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Report No. : |
321714 |
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Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
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Name : |
JAPAN EXCELLENT INC |
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Registered Office : |
1-15-9 Minami-Aoyama Minatoku Tokyo 107-0062 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
February 2006 |
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Legal Form : |
Investment Company |
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Line of Business : |
Investment management business, on real estate, other (--100%) |
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No. of Employees : |
4 |
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 Limit : |
Yen 263.2 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 – 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 |
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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. 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 |
JAPAN EXCELLENT INC
REGD NAME: Japan
Excellent Toshi Hojin (Investment Corp)
MAIN OFFICE: 1-15-9
Minami-Aoyama Minatoku Tokyo 107-0062 JAPAN
Tel: 03-5412-7911
URL: http://www.excellent-reit.co.jp
E-Mail
address: (thru the URL)
Investment
management business
Nil
HIDEHIKO
OGAWA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 9,695 M
PAYMENTS NO COMPLAINTS CAPITAL YEN
127,950 M*
TREND UP WORTH
Yen 131,028 M
STARTED 2006 EMPLOYES 4
*.. Invested amount
NVESTMENT MANGEMENT BUSINESS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT
YEN 263.2 MILLION, ON 30 DAYS NORMAL TERMS.
This is an investment management business company, mainly
for real estate. Clients include
Agricultural Coops, information system management, other
The sales volume for Dec/2014 fiscal term amounted to Yen
9,695 million, a 1% up from
Yen 9,558 million in the previous Jun/2014 fiscalterm. The recurring profit was posted at Yen 3,041
million and the net profit at Yen 3,040 million, respectively, compared with
Yen 3,011 million recurring profit and Yen 3,010 million net profit, respectively,
a year ago.
For the current term ending Jun 2015 the recurring profit is
projected at Yen 2,972 million and the net profit at Yen 2,971 million,
respectively, on a 1% fall in turnover, to Yen 9,575 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 263.2 million, on 30 days normal terms.
Date
Registered: Feb 2006
Legal
Status: Investment Company (Toshi Hojin)
Investment:
Yen 127,950 million
Major
shareholders (%): Japan Trustee Service Bank T (26.6), Master Trust of
Japan T (7.3), other
No. of shareholders:
7,917
Nothing detrimental is known as to
the commercial morality of executives.
Activities: Investment management business, on
real estate, other (--100%)
Clients: [Mfrs, wholesalers] Zen-Noh Assn
(nationwide), Toshiba Information System, Scupper JSAT Holdings, Roche
Diagnostics, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Japan Excellent
Asset Management, Dai-ichi Life Ins, Sekisui House Ind, Dai-ichi Building,
other
Payment record: No
Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactory.
Bank References:
SMBC (H/O)
Resona Bank (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2015 |
31/12/2014 |
30/06/2014 |
31/12/2013 |
|
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Annual
Sales |
|
9,575 |
9,695 |
9,558 |
8,850 |
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Recur.
Profit |
|
2,972 |
3,041 |
3,011 |
2,775 |
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Net
Profit |
|
2,972 |
3,040 |
3,010 |
2,774 |
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Total
Assets |
|
|
278,037 |
277,842 |
257,901 |
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Current
Assets |
|
|
21,212 |
19,916 |
18,905 |
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Current
Liabs |
|
|
22,401 |
27,068 |
29,236 |
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Net
Worth |
|
|
131,028 |
130,998 |
120,713 |
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Capital,
Paid-Up |
|
|
127,950 |
127,950 |
117,901 |
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Div.Ttl
in Million (¥) |
|
|
2,385 |
1,958 |
1,958 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
-1.24 |
1.43 |
8.00 |
-6.04 |
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Current Ratio |
|
.. |
94.69 |
73.58 |
64.66 |
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N.Worth Ratio |
|
.. |
47.13 |
47.15 |
46.81 |
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R.Profit/Sales |
|
31.04 |
31.37 |
31.50 |
31.36 |
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N.Profit/Sales |
|
31.04 |
31.36 |
31.49 |
31.34 |
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Return On Equity |
|
.. |
2.32 |
2.30 |
2.30 |
Notes:
Forecast (or estimated) figures for the 30/06/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
VNT |
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.