MIRA INFORM REPORT

 

 

Report Date :           

06.02.2012

 

IDENTIFICATION DETAILS

 

Name :

MM & NIIC CO LTD

 

 

Registered Office :

1-16-6 Yanagibashi Taitoku Tokyo 111-0052

 

 

Country :

Japan

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

October 1984

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of medical devices

 

 

No. of Employees :

69

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 23.0 Million

Status :

Moderate

Payment Behaviour :

No Complaints

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

 

MM & NIIC CO LTD

 

 

REGD NAME

 

KK MM & NIIK

 

 

MAIN OFFICE

 

1-16-6 Yanagibashi Taitoku Tokyo 111-0052 JAPAN

Tel: 03-3865-6575      Fax: 03-3865-6585

                                               

URL:                             http://www.mm-japan.co.jp

E-Mail address:                        info@mm-japan.co.jp

 

 

ACTIVITIES  

 

Import, export, wholesale of medical devices

 

 

BRANCHES

 

Osaka, Nagoya, Sapporo, Hiroshima, Fukuoka, Nagasaki

 

 

OFFICERS

 

MASAHIRO HIROSE, PRES       Nobuyuki Tao, s/mgn dir

Kazuo Sootome, mgn dir            Yoshinobu Kimura, dir

Akimi Miyoshi, dir                      Yasushi Nagashima, dir                         

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 1,567 M

PAYMENTS      No Complaints          CAPITAL           Yen 50 M

TREND             SLOW                          WORTH            Yen 344 M

STARTED                     1984                             EMPLOYES      69

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN MEDICAL DEVICES.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 23.0 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established on the basis of a division separated from Mutou Co Ltd (See REGISTRATION), as M & M Co Ltd.  This is a trading firm for import, export and wholesale of medical devices (See OPERATION).  In 2010, acquired medical device business of NIIC Co Ltd and changed the name as captioned.   Clients include university hospitals, public hospitals, other, nationwide

 

 

FINANCIAL INFORMATION

           

The sales volume for Jun/2011 fiscal term amounted to Yen 1,567 million, a 7% down from Yen 1,681 million in the previous term.  The net profit was posted at Yen 4 million, compared with Yen 5 million a year ago.

 

For the current term ending Jun 2012 the net profit is projected at Yen 5 million, on a 5% rise in turnover, to Yen 1,650 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 23.0 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Oct 1984

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         4,000 shares

Issued:                1,000 shares

Sum:                   Yen 50 million

 

Major shareholders (%): Mutou Co Ltd* (100)

 

*.. Mutou Co Ltd, mfr of medical devices, scientific instruments, Tokyo, founded 1949, Capital Yen 50 million

Sales Yen 11,334 million, employees 825, pres Nobuyuki Tao

 

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

 

OPERATION

 

Activities: Imports, exports and wholesales medical lasers, intense pulsed light systems, ultrasonic diagnostic devices, other medical devices (--100%9

 

Clients: [Universities, hospital, laboratories] Mutou & Co, Nippon Iryoki Kenkyusho, Mutou America Inc, other

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Paloma Medical Inc, Shibuya Kogyo Co, Ushio Inc, Fiber Tech Co, Kagoshima Supersonic Laboratory Co, Kakouen Co, other

 

Payment record: No Complaints

 

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

 

Bank References:

·         SMBC (Ueno)

·         MUFG (Hongo)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

30/06/2012

30/06/2011

30/06/2010

30/06/2009

Annual Sales

　

1,650

1,567

1,681

1,716

Recur. Profit

　

　

　

3

62

Net Profit

　

5

4

5

14

Total Assets

　

　

1,440

1,247

1,143

Current Assets

　

　

840

681

906

Current Liabs

　

　

1,260

631

592

Net Worth

　

　

344

340

380

Capital, Paid-Up

　

　

50

50

50

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.30

-6.78

-2.04

-19.44

    Current Ratio

 

..

66.67

107.92

153.04

    N.Worth Ratio

..

23.89

27.27

33.25

    R.Profit/Sales

 

..

..

0.18

3.61

    N.Profit/Sales

0.30

0.26

0.30

0.82

    Return On Equity

..

1.16

1.47

3.68

 

Notes: Forecast (or estimated) figures for the 30/06/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.96

UK Pound

1

Rs.77.47

Euro

1

Rs.64.39

 

 

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.