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Report Date : |
06.02.2013 |
IDENTIFICATION DETAILS
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Name : |
UNIVERSAL SHIPPING CO LTD |
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Registered Office : |
TAF Kyobashi Bldg 3F, 1-19-4 Kyobashi Chuoku Tokyo 104-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2012 |
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Date of Incorporation : |
March 1982 |
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Com. Reg. No.: |
0100-01-059861 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Ship broker, ship management |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
JAPAN - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
Source
: CIA
UNIVERSAL SHIPPING CO LTD
REGD NAME: Universal
Kaiun KK
MAIN OFFICE: TAF
Kyobashi Bldg 3F, 1-19-4 Kyobashi Chuoku Tokyo 104-0031 JAPAN
Tel:
03-3562-7080 Fax: 03-3562-7081
URL: N/A
Ship broker, ship
management
Nil
HIROICHI KUROKAWA,
PRES
Akira Tazawa, dir
Hitoshi Kawasaki,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 546 M
PAYMENTS SLOW
BUT CORRECT CAPITAL Yen 10 M
TREND SLOW WORTH Yen 230 M
STARTED 1982 EMPLOYES 4
SHIP BROKER SPECIALIZING IN STEEL PRODUCTS, FERTILIZER, ETC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was
established by Katsufumi Kawabata in order to make most of his experience in
the shipping industry, and has been succeeded by the present executives. This is a ship broker specializing in steels,
steel products and fertilizer as main items, also other industrial
materials. The services include ship
charter, ship sales & purchase, ship management, and other related
services. Now, specifically focuses on
transport to and from China. Clients
are major general trading houses, nationwide.
The revenues for
Jan/2012 fiscal term amounted to Yen 546 million, a 17% down from Yen 658
million in the previous term. Shipping
demand to and from China decreased. The
operations continued in the red to register Yen 74 million recurring loss and
Yen 74 million net losses for the term, respectively, compared with Yen 21
million recurring loss and Yen 21 million net losses, respectively, a year ago.
For the term that
ended Jan 2013 the operations were projected to come back to profitability but
still limited to a minimum amount post-taxes, on a 3% rise in turnover, to Yen
560 million. Final results are yet to be
released.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements.
Date Registered: Mar
1982
Regd No.:
0100-01-059861 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Hiroichi Kurokawa (13), Akira Tazawa (6)
No.
of shareholders: 15
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Ship broker specializing
in steels, steel products, fertilizer, other industrial raw materials (--100%).
The service includes: ship charter, ship
sales & purchase, ship management, and related operations.
Clients: [Trading houses]
TRINET Logistics (20%), Mitsubishi Corp (10%), Mitsui & Co, Sojitz Corp,
Shinsho Corp, Itochu Corp, Tri-Net Japan Inc, other.
No. of accounts:
10
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: Ship owners, ship operators (--Panama), other
Domestically:
Kotoku Kaiun, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Kyobashi)
MUFG (Ginza)
Relations: Money deposits
and transfers only.
(In Million Yen)
|
Terms Ending: |
31/01/2013 |
31/01/2012 |
31/01/2011 |
31/01/2010 |
|
|
Annual
Sales |
|
560 |
546 |
658 |
538 |
|
Recur.
Profit |
|
0 |
-74 |
-21 |
10 |
|
Net
Profit |
|
0 |
-74 |
-21 |
10 |
|
Total
Assets |
|
|
257 |
327 |
356 |
|
Current
Assets |
|
|
230 |
280 |
302 |
|
Current
Liabs |
|
|
27 |
22 |
27 |
|
Net
Worth |
|
|
230 |
305 |
329 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.Ttl
in Million (¥) |
|
|
0.00 |
13.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.56 |
-17.02 |
22.30 |
-73.34 |
|
|
Current Ratio |
|
.. |
851.85 |
1,272.73 |
1,118.52 |
|
N.Worth Ratio |
.. |
89.49 |
93.27 |
92.42 |
|
|
R.Profit/Sales |
|
0.00 |
-13.55 |
-3.19 |
1.86 |
|
N.Profit/Sales |
0.00 |
-13.55 |
-3.19 |
1.86 |
|
|
Return On Equity |
.. |
-32.17 |
-6.89 |
3.04 |
|
Note: Forecast figures
for the 31/01/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
|
1 |
Rs.83.96 |
|
Euro |
1 |
Rs.71.88 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.