MIRA INFORM REPORT

 

 

Report Date :

26.07.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

TAKEDA PHARMACEUTICAL CO LTD

 

 

Registered Office :

4-1-1 Doshomachi Chuoku Osaka　540-8645

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

January 1925

 

 

Com. Reg. No.:

1200-01-077461 (Osaka-Chuoku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of pharmaceuticals

 

 

No. of Employees :

30,305

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

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

 

 

Status :

Good

Payment Behaviour :

Regular

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)

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

 

TAKEDA PHARMACEUTICAL CO LTD

 

 

REGD NAME

 

Takeda Yakuhin Kogyo KK

 

 

MAIN OFFICE

 

4-1-1 Doshomachi Chuoku Osaka　540-8645 JAPAN

Tel: 06-6204-2111     Fax: 06-6204-2880

 

URL:                 http://www.takeda.com/

E-Mail address:            (thru the URL)

 

 

ACTIVITIES  

 

Mfg of pharmaceuticals

 

 

BRANCHES

 

Tokyo, Sapporo, Sendai, Yokohama, Nagoya, Kobe, Kyoto, Takamatsu, Fukuoka, Hiroshima, Fukuoka

 

 

OVERSEAS

 

USA (7), Canada, France, Italy, Germany, Austria, Switz, Spain, Portugal, Ireland, Netherlands, Sweden, Turkey,

China, Taiwan, Thailand, Philippines, Indonesia, Singapore, Mexico (--subsidiaries)

 

 

R&D CENTERS

 

Osaka, Fujisawa, USA (3), UK (2), Singapore

 

FACTORIES

 

Osaka, Hikari; Italy, Ireland, China, Indonesia, USA

 

 

CHIEF EXEC

 

YASUCHIKA HASEGAWA, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                 　A/SALES       Yen 1,508,932 M

PAYMENTS REGULAR  　CAPITAL        Yen 63,541 M

TREND STEADY           　WORTH         Yen 2,071,866 M

STARTED         1925                 　EMPLOYES   30,305

 

 

COMMENT    

 

PHARMACEUTICAL MFR. 

 

FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

 

                        Unit: Million Yen

Forecast (or estimated) figures for 31/03/2013 fiscal term

 

 

HIGHLIGHTS

 

This is a top-ranked time-honored pharmaceutical mfr, dating back to 1781 when Chobei Takeda set up a small firm, on his own, for selling Japanese & Chinese herbal medicine.   In 1871, formed a cooperative union for purchasing and importing Western medicines.  In 1985, started import of Western medicines.  In 1895, began direct imports from England, US, Germany, Spain, other.  In 1896, launched pharmaceutical mfg business.  In 1907, obtained exclusive sales rights in Japan for products from German company Bayer.   And in 1925 incorporated as Chobei Takeda & Co Ltd.  The name changed as captioned in 1943.  The subject steadily expanded its pharmaceutical business and even began exports to US, Russia and China.  Has strength in drugs for lifestyle-related illness such as high blood pressure and diabetes.  Leads others in genome research.  In untapped markets, such as emerging countries, expanding own sales network, while planning marketing of generic products.  Reportedly the firm will launch four new overseas sales units in Mexico, Sweden, Belgium and Turkey by the end of Oct 2009 and sell a range of products that includes its diabetes medicine Actos.  The company aims for a turnaround from the March 2014 term through M&A of an anti-gout maker of the US and marketing in emerging countries.  It will set up a private power generator at Osaka plant to cope with power shortage.  It will introduce a system of sending young employees to up-and-coming countries.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2012 fiscal term amounted to Yen 1,508,932 million, a 6.3% up from Yen 1,419,385 in the previous term.  In Sept 2011, the firm acquired Nycomed A/S of Switzerland and made it a wholly owned subsidiary immediately.  As a result its sales network greatly expanded from 28 countries to approx 70 countries.  Sales expanded.  By categories, Diabetes down 23.6% to Yen 91,700 million; Peptic Ulcer down 8.6% to Yen 11,500 million; Hypertension down 0.7% to Yen 1,600 million; Prostate Cancer up 3.7% to Yen 4,300 million.  The recurring profit was posted at Yen 270,330 million and the net profit at Yen 124,162 million, respectively, compared with Yen 371,572 million recurring profit and Yen 247,868 million net profit, respectively, a year ago. 

           

For the current term ending Mar 2013 the recurring profit is projected at Yen 150,000 million and the net profit at Yen 155,000 million, on a 2.7% rise in turnover, to Yen 1,550,000 million.  Despite NHI drug price cuts, domestic sales will increase on the strength of new products.  But sales of main profit earner diabetic drug will plummet, hit by competition with generics in the US.  A newly acquired Switzerland firm will help for the full term.

