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Report No. : |
309933 |
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Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
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Name : |
BENESSE CORPORATION |
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Registered Office : |
1-34 Ochiai Tama City Tokyo-Metrop 206-0033 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
October 2009 |
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Com. Reg. No.: |
0124-01-628447 (Okayama-Kitaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Trading firm for wholesale and retails educational
systems, method, education books, magazines, education by correspondence
named “Shinkenzemi |
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No. of Employee : |
3,213 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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 – 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 |
BENESSE
CORPORATION
REGD NAME: KK Benesse Corporation
MAIN OFFICE: 1-34 Ochiai Tama City Tokyo-Metrop 206-0033
JAPAN
Tel:
042-356-8686
*.. The is its Tokyo Office
**..
Registered at: 3-7-17 Minamigata Kitaku Okayama City
E-Mail address: (thru
the URL)
ACTIVITIES: Retail, wholesale of educational system,
method, correspondence education
BRANCHES: Tokyo, Sapporo, other (Tot 13)
OFFICERS: HITOSHI KOBAYASHI, PRES Naoto Saito, dir
Kenji
Yamakawa, dir Hisano
Harada, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 239,410 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
3,000 M
TREND STEADY WORTH Yen 68,311 M
STARTED 2009 EMPLOYES 3,213
TRADING FIRM SPECIALIZING IN EDUCATIONAL SYSTEMS, ETC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1955 and
was incorporated in 2009, under Benesse Holdings Inc (See REGISTRATION). This is a
trading firm for wholesale and retail of educational systems, method,
correspondence education, publishing of educational literature, other. Clients include book stores, other,
nationwide
The sales volume for Mar/2014 fiscal term amounted to Yen
239,410 million, a 2% down from Yen 244,709 million in the previous term. The number of new enrollments for
correspondence education fell, amid the backlash of customer data leak
accident. The recurring profit was
posted at Yen 22,410 million and the net profit at Yen 12,231 million,
respectively, compared with Yen 27,265 million recurring profit and Yen 16,164
million net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is
projected at Yen 22,600 million and the net profit at Yen 12,400 million,
respectively, on a 2% rise in turnover, to Yen 244,000 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date
Registered: Oct 2009
Regd
No.: 0124-01-628447 (Okayama-Kitaku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
240,000 shares
Issued:
60,000 shares
Sum: Yen 3,000 million
Major
shareholders (%): Benesse Holdings Inc* (100)
*..Largest
provider of education by correspondence, Okayama, listed Tokyo E/E, capital Yen 13,600 million, sales Yen
466,399 million, operating profit Yen 35,830 million, recurring profit Yen 35,216 million, net profit Yen 19,930
million, total assets Yen475,599 million,
net worth Yen 190,401 million, employees 20,005, pres Eiko Harada
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Trading firm for wholesale and retails educational systems, method, education
books, magazines, education by correspondence named “Shinkenzemi”, other
(--100%)
Clients:
[Students, individuals, mfrs, wholesalers] Tohan Co, Nippan Inc, Dentsu Corp,
Osakaya, Kurita Publisher, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Dai Nippon Printing, Isetan Corp, Benesse Hong Kong, With
Corporation, Post Office, other
Payment
record: No
complaints
Location:
Business area in Tama City, Tokyo-Metrop.
Office premises at the caption address are owned and maintained
satisfactory.
Bank
References:
Chugoku Bank (Tomitacho)
SMBC (Okayama)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
244,000 |
239,410 |
244,709 |
240,151 |
|
Recur. Profit |
|
22,600 |
22,414 |
27,265 |
24,043 |
|
Net Profit |
|
12,400 |
12,231 |
16,164 |
12,507 |
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Total Assets |
|
|
185,940 |
177,731 |
173,523 |
|
Current Assets |
|
|
104,644 |
100,340 |
97,594 |
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Current Liabs |
|
|
115,501 |
114,444 |
111,476 |
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Net Worth |
|
|
68,311 |
61,069 |
59,902 |
|
Capital, Paid-Up |
|
|
3,000 |
3,000 |
3,000 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
1.92 |
-2.17 |
1.90 |
-1.07 |
|
Current Ratio |
|
.. |
90.60 |
87.68 |
87.55 |
|
N.Worth Ratio |
|
.. |
36.74 |
34.36 |
34.52 |
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R.Profit/Sales |
|
9.26 |
9.36 |
11.14 |
10.01 |
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N.Profit/Sales |
|
5.08 |
5.11 |
6.61 |
5.21 |
|
Return On Equity |
|
.. |
17.90 |
26.47 |
20.88 |
Notes: Forecast (or estimated) figures for the 31/03/2015
fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.05 |
|
|
1 |
Rs.96.03 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
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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 |
|
<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.