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Report Date : |
29.06.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
MOL TECHNO-TRADE LTD |
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Registered Office : |
Yaesu Daibiru
6F, 1-1-1 Kyobashi Chuoku |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
June
1948 |
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Legal Form : |
Limited
Company |
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Line of Business : |
Supply of ship fuels, lube oils, ship machinery &
equipment |
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No. of Employees : |
109 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – 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 |
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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 |
MOL TECHNO-TRADE LTD
Shosen Mitsui
Techno Trade KK
Yaesu Daibiru 6F,
1-1-1 Kyobashi Chuoku Tokyo 104-0031 JAPAN
Tel: 03-6367-5300
*.. Moved to the caption address from the one as given
E-Mail address: info@motech.co.jp
Supply
of ship fuels, lube oils, ship machinery & equipment
Osaka,
Kobe, Nagoya, Kisarazu, Kitakyushu
Singapore,
Taiwan, Europe, UAE (--affiliated companies)
HIDEHIRO
HAMADA, PRES Masatoshi
Yokoo, s/mgn dir
Toshiaki
Nishiyama, s/mgn dir Kazuo
Kobayashi, mgn dir
Yoshimaru
Saho, mgn dir Koichi
Kushita dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 58,938 M
PAYMENTS REGULAR CAPITAL Yen 490 M
TREND STEADY WORTH Yen 5,328 M
STARTED 2000 EMPLOYES 109
TRADING COMPANY SPECIALIZING IN MARINE FUELS, MACHINERY
& SUPPLIES, WHOLLY OWNED BY MITSUI OSK LINES.
FINANCIAL SITUA-TION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1948 as a ship
operation & mainte-nance company by the then OSK Lines (currently Mitsui
OSK Lines after the merger). In Apr 2000, the subject merged three sister
firms: Mitsui OSK Kogyo Kaisha (founded 1948), Navix Techno-Trade (founded
1973) and Nippon Engineering & Machineries (founded 1967), to rename as
captioned. This is a trading firm
specializing in supply of marine fuels, luboils, ship machinery, equipment,
parts, and other materials related to ships, including ship management &
maintenance services, as a mainline. By
the merger, operations expanded to include machin-ery division, real estate
division, shore construction materials division, and new business division (see
OPERATIONS). The mainline of marine fuels & lube oils
division is growing rapidly backed up by the steep rise in oil prices. Clients are mostly Mitsui OSK Lines group
firms. Four overseas subsidiaries take
part in supplying marine fuels and ship supplies overseas.
The sales volume for Mar/2011 fiscal term amounted to Yen 58,938
million, a 13% up from Yen 51,987 million in the previous term. This is attributed to the rising prices of
fuel oil and other materials. The
recurring profit was posted at Yen 1,089 million and the net profit at Yen 580
million, respectively, compared with Yen 1,041 million recurring profit and Yen
518 million net profit, respectively, a year ago.
For the term that ended Mar 2012 the recurring profit was projected at
Yen 1,100 million and the net profit at Yen 600 million, respectively, on a 5%
rise in turnover, to Yen 6,200 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun 1948
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
39.2 million shares
Issued: 9.8 million shares
Sum: Yen 490 million
Major shareholders (%):
Mitsui OSK Lines*(100)
*.. Nation’s second largest shipping company, Tokyo, founded 1884,
listed Tokyo, Osaka, Nagoya, Sapporo, Fukuoka S/E’s, capital 65,400 million,
turnover Yen 1,435,220 million, recurring loss Yen 24,459 million, net loss Yen
26,009 million, total assets Yen 1,946,141 million, net worth Yen 717,909
million, employees 9,400, pres Akimitsu Ashida
Consolidated
Financials are attached (See SUPPLEMENTS)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading house
specializing in marine fuels & supplies (--100%).
Business operations:
Marine Fuel &
Ship Supplies Div: ship machineries, equipment, parts, marine fuels,
lube oils, maintenance services of Japan’s national oil storage bases, and
other materi-als related to ships;
Machinery Div
(non-ship-related): building facilities (installation & maintenance
included), air-conditioning equipment for nuclear power plants, industrial
equipment, etc;
Real Estate Div: design,
construction and sale of imported housings, real estate bro-kerages, etc;
Shore Construction
Materials Div: sand & aggregate for airport facilities, revetment works, others;
New Business Div: cultivation of
flowers (at own farm), health foods, gardening equipment & materials, etc.
Clients: [Ship owners,
operators, wholesalers] Tokyo Marine, Mitsui OSK Lines, MOL Ferry, Kansai
Kisen, MOL Ship Management Asia, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Oil suppliers,
oil refineries] Exxon Mobil, Cosmo Oil, Marubeni Petroleum
Co, Sentek Marine & Trading Pte Ltd, Idemitsu Fine Oil
Higashinippon, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC
(H/O)
MUFG
(Tokyo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
|
62,000 |
58,938 |
51,987 |
66,733 |
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Recur.
