MIRA INFORM REPORT

 

 

Report Date :

18.08.2012

 

IDENTIFICATION DETAILS

 

Name :

TRUTH LOGISTICS CORPORATION

 

 

Registered Office :

Gakunan Omori Bldg 3F, 6-19-10 Minami-Ohi Shinagawaku Tokyo 140-0013 

 

 

Country :

Japan

 

 

Financials (as on) :

31.10.2011

 

 

Date of Incorporation :

November 2003

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Warehousing, NVOCC transportation for sea/air

 

 

No. of Employees :

10 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow

Litigation :

Clear

 

 

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

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

TRUTH LOGISTICS CORPORATION

 

 

REGD NAME

 

Truth Logistics KK

 

 

MAIN OFFICE

 

Gakunan Omori Bldg 3F, 6-19-10 Minami-Ohi Shinagawaku Tokyo 140-0013  JAPAN

Tel: 03-5764-1421      Fax: 03-5764-1428

 

URL:                             http://www.truth-logistics.co.jp

E-Mail address:                        Seiko.aoyama@truth-logistics.co.jp

 

 

ACTIVITIES

 

Warehousing, NVOCC transportation for sea/air

 

 

BRANCHES

 

Nil

 

 

OFFICERS

 

SEIKO AOYAMA, PRES

Ritsue Aoyama, dir

Shie Aoyama, dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES                    R/WEAK           A/SALES          Yen 1,071 M

PAYMENTS      SLOW              CAPITAL           Yen 10 M

TREND             UP                    WORTH                        Yen 22 M

STARTED                     2003                 EMPLOYES      10

 

 

COMMENT    

 

LOGISTICS COMPANY.

 

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

 

 

HIGHLIGHTS

           

The subject company was established by Seiko Aoyama in order to make most of his experience in the subject line of business.  This is a family-based logistic company offering warehousing, NVOCC transportation, sea/air transport cargo handling, other.  Clients include general trading houses, heavy machinery industries, other.

 

 

FINANCIAL INFORMATION

           

Financials are only partially disclosed as is the case with family-based companies.

 

The sales volume for Oct/2011 fiscal term amounted to Yen 1,071 million, a 34% up from Yen 800 million in the previous term.  The transportation market revived from the worst time in the previous period.  The net profit was posted at Yen 5 million, compared with Yen 2 million a year ago.

 

For the current term ending Oct 2012 the net profit is projected at Yen 5 million, on a 3% rise in turnover, to Yen 1,100 million.  Business is seen expanding steadily.

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. 

 

 

REGISTRATION

 

Date Registered:  Nov 2003

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                200 shares

Sum:                   Yen 10 million

Major shareholders (%): Seiko Aoyama (50), Ritsue Aoyama (50)

No. of shareholders: 2

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Logistic company offering: warehousing, NVOCC transportation, sea/air transport cargo handling, others (--100%)

 

Clients: [Mfrs, wholesalers] Marubeni Corp, Kawasaki Heavy Ind, Toyota Tsusho Corp, Daiwa Bussan Co, Toray Trading, other 

            No. of accounts: 300

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] OOCL Japan, Sankyu Inc, Shinyei Shipping Co, other

 

Payment record: Slow

 

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

 

Bank References:

SMBC (Omori)

Mizuho Bank (Omori)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

　

　

31/10/2012

31/10/2011

31/10/2010

31/10/2009

Annual Sales

　

1,100

1,071

800

799

Recur. Profit

　

　

　

　

　

Net Profit

　

5

5

2

7

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

22

17

15

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.71

33.88

0.13

-29.23

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.45

0.47

0.25

0.88

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/10/2012 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.87.55

Euro

1

Rs.68.85

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.