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Report No. : |
304972 |
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Report Date : |
29.01.2015 |
IDENTIFICATION DETAILS
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Name : |
TOKO KAIUN KAISHA LTD |
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Registered Office : |
Meikai Bldg, 32 Akashimachi Chuoku |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
July 1935 |
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Com. Reg. No.: |
1400-01-009849 (Kobe-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Subject is a Ship owner/operator, ship management
services, ship agency |
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No. of Employee : |
79 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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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 |
TOKO KAIUN KAISHA LTD
REGD NAME: Toko
Kaiun KK
MAIN OFFICE: Meikai
Bldg, 32 Akashimachi Chuoku Kobe 650-0037
Tel: 078-331-1511
Fax: 078-331-6444
*.. The is its Tokyo Office
URL: http//:www.tokoline.co.jp
E-mail: info@tokoline.co.jp
ACTIVITIES: Ship owner/operator, ship management, ship
agency
OVERSEAS: USA, Hong Kong, Singapore
BRANCHES: Tokyo
OFFICER(S): EISUKE IDAKA, PRES Daisuke Idaka, ch
Hideo
Suemune, v ch Kensuke
Idaka, dir
Ryoichi
Nishiwaki, dir
Yen
Amount: In million Yen, unless otherwise
stated
SUMMARY: FINANCES FAIR A/SALES Yen 36,215 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 49
M
TREND STEADY WORTH Yen
12,456 M
STARTED 1935 EMPLOYES 79
COMMENT: SHIP OWNER/OPERATOR
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company is an old-established company by
Iwaichiro Idaka as a ship operator. Line
of business: ship operation (to/from North America, Latin America, S/E Asia,
China, Middle East, Bengal, India, Australia, etc). It also offers ship management & ship
agency services.
The sales volume for Mar/2014 fiscal term amounted to Yen
36,215 million, a 22% rise from Yen 29,662 million in the previous term. Robust shipping demand particularly to and
from China boosted sales. Also freight
rates were raised. The recurring profit
was posted at Yen 1,589 million and the net profit at Yen 692 million,
respectively, compared with Yen 797 million recurring profit and Yen 469
million net profit, respectively, a year ago..
.
For the current term ending Mar 2015 the recurring profit is
projected at Yen 1,650 million and the net profit at Yen 750 million,
respectively, on a 4% rise in turnover, to Yen 37,500 million. Weaker Yen may raise earnings in Yen
terms.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jul 1935
Regd No.: 1400-01-009849 (Kobe-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2.4 million shares
Issued: 982,000 shares
Sum: Yen
49.1 million
Major shareholders (%): Toko Yoko (12), NS United
Kaiun Kaisha (11), NYK Line (8), other
No. of shareholders: 27
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Ship owner/operator, ship management
services, ship agency (--100%)
(Line of Business): Ship operation to/from North America,
Latin America, S/E Asia, China, Middle East, Bengal, India, Australia, etc.Clients: [Wholesalers, steel mills,
mfrs] Mitsubishi Corp, Mitsui & Co, Metal One, Sumitomo Corp,
Itochu-Marubeni Steel, JFE Steel, Kobe Steel, Toyota Tsusho Corp, Kubota, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Shipping lines, mfrs] Shinwa Kaiun,
NYK Global Bulk, Mitsui-OSK Line, Leyte Navigation, other.
Payment record: No Complaints
Location:
Business area in Kobe. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(Kobe)
Mizuho
Bank (Kobe)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
37,500 |
36,215 |
29,662 |
27,323 |
|
Recur.
Profit |
|
1,650 |
1,589 |
797 |
524 |
|
Net
Profit |
|
750 |
692 |
469 |
514 |
|
Total
Assets |
|
|
18,659 |
17,314 |
15,203 |
|
Current
Assets |
|
|
13,015 |
12,265 |
9,401 |
|
Current
Liabs |
|
|
5,813 |
5,017 |
3,279 |
|
Net
Worth |
|
|
12,456 |
11,908 |
11,535 |
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Capital,
Paid-Up |
|
|
49 |
49 |
49 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.55 |
22.09 |
8.56 |
-15.14 |
|
Current Ratio |
|
.. |
223.89 |
244.47 |
286.70 |
|
N.Worth Ratio |
|
.. |
66.76 |
68.78 |
75.87 |
|
R.Profit/Sales |
|
4.40 |
4.39 |
2.69 |
1.92 |
|
N.Profit/Sales |
|
2.00 |
1.91 |
1.58 |
1.88 |
|
Return On Equity |
|
.. |
5.56 |
3.94 |
4.46 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.93.18 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
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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 |
|
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.