MIRA
INFORM REPORT
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Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
FAR EAST TRANSPORT CO LTD |
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Registered Office : |
Fuji Bldg 3F, 1-14-12 Nishishimbashi Minatoku Tokyo 105-0053 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
October 1979 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Ship Management, Ship Agency |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
YEN 12.9 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
FAR EAST TRANSPORT
CO LTD
REGD NAME: Kyokuto Sempaku KK
MAIN OFFICE: Fuji Bldg 3F, 1-14-12 Nishishimbashi Minatoku
Tokyo 105-0053 JAPAN
Tel:
03-3595-0091 Fax: 03-3593-3027
URL: Nil
ACTIVITIES
Ship management, ship agency
BRANCHES
Nil
OFFICER(S)
KANZO YOSHIKI, PRES
Kinzo Tamura, s/mgn dir
Iwao Mori, s/mgn dir
Koji Nishikura, mgn dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 700 M
PAYMENTS REGULAR CAPITAL Yen 80 M
TREND SLOW WORTH Yen 192 M
STARTED 1979 EMPLOYES 5 -10
COMMENT
SHIP MANAGEMENT & AGENCY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 12.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established Kanzo Yoshiki in order to make most of his experience in the shipping industry. This is a ship management and agency company. Also engaged in ship sales & purchase business. Works as a broker for shipbuilding, too. Ship management includes arrangement of foreign crew. The firm does not disclose full information except as outlined in this report.
FINANCIAL INFORMATION
The sales volume for Sept/2007 fiscal term amounted to Yen 700 million, a 1.5% up from Yen 690 million in the previous term. The net profit is only estimated posted at Yen 10 million, as the firm declined to disclose full financials details.
For the current term ending Sept 2008 the net profit is projected at Yen 10 million, on a 4% rise in turnover, to Yen 730 million. Ship handling was increased, according to the firm.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 12.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 1979
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 400,000 shares
Issued: 160,000 shares
Sum: Yen 80 million
Major shareholders (%)
Kanzo Yoshiki (18), Tokio Marine Nichido Fire Ins (10), Mitsui
Sumitomo Marine Ins (10), Shoji Watanabe (9), IHI (6), Imabari Shipbuilding Co (6), Koyo Dockyard (6)
No. of shareholders: 19
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Ship management & agency, supply of crew, ship machinery & supplies, other (--100%).
Clients
[Ship owners, ship operators] Kaisho Marine, Sunny Hurst Shipping, South Point
Marine, Jubilee Shipping, Prosperida Shipping, other.
No. of accounts: 300
Domestic areas of activities: Centered in greater-Tokyo
Suppliers
[Ship chandlers, ship owners, mfrs, wholesalers] Pastoral Marines, Gateway Lines, Karlamar Shipping Delantera Maritima, IHT Marine, IHI Marine US, Kobe Senyohin (ship supplies), Japan Radio, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
SMBC (Hibiya)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/09/2008 |
30/09/2007 |
30/09/2006 |
30/09/2005 |
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Annual
Sales |
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730 |
700 |
690 |
680 |
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Recur.
Profit |
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Net
Profit |
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10 |
10 |
8 |
8 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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192 |
182 |
174 |
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Capital,
Paid-Up |
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80 |
80 |
80 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.29 |
1.45 |
1.47 |
-2.86 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
1.37 |
1.43 |
1.16 |
1.18 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/09/2008 fiscal
term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.38 |
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UK Pound |
1 |
Rs.81.34 |
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Euro |
1 |
Rs.64.55 |
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. |
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%)