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Report No. : |
346186 |
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Report Date : |
26.10.2015 |
IDENTIFICATION DETAILS
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Name : |
TRAVEL INNOVATION JAPAN INC |
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Registered Office : |
Victory Bldg 4F, 1-3-13 Hiranuma Nishiku Yokohama 220-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2014 |
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Date of Incorporation : |
September 2012 |
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Legal Form : |
Limited Company |
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Line of Business : |
Travel Agency (Domestic & Overseas
Travels), Other (--100%) |
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No. of Employees : |
11 |
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 7.8 Million |
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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 |
TRAVEL INNOVATION JAPAN INC
REGD NAME: Travel
Innovation Japan KK
MAIN OFFICE: Victory
Bldg 4F, 1-3-13 Hiranuma Nishiku Yokohama 220-0023 JAPAN
Tel:
045-624-9221 Fax: 045-328-3096
E-Mail address: info@ti-j.co.jp
ACTIVITIES: Travel
agency (domestic & overseas travels)
BRANCHES: Nil
OFFICERS: KENTARO
KIJIMOTO, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 412 M
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 9.5 M
TREND UP WORTH Yen 30 M
STARTED 2012 EMPLOYES 11
COMMENT: TRAVEL AGENCY. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 7.8 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company is a travel agency for domestic & overseas
travels. Clients include travelers and
business firms.
Financials are disclosed only partially. Profits are not disclosed and only estimated.
The sales volume for Aug/2014 fiscal term amounted to Yen 412 million, a 177% up from
Yen 149 million in the previous term. Travelers increased particularly for overseas, also the number of travelers from abroad rose. The net profit is estimated posted at Yen 15 million, compared with Yen 5 million for the previous initial accounting term.
For the term that ended Aug 2015 the net profit was projected at Yen 30 million, on a 9% rise in turnover, to Yen 450 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 7.8 million, on 30 days normal terms.
Date Registered: Sept 2012
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 760
shares
Issued: 190
shares
Sum: Yen
9.5 million
Major
shareholders (%): Kentaro
Kijimoto (100)
Nothing
detrimental is known as to his commercial morality.
Activities: Travel agency
(domestic & overseas travels), other (--100%)
Clients: Travelers,
business firms, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Travel agencies, hotels, other
Payment record: Slow but correct
Location: Business area in
Yokohama. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Higashi-Nippon
Bank (Yokohama)
Mizuho Bank
(Yokohama-Higashiguchi)
Relations:
Satisfactory
(In Million
Yen)
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Terms Ending: |
|
31/08/2015 |
31/08/2014 |
31/08/2013 |
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Annual
Sales |
|
450 |
412 |
149 |
|
Recur.
Profit |
|
.. |
.. |
.. |
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Net
Profit |
|
20 |
15 |
5 |
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Total
Assets |
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|
N/A |
N/A |
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Net
Worth |
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|
30 |
15 |
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Capital,
Paid-Up |
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|
9 |
9 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
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S.Growth Rate |
|
9.22 |
176.51 |
- - - |
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Current Ratio |
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|
.. |
.. |
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N.Worth Ratio |
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|
.. |
.. |
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N.Profit/Sales |
|
4.44 |
3.64 |
3.36 |
Notes: Financials are only partially disclosed. The 31/08/2013 is the initial accounting term from the inception of the firm. Profits are not disclosed and only estimated. Forecast (or estimated) figures for the 31/08/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.