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Report No. : |
308009 |
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Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
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Name : |
UNIVERSAL SHIPPING CO LTD |
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Registered Office : |
TAF Kyobashi Bldg 3F, 1-19-4 Kyobashi Chuoku |
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Country : |
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Financials (as on) : |
31.01.2014 |
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Date of Incorporation : |
March 1982 |
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Com. Reg. No.: |
0100-01-059861 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is ship broker, ship
management. |
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No. of Employee : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – 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 |
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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. 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 |
UNIVERSAL SHIPPING CO LTD
REGD NAME: Universal
Kaiun KK
MAIN OFFICE: TAF
Kyobashi Bldg 3F, 1-19-4 Kyobashi Chuoku Tokyo 104-0031 JAPAN
Tel: 03-3562-7080
Fax: 03-3562-7081
URL: N/A
Ship
broker, ship management
Nil
KOICHI
KUROKAWA, PRES
Hitoshi Kawasaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 634 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 10 M
TREND UP WORTH Yen 264 M
STARTED 1982 EMPLOYES 3
SHIP BROKER SPECIALIZING IN STEEL PRODUCTS, FERTILIZER, ETC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established by Katsufumi Kawabata in
order to make most of his experience in the shipping industry, and has been
succeeded by the present executives.
Koichi Kurokawa took the pres office in Jan 2008. This is a ship broker specializing in steels,
steel products and fertilizer as main items, also other industrial
materials. The services include ship
charter, ship sales & purchase, ship management, and other related
services. Now, specifically focuses on
transport to and from China. Clients
are major general trading houses, nationwide.
Financials
are only partially disclosed as from the 31/01/2014 fiscal term.
The revenues for Jan/2014 fiscal term amounted to Yen 634 million,
a 22% up from Yen 521 million in the previous term. Shipping demand increased for steel &
steel products to China and other S/E Asian countries. Oil tanker transport rose. The net profit was posted at Yen 7 million,
compared with Yen 51 million a year ago.
For the term that ended Jan 2015 the net profit was
projected at Yen 60 million, on a 3% rise in turnover, to Yen 655 million. Final results are yet to be released.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 46.5 million, on 30 days normal
terms.
Date
Registered: Mar 1982
Regd
No.: 0100-01-059861
(Tokyo-Chuoku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued:
200 shares
Sum:
Yen
10 million
Major
shareholders (%): Hiroichi Kurokawa (13), Akira Tazawa (6)
No. of shareholders: 15
Nothing detrimental is known as to
the commercial morality of executives.
Activities: Ship broker specializing in steels,
steel products, fertilizer, other industrial raw materials (--100%).
The service includes: ship
charter, ship sales & purchase, ship management, and related operations.
Clients: [Trading houses] TRINET Logistics
(20%), Mitsubishi Corp (10%), Mitsui & Co, Sojitz Corp, Shinsho Corp,
Itochu Corp, Tri-Net Japan Inc, other.
No. of accounts: 10
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers: Ship
owners, ship operators (--Panama), other
Domestically:
Kotoku Kaiun, other
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References: SMBC (Kyobashi)
MUFG
(Ginza)
Relations:
Money deposits and transfers only.
(In Million Yen)
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Terms Ending: |
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31/01/2015 |
31/01/2014 |
31/01/2013 |
31/01/2012 |
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Annual
Sales |
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655 |
634 |
521 |
546 |
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Recur.
Profit |
|
.. |
.. |
51 |
-74 |
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Net Profit |
|
60 |
7 |
51 |
-74 |
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Total
Assets |
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N/A |
267 |
257 |
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Net
Worth |
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|
264 |
257 |
230 |
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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 |
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3.31 |
21.69 |
-4.58 |
-17.02 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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|
.. |
96.25 |
89.49 |
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N.Profit/Sales |
|
9.16 |
1.10 |
9.79 |
-13.55 |
Note: Financials
are only partially disclosed as from the 31/01/2014 fiscal term.
Forecast
figures for the 31/01/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.43 |
|
|
1 |
Rs.95.01 |
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Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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.