MIRA
INFORM REPORT
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Report Date : |
06.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
NIPPON FUNMATSU YAKUHIN CO LTD |
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Registered Office : |
2-5-11 Doshomachi Chuoku Osaka 541-0045 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
September 1947 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Herbal Medicines Ingredients and Intermediates,
Health Foods, Cosmetic Materials |
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 108.6 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
NIPPON FUNMATSU
YAKUHIN CO LTD (YAKUHIN means PHARMACEUTICAL)
REGD NAME: Nippon Funmatsu Yakuhin KK
MAIN OFFICE: 2-5-11 Doshomachi Chuoku Osaka 541-0045 JAPAN
Tel:
06-6201-3801 Fax: 06-6222-4031
E-Mail
address: info@nfy.co.jp
ACTIVITIES
Mfg of herbal medicines ingredients & intermediates,
health foods, cosmetic materials
BRANCHES
Tokyo
FACTORY(IES)
Osaka (3), Mie (1)
OFFICER(S)
SHOICHI KUWANO, PRES
Kunihiko Atarashi, dir
Yoshihiko Miyakawa, dir
Hiroyuki Wada, dir
Yen
Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES GOOD A/SALES Yen 6,054 M
PAYMENTS REGULAR CAPITAL Yen
60 M
TREND STEADY WORTH Yen
18,860 M
STARTED 1947 EMPLOYES 94
COMMENT
MFR OF CRUDE DRUGS & CHINESE HERBAL MEDICINES.
FINANCIAL SITUATION CONSIDERED GOOD AND RESPONSIBLE FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 108.6 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was
established by Teruichi Kuwano in order to make most of his experience in the
subject line of business. Shoichi is
the founder’s son, who took the pres office in Mar 1996. This firm is wholly owned and operated by the
Kuwano family, specializing in mfg intermediates, ingredients & materials
for herbal medicines, health foods (herb-based) and cosmetics. 70% of the materials & ingredients for
mfg are directly imported from India, China, Taiwan, Korea, other. Also imported through general trading
houses. Domestic clients are major
pharmaceutical mfrs, nationwide.
Medicines are produced at four factories.
FINANCIAL INFORMATION
The
sales volume for Mar/2008 fiscal term amounted to Yen 6,054 million, a slight
down from Yen 6,092 million in the previous term. The net profit was posted at Yen 768 million, compared with Yen
904 million a year ago. The rising
material prices and fuel oils ate into profits.
For
the current term ending Mar 2009 the net profit is projected at Yen 770million,
on a 2% rise in turnover, to Yen 6,200 million. Demand for health foods and natural cosmetics will expand.
The
financial situation is considered GOOD and responsible for ORDINARY business
engagements. Max credit limit is
estimated at Yen 108.6 million, on 30 days normal terms.
REGISTRATION
Date Registered:
Sept 1947
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 480,000
shares
Issued: 120,000
shares
Sum: Yen
60 million
Major shareholders (%)
Shoichi Kuwano (42)
No. of
shareholders: 4
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures intermediates &
ingredients for herbal medicines, health foods and cosmetics (--100%)
(Items manufactured):
For pharmaceuticals: dried extracts, extracts, fluid extracts,
disinfect powder, tincture, etc;
For Health Foods: extract powder, fluid extracts, other.
Manufacturing materials are
imported from China, India, Korea, Taiwan, other.
Clients
[Pharmaceutical mfrs] Chugai Pharmaceutical, Mitsubishi Tanabe Pharma,
Tanabe Chemical Corp, SSP Co, Astellas Pharma, Kowa Co, Kurace Seiyaku, Daiichi
Sangyo Healthcare, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Imports from
China, Taiwan, India, Korea, other (--70%).
Domestically supplied from
Economic Federations of Hyogo-Pref, Nagano-Pref and Kochi-Pref, Zen-Noh, Itochu
Corp, other.
Payment
record: Regular
Location:
Business area in Osaka. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References
Mizuho Bank (Minami-Semba)
MUFG (Kawaramachi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2009 |
31/03/2008 |
31/03/2007 |
31/03/2006 |
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Annual
Sales |
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6,200 |
6,054 |
6,092 |
6,235 |
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Recur.
Profit |
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Net
Profit |
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770 |
768 |
904 |
859 |
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Total
Assets |
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N/A |
N/A |
19,847 |
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Net
Worth |
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18,860 |
18,100 |
17,204 |
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Capital,
Paid-Up |
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60 |
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Div.P.Share(¥) |
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5.00 |
5.00 |
5.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.41 |
-0.62 |
-2.29 |
-0.54 |
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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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86.68 |
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N.Profit/Sales |
12.42 |
12.69 |
14.84 |
13.78 |
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Notes: Financials are only partially disclosed.
The firm disclosed digested financials for the 31/03/2006
fiscal term only.
Forecast (or estimated) figures for the 31/03/2009 fiscal
term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.67 |
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UK Pound |
1 |
Rs.75.47 |
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Euro |
1 |
Rs.61.19 |
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%)