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Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOYOFUJI SHIPPING
CO LTD |
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|
|
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Registered Office : |
33-3 Shinpocho Tokai City Aichi-Pref
476-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 (Estimated) |
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Date of Incorporation : |
March 1964 |
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Com. Reg. No.: |
1800-01-094400 (Aichi-Tokai) |
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Legal Form : |
Limited Company |
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Line of Business : |
operator of Automobile carrier, owning a total of 422,000 DWT tons car Carriers, Coastal Transport, Ocean-Going Transport, Terminal Operation, Customs Clearance & Other Related Services |
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No of Employees : |
240 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Prime Minister Shinzo ABE
has declared the economy his government's top priority; he has overturned his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus, monetary easing, and
structural reform. Japan joined the Trans Pacific Partnership negotiations in
2013, a pact that would open Japan's economy to increased foreign competition
and create new export opportunities for Japanese businesses. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2013 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 is
exceeding 230% of GDP. To help raise government revenue and reduce public debt,
Japan decided in 2013 to gradually increase the consumption tax to a total of
10% by the year 2015. Japan is making progress on ending deflation due to a
weaker yen and higher energy costs, but reliance on exports to drive growth and
an aging, shrinking population pose other major long-term challenges for the
economy.
|
Source : CIA |
TOYOFUJI SHIPPING CO LTD
Toyofuji Kaiun KK
33-3 Shinpocho
Tokai City Aichi-Pref 476-0005 JAPAN
Tel:
052-603-6111 Fax: 052-601-8138
URL: http://www.toyofuji.co.jp/
E-Mail address: info@toyofuji.co.jp
operator of
Automobile carrier, owning a total of 422,000 DWT tons car
Carriers, Coastal Transport, Ocean-Going Transport, Terminal Operation, Customs
Clearance & Other Related Services
Aichi
(3), Tokyo, Yokohama, Kitakyushu, Sendai
USA,
China, Taiwan, Australia, Hong Kong, Singapore, Philippines
Nagoya,
Tawara (Aichi), Yokohama (--distribution facilities)
KUNIO
KOMADA, PRES Motoaki
Chiba, s/mgn dir
Yuji
Chizawa, mgn dir Sumimitsu
Noda, mgn dir
Hisaya
Taniguchi, mgn dir Katsunori
Itasaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 57,304 M
PAYMENTS REGULAR CAPITAL Yen 120 M
TREND STEADY WORTH Yen
27,369 M
STARTED 1964 EMPLOYES 240
CAR
CARRIER OPERATOR OWNED BY TOYOTA MOTOR AND GROUP FIRMS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Toyota Motor Co, top auto assembler, Aichi-Pref and two group firms, Fuji Trans Corp and Toyota Transport Co, originally for coastal transportation of automobiles assembled by Toyota Motor. With the rapid expansion of Toyota Motor into USA, Asia, Oceania for exporting, local production, importing, and related operations, has expanded into owning and operating ocean-going fleet for these purposes. Handles semi-knock down automobiles, supply of car mfg parts, spare parts to overseas subsidiaries, completely built-up automobiles back & forth. In July 2004, opened a subsidiary in Belgium. The firm operates three distribution facilities in Nagoya, Tawara (Aichi-Pref) and Yokohama, offering customs clearance services and terminal operation, too.
The sales volume for Mar/2013 fiscal term amounted to Yen 57,304 million, a 14% up from Yen 50,100 million in the previous term. Auto production increased and exports rose. The net profit was posted at Yen 2,210 million, compared with Yen 350 million a year ago.
For the term that ended Mar 2014 the net profit was projected at Yen 2,300 million, on a 6% rise in turnover, to Yen 60,500 million. Final results are yet to be released.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Mar 1964
Regd No.: 1800-01-094400 (Aichi-Tokai)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
960,000 shares
Issued:
240,000 shares
Sum: Yen 120
million
Major shareholders (%): Toyota Motor Corp*(50), Fuji
Trans Corp (33.3), Toyota Transport (16.7)
No. of shareholders: 3
*.. Top automaker; capital Yen 397,050 million, turnover Yen 25,691,911 million, operating profit Yen 2,292,112 million, recurring profit Yen 2,441,080 million, net profit Yen 1,823,119 million, total assets Yen 41,437,473 million, net worth Yen 15,218,987 million, employees 338,475, pres Akio Toyoda
Nothing detrimental is known as to the commercial morality of executives.
Activities: Automobile carrier operator, owning a total of 422,000 DWT tons car carriers,: coastal transport (40%), ocean-going transport (45%), terminal operation, customs clearance, other related services (12%), others (3%). (% is all about)
Clients: [Carmakers, wholesalers] Toyota Transport, Toyota Motor, Toyota Tsusho, Fuji Trans Corporation, Denso Corp, other.
No. of accounts: 30
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers, ship operators, ship owners] Fuji Trans Corp, Toyota Tsusho, Feng Li Maritime Co, Dai-Ichi Chuo Lines, other.
Payment record: Regular
Location: Business area in Tokai City, Aichi-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Tokai)
SMBC (Nagoya)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
60,500 |
57,304 |
50,100 |
49,000 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
2,300 |
2,210 |
350 |
2,167 |
|
Total
Assets |
|
|
41,429 |
37,894 |
39,787 |
|
Current
Assets |
|
|
19,396 |
12,198 |
14,599 |
|
Current
Liabs |
|
|
10,635 |
8,585 |
9,238 |
|
Net
Worth |
|
|
27,369 |
25,274 |
25,989 |
|
Capital,
Paid-Up |
|
|
120 |
120 |
120 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.58 |
14.38 |
2.24 |
7.22 |
|
|
Current Ratio |
.. |
182.38 |
142.09 |
158.03 |
|
|
N.Worth Ratio |
.. |
66.06 |
66.70 |
65.32 |
|
|
R.Profit/Sales |
.. |
.. |
.. |
.. |
|
|
N.Profit/Sales |
3.80 |
3.86 |
0.70 |
4.42 |
|
|
Return On Equity |
.. |
8.07 |
1.38 |
8.34 |
|
Notes: Forecast (or estimated) figures for
31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.28 |
|
UK Pound |
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.