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

           

Date Registered:　Jan 1925

Regd No.:         1200-01-077461 (Osaka-Chuoku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         3,500 million shares

Issued:                789,666,095 shares

Sum:                   Yen 63,541 million

 

Major shareholders (%): Nippon Life Ins (7.1), Japan Trustee Services T (4.9), Master Trust Bank of Japan T (3.6), Takeda Science Foundation (2.2), SSBT OD05 Omnibus Acct  Treaty (2.2), Barclays Securities Japan (1.8), State Street Bank & Trust 505225 (1.1), Japan Trustee Services T9 (1.0), Mellon Bank Mellon Omnibus US P (0.9), SMBC (0.9); foreign owners (24.8)

           

No. of shareholders: 294,659

 

Listed on the S/Exchange (s) of: Tokyo, Osaka, Nagoya, Fukuoka, Sapporo

 

Managements: Yasuchika Hasegawa, pres; Toyoji Yoshida, mgn dir; Yasuhiko Yamanaka, mgn dir; Frank Morich, dir; Tadataka Yamada, dir; Masato Iwasaki, dir; Deborah Dunsire, dir

 

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

 

Related companies: Takeda America Holdings Inc, Takeda Europe Holdings Inc, Nihon Pharmaceutical Co, other

           

 

OPERATION

           

Activities: Manufactures pharmaceuticals (Ethical Drugs) (90%), Health-care foods (4%), others 6%).

 

Overseas Sales Ratio (51.2%): N America 30.7%, Europe 17.4%, Asia, other3.1%

 

(Products by therapeutic category): For: allergy, cardiovascular, central nervous system, diabetes, gastrointestinal, gout, infection, inflammation, interleukin, osteoporosis, urology & gynecology, vaccine, vitamin, other.

           

Clients: [Pharmaceutical mfrs, wholesalers] Mediceo Corp, Alfresa Corp, Astem Co, Vital Net Inc, Nakakita Co, other

            No. of accounts: 2,000

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Pfizer Japan Inc, Asuka Pharmaceutical Co, Senju Pharmaceutical Co, Biofermin Pharmaceutical Co, Nihon Pharmaceutical Co, other.

 

Payment record: Regular

 

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

 

Bank References:

SMBC (Osaka)

MUFG (Osaka-Chuo)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2012

31/03/2011

INCOME STATEMENT

 

 

 

  Annual Sales

　

1,508,932

1,419,385

 

  Cost of Sales

433,194

317,582

 

      GROSS PROFIT

1,075,738

1,101,803

 

  Selling & Adm Costs

810,711

734,719

 

      OPERATING PROFIT

265,027

367,084

 

  Non-Operating P/L

5,303

4,488

 

      RECURRING PROFIT

270,330

371,572

　

      NET PROFIT

124,162

247,868

BALANCE SHEET

 

 

 

 

  Cash

　

214,885

217,897

 

  Receivables

 

344,679

293,995

 

  Inventory

 

195,014

137,127

 

  Securities, Marketable

240,740

656,321

 

  Other Current Assets

283,678

280,912

 

      TOTAL CURRENT ASSETS

1,278,996

1,586,252

 

  Property & Equipment

488,702

407,480

 

  Intangibles

 

1,516,247

517,427

 

  Investments, Other Fixed Assets

293,085

275,243

 

      TOTAL ASSETS

3,577,030

2,786,402

 

  Payables

 

101,950

83,065

 

  Short-Term Bank Loans

241,411

1,345

 

　

 

　

　

 

  Other Current Liabs

408,370

346,186

 

      TOTAL CURRENT LIABS

751,731

436,596

 

  Debentures

 

190,000

　

 

  Long-Term Bank Loans

111,393

1,250

 

  Reserve for Retirement Allw

54,430

16,805

 

  Other Debts

　

1,149,342

631,691

 

      TOTAL LIABILITIES

1,505,165

649,746

 

      MINORITY INTERESTS

 

 

 

Common stock

63,541

63,541

 

Additional paid-in capital

49,638

49,638

 

Retained earnings

2,254,075

2,272,067

 

Evaluation p/l on investments/securities

87,046

73,944

 

Others

 

(441,652)

(366,587)

 

Treasury stock, at cost

(808)

(1,014)

 

      TOTAL S/HOLDERS` EQUITY

2,071,866

2,136,656

　

      TOTAL EQUITIES

3,577,030

2,786,402

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2012

31/03/2011

 

Cash Flows from Operating Activities

　

336,570

326,938

 

Cash Flows from Investment Activities

-1,093,964

-99,255

 

Cash Flows from Financing Activities

393,789

-146,544

　

Cash, Bank Deposits at the Term End

　

454,247

872,710

ANALYTICAL RATIOS            Terms ending:

31/03/2012

31/03/2011

 

 

Net Worth (S/Holders' Equity)

2,071,866

2,136,656

 

 

Current Ratio (%)

170.14

363.32

 

 

Net Worth Ratio (%)

57.92

76.68

 

 

Recurring Profit Ratio (%)

17.92

26.18

 

 

Net Profit Ratio (%)

8.23

17.46

 

 

Return On Equity (%)

5.99

11.60

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.38

UK Pound

1

Rs.87.44

Euro

1

Rs.68.05

 

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%)

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.