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Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
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Name : |
TRANS TAIHEIYO CORPORATION |
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Registered Office : |
Tonami Omori Bldg 2F, 6-16-4 Minami-Oi Shinagawaku Tokyo 140-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April 1990 |
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Com. Reg. No.: |
0107-01-021526 (Tokyo-Shinagawaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
NVOCC (non-vessel operating common carrier) transport |
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No. of Employees : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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 : |
Unknown |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 small agricultural sector is highly subsidized and protected, with
crop yields among the highest in the world. While self-sufficient in rice
production, Japan imports about 60% of its food on a caloric basis. 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. Modest economic growth continued after 2000, but the
economy has fallen into recession three times since 2008. A sharp downturn in
business investment and global demand for Japan's exports in late 2008 pushed
Japan 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 and the ensuing tsunami in March disrupted
manufacturing. The economy has largely recovered in the two years since the
disaster, but reconstruction in the Tohoku region has been uneven.
Newly-elected Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has pledged to reconsider his predecessor's plan
to permanently close nuclear power plants and is pursuing an economic
revitalization agenda of fiscal stimulus and regulatory reform and has said he
will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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
TRANS TAIHEIYO CORPORATION
REGD NAME: Trans
Taiheiyo KK
MAIN OFFICE: Tonami
Omori Bldg 2F, 6-16-4 Minami-Oi Shinagawaku Tokyo 140-0013 JAPAN
Tel:
03-6404-3747
Fax:
URL: http://www.trans-taiheiyo.co.jp
E-Mail address: info@ttwl.lines.gr.jp
NVOCC (non-vessel
operating common carrier) transport
Shizuoka
(Distribution Center)
NOBUHARU MACHIDA,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 280 M
PAYMENTS REGULAR CAPITAL Yen
10 M
TREND SLOW WORTH Yen
44 M
STARTED 1990 EMPLOYES 7
INTERMODAL TRANSPORT.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT
SHOULD BE GOOD FOR MODERATE BUISNESS ENGAGEMENTS.
The subject company was
established on the basis of the International Multimodal Transportation
Department separated from Taiheiyo Transportation Co Ltd. The firm ships consolidation cargo to over 20
major ports directly, and LCL cargo to nearly 1,000 worldwide
destinations. Tokyo & Yokohama are
the main gate-port for cargo distribution to inland destinations, and for
door-to-door delivery service. (See OPERATION).
Financials are only
partially disclosed.
The sales volume for Mar/2012 fiscal term
amounted to Yen 280 million, a 30% down from Yen 398 million in the previous
term. Freight earnings were hurt by the
high Yen, declining earnings & profits in Yen terms. The operations continued in the red to post
Yen 5 million net losses for the term, compared with Yen 6 million net losses a
year ago.
For the term that ended
Mar 2013 the operations were projected to come back to profitability but still limited
to a minimum amount post-taxes, on a 4% rise in turnover, to Yen 290
million. Final results are yet to be
released.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements.
Date Registered: Apr
1990
Regd No.:
0107-01-021526 (Tokyo-Shinagawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Company’s Treasury Stock (51), Nobuharu Machida (35), Minoru Machida
(12), Miyoko Machida (2)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Intermodal transport:
container cargo consolidation, door-to-door delivery services, international
multimodal transportation, customs clearance, bonded warehousing, logistic
& distribution, packing and crating, marine insurance agency, other
(--100%).
Clients: [Mfrs,
wholesalers] Fuji Latex Co, Missha Japan Inc, Miyairi Valve Mfg, Matsumura
Shoten, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui OSK Lines (50%), Wanhai Lines, Kawasaki Kisen, Hyundai Shipping
Japan, NYK Lines Japan, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Shizuoka Chuo Bank
(Yokohama)
Shoko Chukin Bank
(Omori)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Annual
Sales |
|
290 |
280 |
398 |
430 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
1 |
-5 |
-6 |
-1 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
44 |
39 |
33 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.57 |
-29.65 |
-7.44 |
-46.25 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.34 |
-1.79 |
-1.51 |
-0.23 |
|
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.56.49 |
|
|
1 |
Rs.86.01 |
|
Euro |
1 |
Rs.73.68 |
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.