MIRA INFORM REPORT

 

 

Report Date :           

10.12.2011

 

IDENTIFICATION DETAILS

 

Name :

AMCO INCORPORATED 

 

 

Registered Office :

4-8-7 Iidabashi Chiyodaku Tokyo 102-0072

 

 

Country :

Japan

 

 

Financials (as on) :

31.07.2011

 

 

Date of Incorporation :

January 1951

 

 

Com. Reg. No.:

(Tokyo-Chiyodaku) 010255

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of medical devices, scientific instruments

 

 

No. of Employees :

146 persons

 

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 236.9 Million

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

----

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

AMCO INCORPORATED

 

 

REGD NAME

 

KK Amco

 

 

MAIN OFFICE

 

4-8-7 Iidabashi Chiyodaku Tokyo 102-0072 JAPAN

Tel: 03-3265-4262     Fax: 03-3265-4271

 

URL:                 www.amco.co.jp  

E-mail:             info@amco.co.jp             

 

 

ACTIVITIES  

 

Import, wholesale of medical devices, scientific instruments

 

 

BRANCHES   

 

Osaka, Nagoya, Fukuoka, Sapporo, Sendai, Hiroshima

 

 

OFFICER(S)  

 

YOICHIRO SAKATA, PRES        Akihiro Kosugou, s/mgn dir

Seiji Yamada, mgn dir                Makoto Ishihara, mgn dir

Teruo Hayashi, dir                      Kenzo Watanabe, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 7,717 M

PAYMENTS      REGULAR         CAPITAL           Yen 84 M

TREND             STEADY           WORTH            Yen 3,662 M

STARTED                     1951                 EMPLOYES      146

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN MEDICAL & SCIENTIFIC DEVICES. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$100,000 / O/A 60 DAYS

 

MAX CREDIT LIMIT: YEN 236.9 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by father of Yoichiro Sakata for importing medical devices from USA.  This is a trading firm specializing in importing and wholesaling medical devices & diagnostics, scientific equipment & devices, other (See OPERATION).  In 1967 imported artificial kidney apparatus for the first time in Japan.  Goods are imported from USA, Germany, other.  Clients include public hospitals, university hospitals, municipal hospitals, other, nationwide.  6 branch offices cover the domestic markets.

 

 

FINANCIAL INFORMATION

 

The sales volume for July/2011 fiscal term amounted to Yen 7,717 million, a 10% up from Yen 6,986 million in the previous term.  Ballooning elderly population needing medical treatment are increasing.  Artificial kidney apparatus & dialysis treatment increased.  Demand rose from day-care centers for the elderly.  Emergency imports rose after the North Japan Earthquake.  The recurring profit was posted at Yen 1,377 million and the net profit at Yen 346 million, respectively, compared with Yen 862 million recurring profit and Yen 214 million net profit, respectively, a year ago.

 

For the current term ending July 2012 the recurring profit is projected at Yen 1,400 million and the net profit at Yen 350 million, respectively, on a 5% rise in turnover, to Yen 8,100 million.  Medical devices & diagnostics are steady growing.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 236.9 million, on 30 days normal terms.  The proposed amount for 60 days is considered well within the firm’s financial capacities.

 

REGISTRATION

 

Date Registered:  Jan 1951

Regd No.:        (Tokyo-Chiyodaku) 010255

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　670,000 shares

Issued:             　168,480 shares

Sum:                　Yen 84.24 million

 

Major shareholders (%): Yoichiro Iida (15), Akihiro Kosugou (10), Seiji Yamada (10), Kimiyoshi Aizawa (9)

 

No. of shareholders: 30

 

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

 

 

OPERATION

 

Activities: Imports and wholesales medical devices & diagnostics (80%), scientific equipment & devices, other (20%).  (% is all about)

 

Medical devices & diagnostics: cautery knife, organ plasma coagulator, operating table, full automatic aeroperitoria device, forceps, endoscope, trocal canula, headlight system, blood collecting device, osmometer, organs preservation facility, ECG electrode, blood pressure gauge, hemoglobin locator, pulse oximeter, MDI spacer, urination measuring instrument, fiberscope trocar, urine collector, headlight system, balloon dilator, other;

 

Scientific devices/equipment: elemental analyzer, full automatic microgen/protein identificator, surface area measuring device, ultrasonic level meter, field fluorescent photometer, bacteriopexy system, microbiogical accuracy control system, analrobic culture chamber system, sterilization indicator, scanalyzer, imaging flowcytmeter, environmental instruments, other. , 

 

Clients: [Mfrs, wholesalers] Mutoh Group, Miyano Medical Instruments, Yagami Co, Kyowa Medical Holdings, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Elbe, Konica Minolta, Fresenius Medical Care Japan, Integra, Steris Japan, Alpen Japan, Boston Scientific, Cobe Laboratories, Puritan Benette, Vitek Systems, other

 

Payment record: Regular

 

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

 

Bank References:

·         Mizuho Bank (Iidabashi)

·         SMBC (Ueno)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/07/2012

31/07/2011

31/07/2010

31/07/2009

Annual Sales

　

8,100

7,717

6,986

6,874

Recur. Profit

　

1,400

1,377

862

445

Net Profit

　

350

346

214

128

Total Assets

　

　

7,305

6,388

6,339

Current Assets

　

　

5,981

5,186

5,046

Current Liabs

　

　

1,833

1,865

2,266

Net Worth

　

　

3,662

2,882

2,377

Capital, Paid-Up

　

　

84

84

84

Div.P.Share(¥)

　

　

　        0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.96

10.46

1.63

10.11

    Current Ratio

 

..

326.30

278.07

222.68

    N.Worth Ratio

..

50.13

45.12

37.50

    R.Profit/Sales

 

17.28

17.84

12.34

6.47

    N.Profit/Sales

4.32

4.48

3.06

1.86

    Return On Equity

..

9.45

7.43

5.38

 

Notes: Forecast (or estimated) figures for the 31/07/2012 fiscal term. 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.23

UK Pound

1

Rs.81.55

Euro

1

Rs.69.60

 

 

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

Capability to overcome financial difficulties seems comparatively below average.

 

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.