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Report Date : |
26.12.2012 |
IDENTIFICATION DETAILS
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Name : |
KURARAY NORITAKE DENTAL INC |
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Registered Office : |
Ohte Center Bldg 10F, 1-1-3 Ohtemachi Chiyodaku Tokyo 100-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
June 2001 |
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Com. Reg. No.: |
0100-01-139520 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of medical equipment & supplies, to include dental equipment/supplies |
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No. of Employees : |
250 |
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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
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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 third-largest economy
in the world after second-place China, which surpassed Japan in 2001, and in a
virtual tie with India. 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
KURARAY NORITAKE DENTAL INC
REGD NAME: Kuraray
Noritake Dental KK
MAIN OFFICE: Ohte
Center Bldg 10F, 1-1-3 Ohtemachi Chiyodaku Tokyo 100-0004 JAPAN
Tel:
03-6701-1700 Fax: 03-6701-1805
*.. The is its
Factory in Aichi-Pref
URL: http://www.llirarau.co.jp
E-Mail address: (thru the URL)
Mfg of medical
equipment & supplies, to include dental equipment/supplies
Osaka,
Okayama,
Kurashiki, Niigata, Miyuoshi
SADAAKI MATSUYAMA,
PRES
Masayuki Asada,
dir
Kazuhiro Nakayama,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 7,000 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 300 M
TREND UP WORTH Yen 2,359 M
STARTED 2001 EMPLOYES 250
MFR OF MEDICAL EQUIPMENT & SUPPLIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established
originally on the basis of a division separated from Toray Ind for mfg medical
equipment & supplies, as Kuraray Medical Inc. In Apr 2012 the firm merged Noritake Dental
Inc and renamed as captioned. With the
merger the firm will add dental equipment & supplies operations starting
from Apr 2013.
The sales volume for Mar/2012 fiscal
term amounted to Yen 7,000 million, a 3% up from Yen 6,800 million in the
previous term. The net profit was posted
at Yen 991 million, compared with Yen 741 million a year ago.
For the current term ending Mar 2013
the net profit projected at Yen 100 million, on a 7% rise in turnover, to Yen
7,500 million. The dental business will
be partially added.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: Jun
2001
Regd No.:
0100-01-139520 (Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 24,000 shares
Issued: 6,000 shares
Sum: Yen 300 million
Major
shareholders (%): Kuraray Inc* (66.7%), Noritake Co Ltd (33.3)
No. of shareholders: 2
*.. Leading synthetic fiber mfr, Tokyo,
founded 1926, listed on Tokyo S/E, capital Yen 88,955 million, sales Yen
368,975 million, operating profit Yen 54,733 million, recurring profit Yen
53,940 million, net profit Yen 31,469 million, total assets Yen 555,242
million, net worth Yen 366,623 million, employees 6,975, pres Fumio Ito
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
medical equipment & supplies (injection & puncture devices, anesthetic
equipment, oxygen inhalators, sterilizer, other), plastic equipment &
supplies, other (--100%).
By the merger, dental equipment and
supplies, contact lenses, are to be added
Clients: [Mfrs,
wholesalers] Exports to Kuraray USA, Kuraray Europe, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kuraray Inc
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned by the parent, Kuraray Inc, leased and maintained
satisfactorily.
Bank References:
SMBC (Bingomachi)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
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7,500 |
7,000 |
6,800 |
5,898 |
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Recur.
Profit |
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Net
Profit |
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1,000 |
991 |
741 |
540 |
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Total
Assets |
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9,675 |
12,212 |
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Current
Assets |
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3,896 |
7,576 |
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Current
Liabs |
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3,351 |
3,427 |
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Net
Worth |
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2,359 |
7,285 |
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Capital,
Paid-Up |
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300 |
300 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.14 |
2.94 |
15.29 |
-15.74 |
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Current Ratio |
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.. |
116.26 |
221.07 |
.. |
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N.Worth Ratio |
.. |
24.38 |
59.65 |
.. |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
13.33 |
14.16 |
10.90 |
9.16 |
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Return On Equity |
.. |
42.01 |
10.17 |
.. |
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Notes: Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.08 |
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1 |
Rs.89.09 |
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Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.