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Report Date : |
13.12.2012 |
IDENTIFICATION DETAILS
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Name : |
FRIGZ MEDICO JAPAN CO LTD |
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Registered Office : |
6-23-6 Minami-Nagareyama Nagareyama Chiba-Pref 270-0163 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2011 |
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Date of Incorporation : |
September, 2001 |
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Reg. No.: |
0400-01-037457 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of medical/surgical instruments |
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No. of Employees : |
9 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
japan - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
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Source : CIA |
FRIGZ MEDICO JAPAN
CO LTD
Nippon Frigz Medico KK
6-23-6 Minami-Nagareyama Nagareyama Chiba-Pref 270-0163 JAPAN
Tel: 04-7158-5155 Fax:
04-7158-5157
URL: http://www.1.kal.koalanet.co.jp
E-Mail address: frigzmj@kal.koalanet.co.jp
Import, wholesale of medical/surgical instruments
Nil
Pakistan, Germany, Turkey (Parent’s factories)
Pakistan, Germany, Turkey (of the Parent)
TAEKO EBIHARA, PRES
Naoki Ebihara, dir
Main Huhammad Riaz, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 157 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 33 M
TREND UP WORTH Yen 62 M
STARTED 2001 EMPLOYES 9
IMPORTER OF MEDICAL INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1981 by Dr Frigz
Surgical Co Ltd (now Dr Frigz International (PVT) Ltd) of Pakistan as its
marketing office in Japan for importing surgical instruments, and was
incorporated in 2001. This is a trading firm for importing surgical
instruments, manufactured by the parent’s factories in Pakistan, Germany and
Turkey. Handling goods are: tweezers,
scissors, clamps, forceps, other (See OPERATION). Clients include medical instruments dealers,
hospitals, other.
Financials are consolidated by the parent and only partially disclosed.
The sales volume for Aug/2011 fiscal term amounted to Yen 157 million, a
9% up from Yen 144 million in the previous term. Sales of dental equipment & implants
rose. The net profit was posted at Yen
13 million, compared with Yen 10 million a year ago.
For the term that ended Aug 2012 the net profit was projected at Yen 15
million, on a 5% rise in turnover, to Yen 165 million. Imports kept rising. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 5.0 million, on 30 days normal terms.
Date Registered: Sept 2001
Regd No.: 0400-01-037457 (Chiba-Nagareyama)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
660 shares
Issued:
660 shares
Sum: Yen 33 million
Major shareholders
(%): Frigz & Holdings, ME Labo Systems, other (--100)
No. of
shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales medical/surgical instruments (aluminum, aluminum alloys, stainless
steel, other) for orthopedics, dental, maternity, other (--100%)
(Handling Items): diagnostic
apparatus, tweezers, scissors, clamps, forceps pick-up, bone holding forceps,
blood vessel holding forceps, needle holders, wire cutters, dental implants,
other
Clients: [Mfrs,
wholesalers] ME Labo System, Feed Inc, Matsuyoshi & Co, Heiwa Iryo Kikai
Co, Nissho Iryoki Co, Nishimura Kikai Co, Konoike Medical Co, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Dr Frigz International (Pvt) Ltd (Pakistan), Frimed Medizintechnik
GmbH (Germany) and BAHADIR (Turkey)
Payment record: No Complaints
Location: Business area in
Nagareyama City (Chiba-Pref). Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Chiba Industrial Bank (Kashiwa)
Relations: Satisfactory
(In Million Yen)
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31/08/2012 |
31/08/2011 |
31/08/2010 |
31/08/2009 |
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Annual Sales |
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165 |
157 |
144 |
116 |
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Recur. Profit |
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Net Profit |
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15 |
13 |
10 |
2 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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|
62 |
49 |
39 |
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Capital, Paid-Up |
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33 |
33 |
33 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.10 |
9.03 |
24.14 |
-1.69 |
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Current Ratio |
.. |
.. |
.. |
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N.Worth Ratio |
.. |
.. |
.. |
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N.Profit/Sales |
9.09 |
8.28 |
6.94 |
1.72 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/08/2012 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
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|
1 |
Rs.87.43 |
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Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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 |
-- |
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.