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Report No. : |
327953 |
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Report Date : |
17.06.2015 |
IDENTIFICATION DETAILS
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Name : |
MEGAHOUSE CORPORATION |
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Registered Office : |
Bandai 2nd Bldg, 2-5-4 Komagata Taitoku Tokyo 111-0043 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
March 1962 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures Toys, Other (--100%) |
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No. of Employees : |
94 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 364.1 Million |
|
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 |
|
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 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. Since the
complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami
disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused
the economy to contract during the 2nd and 3rd quarters of 2014. The economy
has largely recovered in the three years since the disaster, but reconstruction
in the Tohoku region has been uneven due to labor shortages. 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 2014 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 government will continue a
longstanding debate on restructuring the economy and reining in Japan's huge
government debt, which amounts to more than 240% 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 2015, although the government
in 2014 decided to postpone the final phase of the increase until 2017 to give
the economy time to recover from the 2014 increase. 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 |
MEGAHOUSE
CORPORATION
REGD NAME: KK Mega House
MAIN OFFICE: Bandai 2nd Bldg, 2-5-4 Komagata
Taitoku Tokyo 111-0043 JAPAN
Tel:
03-3847-1721 Fax: 03-3847-7834
URL: http://www.megahouse.co.jp
E-Mail address: (thru the URL)
ACTIVITIES: Mfg of toys
BRANCHES: Nil
OVERSEAS: Hong Kong, China (--business partners)
FACTORIES: (subcontracted)
OFFICERS: IWAO OKUYAMA, PRES
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 8,726 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 10 M
TREND SLOW WORTH Yen 3,138 M
STARTED 1962 EMPLOYES 94
COMMENT: MFR OF TOYS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 364.1 MILLION, 30 DAYS NORMAL TERMS
The subject company is a specialized maker of toys, affiliated with Bandai Co Ltd. Mfr materials are imported from China, Hong Kong, other. Goods are mostly supplied to Bandai Co Ltd.
The sales volume for Mar/2014 fiscal term amounted to Yen 8,726 million,
a 6% down from Yen 9,302 million in the previous term. The net profit was posted at Yen 307
million, compared with Yen 601 million a
year ago.
For the term that ended Mar 2015 the net profit was projected at Yen 320
million, on a 5% rise in turnover, to Yen 9,160 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 364.1 million, on 30 days normal terms.
Date Registered: Mar
1962
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 80,000 shares
Issued:
20,000 shares
Sum: Yen
10 million
Major shareholders
(%): Bandai Co Ltd* (100)
*.. Toy maker at the caption address, founded 1950, capital Yen 10,000 million, sales Yen 178,536 million, net profit Yen 11,806 million, total assets Yen 102,507 million, net worth Yen 61,574 million, employees 1,157, pres Kazunori Ueno
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures
toys, other (--100%)
Clients: [Mfrs,
wholesalers] Bandai Co, Happinet Corp, Kawada Corp, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from China, Hong Kong, other.
Domestically: Kikuchi, Tanaka Paper Ind, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Asakusa)
SMBC (Asakusa)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
9,160 |
8,726 |
9,302 |
10,305 |
|
Recur. Profit |
|
|
|
1,042 |
1,869 |
|
Net Profit |
|
320 |
307 |
601 |
1,012 |
|
Total Assets |
|
|
4,605 |
4,915 |
5,377 |
|
Current Assets |
|
|
4,134 |
4,509 |
4,968 |
|
Current Liabs |
|
|
1,367 |
1,555 |
2,008 |
|
Net Worth |
|
|
3,138 |
3,264 |
3,283 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.Ttl in Million (¥) |
|
|
390 |
650 |
670 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.97 |
-6.19 |
-9.73 |
4.36 |
|
Current Ratio |
|
.. |
302.41 |
289.97 |
247.41 |
|
N.Worth Ratio |
|
.. |
68.14 |
66.41 |
61.06 |
|
R.Profit/Sales |
|
.. |
.. |
11.20 |
18.14 |
|
N.Profit/Sales |
|
3.49 |
3.52 |
6.46 |
9.82 |
|
Return On Equity |
|
.. |
9.78 |
18.41 |
30.83 |
Notes: Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.15 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.72.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>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.