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Report No. : |
355808 |
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Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
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Name : |
THE JAPAN FOUNDATION |
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Registered Office : |
Fuji Bldg 2F, 2-7-26 Kita-Aoyama Minatoku Tokyo 107-0061 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
Oct., 2003 |
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Com. Reg. No.: |
0111-05-003801
(Tokyo-Minatoku) |
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Legal Form : |
Japanese Government Independent Agency (Dokuritsu Hojin) |
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Line of Business : |
Government body to
promote international cultural exchange programs throughout the world, other |
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No. of Employees : |
219 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 – 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 |
THE
JAPAN FOUNDATION
REGD
NAME: Dokuritsu Hojin Kokusai Koryu Kikin
MAIN
OFFICE: Fuji Bldg 2F, 2-7-26 Kita-Aoyama
Minatoku Tokyo 107-0061 JAPAN
Tel: 03-6890-0595 Fax: 03-6735-8990
URL: http://www.jpf.go.jp
E-Mail
address: jf-toiawase@jpg.go.jp
Government body to promote international cultural exchange programs
throughout the world, other
Osaka, Kyoto, Saitama (--international
centers)
22 locations in 22 countries overseas
HIROYASU ANDO, PRES
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 19,151 M
PAYMENTSREGULAR CAPITAL Yen
77,803 M
TREND STEADY WORTH
Yen 111,500 M
STARTED 2003 EMPLOYES 219
GOVERNMENT BODY TO
PROMOTE INTERNATIONAL CULTURAL EXCHANGE PROGRAMS THROUGHOUT THE WORLD.
FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR PROPER BUSINESS ENGAGEMENTS.
This is a Government body to promote
international cultural exchange programs throughout the world (See OPERATION). The Foundation was
established based on a government endowment of Yen.78 billion, and are financed
by Government subsidies, investment revenues, and donation from private
sectors. Operates 22 offices in 21 overseas countries. Clients include Japanese
Government, corporates, individuals, other
Financials are disclosed only partially.
The sales volume for Mar/2015 fiscal term
amounted to Yen 19,151 million, an 11% up from Yen 17,238 million in the
previous term. The net profit was posted
at Yen 1,460 million, compared with Yen 762 million a year ago.
For the current term ending Mar 2016 the net
profit is projected at Yen 1,500 million, on a 10% rise in turnover, to Yen
21,100 million. Activities continue
expanding worldwide.
The financial situation is considered FAIR
and good for PROPER business engagements.
Max credit limit is estimated at Yen 615.5 million, on 30 days normal
terms.
Date
Registered: Oct 2003
Regd
No.: 0111-05-003801
(Tokyo-Minatoku)
Legal
Status: Japanese Government
Independent Agency (Dokuritsu Hojin)
Investment Sum: Yen 77,803 million
Major shareholders (%): Japanese Government (100)
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Japanese Government sponsored international agency to promote
international cultural exchange programs throughout the world: arts &
cultural exchange, Japanese language education, Japanese studies &
intellectual exchange, other (--100%)
Clients: [Mfrs, wholesalers] Japanese Government, private corporations,
individuals, other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactory.
Bank References:
Bank of Japan (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms
Ending: |
|
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
Annual Sales |
|
21,100
|
19,151
|
17,238
|
17,282
|
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
1,500 |
1,460 |
762 |
918 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
111,500
|
110,478
|
109,945
|
|
Capital, Paid-Up |
|
|
77,803
|
77,803
|
77,803
|
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
10.18 |
11.10 |
-0.25 |
-0.69 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
7.11 |
7.62 |
4.42 |
5.31 |
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the
31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.65 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
|
YEN |
1 |
Rs.0.54 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
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|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
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.