MIRA
INFORM REPORT
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Report Date : |
05.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
PAN WORLD LOGISTICS LTD |
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Registered Office : |
2-3-10 Hyogocho Hyogoku Kobe 652-0813 |
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Country : |
Japan |
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Date of Incorporation : |
Jun 2004 |
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Com. Reg. No.: |
1400-41-023604 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Ship agency; international freight forwarder |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 3 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
Name
PAN WORLD LOGISTICS LTD
REGD NAME
KK Hanwa Kokusai Butsuryu
MAIN OFFICE
2-3-10 Hyogocho Hyogoku Kobe 652-0813 JAPAN
Tel: 078-685-6938
Fax: 078-685-6584
URL: N/A
ACTIVITIES
Ship agency; international freight forwarder
BRANCHES
Nil
OFFICERS
AKIRA IGARASHI, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES UNDETD A/SALES Yen 200 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND UNDETD WORTH Yen 25 M
STARTED 2004 EMPLOYES 5
COMMENT
FREIGHT FORWARDER
AND SHIP AGENCY, FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 3 MILLION, 30 DAYS
TERMS, WE RECOMMEND-ING SECURED TERMS ON NE TRANSACTIONS.THIS IS BECAUSE THE
FINANCIALS ARE PROFESSED BY THE FIRM AND NOT VERIFIED BY OUTSIDE SOURCES.
HIGHLIGHTS
The subject company was established by Akira Igarashi as ship agent for Pan World Logistics Ltd, China. This is an international freight forwarder and ship agency, servicing as agent for the Chinese ship company. Originally started servicing for Pan World Logistics and later expanded business into other ship lines. Handles freight forwarding to/from China and Japan as major routes. Also serves as ship agent for vessels calling Japan.
FINANCIAL INFORMATION
Finances are not disclosed. We have collected the following figures directly from the firm’s treasurer. They are, however, not verified by outside sources.
The sales volume for May/2007 fiscal term amounted to Yen 200 million, doubled from Yen 100 million a year ago. Robust cargo movements between China & Japan boosted sales within one year term. The net profit was believed posted at Yen 10 million, but this again is not a confirmed figures.
For the current term ending May 2008 the net profit is projected at Yen 10 million, on a 10% rise in turnover, to Yen 220 million. Robust cargo movement continues.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements. Max credit limit is considered at Yen 3
million, on 30 days terms, based on the confessed financials from the
firm. We recommend secured terms on new
transactions.; No outside sources have data or information to verify these
figures.
REGISTRATION
Date Registered: Jun
2004
Regd Number: 1400-41-023604
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen
10 million
Major shareholders (%)
Akira Igarashi (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: International freight forwarder, as agent for Pan
World Logistics Ltd, China, and other ship lines, servicing between Japan &
China for freight transport; also ser-vicing as ship agent for the handling
vessels calling Japan ports (--100%).
Clients
Cargo owners, mfrs, wholesalers, ship agents, freight forwarders,
others
No. of accounts
Unavailable
Domestic areas of activities
Nationwide
Suppliers
Ship owners, ship operators, freight forwarders, stevedoring, ship
chandlers, other.
Payment record
Regular
Location
Business area in Kobe. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References
Resona Bank (Kobe)
Relations: Satisfactory
FINANCES: (In Million Yen)
NOT MADE AVAILABLE
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%)