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Report No. : |
311938 |
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Report Date : |
21.03.2015 |
IDENTIFICATION DETAILS
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Name : |
FUJITA CORPORATION |
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Registered Office : |
4-25-2 Sendagaya Shibuya Tokyo 151-0051 |
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Country : |
Japan |
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Date of Incorporation : |
October 2002 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Construction service |
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No. of Employees : |
1,752 |
RATING & COMMENTS
|
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 2,128.7 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 – 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. 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 |
FUJITA CORPORATION
REGD NAME: KK
Fujita
MAIN OFFICE: 4-25-2
Sendagaya Shibuya Tokyo 151-0051 JAPAN
Tel: 03-3402-1911
Fax: 03-3404-8477
URL: http://www.fujita.co.jp
E-Mail
address: info@fujita.co.jp
ACTIVITIES: Construction service, urban development,
other
BRANCHES: Sendai, Chiba, Saitama, Yokohama, others
(Tot 10)
OVERSEAS: Shanghai, Hong Kong, Seoul, Vietnam,
Mexico, others (Tot 13)
FACTORIES: None
CHIEF EXEC: TAKUJI UEDA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 264,522 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 14,000 M
TREND UP WORTH Yen 21,967 M
STARTED 1910
EMPLOYES 1,752
THE FIRM SPECIALIZING IN
CNCONSTRUCTION, URBAN DEVELOPMENT.
FINANCIAL SITUATION COSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 2,128.7 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Ichiro Fujita and
Teiichi Fujita in Hiroshimain in order to make most of his experience in the
subject line of business. It had being
listed in Tokyo Stock Market since 1961 but was acquired by Daiwa House in
2013. It has been Daiwa’s 100 subsidiary
since then.
The sales volume for Mar/2014
fiscal term amounted to Yen 264,522 million, a 9% up from Yen 242,701 million
in the previous term. The recurring
profit was posted at Yen 4,000 million and the net profit at Yen 2,501 million,
respectively, compared with Yen -1,384 million recurring profit and Yen -2,965
million net profit, respectively, a year ago.
For the current term ending Mar/
2015 the recurring profit is projected at Yen 4,120 million and the net profit
at Yen 2,576 million, respectively, on a 3% rise in turnover, to Yen 272,458
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 2,128 .7million, on 30 days normal terms.
Date Registered: Oct
2002
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: Unavailable
Issued:
18 million shares
Sum: Yen 14,000 million
Major shareholders (%): Daiwa house industry co ltd
(100 %)
No. of shareholders: 1
Listed on the S/Exchange (s) of: None
Managements: TAKUSHI UEDA, PRES; Yoji Okumura, vp;
Hiromasa Nakai, sr/mgn dir
Tatsuo Tsuchiya, sr/mgn dir;
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Construction Service: In order to turn its clients’ business vision into something concrete, Fujita acts as a total planner, structuring and proposing the effective utilization of their clients’ real estate, tenant recruitment, business funding plan
Land Utilization: While the environments surrounding business management are drastically changing, the importance of real estate is growing among enterprise resources. Fujita Corporation provides the best solution for the effective utilization of real property based upon its rich know-how from perspective of enhancing and stabilizing corporate value.
Life Cycle Management: Fujita Corporation provides aftercare service for its clients’ buildings and facilities. They provide services that meet clients’ needs during the life-cycle of their buildings. Fujita Corporation provides proposals for maintenance and improvement after the completion of construction and, as a result, we achieve reductions in business operational costs and create a positive environment.
Clients: [Mfrs, wholesalers] Mitsubishi Estate Residence, Ministry of Agriculture, Forestry and Fisheries, Hong Kong International Airport, Miyagi-Pref, SG Reality, other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Fujita Shoji Inc, Mitsui & Co. Steel Ltd, Kinden Corp, Fujita Road Construction Co Ltd, Taisei Onsho Co Ltd
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC (Head Office)
SUMITOMO MITSUI TRUST (Head Office)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
Annual Sales |
|
272,458 |
264,522 |
242,701 |
276,168 |
|
Recur. Profit |
|
4,120 |
4,000 |
-1,384 |
3,493 |
|
Net Profit |
|
2,576 |
2,501 |
-2,965 |
750 |
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Total Assets |
|
168,934 |
164,014 |
155,423 |
180,612 |
|
Net Worth |
|
24,543 |
21,967 |
24,086 |
27,778 |
|
Capital, Paid-Up |
|
16,567 |
16,567 |
16,567 |
16,567 |
|
Div.P.Share(¥) |
|
0.00 |
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.00 |
8.99 |
-12.12 |
#DIV/0! |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
13.39 |
15.50 |
15.38 |
|
N.Profit/Sales |
|
0.95 |
0.95 |
-1.22 |
0.27 |
* Notes: Financials are only
partially disclosed.
Forecast (or estimated) figures
for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.49 |
|
|
1 |
Rs.92.26 |
|
Euro |
1 |
Rs.66.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
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Report Prepared
by : |
ANK |
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 |
|
|
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.