MIRA INFORM REPORT

 

 

Report No. :

354832

Report Date :

16.12.2015

 

IDENTIFICATION DETAILS

 

Name :

GE JAPAN CORP 

 

 

Registered Office :

15Fl Akasaka Park Bldg 5-2-20 Akasaka, Minato-ku, Tokyo 1076115

 

 

Country :

Japan

 

 

Financials (as on) :

2014

 

 

Date of Incorporation :

01.09.1999

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Providing Professional Services

 

 

No. of Employee :

1,550

 

 

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 :

USD $50,000,000  

 

 

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

 

 

Company Details

 

Global Identifier

:

P1875995

Country

:

Japan

Business Entity Name

:

GE JAPAN CORP (1)

Operating Address

:

15Fl Akasaka Park Bldg 5-2-20 Akasaka, Minato-ku, Tokyo 1076115

Tel

:

[+81] 3-35885280

Fax

:

[+81] 3-35885270

Website

:

http://www.ge.com

Primary Business Activity

:

Service

Primary Industry

:

Professional Services

 

 

Key Facts

 

Registered Legal Address

:

15Fl Akasaka Park Bldg 5-2-20 Akasaka, Minato-ku, Tokyo 1076115

Name History

:

Business Entity Name

Effective Date

GE JAPAN HOLDINGS CO LTD

1 Sep, 1999

GE JAPAN CORP

5 Dec, 2008

License Number

:

0104-01-077495

Date of Registration

:

1 Sep, 1999

Issuing Authority

:

Legal Affairs Bureau, Ministry of Justice - National

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Corporation

Legal Form - Abbreviation

:

CORP

License Status

:

License exists - Normal.

Operational Status of Business

:

Normal

Employees

:

1,550

Capital

:

n/a (2)

Note:

(1) Legal status of the English corporate name
The English name of the Subject Business Entity (SBE) is a randomly selected translation / transliteration made by the owners of the SBE. It is not a registered English corporate name, but simply a translation / transliteration of the local language name.

 

(2) Not applicable.
Based on the current corporate laws of Japan there is no longer a requirement for Authorized Capital.

 

 

Adverse Data

 Results

:

Total of  0  record found.

 

 

Financials - Summary  

 

(Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2012 Annual  

3,363,934,618

16,173,286,632

-520,980,736

2013 Annual  

2,843,388,787

13,517,434,369

-1,278,228,676

2014 Annual  

4,004,765,922

10,641,239,983

882,842,682

 

Sales Trend - Analysis

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

-

-

-

-

-

Description: http://www.asiancredit.com/Manage/image/up_arrow_04.gif

Description: http://www.asiancredit.com/Manage/image/up_arrow_04.gif

Description: http://www.asiancredit.com/Manage/image/down_arrow_04.gif

Description: http://www.asiancredit.com/Manage/image/down_arrow_04.gif

Description: http://www.asiancredit.com/Manage/image/up_arrow_04.gif

 

 

Recommended Credit Limit - Trade Finance

Maximum Recommended Credit

:

USD $50,000,000  based on  90 days

 

 

Key Person

Legal Title

:

President

Name

:

Ms. Akihiko Kumagai

Nationality

:

Japanese

 

 

Primary Products

Products / Materials / Services Description

Activity

Corporate administration

Service

Financial services

Service

Real estate agency

Service

Real estate brokerage

Service

Real estate leasing

Service

Full check Report Details

 

 

 

 

 

Country

:

Japan

Business Entity Name

:

GE JAPAN CORP

Primary Business Activity

:

Service

Primary Industry

:

Professional Services

Office Contact Details

Operating Address

:

15Fl Akasaka Park Bldg 5-2-20 Akasaka, Minato-ku, Tokyo 1076115

Tel

:

[+81] 3-35885280

Fax

:

[+81] 3-35885270

Website Details

Website

:

http://www.ge.com

Status

:

Normal - operational

Ownership Type

:

Registered ownership by a related third party

Owner Country

:

USA

Owner Name

:

