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Report No. : |
303420 |
|
Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SEINO TRANSPORTATION CO., LTD |
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Registered Office : |
1-Taguchimachi Ogaki Gifu-Pref 503-8501 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
October 2005 |
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Com. Reg. No.: |
200-01-015755 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is engaged in trucking, business service, express
parcel delivery, door-to-door delivery |
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No. of Employees : |
12,383 |
RATING & COMMENTS
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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 13,268.0 Million |
|
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) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 |
SEINO TRANSPORTATION CO., LTD
REGD NAME: Seino
Transportation KK
MAIN OFFICE: 1-Taguchimachi
Ogaki Gifu-Pref 503-8501 JAPAN
Tel: 0584-81-1111
Fax: 0584-84-5040
*..Given
postcode is the address of one of its branch offices.
URL: http://www.seino.co.jp/seino
E-Mail address: (thru the URL)
Trucking, business
service, express parcel delivery, door-to-door delivery
Tokyo, Hokkaido,
Shizuoka, Aichi (total of 182)
SHIZUTOSHI OTSUKA
PRES Yoshikatsu Taguchi, ch
Yoshitaka Taguchi,
rep dir Masahiro Kamiya, s/mgn
dir
Takao Taguchi, dir Toshiya Nishiura, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 260,904 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
100 M
TREND UP WORTH Yen 141,071 M
STARTED 2005
EMPLOYES 12,383
TRUCKING & PARCEL DELIVERY SERVICE
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 13,268.0 MILLION, ON 30 DAYS
NORMAL TERMS.
The subject company was established on the basis of a division separated
from Seino Holdings Inc (see
REGISTRATION) in Oct 2005. This is the largest logistic company known as express parcel
delivery “Kangaroo Express”, offering trucking, door-to-door parcel delivery
service, express delivery service. Core
of Seino Holdings Inc. Engaged in joint
operation with Fukuyama Transporting Co Ltd.
The sales volume for Mar/2014 fiscal term amounted to Yen 260,904 million, a 6% up from Yen 246,103 million in the previous term. In mainstay trucking business, higher unit
prices contributed. The recurring profit
was posted at Yen 8,107 million and the net profit at Yen 4,337 million,
respectively, compared with Yen 5,395 million recurring profit and Yen 2,530 million net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 8,200 million and the net profit at Yen 4,400 million,
respectively, on a 2% rise in turnover, to Yen 265,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 13,268.0 million, on 30 days normal terms.
Date Registered: Oct 2005
Regd No.:
200-01-015755 (Gifu-Ogaki)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8,000 shares
Issued:
2,000 shares
Sum: Yen 100 million
Major
shareholders (%): Seino Holdings Inc* (100)
*.. Pioneer in route trucking & largest
in the industry, founded 1946, listed Tokyo, Nagoya S/E’s, capital Yen 42,481 million, sales Yen 543,407
million, operating profit Yen 30,189 million,
recurring profit Yen 25,324 million, net profit Yen 15,490 million, total
assets Yen 544,031 million, net worth
Yen 338,468 million, employees 26,345, pres Yoshitaka Taguchi
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Commercial-business service distributor, express parcel delivery
service, door-to-door delivery service, air-freight, ocean shipping delivery
service, others (---100%).
Clients: [Mfrs, wholesalers,
consumers] Seino Holdings, Hino Motors, Ltd. Seino Express, business firms,
other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hino Motors Gifu, Seino Co, Seino Engineering, Seino Information
Service, Idemitsu Kosan, Oida Oil, other
Payment record: No complaints
Location: Business area in
Ogaki City, Gifu-Pref. Office premises
at the caption address are owned and maintained satisfactory.
Bank
References:
Juroku Bank (Ogaki)
Ogaki Kyoritsu Bank
(H/O)
Relations: Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
265,000 |
260,904 |
246,103 |
245,844 |
|
Recur.
Profit |
|
8,200 |
8,107 |
5,395 |
5,365 |
|
Net
Profit |
|
4,400 |
4,337 |
2,530 |
1,323 |
|
Total
Assets |
|
|
225,136 |
217,387 |
216,161 |
|
Current
Assets |
|
|
72,763 |
65,760 |
62,706 |
|
Current
Liabs |
|
|
45,977 |
41,612 |
43,467 |
|
Net
Worth |
|
|
141,071 |
138,232 |
137,025 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.Ttl
in Million (¥) |
|
|
2,168 |
1,500 |
1,323 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
1.57 |
6.01 |
0.11 |
-2.89 |
|
Current Ratio |
|
.. |
158.26 |
158.03 |
144.26 |
|
N.Worth Ratio |
|
.. |
62.66 |
63.59 |
63.39 |
|
R.Profit/Sales |
|
3.09 |
3.11 |
2.19 |
.. |
|
N.Profit/Sales |
|
1.66 |
1.66 |
1.03 |
0.54 |
|
Return On Equity |
|
.. |
3.07 |
1.83 |
0.97 |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
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|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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 |
|
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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 |
|
|
-- |
NB |
New Business |
-- |
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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.