MIRA INFORM REPORT
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Report Date : |
21.04.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
TOKAN SHOJI CO LTD |
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Formerly Known As : |
SAIWAI SHOJI CO
LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
February 1953 |
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Com. Reg. No.: |
0107-01-026158 (Tokyo-Shinagawaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale of polyester products, fuel oil |
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No. of Employees
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59 |
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 995.7 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
TOKAN SHOJI CO LTD
(Renamed in Jan/2012 from SAIWAI SHOJI CO LTD)
Tokan Shoji KK
Tel:
03-4514-2200
URL: http://www.saiwai-shoji.co.jp
E-mail: (thru the URL)
Wholesale of
polyester products, fuel oil
YOSHIHIKO
NISHIMURA, PRES
Yoshihiro Sato,
s/mgn dir Hirofumi
Minamizaki, mgn dir
Atsushi Akasaka,
dir Osamu
Narusawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 23,255 M
PAYMENTS No Complaints CAPITAL Yen
90 M
TREND SLOW WORTH Yen
3,530 M
STARTED 1953 EMPLOYES 59
TRADING FIRM OWNED
BY TOYO SEIKAN KAISHA LTD
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$150,000 / O/A 180 DAYS
MAX CREDIT LIMIT:
YEN 995.7 MILLION, 30 DAYS NORMAL TERMS
This is a trading firm owned by Toyo Seikan Kaisha Ltd, specializing in import, export and, wholesale of polyester products, fuel oil, other. Also operates a gas station. Handling items are wide: cement, fuel oil, other. The firm renamed as captioned in Jan 2012 from Saiwai Shoji Co Ltd.
The sales volume for Mar/2011 fiscal term amounted to Yen 23,255 million, an almost similar amount in the previous term. The operations plunged into the red to post Yen 3 million recurring loss and Yen 8 million net losses, respectively, compared with Yen 43 million recurring profit and Yen 126 million net losses, respectively, a year ago.
For the term just ended Mar 2012 the recurring profit was projected at Yen 40 million and the net profit at Yen 40 million, respectively, on a 3% rise in turnover, to Yen 24,000 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 995.7 million, on 30 days normal terms. The proposed amount for 180 days terms is considered well within the firm’s financial capacities.
Date Registered: Feb
1953
Regd No.:
0107-01-026158 (Tokyo-Shinagawaku)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 131,300 shares
Issued: 131,300 shares
Sum: Yen 90 million
Major shareholders (%): Toyo Seikan
Kaisha Ltd* (90), Toyo Kohan (10)
No.
of shareholders: 2
*.. Top-ranked mfr of beverage/food cans & PET bottles, founded 1947, listed Tokyo, Osaka S/E’s, capital Yen 11,094 million, turnover Yen 706,502 million, operating profit Yen 24,970 million, recurring profit Yen 27,520 million, net loss Yen 4,383 million, total assets Yen 863,957 million, net worth Yen 613,619 million, employees 17,313, pres Shunji Kaneko
Consolidated Financials are attached (See SUPPLEMENT)
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales polyester products, surface-treated steels, industrial equipment; operates gas station, other (--100%)
Clients: [Mfrs, wholesalers] Toyo Seikan (60%), Toyo Kohan, Toyo Glass, Toyo Aureole, Asia Packing Ind, Toyo Aerosol Ind, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers [Mfrs, wholesalers] Toyo Kohan, Cosmo Oil, JFE Steel, Toyo Seikan, Hanwa Corp, JFE Steel, Nippon Steel, other
Payment record: No Complaints
Location:
Business area in
Bank
References:
SMBC (Hibiya)
MUFG
(Toranomon-Chuo)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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24,000 |
23,255 |
23,090 |
45,664 |
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Recur.
