MIRA
INFORM REPORT
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Report Date : |
23rd February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
PETRO-DIAMOND JAPAN CORPORATION |
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Registered Office : |
Mitsubishi Corp Bldg 5F, 2-3-1 Marunouchi Chiyodaku Tokyo 100-0005,
Japan |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
January 2000 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesales and supplies bunker oils, marine lubricants,
specialty lubricants; operation of crude and crude products consigned from the
parent, Mitsubishi Corp. |
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 1,365 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
PETRO-DIAMOND JAPAN CORPORATION
REGD NAME
Petro Diamond Japan KK
MAIN OFFICE
Mitsubishi Corp Bldg 5F, 2-3-1 Marunouchi
Chiyodaku Tokyo 100-0005 JAPAN
Tel :
03-3210-5747
Fax :
03-3210-5928
URL : http://www.pd-j.com/
(now under repair)
E-Mail address : postmaster@pd-j.com;
bunker@pd-j.com
ACTIVITIES
Sale of bunker oils, marine
lubricants
BRANCHES
Nil (Agents worldwide &
nationwide)
OFFICER(S)
TETSUYA FUKUOKA, PRES Masaya Sasaki, dir
Kazuyuki Masu, dir Keiichi
Asai, dir
Yen Amount
In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 18,600 M*
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 626 M
STARTED 2000 EMPLOYES 30
*.. For 3 months due to change in accounting term.
COMMENT
WHOLESALER SPECIALIZING IN
BUNKER OILS AND MARINE LUBRICANTS, WHOLLY OWNED BY MITSUBISHI CORP. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 1,365
MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of bunker
sales division separated from Mitsubishi Corp (see REGISTRATION for details) as
MC Marine & Bunkering Inc, for supply of bunker fuels to ships. In Mar 2002 renamed as captioned to handle
additionally marine lubricants and related products. In Apr 2003, started to handle specialty lubricants and operation
of crude & crude oil products consigned from the parent, Mitsubishi
Corp. Bunker sales amount to about 3.5
million tons (annually) at worldwide ports.
In the marine lubricants, controls about 10% of total bunker sales to
Japanese-owned/controlled ships.
Bunkering services cover all major Japan ports (31 ports) and worldwide
ports in Europe, Mid East, Africa, N & S America, Taiwan, Singapore, other
Asia & Oceania areas. The firm is
one of 121 subsidiaries under the Energy Division at the parent, the total
consolidated sales of the Division accounting for 24% of the total group sales.
FINANCIAL INFORMATION
The firm does not disclose full financials as they are
consolidated in the parent’s financials.
Only the following partial figures are available.
The sales volume for Mar/2006 fiscal term for irregular 3
months amounted to Yen 18,600 million, up 16% as adjusted on a 12-month basis
from Yen 64,108 million in the previous term ending Dec/2005. Hike of oil prices contributed to boost
sales. The net profit was posted at Yen
82 million, compared with 158 million for a full year the previous term.
For the current term ending Mar 2007 the net profit is
projected at Yen 160 million, on a 5% rise in turnover, to Yen 78,000
million. The hike in crude oil will
raise the sales amount in Yen terms.
The firm targets sales of 30,000 KL of marine lubricants to more than
200 vessels worldwide this year.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 1,365 million, on 30 days normal terms.
REGISTRATION
Date Registered : Jan
2000
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
800 shares
Issued :
200 shares
Sum :
Yen 10 million
Major shareholders (%)
Mitsubishi Corporation*(100)
*.. Largest general trading house and one of core firms of
Mitsubishi Group, Tokyo, founded 1950, listed Tokyo, Osaka, Nagoya and London
S/E’s, capital Yen 197,818 million, turnover Yen 19,067,153 million, recurring
profit Yen 478,383 million, net profit Yen 360,045 million, total assets Yen
10,411,241 million, net worth Yen 2,379,264 million, employees 53,738, pres
Yorihiko Kojima
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Wholesales and supplies bunker oils, marine
lubricants, specialty lubricants; operation of crude and crude products
consigned from the parent, Mitsubishi Corp (--100%). Annual bunker sales
average 3.5 million tons worldwide.
Clients
[Ship owners, operators] NYK, Mitsui OSK Lines, Kawasaki
Kisen, other.
No. of accounts: Unavailable
Domestic areas of activities: Nationwide & worldwide
Suppliers
[Oil refineries, oil traders] Nippon Oil, Showa Shell
Sekiyu, Cosmo Oil, Japan Energy,
other.
Payment record
Regular
Location
Business area in Tokyo.
Office premises at the caption address are owned by the parent,
Mitsubishi Corp, and maintained satisfactorily.
Bank References
City Bank NA (Tokyo)
MUFG (Tokyo)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2007 |
31/03/2006 |
31/12/2005 |
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Annual
Sales |
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78,000 |
18,600 |
64,108 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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160 |
82 |
158 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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626 |
544 |
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Capital,
Paid-Up |
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10 |
10 |
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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 |
4.83 |
16.05 |
30.56 |
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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 |
0.21 |
0.44 |
0.25 |
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Notes: Financials are only partially disclosed.
Accounting term changed to Apr/Mar from the 31/03/2006 fiscal term. Growth rates are adjusted on a 12-month basis.
Forecast (or estimated) figures 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%)
PRIVATE
& CONFIDENTIAL : This information is provided to you at
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