MIRA INFORM REPORT

 

 

Report Date :

27.06.2012

 

IDENTIFICATION DETAILS

 

Name :

KANSAI STEAMSHIP CO LTD

 

 

Registered Office :

Kobunacho Fuji Plaza Bldg 5F, 8-1 Nihombashi-Kobunacho Chuoku Tokyo

103-0024

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

December  1990

 

 

Legal Form :

Ship owner, operator

 

 

Line of Business :

Limited Company (Kabushiki Kaisha)

 

 

No. of Employees :

30

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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 – 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 and address

 

KANSAI STEAMSHIP CO LTD

REGD NAME:    KK Kansai Line

MAIN OFFICE:  Kobunacho Fuji Plaza Bldg 5F, 8-1 Nihombashi-Kobunacho Chuoku Tokyo

103-0024 JAPAN

Tel: 03-5651-5861     

 

URL:                 N/A

 

 

ACTIVITIES

 

Ship owner, operator

 

BRANCHES   

 

Nil

 

 

OFFICERS

 

HARUKI MURAYAMA, PRES

Susumu Arii, ch

Noboru Yoshinaka, s/mgn dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                             A/SALES          Yen 9,701 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 400 M

TREND UP                                WORTH            Yen 382 M

STARTED         1990                             EMPLOYES      30

 

 

COMMENT

^.

FINANCIAL SITUATION CONSIDERED ^FAIR AND GOOD FOR ^ORDINARY BUSINESS ENGAGEMENTS.

                       

                       

 

 

HIGHLIGHTS

           

            The subject company was established by Susumu Arii in order to make most of his experience in the subject line of business.  This is a ship owner and operator, operating car carriers, container ships, bulkers, other.  Chips are chartered to major shipping lines domestic & abroad. 

 

 

FINANCIAL INFORMATION

           

The sales volume for Dec/2011 fiscal term amounted to Yen 9,701 million, a 14% down from Yen 11,298 million in the previous term.  Shipping market was slow to recover.  Demand for car carriers declines.  The recurring profit was posted at Yen 270 million, while the bottom line resulted in net loss of Yen 398 million, respectively, compared with Yen 384 recurring loss and Yen 25 million net profit, respectively, a year ago.

 

            For the current term ending Dec 2012 the recurring profit is projected at Yen 300 million and the net profit at Yen 150 million, respectively, on a 5% rise in turnover, to Yen 10,200 million.  

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Dec 1990

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         32,000 shares

Issued:                8,000 shares

Sum:                   Yen 400 million

Major shareholders (%): Susumu Arii (14), Kozo Ishimizu (10), Mitsui Sumitomo Marine Ins (9), KK Kanax (8), Sumitomo Corp (3)

No. of shareholders: 40

 

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

 

 

OPERATION

           

Activities: Ship owner and operator, owning car carriers, freighters, bulkers, container ships, other (--100%)

 

Clients: [Shipping lines] Mitsui OSK Lines, Mitsubishi Corp, Sumitomo Corp, Mitsui & Co, Itochu Corp, other

No. of accounts: 200

Domestic areas of activities: Nationwide

Suppliers: [Shipping Lines, mfrs]  New Auto Carrier, Tomen Toyota Tsusho Petroleum Pte Ltd, Polar Bear SA, Nissan Trading Co Ltd, New Ship Carrier, other 

 

Payment record: No Complaints

 

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

 

Bank References:

SMBC (Tokyo-Chuo)

Mizuho Bank (Yaesuguchi)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/12/2012

31/12/2011

31/12/2010

31/03/2009

Annual Sales

　

10,200

9,701

11,298

8,794

Recur. Profit

　

300

270

-384

　

Net Profit

　

150

-398

25

74

Total Assets

　

　

3,380

4,188

4,782

Current Assets

　

　

1,991

3,069

　

Current Liabs

　

　

1,309

1,221

　

Net Worth

　

　

382

810

814

Capital, Paid-Up

　

　

400

400

400

Div.P.Share(¥)

　

　

　

　

　

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.14

-14.14

28.47

-40.98

    Current Ratio

 

..

152.10

251.35

..

    N.Worth Ratio

..

11.30

19.34

17.02

    R.Profit/Sales

 

2.94

2.78

-3.40

..

    N.Profit/Sales

1.47

-4.10

0.22

0.84

    Return On Equity

..

..

3.09

9.09

 

Notes: Forecast (or estimated) figures for the 31/12/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.57.07

UK Pound

1

Rs.88.96

Euro

1

Rs.71.40

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.