MIRA INFORM REPORT
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Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
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Name : |
ASTELLAS PHARMA INC |
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Registered Office : |
2-3-11 Nihombashi-Honcho Chuoku Tokyo
103-8411 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
March 1939 |
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Com. Reg. No.: |
(Tokyo-Chuoku) 034966 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of pharmaceuticals |
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No. of Employees
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16,665 |
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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Maximum Credit Limit : |
Yen 18,863.6 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
Company name
ASTELLAS PHARMA INC
REGD NAME
Astellas Seiyaku
KK
MAIN OFFICE
2-3-11 Nihombashi-Honcho
Chuoku Tokyo 103-8411 JAPAN
Tel:
03-3244-3000 Fax: 03-5255-7662
* The given address is its Toyama Branch (subsidiary)
E-Mail address: info@astellas.com
ACTIVITIES
Mfg of
pharmaceuticals
BRANCHES
Osaka,
other (23)
FACTORIES
Osaka,
Nagoya, Chiba, other
CHIEF EXEC
YOSHIHIKO
HATANAKA, PRES
Yen
Amount: In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 953,947 M
PAYMENTS REGULAR CAPITAL Yen
103,000 M
TREND SLOW WORTH Yen
1,021,096 M
STARTED 1939 EMPLOYES 16,665
COMMENT
PHARMACEUTICAL MFR.
FINANCIAL SITUATION COSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 18,863.6 MILLION, 30 DAYS NORMAL TERMS
Forecast (or estimated) figures for 31/03/2012 fiscal term
HIGHLIGHTS
The subject company was established by merger of former Yamanouchi Pharmaceutical
and Fujisawa Pharmaceutical in Apr 2005, and earned new name as Astellas Pharma
Inc. This is a pharmaceutical mfr with
prescription drugs as mainline, including those for lifestyle-related
illnesses. Strong in urinary and immune
medicines. Stressing anticancer drugs to
growing into 3rd mainline.
The firm aims to attain global sales of Yen 50 billion in the March 2015
term for a new overactive bladder treatment drug launched in the current
term. It will release a prostate cancer
drug, now under application for approval, possibly in March 2013. It is seeking ways to licensing-out of
developing its anti-diabetics in the US and Europe.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 953,947
million, a 2.1% down from Yen 974,877 million in the previous term. The recurring profit was posted at Yen
115,058 million and the net profit at Yen 67,650 million, respectively,
compared with Yen 190,986 million recurring profit and Yen 122,257 million net
profit, respectively, a year ago.
(Apr/Sept/2011 results): Sales 483,925 million (up 4.8%), operating
profit Yen 82,999 million (up 22.2%), recurring profit Yen 82,426 million (up
25.8%), net profit Yen 51,330 million (up 17.0%). (% compared with the corresponding period a
year ago).
For the current term ending Mar 2012 the recurring profit is projected
at Yen 138,000 million and the net profit at Yen 85,000 million, on a 2.1% rise
in turnover, to Yen 974,000 million.
Demand for the Vasicare overactive bladder treatment has been steadily
growing, easing the damage from the patent expiration of mainstay
products. In the domestic market, the
Micardis hypertension drug and the Celecox pain and inflammation treatment
performing well.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 18,863.6 million, on 30 days normal terms.
REGISTRATION
Date Registered: Mar 1939
Regd No.: (Tokyo-Chuoku) 034966
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2,000 million shares
Issued: 467,964,635 shares
Sum: Yen 103,000
million
Major shareholders
(%):
Japan Trustee Services T (5.7), Master Trust Bank of Japan T (5.4), State
Street Bank & Trust (5.0), Nippon Life Ins (3.8), JP Morgan Chase Bank
(3.0), MUFG (2.1), SSBT OD05 Omnibus Acc. Treaty (2.0), State Street Bank &
Trust 505225 (1.9), Barclays Capital Japan (1.5), Northern Trust (AVFC)
American (1.5); foreign owners (45.8)
No. of shareholders: 49,858
Listed on the
S/Exchange (s) of: Tokyo, Osaka
Managements: Masafumi
Nogimori, ch; Yasuo Ishii, v ch; Yoshihiko Hatanaka, pres; Yoshiro Miyokawa, v
pres; Katsuro Yamada, s/mgn dir; Masao Yoshida, s/mgn dir; Shinichi Tsukamoto,
mgn dir; Masaru Imahori, mgn dir
Nothing detrimental is known as to the commercial morality of
executives.
