|
Report Date : |
10.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
JW PHARMACEUTICAL CORPORATION |
|
|
|
|
Formerly Known As : |
CHOONGWAE PHARMA CORPORATION |
|
|
|
|
Registered Office : |
5th Fl., Choongwae Bldg., 698, Sindaebang 1-dong, Dongjak-gu, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
08.08.1953 |
|
|
|
|
Com. Reg. No.: |
118-81-02477 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacturer of Medicinal Medicaments |
|
|
|
|
No. of Employees : |
1,093 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company
Name |
JW
PHARMACEUTICAL CORPORATION (Ex. Company Name : CHOONGWAE PHARMA CORPORATION, “중외제약(주)”) (Korean Company Name : “제이더블유중외제약(주)”) |
|
Registered Address |
5th Fl., Choongwae Bldg., 698, Sindaebang
1-dong, Dongjak-gu, |
|
Zip Code |
156-854 |
|
Tel |
+82-2-840-6777 |
|
Fax |
+82-2-841-1213 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
5th Fl., Choongwae Bldg., 698, Sindaebang
1-dong, Dongjak-gu, |
|
Tel |
+82-2-840-6777 |
|
Fax |
+82-2-841-1213 |
|
Other Address-Suwon Factory |
146-141,
Annyeong-dong, Hwaseong-si, |
|
Tel |
+82-31-230-6114 |
|
Fax |
+82-31-230-6123 |
|
Other Address-Sihwa Factory |
1354, Jeongwang-dong,
Siheung-si, |
|
Tel |
+82-31-431-8101 |
|
Fax |
+82-31-431-8107 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Medicinal Medicaments |
|
Main Business |
Drugs & Pharmaceutical Products,
Nutrition Tonic |
|
Established
(mm/dd/yyyy) |
08/08/1953 |
The Subject owns
the premises of registered HQ address(3,273㎡) and factories(156,743㎡).
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Dietary supplements and nutritional therapy products(51191900) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Hair care supplies(53131602) |
|
Sell |
Lens cleaner(46181806) |
|
Sell |
Combinational fructose Dextrose and phosphoric acid(51171811) |
|
Sell |
Drugs used for gallbladder disease(51172000) |
|
Sell |
Cough and cold and antiallergy products(51161800) |
|
Sell |
Antidepressants(51141600) |
|
Sell |
Diazoxide(51121701) |
|
Sell |
Nonsteroidal anti inflammatory drugs NSAIDs(51142100) |
|
Sell |
Hormones and antihormones(51111800) |
|
Sell |
Medical thermometers and accessories(42182200) |
|
Sell |
Antidotes and emetics(51211600) |
|
Sell |
Antifungal drugs(51101800) |
|
Sell |
Vitamin supplements(51191905) |
|
Sell |
Antianemic drugs(51131500) |
|
Buy |
Lens cleaner(46181806) |
|
Buy |
Packaging |
|
Buy |
Hair care(91101700) |
|
Buy |
Domestic spoons(52151704) |
|
Buy |
Caps or tops(24122004) |
|
Buy |
Bottles(24122000) |
|
Buy |
Inorganic acids(12352301) |
|
Buy |
Labels(55121600) |
|
Buy |
Non metallic bins(24112003) |
|
Buy |
Packaging pouches or bags(24121502) |
|
Buy |
Surfactants(12161900) |
|
Name |
Lee Chong-Ho |
|
Date of Birth |
12/01/1932 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
27,004,830,000 |
||||||||||||
|
Employees |
1,093 |
||||||||||||
|
Formation |
