MIRA
INFORM REPORT
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Report Date : |
1st March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
JTB CARGO INC |
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Registered Office : |
Shuwa Kayabacho Bldg, 3-4-2 Nihombashi-Kayabacho Chuoku Tokyo
103-0025, Japan |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 (Estimated) |
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Date of Incorporation : |
October 1969 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Freight forwarder: sea/land/air transport, customs agent,
moving & removing services, pet transportation, other. |
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 320.3 Million |
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Status : |
Fair |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
JTB CARGO INC
REGD NAME
KK JTB Cargo
MAIN OFFICE
Shuwa Kayabacho Bldg, 3-4-2 Nihombashi-Kayabacho Chuoku Tokyo 103-0025
JAPAN
Tel :
03-5695-8300
Fax :
03-5695-8398
URL : http://www.jtbcargo.co.jp
E-Mail address : info@jtbcargo.co.jp
ACTIVITIES
Sea/Land/Air freight forwarder
BRANCHES
Osaka, Narita, Nagoya, Tochigi; USA
OFFICERS
TOSHIO MATSUGU, PRES
Masanori Nakajima, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 9,695 M
PAYMENTS REGULAR CAPITAL Yen 400 M
TREND STEADY WORTH Yen 1,150 M
STARTED 1969 EMPLOYES 85
COMMENT
FREIGHT FORWARDER, WHOLLY OWNED BY JTB CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 320.3 MILLION, 30 DAYS NORMAL
TERMS. .
HIGHLIGHTS
The subject company was established by JTB Corp as an air
cargo forwarder and gradually expanded operations to cover ocean transport,
moving/removing services, other. Branch offices at Narita Airport, Kansai
Airport and Nagoya. Also JTB Air Cargo
International Inc in USA. Clients are
major mfrs, business firms, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen
9,695 million, a 1% down from Yen 9,789 million in the previous term. The net profit was decreased to Yen 67
million from Yen 154 million a year ago.
For the current term ending Mar 2007 the net profit is
projected at Yen 100 million, on a 1% rise in turnover, to Yen 9,800 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 320.3 million, on 30 days normal terms.
REGISTRATION
Date Registered : Oct
1969
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
3.2 million shares
Issued :
800,000 shares
Sum :
Yen 400 million
Major shareholders (%)
JTB Corp*(100)
*.. Travel Agent, Tokyo, founded 1963, capital Yen 2,300
million, turnover Yen 1,332,960 million,
net profit Yen 2,609 million, employees 150, pres Takashi Sasaki
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Freight forwarder (100%): sea/land/air
transport, customs agent, moving & removing services, pet transportation,
other.
Clients
[Mfrs, business firms] Fujitsu Ltd, Toshiba Corp, Nissan
Motors, NEC, Toray Dow-Corning, other.
No. of accounts
1,000
Domestic areas of activities
Nationwide
Suppliers
[Airlines, shipping lines, agents] JAL International, ANA,
Tsubasa Service, Nippon Cargo Airlines, other.
Payment record
Regular
Location
Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Mizuho Bank (Yurakucho)
SMBC (Shimbashi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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9,800 |
9,695 |
9,789 |
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Recur.
Profit |
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139 |
231 |
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Net
Profit |
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100 |
67 |
154 |
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Total
Assets |
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2,550 |
2,391 |
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Current
Assets |
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2,213 |
2,085 |
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Current
Liabs |
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1,135 |
944 |
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Net
Worth |
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1,150 |
1,135 |
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Capital,
Paid-Up |
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400 |
400 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.08 |
-0.96 |
-2.05 |
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Current Ratio |
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194.98 |
220.87 |
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N.Worth Ratio |
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45.10 |
47.47 |
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R.Profit/Sales |
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1.43 |
2.36 |
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N.Profit/Sales |
1.02 |
0.69 |
1.57 |
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Return On Equity |
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5.83 |
13.57 |
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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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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 your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions