MIRA
INFORM REPORT
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Report Date : |
31st
May 2006 |
IDENTIFICATION
DETAILS
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Name : |
KYORITSU SEIYAKU CORPORATION |
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Registered Office : |
1-5-10 Kudanminami Chiyodaku Tokyo
102-0074 Japan |
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Country : |
Japan |
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Financials (as on) : |
31/05/2006
(Estimated) |
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Date of Incorporation : |
May 1955 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importers, exporters
and wholesalers of veterinary medicines |
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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Maximum Credit Limit : |
YEN 526.6 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
NAME
KYORITSU SEIYAKU CORPORATION
REGD NAME
Kyoritsu Seiyaku KK (Seiyaku means Pharmaceuticals)
MAIN OFFICE
1-5-10 Kudanminami Chiyodaku Tokyo 102-0074 JAPAN
Tel: 03-3263-2931
Fax: ^
URL:http://www.kyoritsuseiyaku.com/
E-Mail address: kyoritsu@kyoritsuseiyaku.com
ACTIVITIES
Import, export, wholesale of veterinary medicines
BRANCHES
Sapporo, Sendai, Saitama, Osaka, Nagoya, Okayama, Fukuoka,
Kagoshima
FACTORY(IES)
Daiba (Tokyo), Samukawa (--warehousing)
OFFICER(S)
Yuriko Takai, ch YUHEI
OKAMOTO, PRES
Takaaki Takai, v pres Seiichi
Hirano, mgn dir
Susumu Furuuchi, dir Kazuhiro
Fujita, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen
13,506 M
PAYMENTS REGULAR CAPITAL Yen
55 M
TREND STEADY WORTH Yen 9,253 M
STARTED 1955 EMPLOYES 233
COMMENT
TRADING HOUSE SPECIALIZING VETERINARY MEDICINES. FINANCIAL SITUATION CONSIDERED FAIR TO GOOD
AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 526.6 MILLION, NORMAL 30 DAYS TERMS.
HIGHLIGHTS
The subject company is a leading trading house specializing
in animal medicines, established by Yuriko Takei’s husband. Specializes in import and wholesale of
veterinary drugs, all for prescription by veterinary surgeons, such as vaccine,
vitamins, etc. Also handles pulicide,
antibacterial agents, anthelmintic agents, pet foods, supplement foods, all for
animals. Animal feeds are also
handled. Nation’s top-ranked wholesaler
of animal drugs. Have wide business
tie-ups with overseas mfrs, such as Fort Dodge Animal Health, Master Foods,
Inter-bet International, Abbot Laboratories, Animal Health Options, Addison
Biological Laboratory, other. Domestic
clients include pharmaceuticals mfrs, wholesalers, other.
The sales volume for May/2005 fiscal term amounted to Yen
13,506 million, a 3.5% up from Yen 13,051 million in the previous term. Demand for animal drugs grew rapidly amid
pet booms nationwide. The recurring
profit was posted at Yen 1,451 million and the net profit at Yen 965 million,
respectively, compared with Yen 1,282 million recurring profit and Yen 945
million net profit, respectively, a year ago.
For the current term ending May 2006 the recurring profit
is projected at Yen 1,550 million and the net profit at Yen 1,030 million,
respectively, on a 7.4% rise in turnover, to Yen 14,500 million.
The financial situation is considered FAIR to GOOD and
responsible to ORDINARY business engagements.
Max credit limit is estimated at Yen 526.6 million, on normal 30 days
terms.
REGISTRATION
Date Registered: May
1955
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 280,000 shares
Issued: 110,000 shares
Sum: Yen 55 million
Major shareholders (%): Yuriko Takai (54), Takaaki Takai
(25), Yuhei Okamoto (10)
No. of shareholders: 17
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales veterinary prescription
animal drugs: vaccine, vitamin, antibacterial agents, anthelmintic agents,
animal feeds, pet foods, supplement, other (--100%).
Clients: [Pharmaceutical firms, traders] Aesop Yakuhin,
Morikubo Yakuhin, Asuko, Atol Co, Sun Daiko, Maruzen Yakuhin, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Master Foods, Toray Ind,
Kyowa Hakko Kogyo, other. Goods are
also imported.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Mizuho Bank (Jimbocho)
Bank of Tokyo-Mitsubishi UFJ (Shin-Marunouchi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/05/2006 |
31/05/2005 |
31/05/2004 |
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Annual Sales |
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14,500
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13,506
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13,051
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Recur. Profit |
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1,550
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1,451
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1,282
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Net Profit |
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1,030
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965
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945
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Total Assets |
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14,861
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15,603
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Current
Assets |
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9,107
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9,713
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Current Liabs |
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2,508
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3,404
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Net Worth |
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9,253
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8,416
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Capital,
Paid-Up |
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55
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55
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Div.P.Share(¥) |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.36
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3.49
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-8.86
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Current Ratio |
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.. |
363.12
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285.34
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N.Worth Ratio |
.. |
62.26
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53.94
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R.Profit/Sales |
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10.69
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10.74
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9.82
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N.Profit/Sales |
7.10
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7.14
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7.24
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Return On Equity |
.. |
10.43
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11.23
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Notes: Forecast (or
estimated) figures for the 31/05/2006 fiscal term.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |