MIRA
INFORM REPORT
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Report Date : |
22nd
January, 2007 |
IDENTIFICATION DETAILS
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Name : |
MITSUI
OSK TECHNO-TRADE LTD |
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Registered Office : |
Kokusaikogyo
Kanda Bldg 3/4 F’s, 2-3-4 Uchikanda Chiyodaku |
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Country : |
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Financials (as on) : |
31.03.2007
(Estimated) |
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Date of Incorporation : |
June
1948 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Supply of ship fuels, lube oils, ship machinery & equipment. |
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 291.3 MILLION |
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Status : |
Fair |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
MITSUI
OSK TECHNO-TRADE LTD (ABBREVIATED AS MO TECH)
REGD NAME
Shosen
Mitsui Techno Trade KK
MAIN OFFICE
Kokusaikogyo
Kanda Bldg 3/4 F’s, 2-3-4 Uchikanda Chiyodaku Tokyo 101-0047
Tel : 03-3258-7170
Fax : 03-3258-7415
URL : http://www.motech.co.jp
E-Mail address : info@motech.co.jp
ACTIVITIES
Supply of ship fuels, lube oils, ship machinery & equipment
BRANCHES
OVERSEAS
OFFICERS
KAZUICHI OKAI, PRES & CEO Masami
Odaka, s/mgn dir
Yoshio Ozaki, mgn dir Takeshige
Kikuchi, mgn dir
Kiyofumi Emoto, mgn dir Masatoshi
Yokoo, mgn dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 45,318 M
PAYMENTS REGULAR CAPITAL Yen 490 M
TREND STEADY WORTH Yen 1,579 M
STARTED 2000 EMPLOYES 121
COMMENT
TRADING COMPANY SPECIALIZING IN MARINE FUELS, MACHINERY & SUPPLIES,
WHOLLY OWNED BY MITSUI OSK LINES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 291.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1948 as a ship
operation & maintenance company by the then OSK Lines (currently Mitsui OSK
Lines after the merger). In Apr 2000,
the subject merged three sister firms: Mitsui OSK Kogyo Kaisha (founded 1948),
Navix Techno-Trade (founded 1973) and Nippon Engineering & Machineries
(founded 1967), to rename as captioned.
This is a trading firm specializing in supply of marine fuels, luboils,
ship machinery, equipment, parts, and other materials related to ships,
including ship management & maintenance services, as a mainline. By the merger, operations expanded to include
machinery division, real estate division, shore construction materials division,
and new business division (see OPERATIONS).
The mainline of marine fuels & lube oils division is growing rapidly
backed up by the steep rise in oil
prices. Clients are mostly Mitsui OSK
Lines group firms. Three overseas
subsidiaries take part in supplying marine fuels and ship supplies overseas.
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 45,318
million, a sharp 38% up from Yen 32,667 million in the previous term. This is attributed to the skyrocketing rise
in oil prices for supply to ships. The
recurring profit was posted at Yen 572 million and the net profit at Yen 532
million, respectively, compared with Yen 284 million recurring profit and Yen
188 million net profit, respectively, a year ago.
For the current term ending Mar 2007 the recurring profit is
projected at Yen 580 million and the net profit at Yen 530 million,
respectively, on a 10% rise in turnover, to Yen 50,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 291.3 million, on 30 days normal terms.
REGISTRATION
Date Registered : Jun 1948
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
39.2 million shares
Issued :
9.8 million shares
Sum :
Yen 490 million
Major shareholders (%)
Mitsui OSK Lines*(100)
*.. Nation’s second largest shipping company, Tokyo, founded 1884,
listed Tokyo, Osaka, Nagoya, Sapporo, Fukuoka S/E’s, capital 64,915 million, turnover
Yen 1,366,725 million, recurring profit Yen 176,502 million, net profit Yen
113,731 million, total assets Yen 1,470,824
million, net worth Yen 424,460 million, employees 8,351, pres Akimitsu Ashida
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: A trading house specializing in marine fuels &
supplies (--100%).
Business operations:
Marine Fuel & Ship Supplies
Div:
ship machineries, equipment, parts, marine fuels, lube oils,
maintenance services of Japan’s national oil storage bases, and other materials
related to ships;
Machinery Div
(non-ship-related): building facilities (installation & maintenance included),
air-conditioning equipment for nuclear power plants, industrial equipment, etc;
Real Estate Div: design, construction
and sale of imported housings, real estate brokerages, etc;
Shore Construction Materials
Div:
sand & aggregate for airport facilities, revetment works, others;
New Business Div:
cultivation of flowers (at own farm), health foods, gardening equipment
& materials, etc.
Clients
[Ship owners, operators, wholesalers]
No. of accounts
300
Domestic areas of activities
Nationwide
Suppliers
[Oil suppliers, oil refineries] Exxon Mobil, Cosmo Oil, Marubeni
Petroleum Co, Sentek Marine & Trading Pte Ltd, Idemitsu Fine Oil
Higashinippon, other.
Payment record
Regular
Location
Business area in
Bank References
SMBC (H/O)
Bank of Tokyo-Mitsubishi UFJ (
Relations: Satisfactory
FINANCES
(In
Million Yen)
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Terms
Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual Sales |
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50,000 |
45,318 |
32,667 |
31,967 |
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Recur. Profit |
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580 |
572 |
284 |
472 |
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Net Profit |
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530 |
532 |
188 |
395 |
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Total Assets |
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15,810 |
12,591 |
11,311 |
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Current Assets |
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12,747 |
9,195 |
7,737 |
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Current Liabs |
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13,312 |
10,599 |
9,428 |
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Net Worth |
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1,579 |
983 |
769 |
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Capital, Paid-Up |
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490 |
490 |
11,311 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
10.33 |
38.73 |
2.19 |
2.36 |
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Current Ratio |
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95.76 |
86.75 |
82.06 |
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N.Worth Ratio |
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9.99 |
7.81 |
6.80 |
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R.Profit/Sales |
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1.16 |
1.26 |
0.87 |
1.48 |
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N.Profit/Sales |
1.06 |
1.17 |
0.58 |
1.24 |
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Return On Equity |
.. |
33.69 |
19.13 |
51.37 |
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Note: 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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