|
Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
INTERASIA LINES LTD |
|
|
|
|
Registered Office : |
Fukoku Seimei Bldg 3F, 2-2-2 Uchisaiwaicho Chiyodaku Tokyo 101-0044 |
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|
|
|
Country : |
Japan |
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|
|
Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
Sept 1967 |
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|
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Com. Reg. No.: |
0100-01-011132
(Tokyo-Chiyodaku) |
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|
|
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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|
|
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Line of Business : |
Container ship operator in the Asian countries |
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|
|
|
No. of Employees : |
45 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
INTERASIA LINES
LTD
Interasia Line KK
Fukoku Seimei Bldg 3F, 2-2-2 Uchisaiwaicho Chiyodaku Tokyo 101-0044
JAPAN
Tel:
03-3580-6555
Fax: 03-2580-6575
URL: http://www.ial.co.jp
E-Mail address: (thru the URL)
Container
ship operator, covering Asian countries
Osaka
Hong
Kong, Taiwan, Singapore, Malaysia, Thailand, Philippines, other (--agents)
Chotei
Chin*, rep ch
RIKI CHIN*, PRES & CEO
*..
Names spelled phonetically in Japanese
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 13,610 M
PAYMENTS SLOW
CAPITAL Yen 98 M
TREND SLOW WORTH Yen
340 M
STARTED 1967 EMPLOYES 45
CONTAINER SHIP OPERATOR
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally as Nichinan
Kaiun Kaisha Ltd for providing container ship transportation between Japan and
Taiwan, and was renamed as captioned now.
Service routes are now extended to: China, India, Indonesia, Thailand,
Malaysia, Philippines, Sri Lanka, Middle East, covering the full Asian
countries. Particularly expanded into
China and Vietnam, with agents established.
The services are provided in partnership with Wan Hai Lines Ltd,
Taipei.
FINANCIAL
INFORMATION
The sales volume for Mar/2012 fiscal term amounted to Yen
13,610 million, a 43% up from Yen 9,520 million in the previous term. This is attributed to the expanded sailing
routes into China, Middle East and other Asian countries. However the operations continued in the red
to register Yen 100 million net losses for the term, compared with Yen 91
million net losses a year ago. Overheads
and operation costs ate into the profits, as reported.
For the current term ending Mar 2013 the operations are
projected to come back to profitability but still limited to a minimum amount
post-taxes, on a 3% rise in turnover, to Yen 14,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Sept
1967
Regd No.: 0100-01-011132 (Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 3,200 shares
Issued:
800 shares
Sum: Yen
98 million
Major shareholders (%): Interasia Lines Singapore
(96.3), Wan Hai Lines (43.7)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Container ship operator in the Asian countries:
China, Taiwan, Hong Kong, India, Indonesia, Thailand, Malaysia, Philippines,
Sri Lanka, Middle East, other (--100%)
Clients: [Mfrs, wholesalers] Azuma Shipping Co,
Inter Asia Line, YS Agency, other
No. of
accounts: 30
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Suzue Corporation,
Wan Hai Lined Ltd, Mitsui-OSK Lines, Interasia Line, Azuma Shipping Co, other
Payment record: slow
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Shimbashi)
SMBC
(Kanda)
Relations:
Satisfactory
(In Million Yen)
|
|
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Annual
Sales |
|
14,000 |
13,610 |
9,520 |
6,368 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
0 |
-100 |
-91 |
158 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
340 |
440 |
531 |
|
Capital,
Paid-Up |
|
|
98 |
98 |
98 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.87 |
42.96 |
49.50 |
-0.48 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.00 |
-0.73 |
-0.96 |
2.48 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.48 |
|
UK Pound |
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.