MIRA
INFORM REPORT
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Report Date : |
24.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
TOYAMA KAIGAI BOEKI SHIPPING CO LTD |
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Registered Office : |
3034-5 Takagi Toyama 930-0106 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
April 2000 |
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Com. Reg. No.: |
(Toyama) 005857 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Shipping (cars) |
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 45.6 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
TOYAMA KAIGAI
BOEKI SHIPPING CO LTD
REGD NAME: YK Toyama Kaigai Boeki Shipping (Kaigai
means overseas & Boeki is trading)
MAIN OFFICE: 3034-5 Takagi Toyama 930-0106 JAPAN
Tel:
076-434-9999 Fax: 076-434-9911
*
Registered at 235-7 Kitashiro Toyama, the address of the pres, T Constantin
URL: N/A
ACTIVITIES
Shipping (cars)
BRANCHES
Russia
OFFICER(S)
T CONSTANTIN, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,500 M*
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND STEADY WORTH Yen 27 M*
STARTED 2007 EMPLOYES 1
*
Figures are of the parent
COMMENT
SHIPPING COMPANY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 45.6 MILLION, 30 DAYS NORMAL TERMS, PROVIDED GUARANTEES GIVEN FROM THE PARENT.
HIGHLIGHTS
The subject company was established on the basis of a division separated from Toyama Kaigai Boeki Co Ltd, at the caption address (See REGISTRATION), in order to engage in the shipping business. This is a shipping company to export used cars handled by the parent, virtually a shipping division of the parent. Cars are exported mainly to Russia, where the firm has a branch office. The firm is registered at the pres’ address but business operations are conducted at the address given. All management & operations are wholly integrated with the parent, with staff, phones, etc shared.
FINANCIAL INFORMATION
Financials are consolidated by the parent and independent financials are not disclosed. The following figures indicate those of the parent
For the term that ended Mar 2008 the net profit was projected at Yen 10 million, on a 4% rise in turnover, to Yen 2,600 million. Rising costs of used cars ate into profits.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 45.6 million, on 30 days normal terms, provided guarantees provided from the parent.
REGISTRATION
Date Registered: Apr 2000
Regd No: (Toyama) 005857
Legal Status: Private Limited Company (Yugen Kaisha)
Regd Capital: 3 million
Major shareholders (%)
Toyama Kaigai Boeki Co Ltd*(100)
* Specialized trader of exporting used cars to Russia, using Internet auction channel, founded 2000, capital Yen 3 million, turnover Yen 2,500 million, net profit yen 10 million, net worth Yen 27 million, employees 7, pres T Constantin concurrently
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Shipping company of used cars mainly, wholly owned by Toyama Kaigai Boeki YK (100%)
Cars are exported to Russia.
Clients
[Mfrs, wholesalers] Toyama Kaigai Boeki YK, the parent.
No. of accounts: 1
Domestic areas of activities: Nationwide (Internet)
Suppliers
[Mfrs, wholesalers] Toyama Kaigai Boeki YK
Payment record: Regular
Location: Business area in Toyama. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Toyama Bank (Okuda)
Relations: Satisfactory
FINANCIALS
OF THE PARENT, TOYAMA KAIGAI BOEKI YK
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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2,600 |
2,500 |
2,500 |
1,300 |
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Recur.
Profit |
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Net
Profit |
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10 |
10 |
10 |
5 |
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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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27 |
17 |
7 |
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Capital,
Paid-Up |
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3 |
3 |
3 |
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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 |
4.00 |
0.00 |
92.31 |
160.00 |
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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 |
0.38 |
0.40 |
0.40 |
0.38 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2008 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%)