MIRA INFORM REPORT

 

 

Report Date :

11.01.2007

 

IDENTIFICATION DETAILS

 

Name :

UYENO TRANSTECH CO LTD

 

 

Registered Office :

Daiba Frontier Bldg, 2-3-2 Daiba Minatoku Tokyo 135-8074

 

 

Country :

Japan

 

 

Date of Incorporation :

Apr 1984

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Petroleum & petrochemical tanker operator, with associated services.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 668.3 millions

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name

 

UYENO TRANSTECH CO LTD

 

 

REGD NAME

 

Uyeno Transtech KK

 

 

MAIN OFFICE

 

Daiba Frontier Bldg, 2-3-2 Daiba Minatoku Tokyo 135-8074 JAPAN

Tel  : 03-5500-3115

Fax : 03-5500-3163

*.. Registered and Head Quarters at: Daiichi Uyeno Bldg, 46 Yamashitacho

Nakaku Yokohama 231-0032; Tel: 045-671-7535

URL : http://www.uyeno-group.co.jp

E-Mail address: info@uyeno-group.co.jp

 

 

ACTIVITIES

 

Petroleum & petrochemical tanker operator, with associated services.

 

 

BRANCHES

 

Tokyo, Yokohama, Kawasaki, Nagoya, Osaka, Mizushima; Singapore

 

 

OVERSEAS

 

SU Navigation Pte Ltd (Singapore); Uyeno Hana Transia SA (Panama) (--JV subsidiaries)

 

 

OFFICERS

 

Yutaka Uyeno, ch                                  TAKASHI UYENO, PRES

Makoto Uyeno, dir                                  Zen Uyeno, dir

Kazuo Isa, dir                                        Gaku Yanagawa, dir

 

Yen Amount : In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 55,443 M

PAYMENTS      REGULAR                     CAPITAL           Yen 480 M

TREND             STEADY                       WORTH            Yen 2,464 M

STARTED         1984                             EMPLOYES      236

 

 

COMMENT

 

SHIP OPERATOR SPECIALIZING PETROLEUM AND CHEMICALS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 668.3 MILLION, 30 DAYS NORMAL TERMS.  .

 

 

HIGHLIGHTS

           

The subject company was established originally in 1869 by Kinjiro Uyeno in Yokohama as a shipping company carrying oil & products, on his account.  Incorporated in 1984, the firm has been succeeded by his descendants.  Takashi is the 5th generation master.  This is a ship operator, having two divisions: Transport Division & Sales Division.  Transport Division            is broken divided into: marine transport and inland transport.  Owns a total of 97 chemical & oil products tankers, total 239,444 DWT.  Chemical tankers (two ships of 6,500 DWT) trade             between Japan, Korea, China and Taiwan.  Owns 1,500 tanker trucks, operated by Japan Oil Network, which also operates 9 oil storage terminals nationwide, receiving, storing and shipping petroleum products.  In Nov 2004, founded a JV firm with Shokuyu Tanker Co, tanker operator, Tokyo, SU Navigation Pte Ltd in Singapore, where the JV operates 4 chemical tankers of each 8,500 DWT, trading within the S/E Asia and Pacific East regions.  Also in Sept 2005, founded Uyeno Hana Transasia SA in Panama, jointly with Hana Marine, Korea.  The firm also offers such businesses as agency, customs clearance, storage, insurance, petroleum sales, bunker supply, oil terminal management, etc.

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2006 fiscal term amounted to Yen 55,443 million, a 5% up from Yen 52,791 million in the previous term.  Shipping demand for oils/chemicals rose steeply within the S/E Asia region, including China.  The recurring profit was posted at Yen 768 million and the net profit at Yen 377 million, respectively, compared with Yen 432 million recurring profit and Yen 303 million net profit, respectively, a year ago.

 

For the current term ending Mar 2007 the net profit is projected at Yen 380 million, on a 3% rise in turnover, to Yen 57,000 million.  Shipping demand continues rising steadily.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 668.3 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered : Apr 1984

Legal Status                  : Limited Company (Kabushiki Kaisha)

Authorized                     : 38,400 shares

Issued                           : 9,600 shares

Sum                             : Yen 480 million

Major shareholders (%)   : Uyeno Kosan KK*(100)

*.. Holding Company owned by the Uyeno family

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Transportation company specializing in marine transport (63%), land transport (37%), offering such services as; petroleum & petrochemical transport, inland truck transport, ship agency, petroleum sales, ship bunker supply, oil terminal operation & management, customs clearance, storage /warehousing, marine disaster prevention, etc.

 

Clients: [Oil refineries, wholesalers, cargo owners] Itochu Corp, Sumitomo Corp, Marubeni Corp, Shell Chemicals Japan, Showa Shell Sekiyu, Mitsubishi Corp, Tsurumi Sun Marine, Japan Petroleum Exploration Co, Mitsubishi Chemical Logistics, Nippon Steel Chemical, ExxonMobile, Nippon Petrochemicals, other. 

 

No. of accounts: 800

 

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers, oil refineries] Mitsubishi Corp, Tsurumi Sun Marine, Higashinippon Uyeno Yuso, Nishinippon Uyeno Yuso, other.

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

 

Bank References

 

Mizuho Bank (H/O)

Mizuho Bank (Yokohama)

 

Relations: Satisfactory

 

 

 

 

 

 

FINANCES

 

(In Million Yen)

       Terms Ending:

31/03/2007

31/03/2006

31/03/2005

31/03/2004

Annual Sales

　

57,000

55,443

52,791

53,527

Recur. Profit

　

　

768

432

961

Net Profit

　

380

377

303

465

Total Assets

　

　

12,260

11,913

　

Current Assets

　

　

9,093

　

　

Current Liabs

　

　

8,145

　

　

Net Worth

　

　

2,464

　

　

Capital, Paid-Up

　

　

480

480

480

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

2.81

5.02

-1.38

-0.05

       Current Ratio

 

..

111.64

..

..

       N.Worth Ratio

..

20.10

0.00

..

       R.Profit/Sales

 

..

1.39

0.82

1.80

       N.Profit/Sales

0.67

0.68

0.57

0.87

       Return On Equity

..

15.30

..

..

 

Note: Forecast (or estimated) for the 31/03/2007 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/normal.

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

 

 

 

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