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Report No. : |
314935 |
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Report Date : |
04.04.2015 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL BUNKER SERVICES KK |
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Registered Office : |
MLC Kojimachi Bldg, 2-8 Kojimachi Chiyodaku Tokyo 102-0083 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2014 |
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Date of Incorporation : |
March, 2005 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Supplier of marine fuel & diesel oils, lubricants; ship agency services, arrangement of bunker surveyors (--100%) |
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No. of Employee : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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. 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.
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Source
: CIA |
English Company
Name INTERNATIONAL
BUNKER SERVICES KK
Japanese company
name INTERNATIONAL
BUNKER SERVICES KK
Registered Office
1. Street Number
and District MLC
Kojimachi Bldg, 2-8 Kojimachi Chiyodaku
2. City and
Perefecture Tokyo
3. ZIP Code 102-0083
4. Country JAPAN
TEL 03-5215-8120
FAX 03-5215-8121
Email Address ibs@ibskk.com
Activities (Services & Products) Supplier of marine fuel &
diesel oils, lubricants; ship agency services,
arrangement of bunker surveyors (--100%)
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Annual Sales (MM YEN) |
4,343 |
|||
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Capital Amount (MM YEN) |
10 |
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Net Worth (MM YEN) |
-158,959 |
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FINANCES |
SLOW |
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TREND |
DOWN |
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EMPLOYEES |
5 |
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Year Started |
2005 |
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Year Registered |
March 2005 |
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Legal Status: |
Limited Company (Kabushiki Kaisha) |
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Major Shareholders(%) |
Danish Capital (T. O. Nielsen) (100) |
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Number of Shareholders |
1 |
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Authorized Shares (MM) |
200 |
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Issued Shares (MM) |
200 |
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Sum: |
Yen 10 million |
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Executives |
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PRESIDENT |
HIDEO SHIKADA |
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Main Banks |
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1 |
SMBC (Hibiya) |
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Relations |
Satisfactory |
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Clients [Ship owners, ship operators, oil traders] |
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1 |
Royal Dutch Shell, |
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2 |
Exxon Mobile |
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3 |
BP |
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4 |
Sumitomo Corp |
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5 |
Marubeni Corp |
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6 |
Mitsui & Co |
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7 |
Mitsubishi Corp |
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Suppliers [Oil refineries, oil traders, general
trading houses] |
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1 |
Group firms |
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2 |
Shinanen Co |
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3 |
Mitsubishi Corp |
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4 |
Sumitomo Corp |
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5 |
Marubeni Corp |
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6 |
Nittsu Corp |
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No. of accounts |
200 |
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The subject company was established by a Danish shipping company & bunkering
group, established in 1876, in order to market bunkering fuels and lubricants
in Japan. The firm has three divisions:
supply of marine fuel/diesel oils, lubricants and ship husbanding agency
division. This is a trading firm for
import and supply bunker oils & lubricants for vessels calling Japanese
ports. It also offers agency services
for foreign vessels calling Japan. The
Danish group supplies bunkers & lubricants for vessels world over. It also arranges bunker surveyor from
surveyor companies, such as DNV, SGS & Intertek Caleb Brett. Clients are shipping companies, oil
companies, oil dealers, general trading houses, other, nationwide. The subject company suffered from poor sales
during the 2014 year-end sales season.
They declared losses in the business year ending in March.
The sales volume for Mar/2014 fiscal term amounted to Yen 4,343 million,
a -57,5% down from Yen 10,220 million in the previous term. The recurring profit was posted at Yen -302 million
and the net profit at Yen -158 million, respectively, compared with Yen -7
million recurring profit and Yen -17 million net profit, respectively, a year
ago.
For the term that ended Mar 2015 the net profit was projected at Yen -191
million, respectively, on a 3% side in turnover, to Yen 4,474 million. Final results are yet to be released.
The financial situation is considered SLOW for ORDINARY business
engagements. Max credit limit is
estimated at Yen -75,2 million, on 30 days normal terms.
Notes: Forecast (or estimated) figures for the
30/04/2015 fiscal term.
|
Terms Ending: |
30/04/2015 |
30/04/2014 |
30/04/2013 |
30/04/2012 |
|
Annual Sales |
4,474 |
4,343 |
10,220 |
18,564 |
|
Recur. Profit |
.. |
-302 |
-7 |
100 |
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Net Profit |
-191 |
-201 |
-17 |
17 |
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Total Assets |
|
548 |
1,129 |
2,267 |
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Net Worth |
|
-158 |
42 |
60 |
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Capital, Paid-Up |
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|
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Div.P.Share(¥) |
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.02 |
-57.50 |
-44.95 |
#DIV/0! |
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Current Ratio |
|
.. |
.. |
.. |
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N.Worth Ratio |
|
-28.83 |
3.72 |
2.65 |
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N.Profit/Sales |
-4.27 |
-4.63 |
-0.17 |
0.09 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
SDA |
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 |
|
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 |
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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 |
|
<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.