MIRA INFORM REPORT

 

 

Report Date :           

27.04.2011

 

IDENTIFICATION DETAILS

 

Name :

KOYO TRADING CO LTD

 

 

Registered Office :

Kitagawa #5 Bldg 3F, 2-81 Hanasakicho Nakaku Yokohama 231-0083

 

 

Country :

Japan

 

 

Financials (as on) :

31.07.2010

 

 

Date of Incorporation :

November 1996

 

 

Com. Reg. No.:

(Yokohama-Nakaku) 031460

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Ship agency of Fujian Shipping Company (FUSCO) (China)

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 1.2 Million

Status :

Moderate

Payment Behaviour :

Regular

Litigation :

----

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

KOYO TRADING CO LTD

 

 

REGD NAME

 

KK Koyo Tsusho

 

 

MAIN OFFICE

 

Kitagawa #5 Bldg 3F, 2-81 Hanasakicho Nakaku Yokohama 231-0083 JAPAN

Tel: 045-262-8338     Fax: 045-262-8340

                       

URL:                 N/A

E-mail:              cah4670@pop.14.odn.ne.jp

 

 

ACTIVITIES  

 

Ship agency of Fujian Shipping Company (FUSCO) (China)

 

 

BRANCHES

 

Nil

 

 

OFFICERS

 

AKIRA NAKASONE, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    R/WEAK                       A/SALES          Yen 60 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 10 M

TREND             SLOW                          WORTH            Yen 60 M

STARTED                     1996                             EMPLOYES      6

 

COMMENT    

 

SHIP AGENCY

 

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERARATE BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 1.2 MILLION, 30 DAYS NORMAL TERMS.  .

 

 

HIGHLIGHTS

           

The subject company was established by Akira Nakasone in order to make most of his previous experience in the shipping business.  This is a ship agent for Fujian Shipping Company (FUSCO), China, handling its container ships between Japan (Yokohama) & China.  The subject also imports and wholesales Chinese foodstuffs (prepared/cooked) for commercial use. 

 

 

FINANCIAL INFORMATION

           

Financials are only partially disclosed in rounded-off numbers.

 

The revenues for July/2010 fiscal term amounted to Yen 60 million, a 9% up from Yen 55 million in the previous term.  Shipment increased between China & Japan.  The net profit was posted at Yen 5 million, compared with Yen 4 million a year ago.

 

For the current term ending July 2011 the net profit is projected at Yen 5 million, on an 8% rise in turnover, to Yen 65 million.  .

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 1.2 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:  Nov 1996

Regd No.:         (Yokohama-Nakaku) 031460

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                200 shares

Sum:                   Yen 10 million

Major shareholders (%): Akira Nakasone (100)

           

Nothing detrimental is known as to his commercial morality.

 

 

 

OPERATION

 

Activities: Ship agency for Fujian Shipping Company of China (FUSCO); also imports Chinese foodstuffs for commercial use (--100%).

 

Clients: [Ship operators, ship agents, foodstuff dealers] Nippon Express, Kamigumi Co, Sankyu Inc, Keihin Koun, Daiichi Transportation & Terminal Co, other. 

            No. of accounts: 30

            Domestic areas of activities: Nationwide

 

Suppliers: [Ship operator, food mfrs] Agent for Fujian Shipping Company of China (FUSCO).  Imports foodstuffs from China.

 

Payment record: Regular

 

Location: Business area in Yokohama.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

Yokohama Shinkin Bank (Yokohama-Nishiguchi)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/07/2011

31/07/2010

31/07/2009

31/07/2008

Annual Sales

　

65

60

55

55

Recur. Profit

　

　

　

　

　

Net Profit

　

5

5

4

5

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

60

55

52

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

8.33

9.09

0.00

-98.23

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

7.69

8.33

7.27

9.09

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) for the 31/07/2011 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.59

UK Pound

1

Rs.73.44

Euro

1

Rs.64.81

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

 

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