GENERAL ELECTRIC CO

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Account/Audit/Bookkeeping Svc

8721

Service

Business Services

7300

Service

Legal Services

8100

Service

Patent Owners & Lessors

6794

Service

Public Relations Svcs

8743

Service

Real Estate

6500

Service

Real Estate Agents & Managers

6531

Service

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Accounting, auditing, and bookkeeping

9869

Service

Business services, health, financial/insur. legal/real estate, hotels, and misc repairs

9900

Service

Legal services

9939

Service

Public relations services

9876

Service

Real estate/agents and managers

9940

Service

 

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Real estate management

Primary

Service

Accounting

Secondary

Service

Leasing, businesses

Secondary

Service

Legal and current affairs

Secondary

Service

Patent work

Secondary

Service

Public relations (PR)

Secondary

Service

 

 

CORE BUSINESS DESCRIPTION

 

Core Business

The primary business focus of GE JAPAN CORP is Specialized professional services, including:

·         Financial services


Key services include :

·         Corporate administration

·         Real estate brokerage

·         Real estate agency

·         Real estate leasing

·         Real estate management

 

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

 

Direct Corporate Parent

:

GENERAL ELECTRIC CO

Global Identifier

:

T0000718

Legal Form Category

:

Public Listed Company

Country

:

USA

Operational Address

:

3135 Easton Turnpike Fairfield Connecticut 06431

Primary Business Activity

:

Manufacturer

 

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Akihiko Kumagai

Japanese

President

-

2

Ms. Yoko Oshiumi

Japanese

Auditor

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03932612

Name

:

Ms. Akihiko Kumagai

 

Management Details - 2

Personal Unique Identifier

:

MI03932618

Name

:

Ms. Yoko Oshiumi

 

 

FINANCIALS - SUMMARY 

 

(Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2008 Annual

n/a

2,621,310,552

-873,911,003

2009 Annual

723,016,138

10,830,439,622

-228,792,432

2010 Annual

3,698,237,885

17,463,936,183

-2,866,269,794

2011 Annual

4,135,861,082

18,368,353,278

-352,016,129

 

 

CAPITAL 

 

(Currency: JPY - Japanese Yen)

No. of Authorized Shares

:

2,604,084

Paid-up Capital

:

¥ 20,000,000,000

 

Date

Paid-up Capital - History

1 Sep, 1999

50,000,000

5 Aug, 2008

1,000,000,000

22 Oct, 2008

22,428,872,305

7 Dec, 2010

97,428,872,305

13 Dec, 2011

20,000,000,000

12 Nov, 2013

33,346,075,000

13 Dec, 2013

42,346,137,500

20 Dec, 2013

52,346,225,000

25 Dec, 2013

30,000,087,500

20 Mar, 2014

67,500,087,500

5 Nov, 2014

20,000,000,000

 

 

FINANCIAL STATEMENT – DETAILED

Balance Sheet

Currency

:

JPY

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Total Liabilities(*)

1,335,823,000,000

1,451,135,000,000

1,127,289,000,000

Assets 

Current Assets(*)

887,298,000,000

896,274,000,000

955,019,000,000

Total Assets(*)

1,385,242,000,000

1,405,678,000,000

1,261,519,000,000

Non Current Assets(*)

497,944,000,000

509,404,000,000

306,500,000,000

Liabilities 

Non Current Liabilities(*)

401,389,000,000

278,089,000,000

242,019,000,000

Current Liabilities(*)

934,434,000,000

1,173,046,000,000

885,270,000,000

Shareholders Funds(*)

49,419,000,000

(45,457,000,000)

134,230,000,000

 

Fixed Assets

497,944,000,000

509,404,000,000

306,500,000,000

Current Assets

887,298,000,000

896,274,000,000

955,019,000,000

Total assets

1,385,242,000,000

1,405,678,000,000

1,261,519,000,000

Current Liabilities

934,434,000,000

1,173,046,000,000

885,270,000,000

Fixed Liabilities

401,389,000,000

278,089,000,000

242,019,000,000

Paid in Capital

20,000,000,000

30,000,000,000

20,000,000,000

Capital Reserves

185,168,000,000

115,807,000,000

110,807,000,000

Retained Earnings(Loss)

