MIRA
INFORM REPORT
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Report Date : |
08.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ONTO SHIPPING INTERNATIONAL INC |
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Registered Office : |
2-8 Kaigandori Nakaku Yokohama 231-0002 |
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Country : |
Japan |
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Date of Incorporation : |
April 2001 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Ship Agency Owned by Onto Shipping (China) |
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 17.5 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
ONTO SHIPPING INTERNATIONAL INC
REGD NAME: Onto Kokusai KK
MAIN OFFICE: 2-8 Kaigandori Nakaku
Yokohama 231-0002JAPAN
Tel:
045-212-5708 Fax: 045-671-0038
E-Mail address:webmaster@onto.cn
ACTIVITIES
Ship agency owned by Onto Shipping (China)
BRANCHES
Tokyo, Yokohama, Nagoya, Kobe, Osaka, Moji, Hakata
(--Container Yards)
OFFICER(S)
FUMIMINE HARA, PRES
Fuminami Hara, dir
Akira Igarashi, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,000 M*
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 94 M
STARTED 2001 EMPLOYES 5
*
Estimated only
COMMENT
SHIP AGENCY OWNED BY ONTO SHIPPING, CHINA.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 17.5 MILLION, 30 DAYS, RECOMMENDING SECURED TERMS ON NEW
TRANSACTIONS
HIGHLIGHTS
The subject company was established as ship agency in Japan for Onto Shipping, China. The operations are handled by Mitsui Soko Co Ltd, the largest warehouse operator in terms of sales, Japan, as sole husbanding agent. The firm operates 6 container ships plying Japan/China weekly services. Cargo booking, operations, cargo handling, etc are all handled by Mitsui Soko Co Ltd
FINANCIAL INFORMATION
The firm does not disclose financials as they are all consolidated by Chinese parent. The following figures are all estimated.
The commission revenues for Mar/2008 fiscal term is estimated amounted to Yen 1,000 million, a similar amount in the previous term. The net profit is believed posted at Yen 20 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 17.5 million, on 30 days normal terms. We recommend secured terms on new transactions as financials are not disclosed.
REGISTRATION
Date Registered: Apr 2001
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 200 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%)
Onto Shipping, China (100)
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Ship agency, operating 6 container ships, plying Japan/China (--100%).
Operations are handled by Mitsui Soko Co Ltd as sole husbanding agent in Japan.
Clients
Mfrs, cargo owners, wholesalers, others
No. of accounts
Unavailable
Domestic areas of activities
Nationwide
Suppliers
Ship lines, stevedoring, warehousing, ship chandlers, ship agency, other
Payment record
Regular
Location
Business area in Yokohama. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Bank of Yokohama (Kannai)
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%)