Profit |
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40 |
-3 |
43 |
164 |
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Net
Profit |
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40 |
-8 |
-126 |
86 |
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Total
Assets |
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6,830 |
6,774 |
11,927 |
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Current
Assets |
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5,974 |
5,899 |
11,128 |
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Current
Liabs |
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3,118 |
3,044 |
8,068 |
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Net
Worth |
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3,530 |
3,549 |
3,693 |
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Capital,
Paid-Up |
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90 |
90 |
90 |
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Div.(Total
in Million ¥) |
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13,130 |
13,130 |
13,130 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.20 |
0.71 |
-49.44 |
7.13 |
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Current Ratio |
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.. |
191.60 |
193.79 |
137.93 |
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N.Worth Ratio |
.. |
51.68 |
52.39 |
30.96 |
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R.Profit/Sales |
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0.17 |
-0.01 |
0.19 |
0.36 |
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N.Profit/Sales |
0.17 |
-0.03 |
-0.55 |
0.19 |
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Return On Equity |
.. |
-0.23 |
-3.55 |
2.33 |
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Notes: Forecast (or estimated) figures for the
31/03/2012 fiscal term
CONSOLIDATED FINANCIALS OF THE PARENT, TOYO SEIKAN
KAISHA LTD
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2011 |
31/03/2010 |
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INCOME STATEMENT |
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Annual Sales |
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706,502 |
690,353 |
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Cost of Sales |
608,932 |
597,226 |
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GROSS PROFIT |
97,569 |
93,126 |
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Selling & Adm Costs |
72,599 |
76,781 |
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OPERATING PROFIT |
24,970 |
16,345 |
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Non-Operating P/L |
2,550 |
2,709 |
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RECURRING PROFIT |
27,520 |
19,054 |
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NET PROFIT |
-4,383 |
8,318 |
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BALANCE SHEET |
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Cash |
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152,762 |
135,479 |
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Receivables |
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194,632 |
198,894 |
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Inventory |
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94,412 |
92,411 |
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Securities, Marketable |
2,000 |
2,000 |
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Other Current Assets |
16,852 |
16,921 |
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TOTAL CURRENT ASSETS |
460,658 |
445,705 |
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Property & Equipment |
286,186 |
279,887 |
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Intangibles |
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3,632 |
4,298 |
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Investments, Other Fixed Assets |
113,481 |
126,903 |
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TOTAL ASSETS |
863,957 |
856,793 |
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Payables |
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74,765 |
77,018 |
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Short-Term Bank Loans |
18,222 |
19,351 |
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Other Current Liabs |
68,897 |
54,720 |
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TOTAL CURRENT LIABS |
161,884 |
151,089 |
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Debentures |
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5,000 |
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Long-Term Bank Loans |
18,024 |
239 |
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Reserve for Retirement Allw |
52,760 |
53,329 |
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Other Debts |
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17,669 |
19,166 |
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TOTAL LIABILITIES |
250,337 |
228,823 |
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MINORITY INTERESTS |
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Common
stock |
11,094 |
11,094 |
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Additional
paid-in capital |
349 |
349 |
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Retained
earnings |
553,664 |
559,683 |
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Evaluation
p/l on investments/securities |
17,272 |
21,708 |
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Others |
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56,005 |
53,758 |
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Treasury
stock, at cost |
(24,765) |
(18,623) |
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TOTAL S/HOLDERS` EQUITY |
613,619 |
627,969 |
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TOTAL EQUITIES |
863,957 |
856,793 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2011 |
31/03/2010 |
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Cash Flows
from Operating Activities |
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61,684 |
66,136 |
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Cash
Flows from Investment Activities |
-54,672 |
-56,120 |
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Cash
Flows from Financing Activities |
7,692 |
-4,183 |
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Cash,
Bank Deposits at the Term End |
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150,492 |
134,964 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
613,619 |
627,969 |
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Current
Ratio (%) |
284.56 |
295.00 |
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Net
Worth Ratio (%) |
71.02 |
73.29 |
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Recurring
Profit Ratio (%) |
3.90 |
2.76 |
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Net
Profit Ratio (%) |
-0.62 |
1.20 |
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Return
On Equity (%) |
-0.71 |
1.32 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.99 |
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1 |
Rs.83.54 |
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Euro |
1 |
Rs.63.40 |
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.