(155,782,000,000)

(191,343,000,000)

3,317,000,000

Valuation & Adjustment

33,000,000

79,000,000

106,000,000

Total Shareholders' Equity

49,419,000,000

(45,457,000,000)

134,230,000,000

Total Liabilities and Net Assets

1,385,242,000,000

1,405,678,000,000

1,261,519,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

JPY

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Turnover(*)

288,121,000,000

295,684,000,000

474,765,000,000

Profit (Loss) Before Tax(*)

(45,303,000,000)

(133,589,000,000)

103,557,000,000

Profit After Tax attributable to Shareholders(*)

(44,622,000,000)

(132,923,000,000)

104,661,000,000

 

Net Sales/Revenue

288,121,000,000

295,684,000,000

474,765,000,000

Cost of Goods Sold

218,127,000,000

211,413,000,000

359,749,000,000

Gross Profit

69,993,000,000

84,270,000,000

115,016,000,000

Selling, General & Administrative Expenses

50,540,000,000

47,163,000,000

28,470,000,000

Operating Profit(Loss)

19,453,000,000

37,016,000,000

86,545,000,000

Non Operating Income

2,841,000,000

8,464,000,000

9,308,000,000

Non Operating Expenses

10,372,000,000

10,308,000,000

9,473,000,000

Ordinary Profit(Loss)

11,922,000,000

35,262,000,000

86,381,000,000

Special Profit

1,346,000,000

275,000,000

19,317,000,000

Special Loss

58,571,000,000

169,128,000,000

2,141,000,000

Pretax Profit(Loss)

(45,303,000,000)

(133,589,000,000)

103,557,000,000

Provisions for Taxes

(681,000,000)

(666,000,000)

(1,103,000,000)

Net Profit(Loss)

(44,622,000,000)

(132,923,000,000)

104,661,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Growth % 

Year-on-Year Growth

(9.39)

2.62

60.56

Profitability 

Profit Margin (%)

(15.49)

(44.95)

22.04

Return on Equity (%)

(90.29)

292.41

77.97

Return on Assets (%)

(3.22)

(9.46)

8.30

Leverage 

Total Debt Equity (Times)

27.03

(31.92)

8.40

Current Debt Equity (Times)

18.91

(25.81)

6.60

Long Term Debt to Equity

8.12

(6.12)

1.80

Total Asset To Total Equity

28.03

(30.92)

9.40

Asset Management 

Total Assets Turnover (Times)

0.21

0.21

0.38

Fixed Assets Turnover (Times)

0.58

0.58

1.55

Liquidity 

Current Ratio

0.95

0.76

1.08

 

 

REPUTATION

 

Reference checking for the purpose of establishing GE JAPAN CORP's reputation within the respective industry failed to reveal any adverse information.

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

DISHONORED CHECKS

 

No Record Found

 

Description: http://www.asiancredit.com/Manage/Image/space.gif

 

DEBT

 

No Record Found

 

Description: http://www.asiancredit.com/Manage/Image/space.gif

 

CIVIL LITIGATION

 

No Record Found

 

Description: http://www.asiancredit.com/Manage/Image/space.gif

 

PERFORMANCE DEFAULTS

 

No Record Found

 

Description: http://www.asiancredit.com/Manage/Image/space.gif

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

No Record Found

 

BANK DETAILS

 

Bank Name

:

SUMITOMO MITSUI BANKING CORP

Global Identifier

:

P0173197

Branch

:

Chiyoda-ku,Tokyo

Branch Address

:

SUMITOMO MITSUI BANKING CORP, AKASAKA

SWIFT Code

:

SMBCJPJT

 

 

LOCAL BRANCHES & MANAGEMENT

 

Branch

:

GE JAPAN CORP - FUKUSHIMA-KU, OSAKA-SHI

Branch Address

:

