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Report No. : |
321715 |
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Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
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Name : |
JAPAN RENTAL HOUSING INVESTMENTS INC |
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Registered Office : |
Keihanshin Fudosan Onarimon Bldg 9F, 6-16-12 Shimbashi Minatoku Tokyo 105-0044 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
October 2005 |
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Legal Form : |
Investment Corporation |
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Line of Business : |
Investment management business on housing, construction, other
(--100%) |
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No. of Employees : |
01 |
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 199.7 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. 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 |
JAPAN
RENTAL HOUSING INVESTMENTS INC
Nippon Chingashi
Jyutaku Tohi Hojin (Investment Corporation)
Keihanshin Fudosan
Onarimon Bldg 9F, 6-16-12 Shimbashi Minatoku Tokyo 105-0044 JAPAN
Tel:
03-5425-5600 Fax: 03-5425-5601
E-Mail address: (thru the URL)
ACTIVITIES: Investment
management business
BRANCHES: Nil
OFFICERS: KURODA
TOSHIYA, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 7,131 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 79,517 M*
TREND UP WORTH Yen 95,510 M
STARTED 2005 EMPLOYES 1
*.. Invested
amount
COMMENT: INVESTMENT MANAGEMENT BUSINESS FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 199.7 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company is investment management company for housing,
construction, other. Business is under
supervision of Mikasa Asset Management Co, and services the firm as client,
too.
The sales volume for Sept/2014 fiscal term amounted to Yen 7,131
million, an 11 % up from Yen 6,442 million in the previous Mar/2014 fiscal
term. The recurring profit was posted at
Yen 2,597 million and the net profit at Yen 2,597 million, respectively,
compared with Yen 2,341 million recurring profit and Yen 2,341 million net
profit, respectively, in Mar/2014 fiscal term.
For the term that ended Mar 2015 the recurring profit was projected at
Yen 2,382 million and the net profit at Yen 2,382 million, respectively, on a
0.5% fall in turnover, to Yen 7,096 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 199.7 million, on 30 days normal terms.
Date Registered: Oct 9005
Legal Status: Investment
Corporation (Toshi Hojin)
Invested sum: Yen
79,517.1 million
Major Shareholders (%): Apple
Ringo Ventures One Limited (33.4), other
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Investment
management business on housing, construction, other (--100%)
Clients: [Mfrs,
wholesalers] Mikasa Asset Management, other
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mikasa Asset Management, Haseko Life Inc, Takara Holdings, Mainichi
Comnet Co, Mitsui Fudosan, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
MUFG (H/O)
SMBC (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
30/09/2014 |
31/03/2014 |
30/09/2013 |
|
|
Annual
Sales |
|
7,096 |
7,131 |
6,442 |
5,932 |
|
Recur.
Profit |
|
2,382 |
2,597 |
2,341 |
1,957 |
|
Net
Profit |
|
2,382 |
2,597 |
2,341 |
1,957 |
|
Total
Assets |
|
|
197,988 |
191,486 |
165,904 |
|
Current
Assets |
|
|
11,608 |
12,006 |
11,716 |
|
Current
Liabs |
|
|
12,795 |
2,228 |
15,348 |
|
Net
Worth |
|
|
95,510 |
95,458 |
86,299 |
|
Capital,
Paid-Up |
|
|
79,517 |
79,517 |
70,557 |
|
Div.Ttl
in Million (¥) |
|
|
2,385 |
1,958 |
1,958 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
-0.49 |
10.70 |
8.60 |
0.27 |
|
Current Ratio |
|
.. |
90.72 |
538.87 |
76.34 |
|
N.Worth Ratio |
|
.. |
48.24 |
49.85 |
52.02 |
|
R.Profit/Sales |
|
33.57 |
36.42 |
36.34 |
32.99 |
|
N.Profit/Sales |
|
33.57 |
36.42 |
36.34 |
32.99 |
|
Return On Equity |
|
.. |
2.72 |
2.45 |
2.27 |
Notes: Forecast (or
estimated) figures for the 31/03/2015 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 |
|
|
|
|
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.