MIRA INFORM REPORT

 

 

Report Date :

01.12.2011

 

IDENTIFICATION DETAILS

 

Name :

UYENO TRANSTECH CO LTD

 

 

Registered Office :

Daiba Frontier Bldg, 2-3-2 Daiba Minatoku Tokyo 135-8074

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

April 1984

 

 

Com. Reg. No.:

(Yokohama-Nakaku) 025466

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Petroleum & petrochemical tanker operator, with associated services.

 

 

No. of Employees :

185

 

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 1464.2 Million

Status :

Satisfactory

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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 and 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, PRES

Zen Uyeno, v ch                         Etsuo Sawaki, v pres

Makoto Uyeno, dir                                  Masahiro Nomura, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 29,761 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 480 M

TREND             SLOW                          WORTH            Yen 1,447 M

STARTED                     1984                             EMPLOYES      185

 

 

COMMENT    

 

SHIP OPERATOR SPECIALIZING IN PETROLEUM AND CHEMICALS.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY

BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 1464.2 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 and operates a total of 74 chemical & oil products tankers: 7 ocean-going trade and 74 coastal trade.  Ocean-going chemical tankers are operated at its Singapore Branch/subsidiary, trading between Japan, Korea, China and Taiwan.  Has 20% market share in the coastal trading.  The firm also offers such businesses as agency, customs clearance, storage, insurance, petroleum sales, bunker supply, oil terminal management, etc.  In Apr 2009, separated Inland Transport Division as independent entity and withdrew from inland transport business.

 

 

FINANCIAL INFORMATION

           

            The sales volume for Mar/2011 fiscal term amounted to Yen 29,761 million, a 6% down from Yen 31,802 million in the previous term, as affected by the global economic downturn, particularly in the first half of the term.  Shipping demand for oils/chemicals dropped.  The high Yen hurt sales & profits in Yen terms.  The recurring profit was posted at Yen 628 million, while resulted in Yen 1,339 million net losses for the term, compared with Yen 228 million recurring profit and Yen 54 million net profit, respectively, a year ago. 

 

For the current tem ending Mar 2012 the recurring profit is projected at Yen 650 million and the net profit at Yen 100 million, respectively, on a 4% rise in turnover, to Yen 31,000 million.  High Yen may erode earnings & profits in Yen terms.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 1,560.1 million, on 30 days normal terms. 

 

 

 

 

 

 

 

 

REGISTRATION

 

Date Registered:  Apr 1984

Regd No.:            (Yokohama-Nakaku) 025466

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, offering such services as; petroleum & petrochemical transport, ship agency, petroleum sales, ship bunker supply, oil terminal operation & management, customs clearance, storage/warehousing, marine disaster prevention, etc (--100%).

 

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, JX Nippon Oil & Energy Corp, 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)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

31,000

29,761

31,802

57,380

Recur. Profit

　

650

628

228

731

Net Profit

　

100

-1,339

54

598

Total Assets

　

　

7,418

6,925

9,776

Current Assets

　

　

5,467

5,225

7,498

Current Liabs

　

　

5,483

3,531

5,416

Net Worth

　

　

1,447

2,796

3,590

Capital, Paid-Up

　

　

480

480

480

Div.Total (¥)

　

　

0.00

0.00

93

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.16

-6.42

-44.58

-2.05

    Current Ratio

 

..

99.71

147.98

138.44

    N.Worth Ratio

..

19.51

40.38

36.72

    R.Profit/Sales

 

2.10

2.11

0.72

1.27

    N.Profit/Sales

0.32

-4.50

0.17

1.04

    Return On Equity

..

-92.54

1.93

16.66

 

Note: Forecast (or estimated) for the 31/03/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.16

UK Pound

1

Rs.81.29

Euro

1

Rs.69.47

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.