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Report No. : |
350124 |
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Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
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Name : |
TOKO LINER
SERVICE CO LTD |
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Registered Office : |
Toko Bldg 1F, 1-8-10 Nihombashi-Muromachi Chuoku Tokyo 103-0022 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
October 1988 |
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Com. Reg. No.: |
0100-01-062878 |
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Legal Form : |
Limited Company |
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Line of Business : |
Shipping Company of liner operations: to/from North America, Latin America, S/E Asia, China, Middle East, Bengal, India, Australia, other (--100%) |
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No. of Employees : |
9 |
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 – 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 |
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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 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 |
TOKO LINER SERVICE CO LTD
REGD NAME: Toko
Liner Service KK
MAIN OFFICE: Toko
Bldg 1F, 1-8-10 Nihombashi-Muromachi Chuoku Tokyo 103-0022 JAPAN
Tel: 03-3274-3668
Fax: 03-3278-9643
URL: http://www.tokyo.tokoline.co.jp
E-Mail address: liner@tokyo.tokoline.co.jp
ACTIVITIES: Shipping
Company of liner operations worldwide
BRANCHES: Kobe
(Parent, Toko Kaiun Kaisha Ltd)
OVERSEAS: Worldwide
(--Agents)
OFFICERS: EISUKE
IDAKA, PRES Kensuke Idaka,
rep dir
Daisuke Idaka, dir Hideo Suemune, dir
Seiji Hamaoka, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 220 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
20 M
TREND STEADY WORTH Yen 56 M
STARTED 1988 EMPLOYES 9
COMMENT: SHIPPING COMPANY OF LINER OPERATIONS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
This is a shipping company of liner operations mainly for export cargoes overseas, a Toko Group firms. It operates worldwide destinations (See OPERATION). Daisuke Idaka is concurrently pres at the parent, Toko Kaiun Kaisha Ltd (See REGISTRATION).
Financials are disclosed only partially.
The sales volume for Sept/2014 fiscal term amounted to Yen 220 million, a similar turnover in the previous term. The net profit market time at Yen 2 million.
For the term that ended Sept 2015 the net profit was projected at Yen 5 million, on a 9% rise in turnover, to Yen 240 million. The weaker Yen may have raised earnings in Yen terms. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Oct 1988
Regd No.:
0100-01-062878
(Tokyo-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued: 40,000
shares
Sum: Yen
20 million
Major shareholders (%): Toko
Kaiun Kaisha Ltd* (100)
*.. Shipping Company, Kobe, founded 1935,
capital Yen 49 million, sales Yen 40,344, net profit
Yen 1,140 million, total assets Yen 20,110 million, net worth Yen 13,374
million, employees 74, pres Eisuke Idaka,
concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Shipping Company of liner operations: to/from North America, Latin America, S/E Asia, China, Middle East, Bengal, India, Australia, other (--100%)
Clients: [Mfrs, wholesalers]
Idaka Kaiun Kaisha Ltd
No. of accounts:
One (for distribution)
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Idaka Kaiun Kaisha Ltd
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned by Toko Kaiun Kaisha Ltd, the Group owner, and maintained
satisfactory.
Bank References:
SMBC (Tokyo-Chuo)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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30/09/2015 |
30/09/2014 |
30/09/2013 |
30/09/2012 |
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Annual
Sales |
|
240 |
220 |
220 |
215 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
5 |
2 |
2 |
2 |
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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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|
56 |
54 |
52 |
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Capital,
Paid-Up |
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|
20 |
20 |
20 |
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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 |
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9.09 |
0.00 |
2.33 |
0.47 |
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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 |
|
2.08 |
0.91 |
0.91 |
0.93 |
Notes: Financials are only partially disclosed.
Forecast (or
estimated) figures for the 30/09/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.98 |
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|
1 |
Rs.100.11 |
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Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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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 |
-- |
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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.