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Report No. : |
304861 |
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Report Date : |
24.01.2015 |
IDENTIFICATION DETAILS
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Name : |
KAMBRA KISEN CO LTD |
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Formerly Known As : |
TSUNEISHI HOLDINGS CORP-KAMBARA KISEN CO |
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Registered Office : |
1083 Tsuneishi Numakumacho Tsuneishi City Hiroshima-Pref 720-0313 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
June 1944 |
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Com. Reg. No.: |
2400-01-037708 |
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Legal Form : |
Limited Company |
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Line of Business : |
Ship owner and operator of full container service between Japan and
China, other (--100%). |
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No. of Employee : |
70 |
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 : |
No Complaints |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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. 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 |
KAMBRA KISEN CO
LTD
Kambara Kisen KK
1083 Tsuneishi Numakumacho Tsuneishi City Hiroshima-Pref 720-0313 JAPAN
Tel: 084-987-0778
Fax: 084-987-2729
URL: http://www.kambara-kisen.co.jp
E-Mail address: info@kambara-kisen.co.jp
ACTIVITIES: Ship owner & container ship operator
BRANCHES: Tokyo, Osaka, Niigata, Ishikawa, Hiroshima,
other (Tot 9)
OVERSEAS: China (5)
OFFICERS: Masahito Kambara, ch HIROTATSU KAMBARA, PRES
Katsuhiro
Danjo, mgn dir Yuji Miyazaki,
mgn dir
Kazunari
Fukuda, dir Mizuho
Taniguchi, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 25,125 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 200 M
TREND STEADY WORTH Yen
33,394 M
STARTED 1944 EMPLOYES 70
COMMENT: SHIP OWNER & CONTAINER SHIP OPERATOR.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a separation
(independent entity) of of group
firms under Tsuneishi Holdings Corp (see REGISTRATION). This is a ship owner and operator of container ships. Owned bulk & coal carriers are
time-chartered out to major ship operators. In 1983, started full container services
between Japan and Saipan/Guam/Palau & Micronesia
route. The routes were extended to S
Asia/Europe & Australia. And in
1994, launched into full container
service between Japan and China under JV management. In 2002, switched to
independent service operations. Major
servicing routes from and to Japan are: Shanghai,
Dalian, Qingdao, Tianjin, Xiamen, Changing Valley.
Financials are only partially disclosed.
The sales volume for Dec/2013 fiscal term amounted to Yen 25,125
million, a 6% down from Yen 26,612 million in the previous term. The net profit was posted at Yen 1,786 million,
compared with Yen 1,421 million a year ago.
For the term that ended Dec 2014 the net profit was projected at Yen
1,900 million, on a 5% rise in turnover, to Yen 26,500 million. Final results are not released yet.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: Jun
1944
Regd No.: 2400-01-037708 (Hiroshima-Fukuyama)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8,000
shares
Issued:
2,000 shares
Sum: Yen
100 million
Major shareholders
(%):
Tsuneishi Holdings Corp* (100)
*.. Holding Company of Tsuneishi Group firms, Hiroshima, founded 1942,
capital Yen 100 million, sales Yen 7,220 million, net profit Yen 4,567 million,
employees 24, pres Yasuharu Fushimi
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Ship owner and
operator of full container service between Japan and China, other (--100%).
Clients: [Ship operators,
cargo owners, wholesalers] NYK Lines, Mitsubishi Materials, Kawasaki Kisen,
Sojitz Corp, Marubeni Corp, Mitsui & Co, Taiheiyo Cement, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Ship builder,
mfrs, wholesalers] Tsuneishi Corp, Mitsubishi Materials, Tsuneishi C-Values,
other.
Payment record: No Complaints
Location: Business area in
Fukuyama City, Hiroshima-Pref. Office
premises at the caption address are owned by the parent, Tsuneishi Holdings Corp,
and maintained satisfactorily.
Bank References:
Bank of Hiroshima (Fukuyama)
Shoko Chukin Bank (Fukuyama)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
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Annual Sales |
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26,500 |
25,125 |
26,612 |
26,996 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
1,900 |
1,786 |
1,421 |
809 |
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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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33,394 |
32,144 |
31,150 |
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Capital, Paid-Up |
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|
100 |
100 |
100 |
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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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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
5.47 |
-5.59 |
-1.42 |
-89.32 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
|
7.17 |
7.11 |
5.34 |
3.00 |
Note: Financials are
only partially disclosed.
Forecast (or estimated) for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
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|
1 |
Rs.92.16 |
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Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.