Listed Company ( A Company of JW HOLDINGS CO., LTD.(110111-3710468) |
||||||||||||
|
Bank Details |
S.C. First bank of Korea-HQ Woori Bank Citi |
||||||||||||
|
Corporate Registered No. |
110111-0019342 |
||||||||||||
|
Business Registered No. |
118-81-02477 |
||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 740858 Regulations: KGMP( KGSP( KGLP( KGCP( |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
08/08/1945
Established as CHOSUNG CHOONGWAE PHARMA CO. 08/08/1953
Incorporated as DAEHAN CHOONGWAE PHARMA CORPORATION 11/08/1982 Changed company name
to CHOONGWAE PHARMA CORPORATION 12/08/1986 Moved to the present
HQ address from San 75-31, Yeoksam-dong, Gangnam-gu, 07/03/2007 JW
HOLDINGS CO., LTD. has been spin-off from CHOONGWAE PHARMA CORP. 03/18/2011
Changed company name to the present name |
||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Lee Chong-Ho |
Korean |
1932.12.01 |
|
|
President & CEO |
Mr. |
Lee Kyung-Ha |
Korean |
1963.08.29 |
|
|
Director |
Mr. |
Park Koo-Seo |
Korean |
1955.01.05 |
|
|
Sr. Executive Director |
Mr. |
Kim Jung-Ho |
Korean |
1958.01.25 |
|
|
Outside Director |
Mr. |
Lee In-Shik |
Korean |
1951.02.24 |
|
|
Outside Director |
Mr. |
Kim Chang-Hern |
Korean |
1943.07.19 |
|
|
Auditor |
Mr. |
Cho Nam-Choon |
Korean |
1939.05.19 |
|
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
102,158,047,770 |
672,379,869,747 |
245,460,242 |
|
|
(*)2011 |
431,007,280,998 |
665,878,421,331 |
-9,868,459,019 |
|
(*)2010 |
443,275,671,638 |
633,714,587,596 |
2,484,010,809 |
|
2009 |
455,146,859,628 |
498,237,086,791 |
10,918,717,581 |
|
2008 |
437,648,380,387 |
419,782,334,422 |
6,433,178,499 |
|
2007 |
385,010,282,247 |
304,251,216,616 |
8,761,047,704 |
|
2006 |
342,767,189,415 |
361,205,306,663 |
10,756,898,540 |
|
2005 |
311,357,207,577 |
349,825,395,527 |
15,120,931,925 |
|
2004 |
303,167,358,887 |
370,464,963,991 |
13,875,224,375 |
|
2003 |
282,358,847,031 |
346,539,936,795 |
12,958,759,158 |
|
Authorized Capital(KRW) |
120,000,000,000 |
|
Paid-Up Capital(KRW) |
27,004,830,000 |
|
Total Issued Shares |
10,801,932 |
Balance
Sheet
|
|||
|
Unit : Korean
Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
672,379,869,747 |
665,878,421,331 |
633,714,587,596 |
|
Current
Assets |
408,277,130,094 |
402,824,362,923 |
377,002,715,002 |
|
Cash & Cash Equivalents |
844,659,846 |
2,051,172,336 |
8,636,026,827 |
|
Current Financial Instruments |
380,000,000 |
245,000,000 |
336,925,722 |
|
Marketable Financial Instruments |
304,162,120 |
304,552,120 |
|
|
Trade Receivables |
301,705,970,559 |
307,685,398,488 |
271,479,540,928 |
|
Short-Term Receivables |
763,456,171 |
763,456,171 |
797,413,712 |
|
Other Receivables |
11,342,582,825 |
3,605,418,317 |
2,584,364,263 |
|
Earned Income |
166,742,958 |
152,182,069 |
319,218,964 |
|
Advance Payments |
581,968,760 |
1,500,000 |
|
|
Prepaid Expenses |
2,964,060,193 |
2,099,116,255 |
2,164,216,143 |
|
Inventories |
