MIRA INFORM REPORT
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Report Date : |
15.10.2011 |
IDENTIFICATION DETAILS
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Name : |
TEIKOKU SEIYAKU CO LTD |
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Registered Office : |
567 Sanbonmatsu Higashi-Kagawa Kagawa-Pref
769-2695 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
May 1918 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of poultices |
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 1,371.5 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 – 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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
TEIKOKU SEIYAKU CO LTD
REGD NAME
Teikoku Seiyaku KK
MAIN OFFICE
567 Sanbonmatsu
Higashi-Kagawa Kagawa-Pref 769-2695 JAPAN
Tel:
0879-25-2221 Fax: 0879-24-1555
E-Mail address: (thru the URL to each division)
ACTIVITIES
Mfg of
poultices
BRANCHES
Tokyo,
Osaka
OVERSEAS
Teikoku
Pharma USA Inc, Teikoku Pharma UK Ltd, China (--subsidiaries)
FACTORIES
Kagawa,
Tokushima (2)
OFFICERS
Shozo
Akazawa, owner MISAKO
FUJIOKA, PRES
Shinji
Sano, v pres Akihito
Oji, s/mgn dir
Masahisa
Kitagawa, s/mgn dir Tomomi
Tada, mgn dir
Yen
Amount: In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 26,622 M
PAYMENTS REGULAR CAPITAL Yen 122 M
TREND SLOW WORTH Yen 48,983 M
STARTED 1918 EMPLOYES 680
COMMENT
MFR OF POULTICES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 1,371.5
MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
This an old-established mfr of medical & medical-related supplies
dating back to 1848 when Shoo Akazawa obtained a certificate from the
Government to deal in medicines and started business, on his own. Incorporated in 1918 the firm has been
succeeded by his descendants. This is a
specialized mfg of medicated plasters (See OPERATION). Pioneer of medicated plasters and tops in the
world in the specific mfg items. Has
three overseas subsidiaries in USA, UK and China, to engage in the
sales/marketing. 50% of the products are
exported. Clients include major
pharmaceutical makers, wholesalers, drug stores, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Dec/2010 fiscal term amounted to Yen 26,622
million, a 2% down from Yen 27,242 million in the previous term, as affected by
the global economic downturn, particularly in the first half of the term. Export revenues decreased in Yen terms by the
high Yen. The recurring profit was posted at Yen 6,906 million and the net
profit at Yen 3,971 million respectively, compared with Yen 6,173 million
recurring profit and Yen 3,675 million net profit, respectively, a year ago.
For the current term ending Dec 2011 the recurring profit is projected
at Yen 7,000 million and the net profit at Yen 4,000 million, respectively, on
a 5% rise in turnover, to Yen 28,000 million.
Sales are brisk in China, as reported.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 1,371.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: May 1918
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 9
million shares
Issued: 2.45 million shares
Sum: Yen 122 million
Major shareholders (%): Shozo Akazawa, other (Breakdown
unavailable)
No. of shareholders: 97
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
poultices (hot sensation plasters, analgesic & anti-inflammatory plaster,
other) (91%), generic drugs (6%), others (3%).
Exports (50%)
Clients: [Pharmaceutical
mfrs, wholesalers] Dainippon Sumitomo Pharma co, Pfizer Japan, Lion Corp,
Nichi-Iko Pharmaceutical Co, Teikoku Pharma Care Co, Teikoku Pharma USA Inc,
other
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Teikoku Kanpo Seiyaku, OG Corp, Japan Vilene Co, Oishi Koseido Co,
Teisan Co, other
Payment record: Regular
Location:
Business area in Higashi-Kagawa City, Kagawa-pref. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References:
· Hyakujushi Bank (Sanbonmatsu)
· Mizuho Bank (Takamatsu)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
|
Annual
Sales |
|
28,000 |
26,622 |
27,242 |
32,935 |
|
Recur.
Profit |
|
7,000 |
6,906 |
6,173 |
7,172 |
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Net
Profit |
|
4,000 |
3,971 |
3,675 |
5,152 |
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Total
Assets |
|
|
58,334 |
53,985 |
51,699 |
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Current
Assets |
|
|
44,874 |
40,488 |
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Current
Liabs |
|
|
7,097 |
6,651 |
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Net
Worth |
|
|
48,983 |
45,085 |
41,532 |
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Capital,
Paid-Up |
|
|
122 |
122 |
122 |
|
Div.P.Share(¥) |
|
|
50.00 |
50.00 |
50.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.18 |
-2.28 |
-17.29 |
5.53 |
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Current Ratio |
|
.. |
632.30 |
608.75 |
.. |
|
N.Worth Ratio |
.. |
83.97 |
83.51 |
80.33 |
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R.Profit/Sales |
|
25.00 |
25.94 |
22.66 |
21.78 |
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N.Profit/Sales |
14.29 |
14.92 |
13.49 |
15.64 |
|
|
Return On Equity |
.. |
8.11 |
8.15 |
12.40 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
|
UK Pound |
1 |
Rs.77.42 |
|
Euro |
1 |
Rs.67.72 |
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 |
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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.