|
Report No. : |
354827 |
|
Report Date : |
11.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEW SHIPPING KAISHA LTD |
|
|
|
|
Registered Office : |
Ichigaya Daito Bldg 3F, 6-3 Daimachi Ichigaya Shinjukuku Tokyo 162-0066 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
Jan., 1985 |
|
|
|
|
Com. Reg. No.: |
0111-01-062345 (Tokyo-Shinjukuku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Ship Operator, Ship Management, Crew Arrangement, Other. |
|
|
|
|
No. of Employees : |
19 |
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 |
|
Maximum Credit Limit : |
Yen 2.4 Million |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 an 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. Scarce in many natural
resources, Japan has long been dependent on imported raw materials. Since the
complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami
disaster in 2011, Japan's industrial sector has become even more dependent than
it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times
since 2008. 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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 2014 stood as the fourth-largest economy in the
world after first-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2012. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
NEW SHIPPING KAISHA LTD
REGD NAME: New
Shipping KK
MAIN OFFICE: Ichigaya
Daito Bldg 3F, 6-3 Daimachi Ichigaya Shinjukuku Tokyo 162-0066
JAPAN
Tel: 03-5919-6105 Fax: 03-5919-6115
URL: http://www.newshipping.co.jp
E-Mail address: (thru the URL)
Ship operator,
ship management, crew arrangement, other
Nil
Korea
YOSHIKAZU
KURASHIGE, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 130 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 20 M
TREND STEADY WORTH Yen
153 M
STARTED 1985 EMPLOYES 19
SHIP OPERATOR AND MANAGEMENT, OWNED BY DAITOH
TRADING CO.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 2.4 MILLION, ON 30 DAYS NORMAL TERMS.
The subject
company was established by Daitoh Trading Co Ltd, at the caption address (See REGISTRATION). This is a ship operator and manager of
chemical tankers, operating 9
vessels. Has a branch office in
Korea.
The vessel trades mainly within S/E Asian waters.
Financials are consolidated
by the parent, Daitoh Trading Co, and disclosed only partially. Net profits are not disclosed and only
estimated.
The sales volume
for Dec/2014 fiscal term amounted to Yen 130 million, a similar amount in the
previous term. The net profit is
estimated posted at Yen 10 million, similarly in the previous term.
For the current
term ending Dec 2015 the net profit is projected at Yen 11 million, on a 4%
rise in turnover, to Yen 135 million.
The weaker Yen will contribute to raise earnings in Yen terms.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max
credit limit is estimated at Yen 2.4 million, on 30 days normal terms.
Date
Registered: Jan 1985
Regd
No.: 0111-01-062345 (Tokyo-Shinjukuku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
160,000 shares
Issued:
40,000 shares
Sum:
Yen 20 million
Major shareholders (%): Daitoh Trading Co
Ltd* (100)
*.. Petroleum Oil trader,
at the caption address, founded 1947,
capital Yen 2,000 million, sales Yen 54,455 million, operating profit Yen 672
million, recurring profit Yen 816 million, net profit Yen 617 million, total assets Yen 40,725 million, employees 59, pres Yoshiro Nakabe
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Chemical tanker
(9 tankers) operator & manager, owned by Daitoh Trading Co Ltd (--100%)
Clients: [Mfrs,
wholesalers] Daitoh Trading Co Ltd (Clients include: Idemitsu Kosan Kaisha, JX
Nippon Oil & Energy Corp, Itochu Enex, Taiyo Oil, Hanwa Trading, other)
No. of accounts: 1
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Daitoh Trading Co Ltd
Payment
record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are
owned by the parent, Daitoh Trading, and maintained satisfactory.
Bank
References:
MUFG (Marunouchi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
Annual
Sales |
|
135 |
130 |
130 |
130 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
11 |
10 |
10 |
10 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
153 |
143 |
133 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.85 |
0.00 |
0.00 |
0.00 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
8.15 |
7.69 |
7.69 |
7.69 |
Notes: Financials are only partially
disclosed. Profits are only estimated as
not disclosed.
Forecast (or estimated)
figures for the 31/12/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.73.46 |
|
Yen |
1 |
Rs.0.55 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
AMR |
|
|
|
|
Report Prepared
by : |
NIT |
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.