MIRA
INFORM REPORT
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Report Date : |
29.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
HORII PHARMACEUTICAL INDUSTRIES LTD |
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Registered Office : |
1-2-6 Uchiawajimachi Chuoku Osaka 540-0038 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
May 1947 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures pharmaceuticals, health foods, medical
supplies and |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
YEN 157.2 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
HORII PHARMACEUTICAL INDUSTRIES LTD
REGD NAME: Horii Yakuhin Kogyo KK
MAIN OFFICE: 1-2-6 Uchiawajimachi
Chuoku Osaka 540-0038 JAPAN
Tel:
06-6942-3481 Fax: 06-6943-1250
URL: http://www.horii-pharma.co.jp/
E-Mail address:gyomu@horii-pharma.co.jp
ACTIVITIES
Mfr of pharmaceuticals, health foods
BRANCHES
Tokyo, Higashi-Osaka, Osaka, Amagasaki, Hiroshima,
Hamamatsu, Nagoya, Fukuoka, Kanazawa,
Sagamihara, Saitama, Sendai, Niigata, Sapporo
FACTORY(IES)
At the caption address
OFFICER(S)
Hajime Horii, ch
MASANORI HORII, PRES
Atsushi Matsumura, dir
Yukio Kawakami, dir
Hiroshi Matoba, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,735 M
PAYMENTS REGULAR CAPITAL Yen 108 M
TREND STEADY WORTH Yen 3,746 M
STARTED 1947 EMPLOYES 164
COMMENT
MFR OF PHARMACEUTICALS, HEALTH FOODS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 157.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Hajime Horii in order to make most of his experience in the subject line of business. This is an mfr of pharmaceuticals, health foods, medical supplies, other. Has 16 branches for marketing the products. Clients include major pharmaceutical mfrs.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 3,735 million, a 1.4% up from Yen 3,685 million in the previous term. The profits worsened due to the hike in materials & fuel costs. The recurring profit was posted at Yen 31 million and the net profit a Yen 13 million, respectively, compared with Yen 111 million recurring profit and Yen 63 million net profit, respectively, a year ago.
For the term that ended Mar 2008 the recurring profit was projected at Yen 30 million and the net profit at Yen 12 million, respectively, on a 3% rise in turnover, to Yen 3,850 million. Final figures are yet to e disclosed.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 157.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: May 1947
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2 million shares
Issued: 2.16million shares
Sum: Yen 108 million
Major shareholders (%)
Masanori Horii (26), Hajime Horii (25), Hiroko Yagi (12), Noboru
Yamamoto (3), Employees’ S/Holding Assn (3)
No. of shareholders: 21
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures pharmaceuticals, health foods, medical supplies & equipment (--100%);
Clients
[Mfrs, wholesalers] Alfresa Corp, Mediceo Paltac Holdings, Suzuken Co, Elk Corp, Toho Pharmaceutical, other
No. of accounts
500
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Ezaki Glico Co, Maruishi Pharmaceutical, Fuji Chemical Ind, Shinko Chemical, other.
Payment record
Regular
Location
Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Resona Bank (Osaka)
Ogaki Kyoritsu Bank (Osaka)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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3,850 |
3,735 |
3,685 |
3,657 |
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Recur.
Profit |
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30 |
31 |
111 |
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Net
Profit |
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12 |
13 |
63 |
108 |
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Total
Assets |
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4,328 |
4,354 |
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Current
Assets |
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3,569 |
3,571 |
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Current
Liabs |
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573 |
560 |
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Net
Worth |
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3,746 |
3,781 |
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Capital,
Paid-Up |
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108 |
108 |
108 |
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Div.P.Share(¥) |
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10.00 |
10.00 |
10.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.08 |
1.36 |
0.77 |
-0.38 |
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Current Ratio |
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.. |
622.86 |
637.68 |
.. |
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N.Worth Ratio |
.. |
86.55 |
86.84 |
.. |
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R.Profit/Sales |
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0.78 |
0.83 |
3.01 |
.. |
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N.Profit/Sales |
0.31 |
0.35 |
1.71 |
2.95 |
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Return On Equity |
.. |
0.35 |
1.67 |
.. |
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Notes: Forecast (or estimated) figures for the 31/03/2008
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. |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)