MIRA
INFORM REPORT
|
Report Date : |
03.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
KOYO TRADING CO LTD |
|
|
|
|
Registered Office : |
Kitagawa #5 Bldg 3F, 2-81 Hanasakicho Nakaku Yokohama
231-0083 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Date of Incorporation : |
November 1996 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Ship agency of Fujian Shipping Company (FUSCO) (China) |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
YEN 1 MILLION |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Regular |
COMPANY NAME &
ADDRESS
KOYO TRADING CO LTD
REGD NAME: KK Koyo Tsusho
Kitagawa #5 Bldg 3F, 2-81 Hanasakicho Nakaku Yokohama 231-0083 JAPAN
Tel: 045-262-8338
Fax: 045-262-8340
URL: N/A
E-mail:cah4670@pop.14.odn.ne.jp
ACTIVITIES
Ship agency of Fujian Shipping Company (FUSCO) (China)
BRANCHES
Nil
OFFICERS
AKIRA NAKASONE, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 50 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 45 M
STARTED 1996 EMPLOYES 7
COMMENT
SHIP AGENCY; IMPORTER OF FOODSTUFFS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR MODERARATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 1 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Akira Nakasone in
order to make most of his experience in the shipping business. This is a ship agent for Fujian Shipping
Company (FUSCO), China, handling its container ships between Japan & China. The subject also imports and wholesales
Chinese foodstuffs (prepared/cooked) for commercial use.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The revenues for July/2006July/2006 fiscal term amounted to
Yen 50 million, a similar amount in the previous term. The net profit was posted at Yen 5 million,
unchanged from a year ago.
For the term ended July 2007 the net profit is believed
posted at Yen 5 million, on a 20% rise in turnover, to Yen 60 million. Weaker Yen against foreign currencies should
have raised revenues in Yen terms.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
Max credit limit is estimated at Yen 1 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Nov
1996
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen
10 million
Major shareholders (%): Akira Nakasone (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Ship agency for Fujian Shipping Company of China
(FUSCO); also imports Chinese foodstuffs for commercial use (--100%).
Operating tonnage: JI Xiang (200 Teu’s) & Kai Fu (211
Teu’s), a weekly service between
Hitachinaka/Nagoya/Xiamen/Fuzhou/Mizushima/Osaka/Yokohama/Tokyo/Hitachinaka.
Clients: [Ship operators, ship agents, foodstuff dealers]
Nippon Express, Kamigumi Co, Sankyu Inc, other.
No. of accounts: 30
Domestic areas of activities: Nationwide
Suppliers: [Ship operator, food mfrs] Agent for Fujian
Shipping Company of China (FUSCO).
Imports foodstuffs from China.
Payment record
Regular
Location
Business area in Yokohama.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Yokohama Shinkin Bank (Yokohama-Nishiguchi)
Relations: Satisfactory
FINANCES: (In Million
Yen)
|
Terms Ending: |
|
31/07/2007 |
31/07/2006 |
31/07/2005 |
31/07/2004 |
|
Annual Sales |
|
60 |
50 |
50 |
40 |
|
Recur. Profit |
|
|
|
|
|
|
Net Profit |
|
5 |
5 |
5 |
4 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
45 |
40 |
35 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
20.00
|
0.00 |
25.00
|
-11.11
|
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
8.33 |
10.00
|
10.00
|
10.00
|
|
Notes: Financials are only partially disclosed.
Forecast (or estimated) for the 31/07/2007 fiscal term.
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 |
|
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)