MIRA
INFORM REPORT
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Report Date : |
16.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
UYENO TRANSTECH CO LTD |
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Registered Office : |
Daiba Frontier Bldg, 2-3-2 Daiba Minatoku Tokyo 135-8074 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
April 1984 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Petroleum and Petrochemical
Tanker Operator, with Associated Services. |
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 1,088.5 million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
UYENO TRANSTECH CO LTD
REGD NAME: Uyeno Transtech KK
MAIN OFFICE: Daiba Frontier Bldg,
2-3-2 Daiba Minatoku Tokyo 135-8074 JAPAN
Tel:
03-5500-3115 Fax: 03-5500-3163
*.. Registered and Head Quarters at: Daiichi Uyeno Bldg, 46 Yamashitacho Nakaku Yokohama 231-0032; Tel: 045-671-7535
URL: http://www.uyeno-group.co.jp
E-Mail address: info@uyeno-group.co.jp
ACTIVITIES
Petroleum & petrochemical
tanker operator, with associated services.
BRANCHES
Tokyo, Yokohama, Kawasaki, Nagoya,
Osaka, Mizushima; Singapore
OVERSEAS
SU Navigation Pte Ltd, Oxalis
Shipping Pte Ltd (--Singapore); Uyeno Hana Transia SA (Panama); Transnational
Uyeno Maritime Inc (Philippines); (--JV subsidiaries)
OFFICERS
Yutaka Uyeno, honorary ch
Takashi Uyeno, ch
Makoto Uyeno, v ch
ZEN UYENO, PRES
Gaku Yanagawa, dir
Haruyuki Niimi, dir
Yen Amount
In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 56,514 M
PAYMENTS REGULAR CAPITAL Yen 480 M
TREND STEADY WORTH Yen 2,821 M
STARTED 1984 EMPLOYES 270
COMMENT
SHIP OPERATOR SPECIALIZING IN
PETROLEUM AND CHEMICALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 1,088.5 MILLION, 30 DAYS
NORMAL TERMS. .
HIGHLIGHTS
The subject company was
established originally in 1869 by Kinjiro Uyeno in Yokohama as a shipping company carrying oil & products,
on his account. Incorporated in 1984,
the firm has been succeeded by his
descendants. Takashi is the 5th
generation master. This is a ship
operator, having two divisions: Transport Division & Sales Division. Transport Division is divided into: marine transport and inland
transport. Owns a total of 100 chemical
& oil products tankers, total
130,000 G/tons. Chemical tankers (two
ships of 6,500 DWT) trade between Japan, Korea, China and Taiwan. Owns 1,500 tanker trucks, operated by Japan
Oil Network, which also operates 9 oil storage terminals nationwide, receiving,
storing and shipping petroleum products.
In Nov 2004, founded a JV firm with Shokuyu Tanker Co, tanker operator,
Tokyo, SU Navigation Pte Ltd in Singapore, where the JV operates 4 chemical
tankers of each 8,500 DWT, trading
within the S/E Asia and Pacific East regions.
Also in Sept 2005, founded Uyeno Hana Transasia SA in Panama, jointly
with Hana Marine, Korea. The firm also offers
such businesses as agency,
customs clearance, storage, insurance, petroleum sales, bunker supply, oil
terminal management, etc.
FINANCIAL INFORMATION
The sales volume for Mar/2007
fiscal term amounted to Yen 56,514 million, a 2% up from Yen 55,443 million in
the previous term. Shipping demand for
oils/chemicals rose steeply within the S/E Asia region, including China. The recurring profit was posted at Yen 774
million and the net profit at Yen 384 million, respectively, compared with Yen
768 million recurring profit and Yen 377 million net profit, respectively, a
year ago.
For the term ended Mar 2008 the
recurring profit was projected at Yen 780 million and net profit at Yen 390
million, respectively, on a 3% rise in turnover, to Yen 58,000 million. Shipping demand continued rising steadily.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,088.5
million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1984
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 38,400 shares
Issued: 9,600 shares
Sum: Yen 480 million
Major shareholders (%)
Uyeno Kosan KK*(100)
*.. Holding Company owned by the
Uyeno family
Nothing detrimental is known as to
the commercial morality of executives.
OPERATION
Activities: Transportation company
specializing in marine transport (63%), land transport (37%), offering such services as; petroleum & petrochemical
transport, inland truck transport, ship agency, petroleum sales, ship bunker
supply, oil terminal operation & management, customs clearance,
storage/warehousing, marine disaster prevention, etc.
Clients
[Oil refineries, wholesalers, cargo owners] Itochu Corp, Sumitomo
Corp, Marubeni Corp, Shell Chemicals Japan, Showa Shell Sekiyu, Mitsubishi Corp,
Tsurumi Sun Marine, Japan Petroleum Exploration Co, Mitsubishi Chemical
Logistics, Nippon Steel Chemical, ExxonMobile, Nippon Petrochemicals,
other.
No. of accounts
800
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers, oil
refineries] Mitsubishi Corp, Tsurumi Sun Marine, Higashinippon Uyeno Yuso,
Nishinippon Uyeno Yuso, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References
Mizuho Corporate Bank (H/O)
Mizuho Bank (Yokohama)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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58,000 |
56,514 |
55,443 |
52,791 |
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Recur.
Profit |
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780 |
774 |
768 |
432 |
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Net
Profit |
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390 |
384 |
377 |
303 |
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Total
Assets |
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11,628 |
12,260 |
11,913 |
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Current
Assets |
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8,443 |
9,093 |
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Current
Liabs |
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6,738 |
8,145 |
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Net
Worth |
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2,821 |
2,464 |
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Capital,
Paid-Up |
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480 |
480 |
480 |
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Div.P.Share(¥) |
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5000.00 |
38.00 |
30.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.63 |
1.93 |
5.02 |
-1.38 |
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Current Ratio |
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.. |
125.30 |
111.64 |
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N.Worth Ratio |
.. |
24.26 |
20.10 |
0.00 |
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R.Profit/Sales |
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1.34 |
1.37 |
1.39 |
0.82 |
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N.Profit/Sales |
0.67 |
0.68 |
0.68 |
0.57 |
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Return On Equity |
.. |
13.61 |
15.30 |
.. |
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Note: Forecast (or estimated) 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%)