89,223,526,662 |
85,916,567,167 |
90,685,008,443 |
|
Non-Current
Assets |
264,102,739,653 |
263,054,058,408 |
256,711,872,594 |
|
Non-Current Financial Instruments |
1,955,074,400 |
1,901,612,364 |
2,885,236,835 |
|
Investment_Related Companies from
Equity Method |
1,141,290,898 |
1,141,290,898 |
1,141,290,898 |
|
Tangibles |
232,288,997,957 |
234,451,128,884 |
235,660,585,401 |
|
Intangibles |
24,098,963,992 |
22,823,413,856 |
13,354,372,232 |
|
Other Non-Current Assets |
4,618,412,406 |
2,736,612,406 |
3,670,387,228 |
|
Total
Liabilities |
500,192,760,175 |
496,840,929,432 |
452,198,657,304 |
|
Current
Liabilities |
279,710,297,570 |
318,181,994,294 |
261,538,443,960 |
|
Trade Payables |
42,861,297,481 |
39,714,414,076 |
30,695,671,666 |
|
Short-Term Borrowings |
137,418,736,534 |
179,389,268,598 |
158,343,465,186 |
|
Account Payables |
12,328,861,726 |
12,483,142,542 |
13,164,218,922 |
|
Withholdings |
493,370,826 |
1,036,620,298 |
1,055,735,494 |
|
VAT Withhold |
2,178,543,864 |
2,497,816,032 |
2,757,959,400 |
|
Accrued Expenses |
3,040,280,503 |
3,369,710,567 |
3,276,570,742 |
|
Accrued Income Tax |
|
|
679,637,529 |
|
Accrued Dividends |
2,064,534,126 |
21,563,926 |
18,646,056 |
|
Gurantee Deposits |
335,222,000 |
312,863,000 |
270,590,000 |
|
Provisions for Refund |
6,959,893,275 |
6,838,147,006 |
6,257,282,301 |
|
Current Portion of Long-Term
Debts |
17,091,302,000 |
16,027,196,000 |
|
|
Current Portion of Debentures |
30,416,666,674 |
30,833,333,340 |
45,018,666,664 |
|
Current Portion of Bonds With
Warrant |
24,480,251,575 |
25,657,918,909 |
|
|
Finance Guarantee Debts |
41,336,986 |
|
|
|
Non-Current
Liabilities |
220,482,462,605 |
178,658,935,138 |
190,660,213,344 |
|
Debentures |
60,000,000,000 |
60,000,000,000 |
70,259,333,340 |
|
Bonds With Warrant |
26,931,116,242 |
|
30,147,873,832 |
|
Convertible Bonds |
17,948,069,752 |
|
|
|
Provision for Severance &
Retirement |
8,222,828,189 |
8,985,670,309 |
4,106,446,759 |
|
Long-Term Borrowings |
100,738,066,000 |
105,041,604,000 |
78,954,000,000 |
|
Deferred Income Tax Credit |
6,151,382,422 |
4,140,660,829 |
7,192,559,413 |
|
Other Non-Current Liabilities |
491,000,000 |
491,000,000 |
|
|
Capital
Stock |
27,004,830,000 |
25,518,912,500 |
24,486,725,000 |
|
Capital Surplus |
63,062,203,956 |
59,566,288,552 |
58,642,484,816 |
|
Others |
-150,747,974 |
-106,466,233 |
-60,199,656 |
|
Installments |
-274,409,011 |
-284,519,479 |
-753,848,511 |
|
Profit Surplus |
82,545,232,601 |
84,343,276,559 |
99,200,768,643 |
|
Total Equity |
172,187,109,572 |
169,037,491,899 |
181,515,930,292 |
|
Liab. & Shareholder’s Equity |
672,379,869,747 |
665,878,421,331 |
633,714,587,596 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
102,158,047,770 |
431,007,280,998 |
443,275,671,638 |
|
Cost of Sold Goods |
66,428,521,460 |
283,012,555,477 |
281,455,293,255 |
|
Gross Profit |
35,729,526,310 |
147,994,725,521 |
161,820,378,383 |
