MIRA
INFORM REPORT
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Report Date : |
26.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHIBUTA TUGBOAT CO LTD |
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Registered Office : |
4-1-23 Saiwaicho Monbetsu City Hokkaido 094-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Mar 1978 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Harbor tugboat operator |
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 14.5 milions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
SHIBUTA TUGBOAT CO LTD
REGD NAME
Shibuta Tugboat KK
MAIN OFFICE
4-1-23 Saiwaicho Monbetsu City Hokkaido 094-0005 JAPAN
Tel : 011-704-5551
Fax : 011-704-5559
*.. The given address is its liaison office
URL : N/A
ACTIVITIES
Harbor tugboat operator
BRANCHES
Sapporo, Hokuto, Hiroogun (--Hokkaido), Tokyo
OFFICERS
MASAMORI SHIBUTA, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 993 M
PAYMENTS REGULAR CAPITAL Yen 24 M
TREND STEADY WORTH Yen 49 M
STARTED 1978 EMPLOYES 31
COMMENT
HARBOR
TUGBOAT OPERATOR. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 14.5 MILLION, 30 DAYS NORMAL
TERMS. .
HIGHLIGHTS
The subject company was established originally in 1955 by
father of Masanori Shibuta, on his account.
Incorporated in 1978, the firm has been succeeded by Masanori
Shibuta. This is a harbor tugboat
operator, one of the top operators in Hokkaido. Operations are extended into nationwide areas. Clients include major construction companies
nationwide. Tokyo office covers the
nationwide areas, from Hokkaido down to Kyushu.
FINANCIAL INFORMATION
The firm stopped disclosing full financials (in digest form) as from the 31/03/2005 fiscal term and the following partial figures are made available.
The
sales volume for Mar/2006 fiscal term amounted to Yen 993 million, a 45% steep
hike from Yen 684 million in the previous term. This is attributed to the launching of new large size harbor tug
boat. The net profit rose steeply to
Yen 21 million from Yen 5 million a year ago.
The firm booked Yen 31 million net loss for the 31/03/2004 fiscal term, coming
from heavy investment costs.
For the term just ended Mar 2007 the net profit was projected
at Yen 5 million, on an almost similar turnover, at Yen 1,000 million.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 14.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Mar
1978
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 96,000
shares
Issued: 24,000
shares
Sum: Yen
24 million
Major shareholders (%): Masamori Shibuta (83), Shizuko Shibuta (17)
No. of shareholders: 2
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Harbor tug boat operator (100%).
Clients: [Construction firms, mfrs] Nishimura Gumi, Iwakura Kensetsu (Construction), Toa Corp, Horimatsu Kensetsu Kogyo, Honma Corp, Shimada Kensetsu, Yasuda Kensetsu, Tomac (Toyo Marine), Tatsumi Shokai, Hamaya Kensetsu, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Ship builders, mfrs, wholesalers] Niigata Monbetsu
Shipbuilding, Nakanishi Marine, Yanmar Hakuyo Systems, Kushiro Heavy Ind,
Kitahama Tekkosho, Nippon Ring Service, Nihon Zosen Tekko, Wakkanai Kowan Kensetsu
(Harbor Facilities), other.
Payment record: Regular
Location: Business area in Monbetsu City, Hokkaido. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References
Engaru Shinkin Bank (Monbetsu)
Hokkaido Bank (Monbetsu)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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1,000 |
993 |
684 |
512 |
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Recur.
Profit |
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.. |
.. |
.. |
-28 |
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Net Profit |
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5 |
5 |
21 |
-13 |
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Total
Assets |
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N/A |
N/A |
458 |
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Net
Worth |
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49 |
46 |
31 |
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Capital,
Paid-Up |
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24 |
24 |
24 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.70 |
45.18 |
33.59 |
2.40 |
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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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6.77 |
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N.Profit/Sales |
0.50 |
0.50 |
3.07 |
-2.54 |
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Note: Financials are only partially disclosed, after the
31/03/2004 fiscal term.
Forecast (or estimated) for the 31/03/2007 fiscal term.
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)