MIRA
INFORM REPORT
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Report Date : |
01.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
PAN WORLD LOGISTICS LTD |
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Registered Office : |
2-3-10
Hyogocho Hyogoku Kobe 652-0813 |
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Country : |
Japan |
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Date of Incorporation : |
Jun 2004 |
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Com. Reg. No.: |
1400-41-023604 |
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Legal Form : |
Limited Company
(Kabushiki Kaisha) |
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Line of Business : |
Ship agency; international freight forwarder |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
Undetermined
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME
PAN WORLD LOGISTICS LTD
REGD NAME
KK Shinwa Kokusai Butsuryu
MAIN OFFICE
2-3-10 Hyogocho Hyogoku Kobe
652-0813 JAPAN
Tel : 078-685-6938
Fax : 078-685-6584
URL : N/A
ACTIVITIES
Ship agency;
international freight forwarder
BRANCHES
Nil
OFFICERS
AKIRA IGARASHI, PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES UNDETD A/SALES Yen 100 M*
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND UNDETD WORTH Yen
10 M**
STARTED 2004 EMPLOYES 5
*..
Only estimated; **.. Expressed by the
paid-up capital
COMMENT
FREIGHT FORWARDER AND
SHIP AGENCY, WHOLLY OWNED BY PAN WORLD LOGISTICS LTD, SHANGHAI, CHINA.
FINANCIAL SITUATION NOT DETERMINED DUE TO THE RECENT INCEPTION AND LACK OF BUSINESS BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: UNABLE TO BE ASSESSED DUE TO THE LACK OF PROVEN BUSINESS RECORDS.
HIGHLIGHTS
The subject company was established by Pan World Logistics Ltd, China as its marketing base in Japan. This is an international freight forwarder and ship agency, servicing as agent for the Chinese parent. Handles freight forwarding to/from China and Japan. Also serves as ship agent for the parent’s vessels calling Japan.
FINANCIAL INFORMATION
Finances are all consolidated by the parent and the subject firm does not disclose full financials. The following figures are all collected verbally from the firm’s treasurer and are believed correct. No outside sources to verify these figures, though.
The sales volume for May/2006 fiscal term amounted to Yen 100 million, a similar amount in the previous term. The net profit was believed posted at Yen 5 million, but this again is not a confirmed figures.
For the current term ending May 2007 the net profit is projected at Yen 10 million, on a 10% rise in turnover, to Yen 110 million. Robust cargo movement between China & Japan will bring increased sales amount to the firm, the treasurer said.
Both the financial situation and business trends are not determined due to the recent inception and lack of proven business records but should be good for MODERATE business engagements. Max credit limit is unable to be assessed due to the lack of proven business records. We recommend all credits to be on fully guaranteed terms.
REGISTRATION
Date Registered: Jun 2004
Regd Number: 1400-41-023604
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Akira Igarashi (100)
Nothing detrimental
is known as to his commercial morality.
OPERATION
Activities: International freight forwarder, as agent for Pan World Logistics Ltd, China, servicing between Japan & China freight transport; also servicing as ship agent for the parent’s vessels calling Japan ports (--100%).
Clients: Cargo owners, mfrs, wholesalers, ship agents, freight forwarders, others
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: Ship
owners, ship operators, freight forwarders, stevedoring, other.
Payment record:
Regular
Location: Business area in Kobe. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Resona Bank (Kobe)
Relations:
Satisfactory
FINANCES
(In Million Yen)
NOT MADE AVAILABLE
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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