MIRA INFORM REPORT

 

 

Report Date :           

31.10.2011

 

IDENTIFICATION DETAILS

 

Name :

R-TECH UENO LTD

 

 

Registered Office :

NBF Hibiya Bldg 10F, 1-1-7 Uchisaiwaicho Chiyodaku Tokyo 100-0011

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

September 1989

 

 

Com. Reg. No.:

(Tokyo-Chiyodaku) 089756

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of Pharmaceuticals

 

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 95.8 Million

Status :

Satisfactory

Payment Behaviour :

Usually correct

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

 

R-TECH UENO LTD

 

 

REGD NAME

 

R-Tech Ueno KK

 

 

MAIN OFFICE

 

NBF Hibiya Bldg 10F, 1-1-7 Uchisaiwaicho Chiyodaku Tokyo 100-0011 JAPAN

Tel: 03-3596-8011     Fax: 03-3596-8023-

 

URL:     http://www.rtecueno.com

E-Mail address: (thru the URL)

 

 

ACTIVITIES

 

Mfg of pharmaceuticals

 

 

BRANCHES

 

Kobe

 

 

FACTORIES

 

Sanda (Hyogo)

 

 

CHIEF EXEC

 

YUKIHIKO MASHIMA, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES                    FAIR                 　A/SALES       Yen 4,204 M

PAYMENTS      REGULAR         　CAPITAL        Yen 653 M

TREND             STEADY           　WORTH         Yen 7,235 M

STARTED                     1989                 　EMPLOYES   70

 

 

COMMENT

MFG OF PHARMACEUTICALS 

FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 95.8 MILLION, 30 DAYS NORMAL TERMS

 

 

                        Forecast figures for the 31/03/2012 fiscal term.

 

 

HIGHLIGHTS

 

This is mfr/R&D supporter of pharmaceuticals in the specific fields of ophthalmology & dermatology.  “Amitiza” brand enjoys market expansion in US.  Clients include major pharmaceutical makers, hospital, university hospitals, other.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2011 fiscal term amounted to Yen 4,204 million, a 1% up from Yen 4,162 million in the previous term.  The recurring profit was posted at Yen 1,006 million and the net profit at Yen 1,248 million, respectively, compared with Yen 732 million recurring profit and Yen 666 million net profit, respectively, a year ago. 

 

(Apr/Jun/2011 results): Sales Yen 919 million (down 1.7%), operating profit Yen 264 million (up 1.5%), recurring profit Yen 266 million (up 2.9%), net proit Yen 173 million (up 6.3%).  (% compared with the corresponding period a year ago).

           

For the current term ending Mar 2012 the recurring profit is projected at Yen 1,158 million and the net profit at Yen 752 million, respectively, on a 0.8% rise in turnover, to Yen 4,239 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 95.8 million, on 30 days normal terms.

 

 

REGISTRATION

           

Date Registered           : Sept 1989

Regd No.                      : (Tokyo-Chiyodaku) 089756

Legal Status                : Limited Company (Kabushiki Kaisha

Authorized                   : 192,000 million shares

Issued                          : 98,444 shares

Sum                             : Yen 653 million

 

Major shareholders (%): S&R Technology Holdings LLC (33.2), Ryuji Ueno (16.2), Sachiko Kuno (10.1), ORIX Corp (9.0), Master Trust Bank of Japan T (3.3), Yoshihiro Mikami (2.5), Mitsubishi UFJ Capital (2.5), Nippon Life Ins (1.6), Toshiko Ueno (0.8), Barclays Capital Sec LDN Cayman (0.5); foreign owners (34.5)

 

No. of shareholders: 2,404

 

Listed on the S/Exchange (s) of: JASDAQ

 

Managements: Yukihiko Mashima, pres; Tadashi Hayashi, mgn dir; Shinya Homma, dir

 

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

 

 

OPERATION

           

Activities: Manufactures pharmaceuticals: “Rescula” eye drop (52%), “Amitiza” capsule (46&), Drug R&D Support (2%); Exports (53%).

           

Clients: [Pharmaceutical mfrs, wholesalers] Santen Pharmaceutical Co, Astellas Pharma Inc, Takeda Pharmaceutical Co, other

No. of accounts: 300

Domestic areas of activities: Nationwide

           

Suppliers: [Mfr] Nissan Chemical Ind

 

Payment record: Regular

 

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

 

Bank References:

Mizuho Bank (Shimbashi)

MUFG (Osaka-Chuo)

Relations: Satisfactory

 

 

 

 

FINANCES

(In Million Yen)

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2011

31/03/2010

INCOME STATEMENT

 

 

 

  Annual Sales

　

4,204

4,162

 

  Cost of Sales

1,349

1,358

 

      GROSS PROFIT

2,855

2,803

 

  Selling & Adm Costs

1,856

2,074

 

      OPERATING PROFIT

998

728

 

  Non-Operating P/L

8

4

 

      RECURRING PROFIT

1,006

732

　

      NET PROFIT

1,248

666

BALANCE SHEET

 

 

 

 

  Cash

　

4,741

3,196

 

  Receivables

 

477

299

 

  Inventory

 

1,440

1,690

 

  Securities, Marketable

　

　

 

  Other Current Assets

220

186

 

      TOTAL CURRENT ASSETS

6,878

5,371

 

  Property & Equipment

565

657

 

  Intangibles

 

114

146

 

  Investments, Other Fixed Assets

836

869

 

      TOTAL ASSETS

8,393

7,043

 

  Payables

 

125

77

 

  Short-Term Bank Loans

　

　

 

　

 

　

　

 

  Other Current Liabs

765

664

 

      TOTAL CURRENT LIABS

890

741

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

　

　

 

  Reserve for Retirement Allw

32

23

 

  Other Debts

　

335

120

 

      TOTAL LIABILITIES

1,257

884

 

      MINORITY INTERESTS

 

 

 

Common stock

653

653

 

Additional paid-in capital

593

593

 

Retained earnings

5,505

4,454

 

Evaluation p/l on investments/securities

482

457

 

Others

 

2

2

 

Treasury stock, at cost

　

　

 

      TOTAL S/HOLDERS` EQUITY

7,235

6,159

　

      TOTAL EQUITIES

8,493

7,043

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2011

31/03/2010

 

Cash Flows from Operating Activities

　

1,819

1,369

 

Cash Flows from Investment Activities

-2,756

261

 

Cash Flows from Financing Activities

-200

-822

　

Cash, Bank Deposits at the Term End

　

2,041

3,196

ANALYTICAL RATIOS            Terms ending:

31/03/2011

31/03/2010

 

 

Net Worth (S/Holders' Equity)

7,235

6,159

 

 

Current Ratio (%)

772.81

724.83

 

 

Net Worth Ratio (%)

85.19

87.45

 

 

Recurring Profit Ratio (%)

23.93

17.59

 

 

Net Profit Ratio (%)

29.69

16.00

 

 

Return On Equity (%)

17.25

10.81

           


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.82

UK Pound

1

Rs.78.57

Euro

1

Rs.69.29

 

 

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.