MIRA INFORM REPORT

 

 

Report Date :           

23.02.2012

 

IDENTIFICATION DETAILS

 

Name :

HONMA SENPAKU CO LTD

 

 

Registered Office :

Tsukiji Bldg 5F, 3-9-10 Tsukiji Chuoku Tokyo 104-0045

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

March 1976

 

 

Com. Reg. No.:

0100-01-056843 (Tokyo-Chuoku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Ship owner & operator

 

 

No. of Employees :

06

 

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 10.5 Million

Status :

Small Company 

Payment Behaviour :

No Complaints

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

 

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

 

HONMA SENPAKU CO LTD

 

 

REGD NAME

 

Honma Sempaku KK

 

 

MAIN OFFICE

 

Tsukiji Bldg 5F, 3-9-10 Tsukiji Chuoku Tokyo 104-0045 JAPAN

Tel: 03-3544-8181      Fax: 03-3544-8187

                                               

URL:                 N/A

 

 

ACTIVITIES

 

Ship owner & operator

 

 

BRANCHES

 

Nil

 

 

OFFICERS

 

TADAAKI OOKUBO, PRES

Naosuke Honma, dir

Masahiro Watanabe, dir

                                                           

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 580 M

PAYMENTS                  No Complaints          CAPITAL           Yen 10 M

TREND             SLOW                          WORTH            Yen 109 M

STARTED                     1976                             EMPLOYES      6

 

 

COMMENT    

 

SHIP OWNER & OPERATOR.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 10.5 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Naosuke Honma in order to make most of his experience in the subject line of business.  Tadaaki is his son, who took the pres office in Apr 2008.  This is a ship owner & operator, owning 6 vessels of 49,948 DWT.  Ships are chartered out on a long term basis.

 

 

FINANCIAL INFORMATION

           

Financial are only partially disclosed.

 

The sales volume for Dec/2010 fiscal term amounted to Yen 580 million, a 22% down from Yen 744 million in the previous term.  Shipping market was down-pressed.  High Yen ate into earnings and profits in Yen terms.  The net profit was posted at Yen 1 million, compared with Yen 33 million a year ago.

 

For the term that ended Dec 2011 the net profit was projected at Yen 10 million, on a 3% rise in turnover, to Yen 600 million.  Final results are yet to be released. 

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 10.5 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Mar 1976

Regd No.:         0100-01-056843 (Tokyo-Chuoku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         80,000 shares

Issued:                20,000 shares

Sum:                   Yen 10 million

Major shareholders (%): Naosuke Honma (45), Yajima Kaiun (5), Tadaaki Honma (5)

No. of shareholders: 15

 

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

 

OPERATION

           

Activities: Ship owner & operator, operating 6 vessels of 49,948 DWT (100%).

 

Clients: [Ship owners/operators] MH Maritima, Kyokuyo Co, other

            No. of accounts: 5

            Domestic areas of activities: Centered in greater-Tokyo

 

Suppliers: [Mfrs, whip owners] MH Maritima, NYK Trading Corp, Shinken Bussan, Chugoku Marine Paints Co, other

 

Payment record: No Complaints

 

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

 

Bank References:

·         Jonan Shinkin Bank (Ginza)

·         SMBC (Tsukiji)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/12/2011

31/12/2010

31/12/2009

31/12/2008

Annual Sales

　

600

580

744

812

Recur. Profit

　

　

　

　

　

Net Profit

　

10

1

33

2

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

109

108

75

Capital, Paid-Up

　

　

10

10

10

Div.Ttl in million(¥)

　

　

4,000.00

4,000.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.45

-22.04

-8.37

2.53

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

1.67

0.17

4.44

0.25

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/12/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.25

UK Pound

1

Rs.76.75

Euro

1

Rs.65.16

 

 

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%)

 

 

 

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