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Report No. : |
351445 |
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Report Date : |
24.11.2015 |
IDENTIFICATION DETAILS
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Name : |
ISE REALTY CO LTD |
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Registered Office : |
3-8-4 Negishi Taitoku Tokyo 110-0003 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
March, 1977 |
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Com. Reg. No.: |
0105-01-028993 (Tokyo-Taitoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Management and Retail of Real Estate, Office Buildings. |
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No. of Employees : |
50 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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.
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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 first-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2012. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
ISE REALTY CO LTD
REGD NAME: KK
Ise Realty (Ise is pronounced as “Aise” in Japanese)
MAIN OFFICE: 3-8-4
Negishi Taitoku Tokyo 110-0003 JAPAN
Tel: 03-3876-1974
URL: N/A
Management,
retail of real estate, office buildings
Tokyo
(Chiyodaku)
HIKONOBU
ISE, PRES
Yoshiyuki
Yanagi, dir
Masamoto
Yumoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen
2,500 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 3
M
TREND STEADY WORTH Yen
5 M
STARTED 1977 EMPLOYES 50
MANAGEMENT OF REAL ESTATE,
OFFICE BUILDINGS, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The
subject company is a management and rental of real estate and office buildings,
belonging to Ise Group firms, the largest egg producer of Japan. In Nov/2014 merged a sister company, Ise Foods Works KK. The
given Ise Nojo (means Farm) is a producer of poultry and eggs, iga City
Mie-Pref, with Hikonobu Ise concurrently pres at the firm.
Financials are disclosed only partially.
The sales volume for Dec/2014 fiscal term amounted to Yen
2,500 million, a 25% up from Yen 2,000 million in the previous term. This is attributed
to the rise of
office buildings rentals. The net profit continued to the minimum amount. The
profits are estimated from the firm’s net worth as not precisely disclosed.
For the current term ending Dec 2015 the net profit is
projected at Yen 5 million, on a 3% rise in turnover, to Yen 2,570 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Mar 1977
Regd No.: 0105-01-028993 (Tokyo-Taitoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 10,000
shares
Issued:
3,000 shares
Sum: Yen 3 million
Major shareholders (%): Hikonobu Ise (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Management and rental of real estate,
office buildings, other (--100%)
Clients: [Mfrs, wholesalers] Ise Foods Inc,
Suga Kogyo Co, Ise Group firms, tenants, other
No. of accounts: 150
Domestic
areas of activities: Centered in the greater-Tokyo
Suppliers:
[Mfrs, wholesalers] Ise Foods Group firms
Payment record: Slow but correct
Location:
Business area in Tokyo.
Office premises at the caption address are owned and maintained satisfactory.
Bank References:
MUFG (Toranomon-Chuo)
Mizuho Bank (Senzoku)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
|
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
Annual
Sales |
|
2,570 |
2,500 |
2,000 |
1,840 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
5 |
0 |
0 |
-211 |
|
Total
Assets |
|
|
17 |
N/A |
14 |
|
Net
Worth |
|
|
5 |
5 |
5 |
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Capital,
Paid-Up |
|
|
3 |
3 |
3 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.80 |
25.00 |
8.70 |
0.00 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
29.41 |
.. |
35.71 |
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N.Profit/Sales |
|
0.19 |
0.00 |
0.00 |
-11.47 |
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.35 |
|
|
1 |
Rs.100.66 |
|
Euro |
1 |
Rs.70.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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 |
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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.