MIRA INFORM REPORT

 

 

Report Date :

03.09.2011

 

IDENTIFICATION DETAILS

 

Name :

MERCK LTD

 

 

Registered Office :

Arco Tower 5F, 1-8-1 Shimomeguro Meguroku Tokyo 153-8927

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

February 1968

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of Liquid Crystals, Pigments, Reagents, Pharmaceuticals.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

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, 2010

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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

 

MERCK LTD JAPAN

 

REGD NAME:    Merck KK

 

 

MAIN OFFICE

 

Arco Tower 5F, 1-8-1 Shimomeguro Meguroku Tokyo 153-8927 JAPAN

Tel: 03-5434-4700   

Fax: 03-5434-4705

 

URL:                 http://www.merck.co.jp/

E-Mail address:            merck@merck.co.jp

 

 

ACTIVITIES

 

Import, wholesale of liquid crystals, pigments, reagents, pharmaceuticals

 

 

BRANCHES

 

Osaka, Atsugi

 

 

FACTORIES:     Onahama (Fukushima-Pref), Atsugi

 

 

OFFICER(S)

 

KARL ROESER, PRES                          Hiroshi Ashizawa, dir

Ikuko Kajikawa, dir                                 Koji Okamoto, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                             A/SALES          Yen 38,490 M

PAYMENTS      REGULAR                     CAPITAL           Yen 2,100 M

TREND SLOW                          WORTH            Yen 16,611 M

STARTED         1968                             EMPLOYES      492

 

COMMENT    

 

IMPORTER AND WHOLESALER SPECIALIZING IN INDUSTRIAL CHEMICALS & PHARMACEUTICALS, OWNED BY MERCK GMBH, GERMANY.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

The subject company was established by Merck KGaA, Germany, originally for marketing in Japan the products manufactured by Merck group firm.  Now the firm not only sells products of the group, but also researches, develops and manufactures the products.  The core products are: liquid crystals, pigments, reagents, other life science products.  Products are also exported. 

           

 

FINANCIAL INFORMATION

 

The sales volume for Dec/2010 fiscal term amounted to Yen 38,490 million, a 24% up from Yen 30,988 million in the previous term.  Market revived with robust industrial/mfg activities.  The last term was substantially affected by the global economic downturn.  The recurring profit was posted at Yen 5,696 million and the net profit at Yen 3,471 million, respectively, compared with Yen 3,019 million recurring profit and Yen 1,868 million net profit, respectively, a year ago.

 

For the current term ending Dec 2011 the recurring profit is projected at Yen 6,000 and the net profit at Yen 3,700 million, respectively, on a 7% rise in turnover, to Yen 41,000 million.  Business is steadily expanding.  Exports are robust.  Profits may be eroded by the high Yen.

           

The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,346.0 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Feb 1968

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         210,000 shares

Issued:                210,000 shares

Sum:                   Yen 2,100 million

Major shareholders (%): Merck Internationale Beteiligungen GmbH, Germany (82), Merck  KGaA, Germany (18)

No. of shareholders: 2

 

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

 

OPERATION

 

Activities: Imports, researches, develops, manufactures and wholesales liquid crystals, pigments for industrial use, optical & energy related materials (vacuum vapor deposition chemicals, high temperature superconductivity materials), Specialty chemicals (cosmetic raw materials, pharmaceuticals bulks & intermediates, food additives & natraceuticals, Custom synthesis & services), reagents (chromatography related products, environmental analysis/microbiology/microscopy, life science related products, general analytical reagents), pharmaceuticals (auto-hypertensive drugs, anti-cancer drugs, supplementary treatment of anaphylactic reactions), others (--100%).

 

Clients: [Mfrs, pharmaceutical mfrs, wholesalers] Merck KGaA, Tanabe Seiyaku, Sharp Corp, Morishita & Co, Yamamoto Trading, other.

No. of accounts: 300

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Merck KGaA and group firms.

 

Payment record: Regular

 

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

 

Bank References

 

Deutche Bank (Tokyo)

MUFG (Meguro-Ekimae)

Relations: Satisfactory


 

FINANCES

 

(In Million Yen)

 

       Terms Ending:

31/12/2011

31/12/2010

31/12/2009

31/12/2008

Annual Sales

　

41,000

38,490

30,988

52,353

Recur. Profit

　

6,000

5,696

3,019

6,950

Net Profit

　

3,700

3,471

1,868

4,236

Total Assets

　

　

30,003

26,547

37,138

Current Assets

　

　

21,232

16,953

26,922

Current Liabs

　

　

10,294

9,448

21,390

Net Worth

　

　

16,611

14,040

12,671

Capital, Paid-Up

　

　

2,100

2,100

2,100

Div.Ttl in Million(¥)

　

　

900

500

3500

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

6.52

24.21

-40.81

-2.08

    Current Ratio

 

..

206.26

179.43

125.86

    N.Worth Ratio

..

55.36

52.89

34.12

    R.Profit/Sales

 

14.63

14.80

9.74

13.28

    N.Profit/Sales

9.02

9.02

6.03

8.09

    Return On Equity

..

20.90

13.30

33.43

 

Notes: Forecast figures for the 31/12/2011 Fiscal Term. 

 

           

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.89

UK Pound

1

Rs.74.31

Euro

1

Rs.65.40

 

 

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.