MIRA INFORM REPORT

 

 

Report Date :

14.05.2012

 

IDENTIFICATION DETAILS

 

Name :

DOUN KISEN KK 

 

 

Registered Office :

1307-8 Kogo Namikatacho Imabari City Ehime-Pref 799-2110

 

 

Country :

Japan

 

 

Financials (as on) :

31.05.2011

 

 

Date of Incorporation :

September 1963

 

 

Com. Reg. No.:

5000-01-011980 (Ehime-Imabari)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Ship Manager, Operation Agency

 

 

No. of Employees :

39

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

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

 

DOUN KISEN KK

 

 

REGD NAME 

 

Doun Kisen KK

 

 

MAIN OFFICE

 

1307-8 Kogo Namikatacho Imabari City Ehime-Pref 799-2110 JAPAN

Tel: 0898-41-9569     Fax: 0898-41-6011

 

URL:                 N/A      

 

 

ACTIVITIES  

 

Ship manager, operation agency

 

 

BRANCHES

 

Nil

 

 

OFFICER(S)

 

GENJI OOKOUCHI, PRES          Sosuke Ookouchi, dir

Ryosuke Ookouchi, dir               Tomoko Shimizu, dir

Chiyo Ookouchi, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        WEAK              A/SALES          Yen 450 M

PAYMENTS Slow                  CAPITAL           Yen 21 M

TREND STEADY           WORTH            Yen (-) 683 M

STARTED         1963                 EMPLOYES      39

COMMENT

 

SHIP MANAGEMENT & OPERATION 

 

FINANCIAL SITUATION CONSIDERED WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS

 

 

HIGHLIGHTS

           

The subject company was established by Genji Ookouchi in order to make most of his experience in the subject line of business.  This is a ship manger and agency, owned and operated by the Ookouchi family, managing Panamanian flag vessels: tankers, freighters, containers, other.  Clients are shipping companies.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed as is the case with family-based companies.

 

The sales volume for May/2011 fiscal term amounted to Yen 450 million, a 13% up from Yen 400 million in the previous term.  The number of handling vessels increased.  The operations continued in the red to register Yen 100 million net losses, compared with Yen 100 million net losses a year ago.  .

 

For the current term ending May 2012 the operations are expected to come back to profitability but still limited to a minimum amount post-taxes, on a similar turnover, at Yen 450 million.

 

The financial situation is considered WEAK but should be good for MODERATE business engagements.

 

 

REGISTRATION

 

Date Registered:           Sept 1963

Regd No.:            5000-01-011980 (Ehime-Imabari)

Legal Status:   　 Limited Company (Kabushiki Kaisha)

Authorized:      　 160,000 shares

Issued:             　 42,000 shares

Sum:                　 Yen 21 million

 

Major shareholders (%): Genji Ookouichi (65), Yukuko Ookouchi (10), Yuriko Ookouichi (5)

 

No. of shareholders: 7

 

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

 

OPERATION

 

Activities: Ship management, ship consultancy, ship agency, real estate management, other (--100%).

 

Clients: [Shipping firms] Midas Line SA, Forland Panama SS, Ponanza Line SA, Got Shipping, other.

            No. of accounts: 200

            Domestic areas of activities: Nationwide

 

Suppliers: [Ship builders] IHI Corp, Imabari Shipyard, Shin-Kurushima Dockyard, Sanoyasu Hishino Shipyard, other

 

Payment record: Slow

 

Location: Business area in Imabari City, Ehime-Pref.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

Iyo Bank (Hashihama)

Hiroshima Bank (Imabari)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/05/2012

31/05/2011

31/05/2010

31/05/2009

Annual Sales

　

450

450

400

400

Recur. Profit

　

　

　

　

　

Net Profit

　

0

-100

-100

-54

Total Assets

　

　

N/A

N/A

5,468

Net Worth

　

　

-683

-583

-483

Capital, Paid-Up

　

　

21

21

21

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

0.00

12.50

0.00

5.26

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

-8.83

    N.Profit/Sales

0.00

-22.22

-25.00

-13.50

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/05/2012 fiscal term. 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.64

UK Pound

1

Rs.86.42

Euro

1

Rs.69.29

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.