MIRA INFORM REPORT
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Report Date : |
06.05.2011 |
IDENTIFICATION DETAILS
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Name : |
RIGAKU CORPORATION |
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Registered Office : |
3-9-12 Matsubaracho Akishima Tokyo-Metrop 196-8666 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
December 1951 |
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Com. Reg. No.: |
(Tokyo-Akishima) 002680 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of X-ray systems,
analytical instruments |
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 1,140.9 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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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Japan |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
Company name
RIGAKU CORPORATION
REGD NAME
KK Rigaku
MAIN OFFICE
3-9-12 Matsubaracho
Akishima Tokyo-Metrop 196-8666 JAPAN
Tel:
042-545-8111 Fax: 042-544-9795
URL: http//:www.rigaku.co.jp
E-mail: (thru
the URL)
ACTIVITIES
Mfg of
X-ray systems, analytical instruments, other
BRANCHES
Osaka,
Sendai*
*.. Damaged
by the Great East Japan Earthquake but resumed operations.
OVERSEAS
USA
(4), Europe (3), China (3) (--subsidiaries)
FACTORIES
At the
caption address, Osaka, Yamanashi
OFFICER(S)
HIKARU
SHIMURA, PRES Shojiro Asai, v pres
Hiroshi
Akiyama, dir Tohru
Matsumoto, dir
Yoshiaki
Watanabe, dir Toshihiko
Kuriaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 26,580 M
PAYMENTS REGULAR CAPITAL Yen 400 M
TREND SLOW WORTH Yen
23,461 M
STARTED 1951 EMPLOYES 1,328
COMMENT
MFR OF
X-RAY SYSTEMS, OTHER SCIENTIFIC INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 1,140.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1923 by a certain
Shimura and has been succeeded by the present executives. This is a leading mfr of analytical X-ray
systems for elemental analysis, materials, research and structural
investigations, commanding 70% market share in this field. Mfg products include: automation &
robotics, evolved gas analysis, software, thermal analysis, vacuum feed
through, other. Has overseas
subsidiaries in USA, Europe and China.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 26,580
million, a 12.6% down from Yen 30,427 million in the previous term. Sales were substantially affected by the
global economic downturn, particularly in the first half of the term. The high Yen hurt export revenues &
profits in Yen terms. The recurring
profit was posted at Yen 1,238 million and the net profit at Yen 426 million,
respectively, compared with Yen 2,341 million recurring profit and Yen 1,206
million net profit, respectively, a year ago.
(Apr/Sept/2010 results): Sales Yen 14,163 million (up 15.4%), recurring
profit Yen 636 million (up 434%), net profit Yen 278 million (previously Yen 48
million losses). (% & figures
compared with corresponding period a year ago).
This was supported by the robust demand from China, India and other S/E
Asian countries.
For the term that ended Mar 2011 the recurring profit was projected at
Yen 1,300 million and the net profit at Yen 450 million, on an 11% rise in
turnover, to Yen 29,500 million. Final
results are yet to be released. The
impact of the recent earthquake was minimal, says the firm.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 1,140.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec 1951
Regd No.: (Tokyo-Akishima) 002680
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 3.2
million shares
Issued: 1,157,095
shares
Sum: Yen 400 million
Major shareholders (%): Akira Shimura (42.0), KK Asuka
(12.6), Takane Shimura (6.6), Maruaru Kai (3.9), other
No. of shareholders: 152
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
analytical X-ray systems: X-ray diffraction (XRD), X-ray fluorescence, single
crystal X-ray diffraction, small angle X-ray scattering, other (--94%);
analytical/research instruments: automation robotics, vacuum feed through
components, other (6%).
Overseas Sales
Ratio (39.9%): N Americas 16.3%, Asia
13.7%, other 9.9%
Clients: [Mfrs,
wholesalers] Rigaku, Rigaku MSC, Rigaku Electric Ind, other
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Rigaku Yamanashi, Materials Data, Toshiba Medical Supply Co, Nap
Ltd, Origin Electric Co, San-Eon Giken Co, other
Payment record: Regular
Location: Business area in
Akishima City, Tokyo-Metrop. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho
Bank (Marunouchi)
MUFG
(Mitaka)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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29,500 |
26,580 |
30,427 |
35,652 |
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Recur.
Profit |
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1,300 |
1,238 |
2,341 |
4,578 |
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Net
Profit |
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450 |
426 |
1,206 |
2,185 |
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Total
Assets |
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35,386 |
35,482 |
38,903 |
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Current
Assets |
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27,718 |
26,983 |
30,966 |
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Current
Liabs |
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10,039 |
10,435 |
15,198 |
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Net
Worth |
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23,461 |
23,209 |
21,585 |
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Capital,
Paid-Up |
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400 |
400 |
400 |
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Div.P.Share(¥) |
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50.00 |
75.00 |
75.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
10.99 |
-12.64 |
-14.66 |
8.69 |
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Current Ratio |
|
.. |
276.10 |
258.58 |
203.75 |
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N.Worth Ratio |
.. |
66.30 |
65.41 |
55.48 |
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R.Profit/Sales |
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4.41 |
4.66 |
7.69 |
12.84 |
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N.Profit/Sales |
1.53 |
1.60 |
3.96 |
6.13 |
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Return On Equity |
.. |
1.82 |
5.20 |
10.12 |
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Notes:
Forecast (or estimated) figures for the 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.57 |
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UK Pound |
1 |
Rs.73.58 |
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Euro |
1 |
Rs.66.23 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.