30/11/2012 |
|
|
Annual Sales |
|
122,650 |
119,064 |
120,272 |
117,871 |
|
Recur. Profit |
|
5,450 |
5,300 |
4,825 |
1,067 |
|
Net Profit |
|
2,850 |
2,755 |
3,214 |
1,550 |
|
Total Assets |
|
|
200,900 |
198,500 |
186,500 |
|
Current Assets |
|
|
73,000 |
71,000 |
64,200 |
|
Current Liabs |
|
|
32,900 |
32,600 |
32,200 |
|
Net Worth |
|
|
149,200 |
146,400 |
134,700 |
|
Capital, Paid-Up |
|
|
300 |
300 |
300 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.01 |
-1.00 |
2.04 |
-3.25 |
|
Current Ratio |
|
.. |
221.88 |
217.79 |
199.38 |
|
N.Worth Ratio |
|
.. |
74.27 |
73.75 |
72.23 |
|
R.Profit/Sales |
|
4.44 |
4.45 |
4.01 |
0.91 |
|
N.Profit/Sales |
|
2.32 |
2.31 |
2.67 |
1.31 |
|
Return On Equity |
|
.. |
1.85 |
2.20 |
1.15 |
Notes: Forecast (or estimated) figures for the 30/11/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
YEN |
1 |
Rs.0.56 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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.