|
Selling & Admin. Expenses |
30,774,461,120 |
130,402,223,711 |
136,036,002,882 |
|
Other Operating Income |
784,643,749 |
1,101,809,116 |
1,339,003,766 |
|
Other Operating Expenses |
382,190,315 |
2,008,117,983 |
1,418,009,811 |
|
Operating Income |
5,357,518,624 |
16,686,192,943 |
25,705,369,456 |
|
Finance Income |
2,121,700,948 |
3,535,403,592 |
7,704,072,123 |
|
Finance Expenses |
6,990,150,989 |
31,769,267,661 |
28,674,664,705 |
|
Income Before Taxes |
489,068,583 |
-11,547,671,126 |
4,734,776,874 |
|
Income Taxes Expenses |
243,608,341 |
-1,679,212,107 |
2,250,766,065 |
|
Net Income |
245,460,242 |
-9,868,459,019 |
2,484,010,809 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Operating
Activities Cash Flows |
-1,050,384,505 |
-18,127,035,104 |
-9,812,365,706 |
|
Cash Flows from Operating |
4,466,940,302 |
6,798,701,538 |
23,105,134,163 |
|
Interests Received |
19,158,359 |
337,119,054 |
72,774,241 |
|
Interests Paid |
-5,531,917,493 |
-23,283,381,925 |
-24,863,370,999 |
|
Dividends Received |
0 |
0 |
0 |
|
Income Taxes |
-4,565,673 |
-1,979,473,771 |
-8,126,903,111 |
|
Cash Flows from Investing |
-4,444,711,204 |
-19,098,459,381 |
-24,830,808,950 |
|
Cash Flows from Financing |
4,288,583,219 |
30,640,639,994 |
31,916,850,551 |
|
Increase/Decrease in Cash |
-1,206,512,490 |
-6,584,854,491 |
-2,726,324,105 |
|
Cash at the Beginning of Year |
2,051,172,336 |
8,636,026,827 |
11,362,350,932 |
|
Cash at the End of Year |
844,659,846 |
2,051,172,336 |
8,636,026,827 |
|
Main Products & Services |
Drugs & Pharmaceutical Products, Nutrition Tonic |
|
Competitors |
DONGA PHARMACEUTICAL
CO.,LTD(110111-0017990) HANMI PHAM CO.,LTD(134811-0003187) YUHAN CORPORATION(110111-0014409) GREEN CROSS CORPORATION(110111-0109854) |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
JW HOLDINGS CO., LTD.(110111-3710468) JW CHOONGWAE SHIN-YAK
CORPORATION(110111-0304149) CHOONGWAE INDUSTRIAL CORPORATION LTD.(110111-0601454) JW LIFE SCIENCE CORPORATION(135011-0057395) JW CHOONGWAE MEDICAL
CORPORATION(110111-3330935) CHOONGWAE INFORMATION & TECHNOLOGY CO.,
LTD. C&C NEW PHARMA RESEARCH CENTER CO.,
LTD. JW CHEMITOWN CORPORATION(110111-1769194) JW CREAGENE INC.(160111-0070021) CREAGENE JAPAN CO., LTD. CORAZONX THERIAC PHARMACEUTICAL CORPORATION (100.0% held by the subject company) |
|
Subsidiary |
THERIAC PHARMACEUTICAL CORPORATION (100.0% held by the subject company) 600 BROADWAY MEDICAL CENTER, |
|
Cooperative |
CHUGAI PHARMACEUTICAL CO., LTD. EN OTSUKA ABBOTT MERCK LIMITED MITSUBISHI TANABE PHARMA CORPORATION |
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
03/2012 |
2011 |
2010 |
|
Export |
0 |
0 |
0 |
|
Domestic |
102,158 |
431,007 |
443,276 |
|
Total |
102,158 |
431,007 |
443,276 |
The Subject exports to
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.02 |
|
|
1 |
Rs.86.78 |
|
Euro |
1 |
Rs.68.83 |
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.