MIRA INFORM REPORT
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Report Date : |
13.05.2013 |
IDENTIFICATION DETAILS
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Name : |
KANTOH KAIUN CO LTD |
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Registered Office : |
Okajima Bldg 6F, 7-14
Nihombashi-Tomizawacho Tokyo 103-0006 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
March 1988 |
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Legal Form : |
Limited Company |
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Line of Business : |
Refrigerator ship owner/operator |
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No. of Employees : |
04 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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 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 |
KANTOH KAIUN CO LTD
Kantoh Kaiun KK
Okajima Bldg 6F,
7-14 Nihombashi-Tomizawacho Tokyo 103-0006 JAPAN
Tel:
03-5640-4721 Fax: 03-5640-4723
URL: N/A
Refrigerator ship owner/operator
Nil
SHIGEKI
FUKUDA, PRES
Kenzo
Kanisawa, dir
Sakie
Nakamura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 24 M
PAYMENTSSlow but Correct CAPITAL Yen 10 M
TREND SLOW WORTH Yen 178 M
STARTED 1988 EMPLOYES 4
REFRIGERATOR SHIP OWNER/OPERATOR.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by Shigeki Fukuda in
order to make most of his experience in the subject line of business. This is a refrigerator ship owner, owning 2 ships,
and chartering in 1 ship, for coastal trading.
Clients include reefer carriers, other.
Financials are only partially disclosed.
The sales volume for Sept/2012 fiscal term amounted to Yen 24 million, a 31% down from Yen 35 million in the previous term. High Yen and credit crunch in Europe affected the sales/operation negatively. The operations continued in the red to post Yen 1 million net loss, similarly in the previous term.
For the current term ending Sept 2013 the net profit is projected at Yen 1 million, on a 25% rise in turnover, to Yen 30 million. Weaker Yen will contribute to raise revenues in Yen terms.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.
Date Registered: Mar 1988
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders
(%): Shigeki Fukuda (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Owns and operates reefer ships, two owned and chartered out, one chartered in, for coastal trading (--100%)
Clients: [Mfrs, wholesalers] Tokyo Reefer Chartering, Fresh Carriers, other
No. of accounts: 5
Domestic areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Kobe Diesel Co, Tokai Oil, Dockyards, other
Payment record: Slow but Correct
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Mitsubishi UFJ Trust Bank (H/O)
SMBC (Nihombashi)
Relations: Satisfactory
(In Million Yen)
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Terms
Ending: |
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30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
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Annual
Sales |
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30 |
24 |
35 |
88 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
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1 |
-1 |
-1 |
-6 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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178 |
177 |
176 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
25.00 |
-31.43 |
-60.23 |
-13.73 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
3.33 |
-4.17 |
-2.86 |
-6.82 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
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UK Pound |
1 |
Rs.84.19 |
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Euro |
1 |
Rs.71.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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---- |
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.