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Report No. : |
309035 |
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Report Date : |
20.02.2015 |
IDENTIFICATION DETAILS
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Name : |
TRAVEL VOICE & NET INC |
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Registered Office : |
Nihon Sogo Jisho Otsuka Bldg 1F, 1-13-17 Kita-Otsuka Toshimaku Tokyo 170-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
Feb., 2004 |
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Com. Reg. No.: |
0133-01-020535 (Tokyo-Toshimaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Retail, Rental of Mobile Phones for Overseas Travelers. |
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No. of Employees : |
11 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
YEN 3.6 MILLION |
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Status : |
Moderate |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source
: CIA |
TRAVEL VOICE & NET INC
REGD NAME: KK
Travel Voice & Net
MAIN OFFICE: Nihon
Sogo Jisho Otsuka Bldg 1F, 1-13-17 Kita-Otsuka Toshimaku Tokyo
170-0004 JAPAN
Tel: 03-5992-3591 Fax: 03-5992-3548
E-Mail address: (thru
the URL)
Retail,
rental of mobile phones for overseas travelers
Nil
USA,
UK, other (business partners
KAZUO
NAKAMURA, PRES
Harumi
Horikoshi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen
206 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 60 M
TREND SLOW WORTH Yen 63 M
STARTED 2004 EMPLOYES 11
INTERNATIONAL TELEPHONE
SERVICES.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: ESTIMATED AT YEN 3.6 MILLION, ON 30 DAYS NORMAL TERMS.
The
subject company was established by Kazuo Nakamura in order to make most of his
experience in the subject line of business.
This is a mobile phone retail & rental company for travelers
overseas, other. Clients include travel agency, universities, other
Financials are disclosed only partially.
The
sales volume for Dec/2013 fiscal term amounted to Yen 206 million, a 2% down from
Yen 211 million in the previous term.
The net profit was posted at Yen 1 million, compared with Yen 4 million
a year ago.
For
the term that ended Dec 2014 the net profit was projected at Yen 3 million, on
a 3% rise in turnover, to Yen 212 million.
Final results are yet to be released.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements. Max credit limit is estimated at Yen 3.6 million, on 30
days normal terms.
Date Registered: Feb 2004
Regd No.: 0133-01-020535
(Tokyo-Toshimaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4,800 shares
Issued:
1,200 shares
Sum: Yen 60
million
Major shareholders (%): Kazuo
Nakamura (35), Global Fon Inc (20), JTB (15)
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
Activities:
Wholesale, retail, rental of mobile phones for travelers abroad, international communications
service, others (--100%)
Clients:
[Mfrs, wholesalers] Recruit Agent (45%), JTB (15%), travel agents (10%),
customers (10%), universities, other
No. of accounts: 100
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Global Phone, T-Mobile USA, AT&T Wireless, SoftBank
Telecom, KDDI, Bell Canada, Vendafone, Tour Fone (USA), other
Payment record: Slow but correct
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactory.
Bank References:
Mizuho
Bank (Ginza)
SMBC
(Sugamo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
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Annual
Sales |
|
212 |
206 |
211 |
214 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
3 |
1 |
4 |
1 |
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Total
Assets |
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|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
63 |
62 |
58 |
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Capital,
Paid-Up |
|
|
60 |
60 |
60 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.91 |
-2.37 |
-1.40 |
-7.76 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
1.42 |
0.49 |
1.90 |
0.47 |
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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 |
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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 |
|
|
-- |
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.