MIRA
INFORM REPORT
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Report Date : |
11.02.2012 |
IDENTIFICATION DETAILS
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Name : |
DAITOH TRADING CO LTD |
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Registered Office : |
Ichigaya Daitoh Bldg, 6-3 Ichigayadaimachi Shinjukuku Tokyo 162-0066 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Year of Establishment : |
August 1947 |
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Com. Reg. No.: |
(Tokyo-Shinjukuku) 062340 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of petroleum products, marine products; tanker operation |
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No. of Employees : |
80 |
RATING & COMMENTS
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MIRAs 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 840.3 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 |
Company name and address
DAITOH TRADING CO LTD
REGD NAME: Daitoh
Tsusho KK
MAIN OFFICE: Ichigaya
Daitoh Bldg, 6-3 Ichigayadaimachi Shinjukuku Tokyo 162-0066 JAPAN
Tel: o3-5919-6100
*..
Moved to the caption address in Jan 2012
URL: http://www.daitohnet.co.jp/
E-Mail address: info@daitohnet.co.jp
ACTIVITIES
Import, export, wholesale
of petroleum products, marine products; tanker operation
BRANCHES
Nil (Regional
operations are handled by 15 subsidiaries nationwide & 2 overseas:
New York & Singapore))
OFFICER(S)
YOSHIRO NAKABE,
PRES Sadao Kogure, mgn
dir
Masao Yoshii, dir Yoishiro Sakai, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 82,547 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 2,000 M
TREND SLOW WORTH Yen
5,601 M
STARTED 1947 EMPLOYES 80
COMMENT
TRADING HOUSE SPECIALIZING IN PETROLEUM OILS, MARINE PRODUCTS
AND TANKER OPERATION.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 840.3 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Taiyo
Fishery group originally as Azuma Boeki KK for exporting farm/fishery products
and non-life insurance broking. In 1953,
licensed as importer of petroleum products.
After merging several sister firms, renamed as captioned in 1963 to
focus on petroleum trading business. In
1988, launched crude oil/oil products transportation business by large-sized
tankers. In 1989, advanced into chemical
tanker operations (total 11 chemical tankers operated). This is a trading house having 5 divisions:
Petroleum Div, Materials Div, Shipping Div, Insurance Broking Div, and Real
Estate Div (See OPERATION for
details). The Petroleum Div accounts for
about 60% of total sales. Operates 15
subsidiaries domestically and two overseas: New York & Singapore. Domestic major clients are oil refiners both
on the supply and sales.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal
term amounted to Yen 82,547 million, a 23% up from Yen 67,357 million in the
previous term. Sales returned to the
normal level after having been substantially affected by the global economic
downturn in the previous term. The
growth is also attributed to the price hike of petroleum products. The recurring profit was posted at Yen 478
million and the net profit at Yen 285 million, respectively, compared with Yen
347 million recurring profit and Yen 186 million net profit, respectively, a
year ago.
For the current term ending Mar 2012 the recurring
profit is projected at Yen 475 million and the net profit at Yen 280 million,
respectively, on an almost similar turnover, at Yen 83,000 million. High Yen will eat into profits in Yen terms.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 840.3 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Aug
1947
Regd No.:
(Tokyo-Shinjukuku) 062340
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 49 million shares
Issued: 40 million shares
Sum: Yen 2,000 million
Major shareholders
(%): NA Holdings Co Ltd* (25.3), Yoshiro Nakabe (12.2), Ken
Nakabe (9.3), Kumiko Tsubakihara (8.0),
Takako Akusawa (7.3)
* Holding company owned by the Nakabe
family.
No. of shareholders: 38
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Trading house specializing in oils, marine
products and ship operation:
(Sales breakdown by divisions):
Petroleum
Div (60%): import, export, and wholesale of crude oil, gasoline, fuel oil, other petroleum products, including supply of
fuels/diesels/lubricating oils to ocean-going vessels, ship agency;
Ship Operation Div
(20%): operates crude oil tanker, liquid chemical stainless tankers, engaged in ocean-going & coastal
transportation, including supply of bunker fuels/victuals, etc to fishing boats
at sea, operating a supply boat Oriental Bluebird, business tie-up with Serromah Shipping BV, Rotterdam, Netherlands
in the area of chemical cargo marketing, booking, etc;
Materials Div
(10%): marine products (raw & frozen fish, processed sea foods), building
materials, Styrofoam products, paint,
lube oils for industrial machinery;
Insurance
Broking Div (5%): representing nations major life & non-life insurance firms;
Real
estate Div (5%): real estate/office building management, leasing, new building house
broking, others.
(The
breakdown percentages are estimated only and all about).
Clients: [Oil refiners,
wholesalers] JX Nippon Oil & Energy Corp, Taiyo Oil, Marubeni Energy,
Sojitz Energy, Hayashikane Oil, National Federation of Fisheries Coop Assn,
Kamei Corp, Itochu Enex, Showa Shell Sekiyu, Kokusai Oil & Chemical Co,
other.
No. of accounts:
800
Domestic areas of
activities: Nationwide
Suppliers: [Oil refiners,
wholesalers] JX Nippon Oil & Energy Corp, Showa Shell Sekiyu,
Marubeni Energy, Kamei Corp, Mitsubishi
Corp, Sojitz Energy, Kignus, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Corporate
Bank (H/O)
MUFG (H/O)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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83,000 |
82,547 |
67,357 |
105,007 |
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Recur.
Profit |
|
475 |
478 |
347 |
1,384 |
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Net
Profit |
|
280 |
285 |
186 |
-302 |
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Total
Assets |
|
|
44,751 |
50,688 |
49,608 |
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Current
Assets |
|
|
18,571 |
25,041 |
25,780 |
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Current
Liabs |
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|
20,911 |
29,115 |
24,777 |
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Net
Worth |
|
|
5,601 |
5,421 |
5,287 |
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Capital,
Paid-Up |
|
|
2,000 |
2,000 |
2,000 |
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Div.P.Share(₯) |
|
|
3.00 |
5.00 |
5.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.55 |
22.55 |
-35.85 |
-11.70 |
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Current Ratio |
|
.. |
88.81 |
86.01 |
104.05 |
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N.Worth Ratio |
.. |
12.52 |
10.69 |
10.66 |
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R.Profit/Sales |
|
0.57 |
0.58 |
0.52 |
1.32 |
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N.Profit/Sales |
0.34 |
0.35 |
0.28 |
-0.29 |
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Return On Equity |
.. |
5.09 |
3.43 |
-5.71 |
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Notes: Forecast
(or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.64 |
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|
1 |
Rs.78.35 |
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Euro |
1 |
Rs.65.79 |
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 SCs 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.