7-15-26 Fukushima, Fukushima-ku, Osaka-shi, Osaka 5530003

 

Branch

:

GE JAPAN CORP - FUKUSHIMA-KU, OSAKA-SHI

Branch Address

:

7-20-1 Fukushima, Fukushima-ku, Osaka-shi, Osaka 5530003

 

Branch

:

GE JAPAN CORP - AOBA-KU, SENDAI-SHI

Branch Address

:

2-1-1 Ichiban-cho, Aoba-ku, Sendai-shi, Miyagi 9800811

 

 

SHAREHOLDERS

 

Total number of shareholders

:

1

Total number of shares

:

1,458,039

 

Currency

:

JPY - Japanese Yen

 

No.

Shareholders

Country

Shares

Number

Amount (JPY)

%

1

GENERAL ELECTRIC CO

USA

1,458,039

20,000,000,000

100.00

Total

1,458,039

20,000,000,000

100.00

 

Today's Exchange rate

:

1.00 JPY
Japanese Yen

=

0.008293 USD
United States Dollars

 

Based on corporate statutory laws / regulations in Japan, there is no requirement for public disclosure of Shareholders. In this case, the Shareholders information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03932605

Name

:

Mr. Masami Katayama

 

2

 

 

Personal Unique Identifier

:

MI03932615

Name

:

Mr. Seiji Yasubuchi

 

3

 

 

Personal Unique Identifier

:

MI03932612

Name

:

Ms. Akihiko Kumagai

 

 

DOMESTIC SUPPLIERS

Business Entity Name

Global Identifier

JOB CARS CO LTD

P3342159

NET SYSTEM CO LTD

P3342161

 

 

DOMESTIC CUSTOMERS

Business Entity Name

Global Identifier

ACE SOGO LEASE CO LTD

P0398229

GE CAPITAL SERVICER CO LTD

P3342166

GE ENERGY JAPAN LTD

P1876036

GE HEALTHCARE JAPAN CORP

P1876037

 

 

OFFICE & FACILITIES

The following information relates to the Business Entity's office as listed above:

Name

:

GE JAPAN CORP - MINATO-KU, TOKYO

Primary Use

:

Office & Administration facilities

Address

:

15Fl Akasaka Park Bldg 5-2-20 Akasaka, Minato-ku, Tokyo 1076115

Country

:

Japan

Status

:

Operational

 

 

MERGER

 

Merger ( 1 )

 

Date of Merger

:

Jan, 2009

Circumstances Involved

:

Amicable merger

Parties Involved

Business Entity Name

Country

GE REAL ESTATE CO LTD

Japan

GSH CO LTD

Korea, South (Republic of Korea)

GE MONEY JAPAN CO LTD

Japan

GE FINANCIAL SERVICE CO LTD

Japan

 

Merger ( 2 )

 

Date of Merger

:

Jan, 2010

Circumstances Involved

:

Amicable merger

Parties Involved

Business Entity Name

Country

PK AIR FINANCE CO LTD

USA

 

 

PREVIOUS CONTACT DETAILS

 

Company Address

:

1-12-32 Akasaka, Minato-ku, Tokyo 1070052

Date of Relocation

:

9 Oct, 2009

 

Company Address

:

1-2-27 Shiromi, Chuo-ku, Osaka-shi, Osaka 5406037

 

Company Address

:

Eme Nagoya Bldg 4-24-8 Meieki, Nakamura-ku, Nagoya-shi, Aichi 4500002

 

Company Address

:

4-5 Kioicho, Chiyoda-ku, Tokyo 1020094

 

Company Address

:

1-14-45 Daimyo, Chuo-ku, Fukuoka-shi, Fukuoka 8100041

 

Company Address

:

4-11-20 Minamisenba, Chuo-ku, Osaka-shi, Osaka 5420081

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.67.04

UK Pound

1

Rs.101.67

Euro

1

Rs.73.93

YEN

1

Rs.0.55

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

HEE

 

 

Report Prepared by :

TRU

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.