MIRA
INFORM REPORT
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Report Date : |
06.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
OCEAN TRADING CO LTD |
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Registered Office : |
Kyoto Toshiba Bldg 2F, 25 Saiin Hiramachi Ukyoku Kyoto 615-0022 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
Jan 1973 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale seafood,
vegetables, cut flowers, fruits, 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 166.2 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
NAME & ADDRESS
OCEAN TRADING CO LTD
REGD NAME
Ocean Boeki KK
MAIN OFFICE
Kyoto Toshiba Bldg 2F, 25 Saiin Hiramachi Ukyoku Kyoto 615-0022 JAPAN
Tel: 075-314-8720
Fax: 075-313-6150
URL: http://www.oceantrading.co.jp/
E-Mail address: mailadm@oceantrading.co.jp
ACTIVITIES
Import, wholesale seafood, vegetables, cut flowers, fruits,
other
BRANCHES
Tokyo
FACTORY(IES)
Ohtsu (Shiga) (-- Farm)
OFFICER(S)
TACHIO YONEDA, PRES
Tomoko Yoneda, dir
Johji Yoneda, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 8,600 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 396 M
STARTED 1973 EMPLOYES 40
COMMENT
IMPORTER OF SEAFOOD, VEGETABLES, FLOWERS, OTHER. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 166.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Tachio Yoneda in
order to make most of his experience in the subject line of business. This is
a trading firm specializing in import of seafood for sushi, vegetables, fruits,
cut flowers, other. Goods are imported from all over the world. Sushi and sushi fishes are imported mainly
from Thailand. Clients are central
fish/vegetable markets all over Japan, including supermarkets, convenience
stores.
FINANCIAL INFORMATION
Financials
are only partially disclosed.
The sales
volume for Dec/2007 fiscal term amounted to Yen 8,600 million, a 13% rise from
Yen 7,600 million in the previous term.
Ready-made sushi (frozen) and fishes for sushi sharply rose. Vegetables and fruits also rose. The net profit was posted at Yen 40 million,
compared with Yen 39 million a year ago.
For
the current term ending Dec 2008 the net profit is projected at Yen 43 million,
on an 11% rise in turnover, to Yen 9,500 million. Price hikes in all areas will increases sales amount in Yen
terms.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 166.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan
1973
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 20,000
shares
Sum: Yen
10 million
Major shareholders (%)
Tomoko Yoneda (35), Tachio
Yoneda (20), other
No. of shareholders
5
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports &
wholesales seafood, vegetables, cut flowers & foliage, fruit tea plants,
ornamentals, seeds, automobiles and
miscellaneous products; exports marine products (--100%)
Clients: [Food
markets, wholesalers] Osaka Uoichiba, Daisui, Daito Gyorui, Daika Osaka,
Tsukiji Central Market, Nagasaki Uoichiba, Nagoya Seika,
Kyoto Seika, other.
No. of accounts: 600
Domestic areas of activities: Nationwide
Suppliers: [Growers,
fisheries, wholesalers] Imports from Norway (15%), N America (10%), Chile
(10%), China (5%), other from Australia, new Zealand, Thailand, Taiwan, Korea,
etc.
Payment record: Regular
Location: Business
area in Kyoto. Office premises at the
caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Kyoto-Chuo)
Bank of Kyoto (H/O)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/12/2008 |
31/12/2007 |
31/12/2006 |
31/12/2005 |
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Annual
Sales |
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9,500 |
8,600 |
7,600 |
6,300 |
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Recur.
Profit |
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Net
Profit |
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43 |
40 |
39 |
37 |
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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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396 |
356 |
317 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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250.00 |
200.00 |
150.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
10.47 |
13.16 |
20.63 |
5.00 |
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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 |
0.45 |
0.47 |
0.51 |
0.59 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2008 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. |
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%)