MIRA INFORM REPORT
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Report Date : |
05.04.2012 |
IDENTIFICATION DETAILS
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Name : |
TSUNEISHI HOLDINGS CORPORATION |
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Registered Office : |
1083 Tsuneishi Numakumacho Fukuyama
Hiroshima-Pref 720-0396 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
April 1942 |
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Com. Reg. No.: |
2400-01-029372
(Hiroshima-Fukuyama) |
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Legal Form : |
Limited Company |
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Line of Business : |
Shipbuilding, ship
owning/operation, warehousing |
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No. of Employees
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25 |
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 1,162.9 Million |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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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 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Japan |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
TSUNEISHI HOLDINGS CORPORATION
Tsuneishi Holdings KK
1083 Tsuneishi
Numakumacho Fukuyama Hiroshima-Pref 720-0396 JAPAN
Tel:
084-987-1500
Fax: 084-987-2729
URL: www.tsuneishi.co.jp
E-mail: info@tsuneishi.co.jp
Shipbuilding,
ship owning/operation, warehousing
Tokyo,
Otaru, Kanazawa, Hiroshima
Xiamen,
Ningbo, Tianjin, Nanjing, Qingdao; (Subsidiaries): Shanghai Kambara Kisen
(China) Shipping Co Ltd;
Dalian
Kambara Kisen (China) Shipping
Co Ltd
YASUHARU
FUSHIMI, PRES Hirotatsu Kambara, v
pres
Hidetada Kambara, mgn dir Masafumi Watanabe, dir
Shinji Watatani, dir Tatsuhiko
Shimane, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 152,793 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND SLOW WORTH Yen
30,351 M
STARTED 1942 EMPLOYES 25
HOLDING
COMPANY OF SHIPBUILDING, SHIP OWNING & OPERATIONS,
WAREHOUSING OPERATIONS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 1,162.9 MILLION, 30 DAYS NORMAL TERMS
The subject company was established originally in 1942 by Katsutaro Kambara as a ship operator, on his account. Incorporated in 1944 as Kambara Kisen Kaisha Ltd. This is a ship owner & operator. In Jan 2007, merged 11 group firms to form newly a holding company, Tsuneishi Holdings Corporation. The holding firm has three core operation divisions (in-house division companies): shipbuilding (Tsuneishi Shipbuilding Company), shipping (Kambara Kisen Company), and support/others (Koshien Warehousing, other division companies). In Jan 2012, both Tsuneishi Shipbuilding Co and Kambara Kisen Co spun off from the Holding Company and became independent; thereby the subject became a pure holding company, to concentrate in office rental & management and business consultant of the group firms.
The sales volume for Dec/2010 fiscal term amounted to Yen 152,793 million, a 30% up from Yen 218,403 in the previous term. Operating fleet increased. The recurring profit was posted at Yen 23,095 million and the net profit at Yen 11,135 million, respectively, compared with Yen 9,336 million recurring profit and Yen 3,544 million net profit, respectively, a year ago. .
For the term that ended Dec 2011 the recurring profit was projected at Yen 23,500 million and the net profit at Yen 11,500 million, respectively, on a 3% rise in turnover, to Yen 157,000 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,162.9 million, on 30 days normal terms.
Date Registered: Apr 1942
Regd No.: 2400-01-029372 (Hiroshima-Fukuyama)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 80,000
shares
Issued: 20,000
shares
Sum: Yen
100 million
Major shareholders (%): Company’s Treasury Stock
(76.5)
No. of
shareholders: 7.
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Shipbuilding, ship owning/operating, warehousing, ship agency, ship management, others (--100%).
Clients: [Mfrs, wholesalers, shipping lines] Mitsui & Co, Sojitz Corp, Kanematsu Corp, Sumitomo Corp, Marubeni Corp, Mitsubishi Corp, Mitsui-OSK Lines, NYK Line, Itochu Corp, Taiheiyo Cement, Mitsubishi Chemical, Idemitsu Kosan, Mitsui Mining, Toyota Tsusho Corp, other.
No. of accounts: 600
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsui & Co, Kanematsu Corp, Sojitz Corp, Mitsui Engineering & Shipbuilding, Sumikin Bussan Corp, IHI, Kawasaki Heavy Ind, Marubeni Corp, other.
Payment record: Regular
Location: Business area in Fukuyama City, Hiroshima-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Chugoku
Bank (Fukuyama)
Hiroshima
Bank (Fukuyama)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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157,000 |
152,793 |
218,403 |
224,558 |
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Recur.
Profit |
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23,500 |
23,095 |
9,336 |
8,290 |
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Net
Profit |
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11,500 |
11,135 |
3,544 |
1,766 |
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Total
Assets |
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295,253 |
338,492 |
386,616 |
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Current
Assets |
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209,185 |
242,218 |
281,839 |
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Current
Liabs |
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223,394 |
255,771 |
300,689 |
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Net
Worth |
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30,351 |
29,754 |
31,061 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.75 |
-30.04 |
-2.74 |
-2.37 |
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Current Ratio |
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.. |
93.64 |
94.70 |
93.73 |
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N.Worth Ratio |
.. |
10.28 |
8.79 |
8.03 |
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R.Profit/Sales |
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14.97 |
15.12 |
4.27 |
3.69 |
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N.Profit/Sales |
7.32 |
7.29 |
1.62 |
0.79 |
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Return On Equity |
.. |
36.69 |
11.91 |
5.69 |
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Notes: Estimated figures for the 31/12/2011
Fiscal Term
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.05 |
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UK Pound |
1 |
Rs.81.09 |
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Euro |
1 |
Rs.67.39 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.