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Report No. : |
299617 |
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Report Date : |
13.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SKY PERFECT BROADCASTING CORPORATION |
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Registered Office : |
1-14-14, Aakasaka, Minato-ku, Tokyo 107-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
03.04.1996 |
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Com. Reg. No.: |
0104-01-072318 |
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Legal Form : |
Private |
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Line of Business : |
Providing Broadcasting Services. |
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No. of Employee : |
40 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Japan |
A1 |
A1 |
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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 |
SKY PERFECT BROADCASTING CORPORATION
========
Country: Japan
Company name: SKY PERFECT BROADCASTING
CORPORATION
Name in local language: SKAPER
BRODCASTING, K.K.
Office address: 1-14-14, Aakasaka, Minato-ku,
Tokyo 107-0052
Office tel: 03-5571-7000
Website: www.sptvbroadcast.com
Business type: Service
Industry: Broadcasting
services
Established: April 3, 1996
Capital: Jp.
2,500,000,000 yen
Employees: 40
Corporate formation: Private
Corporation No.: 0104-01-072318
(Tokyo Legal Affairs Bureau)
=====================
Paid in capital : Jp.
2,500,000,000 yen
Number of authorized shares : 80,000
shares
Shares issued : 50,000
shares
Number of shareholder : 1
SKY PERFECT JSAT Holdings Inc. holds 100 percent.
===========================================
Activity Product/Service
Description
-------------------------------------------------------------------------------
Service Broadcasting
services utilizing satellites
Service Program
services for CATV
Service
Broadcasting services utilizing H.264 transmission method
Service Operating the service of SKY Perfect
On-Demand Adult
Service Relay and producing of contents
======================
President Mr. Minoru Yonezawa
Nationality: Japan
Director Mr. Takafumi Hayajiri
Nationality: Japan
Director Mr. Katsunori Suzuki
Nationality: Japan
Director Mr. Hidenori Nunomura
Nationality: Japan
Nationality: Japan
Director Mr. Mamoru Takai
Nationality: Japan
Auditor Mr. Masaki Fukunaga
Nationality: Japan
Auditor Mr. Noriaki Sakamoto
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
==============
Mr. Minoru Yonezawa
President and representative director since June 2014
Born on July 31, 1958
Home address: 6-21-5, Kanai, Machida-shi, Tokyo 195-0072
===========
Currency: (local currency - Jp. yen)
-------------------------------------------------------------------------------------
Year | Sales |
Net Income
-------------------------------------------------------------------------------------
|
2009 |
12,037,400,000 |
81,458,000 |
|
2010 |
13,300,447,000 |
loss 242,575,000 |
|
2011 |
23,379,924,000 |
161,095,000 |
|
2012 |
33,372,119,000 |
269,611,000 |
|
2013 |
43,605,881,000 |
272,175,000 |
|
2014 |
58,647,000,000 |
642,000,000 |
=====================
*Book Closing*
============
March 31st
*Financials*
==========
|
Balance Sheet |
|||
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Unit: millions of JP yen |
|||
|
|
3/31/2012 |
3/31/2013 |
3/31/2014 |
|
Current assets |
5,304 |
6,037 |
8,352 |
|
Fixed assets |
67 |
59 |
58 |
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Total Assets |
5,372 |
6,097 |
8,411 |
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|
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Current liabilities |
3,964 |
4,404 |
6,059 |
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Fixed liabilities |
41 |
55 |
71 |
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Shareholders' equity |
1,366 |
1,638 |
2,280 |
|
Paid up capital |
2,500 |
2,500 |
2,500 |
|
Capital reserves |
238 |
238 |
238 |
|
Retained earnings |
-1,372 |
-1,100 |
-458 |
|
Total Net Assets |
1,366 |
1,638 |
2,280 |
|
Total Liabilities & Net
Assets |
5,372 |
6,097 |
8,411 |
|
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|
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Income Statement |
|||
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Unit : millions of JP yen |
|||
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|
3/31/2012 |
3/31/2013 |
3/31/2014 |
|
Sales |
33,372 |
43,605 |
58,647 |
|
Cost of goods sold |
32,507 |
42,633 |
56,976 |
|
Gross profit(loss) |
864 |
972 |
1,670 |
|
Sales/administrative expenses |
493 |
532 |
626 |
|
Operating profit(loss) |
370 |
439 |
1,044 |
|
Non operating income |
4 |
3 |
8 |
|
Non operating expenses |
- |
0 |
0 |
|
Ordinary profit(loss) |
375 |
443 |
1,052 |
|
Pretax profit |
375 |
443 |
1,052 |
|
Taxes & adjustment |
106 |
171 |
410 |
|
Net profit |
269 |
272 |
642 |
*Bank Details*
============
Bank Name : Bank of
Tokyo-Mitsubishi UFJ, Ltd.
Branch : Tokyo business
banking department
Bank Name : Sumitomo Mitsui
Banking Corp.
Branch : Tokyo business
banking department
*Credit Opinion*
=============
The latest status of the subject is a core subsidiary of SKY Perfect
JSAT Holdings Inc., established in April 2007, a public listed
corporation(#9412) on the TSE, of which major business is SC Broadcasting, “Sky
Perfect!” and operation of satellites.
The largest shareholder of the parent is Itochu-Fuji Partners Inc.,
founded by Itochu Corporation and Fuji Media Holdings, a member of Fuji-Sankei
Group.
As of September 30, 2014 the parent of the subject carries JPY 41,938
million of retained earnings.
As for the subject itself, a rapid growth has continued since 2011 term.
It is a matter of time for the subject to recover its retained losses.
Negative factors are not observed in particular at moment.
========================================
*Main Products & Services*
======================
Broadcasting services utilizing satellites
Providing of programs to CATV operators
Broadcasting services utilizing H. 264 transmission method
Operating Sky Perfect On-Demand Adult
Relay and producing of contents
======================
*Address*
=========
Registered address is the same as the operational address.
*Company History*
================
Date Development
-----------------------------------------------------------------------------------------------
April 3, 1996 Incorporated under the name of “Pay Per
View Japan Corporation.” at
the following address:
2-15-1, Shibuya, Shibuya-ku, Tokyo
September 23, 2007 Relocated to the current address.
June 27, 2008 Took the current company name.
================
*Suppliers*
==========
Sky Perfect JSAT Corp.
J Sports Inc.
Fuji Television Corp.
WOWOW Inc.
Star Channel Corp.
*Customers*
==========
General public(viewers)
Sky Perfect JSAT Corp.
Jupiter Telecom Inc.
Japan Leisure Channels Inc.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
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|
1 |
Rs.94.28 |
|
Euro |
1 |
Rs.73.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
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 |
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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 |
-- |
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.