MIRA INFORM REPORT

 

 

Report Date :

16.01.2007

 

IDENTIFICATION DETAILS

 

Name :

INTERMED JAPAN INC

 

 

Registered Office :

SC Sakaisuji Honmachi Bldg 9F, 1-4-15 Kitakyuhojimachi Chuoku Osaka 541-0057

 

 

Country :

Japan

 

 

Date of Incorporation :

Oct 1980

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import and wholesale of medical instruments

 

RATING & COMMENTS

 

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 141.3 millions

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name

 

INTERMED JAPAN INC

 

 

REGD NAME

 

KK Intermed Japan

 

 

MAIN OFFICE

 

SC Sakaisuji Honmachi Bldg 9F, 1-4-15 Kitakyuhojimachi Chuoku Osaka 541-0057 JAPAN

Tel : 06-6262-2481 

Fax : 06-6262-7556

*.. See REGISTRATION for subsidiary JSS Inc

URL : http://www.intermedjp.co.jp

E-Mail address: info@intermedjp.co.jp

 

 

ACTIVITIES

 

Import, wholesale of medical instruments

 

 

LICENSES

 

Medical Instruments Importer / distributor’s License : No. 27BY5059 since 01/Dec/1983; Medical Instruments Mfg License: No. 33BZ5002 since 12/Dec/1988; granted from the Ministry of Health, Labor & Welfare, Japan.

 

 

BRANCHES

 

Tokyo, Sapporo, Sendai, Niigata, Kanazawa, Nagoya, Hiroshima, Fukuoka, Takamatsu; (Overseas): San Diego (USA) (representative office)

 

 

FACTORY(IES)

 

Katsuta (Okayama-Pref): mfg, storing, warehousing, tests & inspection, quality control, sterilizing, packing, repairing, etc.

 

 

OFFICERS

 

KEN’ICHI KANEMARU, PRES                Yutaka Ono, s/mgn dir

Keiji Omata, mgn dir                              Yoshitaka Hattori, dir

Mariko Kura, dir                                     Hideo Gotoh, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 3,300 M

PAYMENTS      REGULAR                     CAPITAL           Yen 30 M

TREND             STEADY                       WORTH            Yen 2,700 M

STARTED         1980                             EMPLOYES      113

 

 

COMMENT

 

IMPORTER AND WHOLESALER OF MEDICAL INSTRUMENTS.   FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 141.3 MILLION, 30 DAYS NORMAL TERMS. 

 

 

HIGHLIGHTS

           

The subject company was established by Ken’ichi Kanemaru for importing medical equipment from USA.  Specializes in importing and wholesaling medical equipment & apparatus such as OR & Central Supply products, respiratory management products, electro-surgical products, surgical instrumentation, gastrointestinal products, MIS (Minimally Invasive Surgery) products, etc, etc.  In 1991, separated the surgery division as a wholly-owned entity, JSS Inc (see REGISTRATION), to focus on surgery medical equipment, such as electro-surgical systems, surgical instrumentation, other.  On 01/08/2006, reorganized the group as IMJ Group, with two pillar firms (divisions): Intermed Japan Inc and JSS Inc.  Both firms hold licenses for importing medical instruments granted from the Ministry of Health, Labor & Welfare, Japan as above stated.  Goods are imported from USA, Europe centrally.  Clients are medical institutions, medical equipment dealers, mfrs, other, nationwide.

 

 

FINANCIAL INFORMATION

           

The sales volume for Oct/2005 fiscal term amounted to Yen 3,300 million, a 10% up from Yen 3,000 million in the previous term.  This was thanks to increased demand for cardiac surgery-related equipment and apparatus.  The net profit was posted at Yen 150 million, up 15% from Yen 130 million a year ago.

