MIRA
INFORM REPORT
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Report Date : |
16.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
JAPAN CHINA SHIPPING CO LTD |
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Registered Office : |
Yoko
Tsukiji Bldg 7F, 2-1-17 Tsukiji Chuoku Tokyo 104-0045 |
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Country : |
Japan |
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Date of Incorporation : |
April 1993 |
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Com. Reg. No.: |
(Tokyo) 053268 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Shipping, Ship Agency, Ship Chartering, Multi-Transport of Sea,
Land and Air |
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
JAPAN CHINA SHIPPING CO LTD
REGD NAME: Nicchu Kaiun KK
MAIN OFFICE: Yoko Tsukiji
Bldg 7F, 2-1-17 Tsukiji Chuoku Tokyo 104-0045 JAPAN
Tel:
03-3248-1055 Fax: 03-3248-1057
URL: http://www.jc-shipping.com/
E-Mail address: ship@jc-shipping.com
ACTIVITIES
Shipping, ship agency, ship chartering, multi-transport of
sea, land & air
BRANCHES
Meguro, Ginza (--restaurants)
OFFICER(S)
ITSUTOSHI TOU, PRES (Chinese resident)
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,000 M*
PAYMENTS REGULAR CAPITAL Yen 40 M
TREND STEADY WORTH Yen
152 M*
STARTED 1993 EMPLOYES 30
*
Estimated figures only
COMMENT
SHIPPING AGENCY.
FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 17.5 MILLION, 30 DAYS, ON ESTIMATED REVENUES ONLY. ALL CREDITS ON NEW TRANSACTIONS ARE RECOMMENDED ON SECURED TERMS.
HIGHLIGHTS
The subject company was established by Ling Tang as a ship broker in Japan. A ship agency offering ship charter, ship operation, ship sales & purchase, international multimodal transport for sea, land and air. Major portion of the business is for Chinese & Korean vessels calling Japan ports. Major cargoes are steel & steel products. In Apr 2003, founded Centrans International Marine Co Ltd and transferred container operations to this new firm. Operates two Chinese restaurants, too. JFE Steel is one of the major clients.
FINANCIAL INFORMATION
Financials are not disclosed. The figures given here are all estimated.
The sales volume for Mar/2008 fiscal term is estimated amounted to Yen 1,000 million, a 5% up from Yen 950 million in the previous term. The net profit is believed posted at Yen 17 million.
For the current term ending Mar 2009 the net profit is projected at Yen 20 million, on a 5% rise in turnover, to Yen 1,050 million. Shipping market continues active and rising.
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, based on the estimated turnover.
Financials are not at all disclosed and we recommend any credits on new transactions to be on fully secured terms.
REGISTRATION
Date Registered: Apr 1993
Regd No: (Tokyo) 053268
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 80,000 shares
Sum: Yen 40 million
Major shareholders (%)
Tang Ling, Itsutoshi Tou & others (breakdown unavailable)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Shipping agency; imports Chinese foodstuffs for restaurant use (100%).
(Operations): Marine transport, owning/operating 5 bulk carriers, plying between Japan/China/Korea/S E Asia; ship chartering, ship agency; multi-transport of sea, land & air; two Chinese restaurants operation.
(Handling cargoes): steel, steel products, machinery, scrap iron, feeds, cokes, chemical fertilizer, other
Clients
[Cargo owners, mfrs] JFE Logistics, JFE Shoji Trade, KTT Shipping, TRI-NET Co,
Sumitomo Corp, Hanwa Corp, Nippon Express, Tsurumaru Shipping Co, Tsukiboshi Kaiun Co, other.
No. of accounts
300
Domestic areas of activities
Nationwide
Suppliers
[Ship lines, ship forwarders, stevedores] Shandong Yantai Int’l Marine Shipping, Vasteast Shipping Enterprise, Dalian Jinshun Forwarding, Traswind Shipping Service, Jinlo Shipping, Wooyang Shipping, Sunil Shipping, Hyun Se Shipping, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Mizuho Bank (Tsukiji)
SMBC (Tsukiji)
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%)