Profit |
|
1,100 |
1,089 |
1,041 |
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Net
Profit |
|
600 |
580 |
518 |
791 |
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Total
Assets |
|
|
16,910 |
15,874 |
15,638 |
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Current
Assets |
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|
14,605 |
13,141 |
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Current
Liabs |
|
|
10,627 |
9,563 |
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Net
Worth |
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|
5,328 |
4,746 |
4,233 |
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Capital,
Paid-Up |
|
|
490 |
490 |
490 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.20 |
13.37 |
-22.10 |
-0.40 |
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Current Ratio |
|
.. |
137.43 |
137.42 |
.. |
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N.Worth Ratio |
.. |
31.51 |
29.90 |
27.07 |
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R.Profit/Sales |
|
1.77 |
1.85 |
2.00 |
.. |
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N.Profit/Sales |
0.97 |
0.98 |
1.00 |
1.19 |
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Return On Equity |
.. |
10.89 |
10.91 |
18.69 |
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Note: Forecast (or estimated) for the
31/03/2012 fiscal term.
CONSOLIDATED FINANCIALS OF THE PARENT,
MITSUI OSK LINES
|
FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2012 |
31/03/2011 |
||
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INCOME STATEMENT |
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Annual Sales |
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1,435,220 |
1,543,660 |
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Cost of Sales |
1,368,794 |
1,328,959 |
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GROSS PROFIT |
66,426 |
214,701 |
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Selling & Adm Costs |
90,885 |
91,300 |
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OPERATING PROFIT |
-24,459 |
123,400 |
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Non-Operating P/L |
139 |
-1,779 |
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RECURRING PROFIT |
-24,320 |
121,621 |
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NET PROFIT |
-26,009 |
58,277 |
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BALANCE SHEET |
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Cash |
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50,864 |
65,788 |
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Receivables |
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130,921 |
128,208 |
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Inventory |
|
54,335 |
46,547 |
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Securities, Marketable |
10,023 |
29 |
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Other Current Assets |
40,793 |
103,871 |
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TOTAL CURRENT ASSETS |
286,936 |
344,443 |
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Property & Equipment |
1,293,802 |
1,257,823 |
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Intangibles |
|
16,193 |
9,187 |
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Investments, Other Fixed Assets |
349,230 |
257,287 |
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TOTAL ASSETS |
1,946,161 |
1,868,740 |
|||
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Payables |
|
133,599 |
130,752 |
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Short-Term Bank Loans |
101,012 |
111,720 |
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Other Current Liabs |
88,240 |
131,796 |
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TOTAL CURRENT LIABS |
322,851 |
374,268 |
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Debentures |
|
187,030 |
160,157 |
||
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Long-Term Bank Loans |
552,156 |
399,382 |
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Reserve for Retirement Allw |
13,766 |
14,310 |
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Other Debts |
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152,449 |
180,376 |
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TOTAL LIABILITIES |
1,228,252 |
1,128,493 |
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MINORITY INTERESTS |
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Common
stock |
65,400 |
65,400 |
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Additional
paid-in capital |
44,486 |
44,516 |
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Retained
earnings |
629,667 |
664,645 |
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Evaluation
p/l on investments/securities |
16,888 |
14,488 |
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Others |
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(31,381) |
(41,621) |
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Treasury
stock, at cost |
(7,151) |
(7,181) |
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TOTAL S/HOLDERS` EQUITY |
717,909 |
740,247 |
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TOTAL EQUITIES |
1,946,161 |
1,868,740 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2012 |
31/03/2011 |
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Cash
Flows from Operating Activities |
|
5,014 |
181,755 |
||
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Cash Flows
from Investment Activities |
-134,312 |
-134,785 |
|||
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Cash
Flows from Financing Activities |
148,272 |
-63,759 |
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Cash,
Bank Deposits at the Term End |
|
82,837 |
65,477 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2012 |
31/03/2011 |
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Net
Worth (S/Holders' Equity) |
717,909 |
740,247 |
||
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Current
Ratio (%) |
88.88 |
92.03 |
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Net
Worth Ratio (%) |
36.89 |
39.61 |
||
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Recurring
Profit Ratio (%) |
-1.69 |
7.88 |
||
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Net Profit
Ratio (%) |
-1.81 |
3.78 |
||
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Return
On Equity (%) |
-3.62 |
7.87 |
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.92 |
|
UK Pound |
1 |
Rs.88.91 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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 |
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---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.