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Report Date : |
17.12.2012 |
IDENTIFICATION DETAILS
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Name : |
PARAMOUNT BED CO LTD |
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Registered Office : |
2-14-5 Higashi-Suna Kotoku Tokyo 136-8671 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
May 1950 |
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Com. Reg. No.: |
0106-01-008657 (Tokyo-Kotoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of medical & nursing-care beds |
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No. of Employees : |
824 employees |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source : CIA |
PARAMOUNT BED CO LTD
Paramount Bed KK
2-14-5 Higashi-Suna
Kotoku Tokyo 136-8671JAPAN
Tel:
03-3648-1111 Fax: 03-3648-3662
URL: http://www.paramount.co.jp
E-Mail address: (thru the URL)
Mfg of
medical & nursing-care beds
Sapporo, Sendai, Nagoya, Osaka, Hiroshima, Fukuoka, other (Tot13)
France,
China (2), Indonesia, Thailand, Middle East, other
Chiba
(2); France, Indonesia, China (--subsidiaries)
KYOSUKE
KIMURA, PRES Michihide Kimura, s/mgn
dir
Toshio
Hiriuchi, mgn dir Tadaharu Katoh, dir
Ikuo
Sakamoto, dir Izumi
Satoh, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES GOOD A/SALES Yen 51,221 M
PAYMENTSREGULAR CAPITAL Yen
6,591 M
TREND UP WORTH Yen 39,929 M
STARTED 1950 EMPLOYES 824
MFR OF MEDICAL & NURSING-CARE BEDS.
FINANCIAL SITUATION CONSIDERED GOOD AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1947 by Ryusuke Kimura for making beds, on his account. Incorporated in 1950 as Shindai Seisaku Co Ltd (Shindai Seisaku means beds making). Renamed as captioned in Mar/1987. This is a major mfr of medical & nursing-care beds, maintaining around 70% market share. The products are delivered and supplied to over 90 countries worldwide. Achieved high growth through development of original products. Also supplies mattress and hospital-use furniture to medical and nursing-care institutions. Noted for international operations, with production In Indonesia, China and France. In Oct 2011, the firm shifted to a holding company, Paramount Bed Holdings Co Ltd, and became its wholly owned subsidiary, when the firm was delisted from the Tokyo S/E. Clients include government & municipal hospitals, medical institutions,
The sales volume for Mar/2012 fiscal term amounted to Yen 51,221 million, a 16% up from Yen 44,260 million in the previous term. Sales of new products, including leasing, maintenance and assistance services rose substantially. New institutions for nursing-care of elderly persons increased backed up by the government’s welfare support system. The recurring profit was posted at Yen 8,907 million and the net profit at Yen 5,219 million, respectively, compared with Yen 6,456 million recurring profit and yen 3,122 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 9,500 million and the net profit at Yen 5,500 million, respectively, on a 7% rise/fall in turnover, to Yen 55,000 million. Sales of beds to assisted-living facilities, maintenance services and lease wholesaling are off to a better start than anticipated. Subsidiaries in China & Indonesia will post a double-digit growth.
The financial situation is considered GOOD and responsible for ORDINARY business engagements.
Date Registered: May 1950
Regd No.: 0106-01-008657 (Tokyo-Kotoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 126 million shares
Issued:
30,632,587 shares
Sum: Yen 6,591.32 million
Major shareholders
(%): Paramount Bed Holdings Co Ltd* (100)
*.. Holding company, founded Oct 2011, listed Tokyo S/E, capital Yen 4,059 million, sales Yen 32,387 million, operating profit Yen 5,209 million, recurring profit Yen 5,200 million, net profit Yen 3,033 million, total assets Yen 92,149 million, net worth Yen 70,423 million, employees 2,180, pres Kyosuke Kimura, concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures medical & nursing-care beds, mattresses, bed side items, ward equipment, including maintenance, leasing, and related-services (--100%)
Clients: Government/municipal hospitals, nursing-care institutions, nursing-care homes & residential care facilities, other
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Aichi Electric Co, Mitsuba Co, Nanshin Co, JFE Shoji Kokankozai Inc, ATL Wood Japan, Seiren Co, other
Imports from China, Indonesia and France (--subsidiary factories)
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho
Bank (Kameido)
MUFG
(Kameido)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
55,000 |
51,221 |
44,260 |
37,817 |
|
Recur.
Profit |
|
9,500 |
8,907 |
6,456 |
4,506 |
|
Net
Profit |
|
5,500 |
5,219 |
3,122 |
2,081 |
|
Total
Assets |
|
|
54,437 |
79,095 |
75,144 |
|
Current
Assets |
|
|
30,844 |
37,292 |
36,900 |
|
Current
Liabs |
|
|
11,049 |
10,088 |
8,678 |
|
Net
Worth |
|
|
39,929 |
65,933 |
63,684 |
|
Capital,
Paid-Up |
|
|
6,591 |
6,591 |
6,591 |
|
Div.P.Share(¥) |
|
|
45.00 |
45.00 |
45.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
7.38 |
15.73 |
17.04 |
18.68 |
|
|
Current Ratio |
.. |
279.16 |
369.67 |
425.21 |
|
|
N.Worth Ratio |
.. |
73.35 |
83.36 |
84.75 |
|
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R.Profit/Sales |
17.27 |
17.39 |
14.59 |
11.92 |
|
|
N.Profit/Sales |
10.00 |
10.19 |
7.05 |
5.50 |
|
|
Return On Equity |
.. |
13.07 |
4.74 |
3.27 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.