MIRA
INFORM REPORT
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Report Date : |
24th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
KEIHIN
KOUN CO LTD |
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Registered Office : |
2-1-50
Chiwakacho Kanagawaku Yokohama 221-0036, Japan |
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Country : |
Japan |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
April
1955 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Freight forwarder of harbor transport, sea/land/air transport,
warehousing |
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 37.6 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
KEIHIN
KOUN CO LTD
REGD NAME
Keihin
Koun KK
MAIN OFFICE
2-1-50
Chiwakacho Kanagawaku Yokohama 221-0036 JAPAN
Tel : 045-451-1911
Fax : 045-451-0847
*..
Registered at: 107-7 Yamashitacho Nakaku Yokohama
URL :
http://www.keihinkoun.com
E-Mail address :
info@keihinkoun.com
ACTIVITIES
Freight forwarder of harbor transport, sea/land/air transport,
warehousing
BRANCHES
Yokohama (Daikoku Pier), Tochigi, Sagamihara
OVERSEAS
Guangzhou (China) (opened Mar 2006)
FACTORY(IES)
Yokohama (Warehouse)
OFFICERS
Masaichi Sugai, hon ch Yuji
Niinami, ch
YOSHIE SUGAI, PRES Akio
Futamoto, s/mgn dir
Akio Morita, mgn dir Keiji
Suda, mgn dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 6,873 M
PAYMENTS REGULAR CAPITAL Yen 180 M
TREND STEADY WORTH Yen 358 M*
STARTED 1955 EMPLOYES 128
*.. For 31/03/2005 term.
COMMENT
FREIGHT FORWARDER..
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 37.6 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by father of Masaichi Sugai
for the purpose of handling & machinery maintenance aboard US ships. This is a freight forwarder, owned by the
Sugai family, offering harbor transport, sea/land/air transport, lorry
transport, motor carrier services.
Strength and emphasis transport services from and into China, where such
cargoes as automobile parts & components, plant machinery, other heavy
machinery movement keeps rising. Links
Thailand & other S/E Asian and China trade. In Apr 1964, obtained licenses for harbor transport services at
Keihin Port (Tokyo & Yokohama Ports) for: Type 1 (regular principal
contractor agent, customs broker); Type 2 (onboard cargo handling); and Type 4
(coastal cargo handling). In Mar 1965,
obtained licenses for lorry transport in Yokohama City, Kawasaki City, Sagamihara City, Machida City, in addition
to Osaka City, Itami City, and Hyogo Pref.
In Mar 2006, opened Guangzhou Office in China, offering warehousing,
storage, cargo sorting, cargo packaging, other associated services for
automotive parts & components, covering Huado, Port of Zhangjiagang, Hong
Kong and Dalian areas. The Guangzhou
Office also handles heavy Machinery & equipment for plants in these areas
from Thailand and Japan.
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 6,873
million, a 2% up from Yen 6,747 million in the previous term. Business continues rising thanks to
transportation needs, particularly of automobile parts & components and
heavy machinery items, from and into China.
The net profit was posted at Yen 24 million, up from Yen 13 million a
year ago.
For the current term ending Mar 2007 the net profit is projected
at Yen 25 million, on a 2% rise in turnover, to Yen 7,000 million. Transportation needs continue, on the back
of robust automobile mfg & transport in China and other S/E Asian
countries. Plant machinery &
equipment will continue rising into China.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 37.6 million, on 30 days normal terms.
REGISTRATION
Date Registered : Apr 1955
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
728,000 shares
Issued :
360,000 shares
Sum :
Yen 180 million
Major shareholders (%)
Yoshie Sugai (41), Masaichi Sugai (15), S International*(13),
Nissan Diesel Motor (6), Akio Futamoto (5)
*.. Holding company owned by the Sugai family
No. of shareholders: 17
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Freight forwarder offering services for: harbor
transport, customs broking, sea/land/air transport, inland lorry transport,
domestic freight forwarding, warehousing, other associated services (--100%).
Clients
[Shipping firms, automakers, wholesalers, cargo owners] Evergreen
Japan Corp, Eastern Car Liner, Nissan Diesel Motor, Kanematsu Corp, UTOC Corp,
Topy Enterprises, Komatsu Logistics, Fuso Japan, Marubeni Vehicle Corp, Zen-Noh,
Showa Reizo, Nissan Diesel Motor, Hitachi High Technologies, Suzue Container
Inc, Sumitomo Warehouse, Mitsubishi Steel Mfg, Meiko Trans Co, Ricoh Logistics
System, Japan Ground Self
Defense Force, Japan Headquarters of US Navy & Army Transport, other.
No. of accounts
1,000
Domestic areas of activities
Nationwide
Suppliers
[Shipping firms, freight forwarders, logistic firms] Yokohama
Container Terminal Enterprise, Ricoh Logistics, TY Japan, Yokohama City Harbor
Bureau, Shinko Soko Co, Nissin Corp, Nakamura Rikuun (land transport), Japan
Overseas Transport, Maruma Unyu, Suntex, other.
Payment record
Regular
Location
Business area in Yokohama.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Mizuho Bank (Yokohama)
Bank of Yokohama (Motomachi)
Relations: Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
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Annual
Sales |
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6,873
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6,747
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6,180
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6,577
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Recur.
Profit |
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104 |
35 |
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Net
Profit |
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24 |
13 |
8 |
6 |
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Total
Assets |
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4,974
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5,255
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Current
Assets |
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2,231
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2,290
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Current
Liabs |
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1,434
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1,554
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Net
Worth |
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358 |
345 |
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Capital,
Paid-Up |
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180 |
180 |
180 |
180 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.87 |
9.17 |
-6.04
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2.81 |
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Current Ratio |
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155.58
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147.36
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N.Worth Ratio |
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7.20 |
6.57 |
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R.Profit/Sales |
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1.54 |
0.57 |
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N.Profit/Sales |
0.35 |
0.19 |
0.13 |
0.09 |
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Return On Equity |
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3.63 |
2.32 |
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Note: Financials for
the 31/03/2006 term are only partially disclosed as above.
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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