MIRA
INFORM REPORT
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Report Date : |
24th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
UNIVERSAL
SHIPPING CO LTD |
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Registered Office : |
Kochiwa
Bldg 2F, 4-8-12 Ginza Chuoku Tokyo 104-0061, Japan |
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Country : |
Japan |
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Financials (as on) : |
31.01.2006 |
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Date of Incorporation : |
March
1982 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Ship broker specializing in steels, steel products, fertilizer,
other industrial raw materials |
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 157.2 Million |
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Status : |
Fair |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
UNIVERSAL
SHIPPING CO LTD
REGD NAME
Universal
Kaiun KK
MAIN OFFICE
Kochiwa
Bldg 2F, 4-8-12 Ginza Chuoku Tokyo 104-0061 JAPAN
Tel : 03-3562-7080
Fax : 03-3562-7081
URL : N/A
ACTIVITIES
Ship broker
BRANCHES
Nil
OFFICERS
KATSUFUMI KAWABATA, PRES
Koichi Kurokawa, dir
Akira Tazawa, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,691 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 643 M
STARTED 1982 EMPLOYES 5
COMMENT
SHIP BROKER SPECIALIZING IN STEEL PRODUCTS, FERTILIZER, ETC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINAR BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 157.2 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Katsufumi Kawabata in order
to make most of his experience in the
shipping industry. This is a ship
broker specializing in steels, steel products
and fertilizer as main items, also other industrial materials. The services include ship charter, ship sales & purchase, ship
management, and other related services.
Now, specifically concentrating on transport to and from China, which
business continues growing. Clients are
major general trading houses, nationwide.
FINANCIAL INFORMATION
The revenues for Jan/2006 fiscal term amounted to Yen 3,691
million, a 6% down from Yen 3,939 million in the previous term. Cargo movement was steady, while the freight
rates declined from the peak period due to competition in the trade. The net profit decreased to Yen 182 million
from Yen 317 million. Full financials
are not released for this term.
For the current term ending Jan 2007 the net profit is projected
at Yen 290 million, on a 6% rise in turnover, to Yen 3,900 million. Cargo movement is seen increasing. Weaker Yen will assist to raise revenues in
Yen terms.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 157.2 million, on 30 days normal terms.
REGISTRATION
Date Registered :
Mar 1982
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
800 shares
Issued :
200 shares
Sum :
Yen 10 million
Major shareholders (%)
Katsufumi Kawabata (63), Koichi Kurokawa (13), Akira Tazawa (6)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Ship broker specializing in steels, steel products,
fertilizer, other industrial raw materials (--100%).
The service include: ship charter, ship sales & purchase, ship
management, and related.
Clients
[Trading houses] Mitsui & Co, Sojitz Corp, Mitsubishi Corp,
Shinsho Corp, Itochu Corp, other.
No. of accounts
10
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
Ship owners, ship operators, other
Payment record
Regular
Location
Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
SMBC (Kyobashi)
Mizuho Bank (Kudan)
Relations: Money deposits and transfers only.
FINANCES
(In
Million Yen)
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Terms Ending: |
31/01/2006 |
31/01/2005 |
31/01/2004 |
31/01/2003 |
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Annual
Sales |
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3,691
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3,939
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3,376
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2,741
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Recur.
Profit |
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569 |
166 |
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Net
Profit |
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182 |
317 |
87 |
65 |
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Total
Assets |
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760 |
402 |
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Current
Assets |
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710 |
364 |
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Current
Liabs |
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261 |
194 |
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Net
Worth |
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643 |
481 |
176 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
-6.30
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16.68
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23.17
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9.46 |
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Current Ratio |
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272.03
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187.63
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N.Worth Ratio |
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63.29
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43.78
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R.Profit/Sales |
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14.45
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4.92 |
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N.Profit/Sales |
4.93 |
8.05 |
2.58 |
2.37 |
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Return On Equity |
.. |
65.90
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49.43
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.. |
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Note: Financials are
only partially disclosed for the 31/01/2006 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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