MIRA
INFORM REPORT
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Report Date : |
17.06.2011 |
IDENTIFICATION DETAILS
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Name : |
YOSHINDO INC |
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Registered Office : |
3697-8 Hagishima Fuchumachi Toyama
939-2723 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2009 |
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Date of Incorporation : |
May 1962 |
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Com. Reg. No.: |
(Toyama-Toyama) 004965 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of prescription drugs |
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 178.0 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Name and address
YOSHINDO INC
REGD NAME: KK
Yoshindo
MAIN OFFICE: 3697-8
Hagishima Fuchumachi Toyama 939-2723 JAPAN
Tel: 076-465-7777 Fax: 076-465-7780
URL: http://www.yoshindo.co.jp/
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of
prescription drugs
BRANCHES
Nil
FACTORIES
At the caption
address
OFFICER(S)
KENZO SHIMOMURA,
PRES Shuji Ohkawa, dir
Katsuaki Katoh,
dir Masao
Koyama, dir
Kiyofumi Yoshida,
dir Yoji
Shimomura, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 9,761 M
PAYMENTS REGULAR CAPITAL Yen 300 M
TREND STEADY WORTH Yen
3,450 M
STARTED 1962 EMPLOYES 3500
COMMENT
MFR SPECIALIZING IN PRESCRIPTION DRUGS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN
178.0 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established
originally in 1929 by Kamejiro Shimomura in order to produce OTC medicines in
Toyama, on his account. Incorporated in 1962,
the firm has been succeeded by his descendants.
Kenzo Shimomura, a graduate of Medical College, is the third generation
master, who assumed the pres office in 1983.
The firm specializes in mfg generic drugs & intermediates, health
foods, etc. Also offers PEM production
services. Facilities include mfg of
granules, powders, capsules, uncoated tablets, sugar-coated tablets,
film-coated tablets, internal & external fluids, other. In 1973, started production of Chlorella and
other health foods. In 1979, began
exports to Taiwan. The existing factory
was constructed in 1986. Goods are
shipped to major pharmaceutical mfrs nationwide.
FINANCIAL INFORMATION
The sales volume for Apr/2010 fiscal
term amounted to Yen 9,761 million, a 12% up from Yen 8,705 million in the
previous term. This was thanks to the
steep rise for generic drugs & ingredients, plus health foods. OEM products in large lots also expanded. The net profit was posted at Yen 764 million,
up from Yen 686 million a year ago.
For the term that ended Apr 2011 the net
profit was projected at Yen 800 million, on a 10% rise in turnover, to Yen
10,700 million. Final results are yet to
be released. OEM production of generic
drugs and health foods will grow.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 178.0 million, on 30 days normal
terms.
REGISTRATION
Date Registered:
May 1962
Regd No.:
(Toyama-Toyama) 004965
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2.4 million shares
Issued: 800,000 shares
Sum: Yen 300 million
Major
shareholders (%): Nagoya Small & Medium Business Investment & Consultation (11),
Kenzo Shimomura (7), Employees’ S/Holding Assn (3)
No. of shareholders: 20
Nothing
detrimental is knows as to the commercial morality of executives.
OPERATION
Activities: Manufactures
generic drug materials & intermediates, ingredients, health foods, others,
including OEM production (--100%).
Facilities include such equipment as to
manufacture: granules, powders, capsules, uncoated tablets, sugar-coated
tablets, film-coated tablets, internal & external fluids, others.
Goods are also imported and exported.
Clients: [Pharmaceutical
mfrs] Takeda Chemical Ind, Toyo Pharma, Nichiiko Pharmaceutical, Nippon Bulk
Yakuhin, Dainippon Sumitomo Pharma, Sankei Yakuhin, Shiono Chemical, Nihon
Generic Co, Koa Shoji Co, Fuji Capsule Co, Genepha Tohoku, other.
No. of accounts:
2,000
Domestic areas of
activities: Nationwide
Suppliers:
[Mfrs,
wholesalers] Kongo Yakuhin, Toyo Pharma, Nippon Bulk Yakuhin, Choseido
Pharmaceutical, Koa Shoji Co, Chemix Inc, other.
Payment record: Regular
Location: Business area in
Toyama City. Office premises at the
caption address are owned and maintained satisfactorily.
Bank
References:
Hokuriku Bank
(H/O)
Mizuho Bank
(Toyama)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
30/04/2010 |
30/04/2009 |
30/04/2008 |
30/04/2007 |
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Annual
Sales |
|
9,761 |
8,705 |
6,370 |
6,000 |
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Recur.
Profit |
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Net
Profit |
|
764 |
686 |
171 |
290 |
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Total
Assets |
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9,326 |
8,161 |
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Current
Assets |
|
|
5,314 |
4,263 |
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Current
Liabs |
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|
3,552 |
2,614 |
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Net
Worth |
|
3,450 |
2,916 |
2,274 |
2,155 |
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Capital,
Paid-Up |
|
300 |
300 |
300 |
300 |
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Div.P.Share(¥) |
|
50.00 |
50.00 |
50.00 |
50.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
12.13 |
36.66 |
6.17 |
20.00 |
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Current Ratio |
|
.. |
149.61 |
163.08 |
.. |
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N.Worth Ratio |
.. |
31.27 |
27.86 |
.. |
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R.Profit/Sales |
|
.. |
.. |
.. |
.. |
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N.Profit/Sales |
7.83 |
7.88 |
2.68 |
4.83 |
|
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Return On Equity |
.. |
23.53 |
7.52 |
13.46 |
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Notes: Fixed
figures for the 30/04/2010 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.90 |
|
|
1 |
Rs.72.54 |
|
Euro |
1 |
Rs.63.39 |
RATING EXPLANATIONS
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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 |
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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 |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.