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Report No. : |
306054 |
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Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
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Name : |
MORI TRUST CO LTD |
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Registered Office : |
Toranomon 2-Chome Tower, 2-3-17 Toranomon Minatoku Tokyo105-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
June, 1970 |
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Com. Reg. No.: |
0104-01-029670 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Real Estate Development, Investment & Management of Hotels &
Resorts. |
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No. of Employees : |
234 |
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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Maximum Credit Limits : |
YEN 1,564.2 MILLION |
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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 – 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 |
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Insignificant |
A1 |
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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 |
MORI
TRUST CO LTD
REGD
NAME: Mori Trust KK
MAIN OFFICE: Toranomon 2-chome Tower, 2-3-17
Toranomon Minatoku Tokyo105-0001
JAPAN
Tel:
03-5511-2255 Fax: 03-5511-2259
*The
given company/address is its rental-conference office
URL: https://www.mori-trust.co.jp/
E-mail: office-tokyo@mori-trust.co.jp
Real estate
development, investment & management of hotels & resorts,
Kyobashi, Sendai, Osaka, other (tot 121
managed/rental facilities)
AKIRA MORI, PRES Hiroshi Shimamoto, v pres
Takeshi Yoshida, v pres Munehiko Ohno, v pres
Ken’ichi Uchimura, s/mgn dir Kazuhiko Oiwa, s/mgn dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 90,051 M
PAYMENTSNO COMPLAINTS CAPITAL Yen
10,000 M
TREND UP WORTH Yen
235,151 M
STARTED 1970 EMPLOYES 234
REAL ESTATE COMPANY SPECIALIZING IN DEVELOPMENT, INVESTMENT, MANAGEMENT
OF HOTELS, RESIDENCES, OFFICE-BUILDINGS, OTHER. FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 1,564.2
MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established in 1970
on the basis of division separated from Mori Trust Holdings Inc (See REGISTRATION). This is a large real estate company
specializing in development, investment, management of hotels & resorts,
office-buildings, residences, other. Major buildings are Marunouchi Trust City, Akasaka Twin Tower, Mampei Hotel, Conrad
Tokyo, other. The total number of Group
facilities are: rental buildings 95, and facilities 31. Clients include major business firms, mfrs,
other, nationwide.
The sales volume for Mar/2014 fiscal term
amounted to Yen 90,051 million, a 47% up from Yen 61,408 million in the
previous term. This is attributed to the
increased number of investment & management of buildings &
facilities. The recurring profit was
posted at Yen 31,106 million and the net profit at Yen 11,963 million,
respectively, compared with Yen 22,841 million recurring profit and Yen 16,143
million net profit, respectively, a year ago.
For the current term ending Mar 2015 the
recurring profit is projected at Yen 34,000 million and the net profit at Yen
13,500 million, respectively, on a 10% rise in turnover, to Yen 99,500
million. New openings of
hotels/facilities are slated in Kyoto, and two in Tokyo.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 1,564.2 million, on 30 days normal
terms.
Date
Registered: June 1970
Regd
No.: 0104-01-029670
(Tokyo-Minatoku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 34.8
million shares
Issued: 8.7
million shares
Sum:
Yen 10,000 million
Major shareholders (%): Mori Trust Holdings Inc* (100)
*.. Holding Company of the Mori Group firms, at the caption address,
founded 1951, capital Yen 51 million, sales Yen 12,285 million, operating
profit Yen 12,157 million, recurring profit Yen12,176 million, net profit Yen
11,321 million, total assets Yen 158,434 million, pres Akira Mori, concurrently
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Real estate development, investment &
management of hotels & resorts: Rental (42%), sale of real estate/building
(37%), hotels (13%), others (8%)
Clients: [Mfrs, wholesalers, tenants] SoftBank Corp, Suntory
Holdings, Shangri-La Hotels Japan, AIG Group, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Taisei Corporation, Takenaka Corporation, Toda
Corporation, Shimizu Corp, Obayashi Corp, other.
Payment
record: No Complaints
Location: Business area in Tokyo. Office
premises at the caption address are leased and maintained satisfactory.
Bank
References:
SMBC
(H/O)
MUFG
(H/O)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual Sales |
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99,500
|
90,051
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61,408
|
60,680
|
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Recur. Profit |
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34,000
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31,106
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22,841
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15,086
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Net Profit |
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13,500
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11,963
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16,143
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17,119
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Total Assets |
|
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872,570
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827,199
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843,868
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Current Assets |
|
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292,769
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231,470
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Current Liabs |
|
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180,935
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195,072
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Net Worth |
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235,151
|
233,547
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224,838
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Capital, Paid-Up |
|
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10,000
|
10,000
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10,000
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Div.P.Share(¥) |
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1,150.00
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1,150.00
|
1,150.00
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<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
10.49 |
46.64 |
1.20 |
-6.41 |
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Current Ratio |
|
.. |
161.81
|
118.66
|
.. |
|
N.Worth Ratio |
|
.. |
26.95 |
28.23 |
26.64 |
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R.Profit/Sales |
|
34.17 |
34.54 |
37.20 |
24.86 |
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N.Profit/Sales |
|
13.57 |
13.28 |
26.29 |
28.21 |
|
Return On Equity |
|
.. |
5.09 |
6.91 |
7.61 |
Forecast (or estimated) figures for the
31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.76 |
|
|
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.