MIRA INFORM REPORT

 

 

Report Date :

07.03.2012

 

IDENTIFICATION DETAILS

 

Name :

FRESH CARRIERS CO LTD

 

 

Registered Office :

New Kawai Bldg 7F, 3-4-6 Nihombashi-Honcho Chuoku Tokyo 103-0023

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

April 2001

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Sea transport of fruits & vegetables

 

 

No. of Employees :

10

 

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 323.7 Million

Status :

Moderate

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 30, 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 and address

 

FRESH CARRIERS CO LTD

REGD NAME:    KK Fresh Carriers

MAIN OFFICE:  New Kawai Bldg 7F, 3-4-6 Nihombashi-Honcho Chuoku Tokyo 103-0023 JAPAN

Tel: 03-3516-8461     Fax: 03-3516-8462

 

URL:                 http://www.freshcarriers.com (under repairing)/

E-Mail address: mail@freshcarriers.com

 

 

ACTIVITIES

 

Sea transport of fruits & vegetables

 

BRANCHES   

 

Nil

 

 

OFFICER(S)

 

TAKAO TAKESHIGE, PRES

Mikio Kimura, dir

Tomiyasu Kondoh, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 17,800 M

PAYMENTS                  NO COMPLAINTS          CAPITAL           Yen 52 M

TREND             SLOW                          WORTH            Yen 355 M

STARTED                     2001                             EMPLOYES      10

 

 

COMMENT

 

SHIPPING COMPANY, OWNED BY NIPPON SUISAN KAISHA LTD. 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY

BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 323.7 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

            The subject company was established as a shipping firm when fruits/vegetables sales division separated from Nissui Shipping KK, wholly owned by Nippon Suisan Kaisha Ltd (See REGISTRATION).　This is a specialized carrier of fruits/vegetables.  Transports both imports and exports goods.

           

 

FINANCIAL INFORMATION

 

            Financials are only partially disclosed and in rounded off numbers.

 

            The sales volume for Mar/2011 fiscal term amounted to Yen 17,800 million, a 1.1% down from Yen 18,000 million in the previous term.  Fresh cargo movements decreased.  Exports were hurt by the high Yen.  The net profit was posted at Yen 35 million, compared with Yen 40 million a year ago.

 

For the current term ending Mar 2012 the net profit is projected at Yen 40 million, on a 4% rise in turnover, to Yen 18,500 million.

           

            The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 323.7 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Apr 2001

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         4,200 shares

Issued:                1,050 shares

Sum:                   Yen 52.5 million

Major shareholders (%): Nippon Suisan Kaisha Ltd*(100)

 

* Second largest in seafood industry & tops in frozen foods, Tokyo, founded1943, listed Tokyo, Osaka S/E’s, capital Yen 23,729 million, turnover Yen 494,294 million, operating profit Yen 8,088 million, recurring profit Yen 6,275 million, net loss Yen 921 million, total assets Yen 408,911 million, net worth Yen 52,081 million, employees 10,929, pres Naoya Kakizoe

 

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

 

 

OPERATION

 

Activities: Ship operator specializing in fruits & vegetables, wholly owned by Nippon Suisan Kaisha Ltd (--100%).

 

           

Clients: [Cargo owners] Nippon Suisan Kaisha, Dole Japan, Dole Chile, Sunrise Coast New Zealand, Sumisho Fruits, other

No. of accounts: 200

Domestic areas of activities: Nationwide

Suppliers: [Ship owners] Sampaquita Shipping SA, Copihue Shipping SA, other.

 

Payment record: No Complaints

 

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

 

Bank References:

Mizuho Bank (Koenji)

SMBC (Koishikawa)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

18,500

17,800

18,000

19,000

Recur. Profit

　

　

　

　

　

Net Profit

　

40

35

40

50

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

355

320

290

Capital, Paid-Up

　

　

52

52

52

Div.P.Share(₯)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.93

-1.11

-5.26

0.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.22

0.20

0.22

0.26

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/03/2012 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.03

UK Pound

1

Rs.79.32

Euro

1

Rs.66.02

 

 

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.