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Report No. : |
321356 |
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Report Date : |
06.05.2015 |
IDENTIFICATION DETAILS
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Name : |
DAIW ASSET MANAGEMENT CO LTD |
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Registered Office : |
Grand Tokyo North Tower, 1-9-1 Marunouchi Chiyodaku Tokyo 100-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
December 1959 |
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Com. Reg. No.: |
0100-01-049257 |
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Legal Form : |
Limited Company |
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Line of Business : |
Asset management business |
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No of Employees : |
588 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
DAIW
ASSET MANAGEMENT CO LTD
Daiwa Shoken Toshi Shintaku Itaku KK
Grand Tokyo North Tower, 1-9-1 Marunouchi
Chiyodaku Tokyo 100-0005 JAPAN
Tel: 03-5695-2111
URL: http://www.daiwa-am.co.jp
E-Mail address: (thru the URL)
Asset management business
Nil
USA, UK, Hong Kong, Shanghai,
Singapore, India (--subsidiaries)
MAKOTO SHIRAKAWA, PRES Osamu Abiru, v pres
Toshinao Matsushima, v pres Yosuke Sakai, v pres
Ikuo Shoda, s/mgn dir Toshimasa Kuwano, s/mgn dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 85,560 M
PAYMENTSREGULAR CAPITAL Yen
15,174 M
TREND UP WORTH Yen 38,360 M
STARTED 1959 EMPLOYES 588
ASSET
MANAGEMENT COMPANY, OWNED BY DAIWA SECURITIES GROUP INC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The
subject company was established by Daiwa Securities Group Inc (See REGISTRATION) as its asset management
company. This is an asset management
company of assets under management of publicly offered investment assets. Total assets under management: Yen 1,223,400
million as at Mar 30, 2014.
The revenues for Mar/2014 fiscal
term amounted to Yen 85,560 million, a 16% up from Yen 74,025 million in the
previous term. The recurring profit was
posted at Yen 11,503 million and the net profit at Yen 10,126 million,
respectively, compared with Yen 12,394 million recurring profit and Yen 7,029
million net profit, respectively, a year ago.
For the term that ended Mar 2015 the
recurring profit was projected at Yen 17,500 million and the net profit at Yen
11,000 million, respectively, on a 6% rise in turnover, to Yen 90,500
million. Final results are yet to be
released.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered:
Dec 1959
Regd No.: 0100-01-049257
(Tokyo-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2,608,525
shares
Issued: 2,608,525
shares
Sum: Yen
15,174 million
Major
shareholders (%): Daiwa Securities Group Inc* (100)
*..
One of Big 3 securities firms, Tokyo, founded 1943, listed Tokyo, Nagoya S/E’s,
capital Yen 247,397 million, sales
Yen 642,829 million, operating profit Yen 284,593 million, recurring profit Yen 197,045 million, net profit
Yen 169,457 million, total assets Yen
23,583,808 million, net worth Yen 1,196,309 million, employees 13,570, pres
Takashi Hibino
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Asset management company,
with total assets (--100%)
Clients: Securities firms, banks,
Pension Funds, other
No.
of accounts: Unavailable
Domestic
areas of activities: Nationwide
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC
(H/O)
MUFG
(H/O)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
90,500 |
85,560 |
74,025 |
73,332 |
|
Recur. Profit |
|
17,500 |
16,503 |
12,394 |
12,333 |
|
Net Profit |
|
11,000 |
10,126 |
7,029 |
7,023 |
|
Total Assets |
|
|
57,727 |
50,834 |
51,157 |
|
Current Assets |
|
|
39,406 |
32,272 |
30,908 |
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Current Liabs |
|
|
15,534 |
11,855 |
12,789 |
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Net Worth |
|
|
38,360 |
35,231 |
34,847 |
|
Capital, Paid-Up |
|
|
15,174 |
15,174 |
15,174 |
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Div.P.Share(¥) |
|
|
3,882.00 |
2,694.00 |
2,692.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.77 |
15.58 |
0.95 |
0.94 |
|
Current Ratio |
|
.. |
253.68 |
272.22 |
241.68 |
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N.Worth Ratio |
|
.. |
66.45 |
69.31 |
68.12 |
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R.Profit/Sales |
|
19.34 |
19.29 |
16.74 |
16.82 |
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N.Profit/Sales |
|
12.15 |
11.83 |
9.50 |
9.58 |
|
Return On Equity |
|
.. |
26.40 |
19.95 |
20.15 |
Notes: Forecast (or estimated)
figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.51 |
|
|
1 |
Rs. 95.95 |
|
Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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 |
|
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 |
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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 |
-- |
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.