Related companies:
Astellas US Holdings, other
OPERATION
Activities: Manufactures
pharmaceuticals & related products (--100%).
Overseas Sales Ratio
(44%)
Clients: [Pharmaceutical
mfrs, wholesalers, chain stores] Mediceo Paltac Holdings, Suzuken Co, Alfresa
Corp, Toho Pharmaceutical Co, Vital Net Inc, other.
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Pfizer, Toa Eiyo Co, Astellas Tokai, Sanofi-Aventis Health Insurance Society, Nippon Boehringer
Ingelheim Ltd, other.
Payment record: Regular
Location: Business area in Tokyo.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
·
MUFG (Nihombashi-Chuo)
·
SMBC (Tokyo)
Relations: Satisfactory
FINANCES
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2011 |
31/03/2010 |
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INCOME STATEMENT |
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Annual Sales |
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953,947 |
974,877 |
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Cost of Sales |
295,972 |
289,240 |
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GROSS PROFIT |
657,974 |
685,637 |
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Selling & Adm Costs |
538,794 |
499,229 |
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OPERATING PROFIT |
119,180 |
186,407 |
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Non-Operating P/L |
-4,122 |
4,579 |
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RECURRING PROFIT |
115,058 |
190,986 |
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NET PROFIT |
67,650 |
122,257 |
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BALANCE SHEET |
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Cash |
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142,895 |
312,196 |
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Receivables |
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262,512 |
228,088 |
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Inventory |
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116,880 |
111,052 |
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Securities, Marketable |
33,908 |
225,078 |
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Other Current Assets |
96,959 |
112,130 |
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TOTAL CURRENT ASSETS |
653,154 |
988,544 |
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Property & Equipment |
190,160 |
184,489 |
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Intangibles |
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367,178 |
62,760 |
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Investments, Other Fixed Assets |
124,599 |
128,383 |
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TOTAL ASSETS |
1,335,091 |
1,364,176 |
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Payables |
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88,601 |
84,024 |
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Short-Term Bank Loans |
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Other Current Liabs |
151,047 |
193,133 |
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TOTAL CURRENT LIABS |
239,648 |
277,157 |
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Debentures |
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Long-Term Bank Loans |
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Reserve for Retirement Allw |
17,235 |
17,638 |
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Other Debts |
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57,111 |
15,448 |
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TOTAL LIABILITIES |
313,994 |
310,243 |
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MINORITY INTERESTS |
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Common
stock |
103,000 |
103,000 |
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Additional
paid-in capital |
176,821 |
176,821 |
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Retained
earnings |
874,351 |
895,101 |
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Evaluation
p/l on investments/securities |
9,479 |
14,153 |
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Others |
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(119,063) |
(80,982) |
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Treasury
stock, at cost |
(23,492) |
(54,160) |
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TOTAL S/HOLDERS` EQUITY |
1,021,096 |
1,053,933 |
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TOTAL EQUITIES |
1,335,091 |
1,364,176 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2011 |
31/03/2010 |
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Cash
Flows from Operating Activities |
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100,639 |
150,130 |
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Cash
Flows from Investment Activities |
-242,648 |
-31,580 |
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Cash
Flows from Financing Activities |
-93,267 |
-85,902 |
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Cash,
Bank Deposits at the Term End |
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175,465 |
431,920 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
1,021,096 |
1,053,933 |
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Current
Ratio (%) |
272.55 |
356.67 |
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Net
Worth Ratio (%) |
76.48 |
77.26 |
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Recurring
Profit Ratio (%) |
12.06 |
19.59 |
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Net
Profit Ratio (%) |
7.09 |
12.54 |
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Return
On Equity (%) |
6.63 |
11.60 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.33 |
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UK Pound |
1 |
Rs.77.41 |
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Euro |
1 |
Rs.64.84 |
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.