 

For the term ended Oct 2006 the net profit is thought posted at Yen 160 million, on a 6% rise in turnover, to Yen 3,500 million.  Final results have not been made available.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 141.3 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:            Oct 1980

Legal Status:                 Limited Company (Kabushiki Kaisha)

Authorized:                    240,000 shares

Issued:                          60,000 shares

Sum:                            Yen 30 million

Major shareholders (%): Ken’ichi Kanemaru (52)

No. of shareholders:       8

Nothing detrimental is known as to the commercial morality of executives.

*.. JSS Inc, at 8F of the caption address, separated from the subject firm in May/1991 to     focus on import and wholesale of surgical medical instruments from V Mueller, USA; Medical Instruments Importer/Distributor’s License: 27B1X00040 granted from the Minister of Health, Labor and Welfare.  Management & operations, including domestic & overseas branch offices, are fully integrated with the parent, Intermed Japan Inc.

URL: http://jss.co.jp (Japanese only)

 

 

OPERATION

 

Activities: Imports and wholesales medical equipment, apparatus, supplies (--100%); such as:  Operating room products (gloves/non-woven), patient care products, respiratory care products, surgical instruments, ligation systems, medical instruments, electric surgical generation, feeding rubes/disposable catheters, minimum invasive surgery products (MIS), surgical light sources, surgical visual system, Cosgrove, endoscope, others                               

 

Clients: [Mfrs, wholesalers, hospitals] Nipro, Mutow Co, JSS Inc, Yagami Co, Hama Medical Ind, Kishiya, Masuda Ika Kikai, Towa Ika Kikai, other.  

 

No. of accounts: 500

 

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Timesco, EMS, Unomidical, Hudson RCI, V Mueller, Ansell Healthcare, ConMed Corp, AcuLux, Teleflex, Access Surgical, CV Medica, Bissinger, Nashville Surgical Instruments, Conform, other from USA, Europe, etc.

 

Payment record: Regular

 

Location: Business area in Osaka.  Office premises at the caption address are leased and maintained satisfactorily.

 

 

Bank References

 

Chugoku Bank (Osaka)

Mizuho Bank (Osaka-Chuo)

 

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

 

       Terms Ending:

31/10/2006

31/10/2005

31/10/2004

31/10/2003

Annual Sales

　

3,500

3,300

3,000

3,150

Recur. Profit

(*)　

　

          625

          210

 

Net Profit

　

160

150

130

101

Total Assets

　

　

3,900

　

3,210

Current Assets

　

　

2,550

　

2,250

Current Liabs

　

　

910

　

710

Net Worth

　

　

2,700

　

2,500

Capital, Paid-Up

　

　

30

30

30

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

6.06

10.00

-4.76

5.07

       Current Ratio

 

..

280.22

..

316.90

       N.Worth Ratio

..

69.23

..

77.88

       R.Profit/Sales

 

..

..

..

13.65

       N.Profit/Sales

4.57

4.55

4.33

3.21

       Return On Equity

..

5.56

..

4.04

 

Note: Financials are disclosed only in rounded-off figures.  B/S’s are disclosed for the 31/10/2005 & 31/10/2003 fiscal terms only.

Forecast (or estimated) for the 31/10/2006 fiscal term.

(*) Pretax profits disclosed from the Taxation Office.

 

       Terms Ending:

31/10/2006

31/10/2005

31/10/2004

31/10/2003

Annual Sales

 

3,500

3,300

3,000

3,150

Recur. Profit

 

 

 

 

430

Net Profit

 

160

150

130

101

Total Assets

 

 

3,900

 

3,210

Current Assets

 

 

2,550

 

2,250

Current Liabs

 

 

910

 

710

Net Worth

 

 

2,700

 

2,500

Capital, Paid-Up

 

 

30

30

30

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

6.06

10.00

-4.76

5.07

       Current Ratio

 

..

280.22

..

316.90

       N.Worth Ratio

..

69.23

..

77.88

       R.Profit/Sales

 

..

..

..

13.65

       N.Profit/Sales

4.57

4.55

4.33

3.21

       Return On Equity

..

5.56

..

4.04


 

RATING EXPLANATIONS

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

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

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

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