MIRA INFORM REPORT

 

 

Report Date :

29.06.2012

 

IDENTIFICATION DETAILS

 

Name :

TAKARA BIO INC CO LTD

 

 

Registered Office :

3-4-1 Seta Otsu Shiga-Pref 520-2193

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

September 1925

 

 

Com. Reg. No.:

Not Available 

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of shochu (distilled spirit)

 

 

No. of Employees :

3,380

 

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 :

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

 

TAKARA BIO INC CO Ltd

 

 

REGD NAME

 

Takara Bio KK

 

 

MAIN OFFICE

 

3-4-1 Seta Otsu Shiga-Pref 520-2193 JAPAN

Tel: 077-543-7200     Fax: 077-543-2494-

 

URL:                 http://www.takara-bio.co.jp

E-Mail address:            (thru the URL)

 

 

ACTIVITIES

 

Mfg of shochu (distilled spirit)

 

 

BRANCHES

 

Kusatsu, Tokyo, Yokkaichi

 

 

OVERSEAS

 

USA, Europe, Korea, China, India

 

 

FACTORIES

 

Kusatsu, at the caption address

 

CHIEF EXEC

 

HISSASHI OHMIYA, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                 　A/SALES       Yen 19,578 M

PAYMENTS      REGULAR         　CAPITAL        Yen 13,226 M

TREND UP                    　WORTH         Yen 38,413 M

STARTED         1925                 　EMPLOYES   3,380

 

 

COMMENT

 

MFR OF SHOCHU (DISTILLED SPIRIT) 

 

FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

                        Unit: In Million Yen

Forecast figures for the 31/03/2013 fiscal term.

 

 

HIGHLIGHTS

 

This is a super-ranked mfr of shochu (distilled spirit) and mirin (sweet sake for seasoning).  Also leading maker of “sake” and “Chuhai” (flavored alcoholic beverage based on shochu).  Leads other firms in bio-business including gene analysts.  Distributes Scotch and bourbon whiskies.  Formed a holding company, Takara Holdings Inc.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2012 fiscal term amounted to Yen 19,578 million, a 4.5% up from Yen 18,737 million in the previous term. .  Highball and whisky sales were on the upswing.  The recurring profit was posted at Yen 1,829 million and the net profit at Yen 1,023 million, respectively, compared with Yen 1,278 million recurring profit and Yen 605 million net profit, respectively, a year ago.

 

For the current term ending Mar 2013 the recurring profit is projected at Yen 1,850 million and the net profit at Yen 1,100 million, on a 7.8% rise in turnover, to Yen 21,100 million.

 

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

 

 

REGISTRATION

           

Date Registered:　Sept 1925

Legal Status:      Limited Company (Kabushiki Kaisha

Authorized:        1 million shares

Issued:               282,289 shares

Sum:                   Yen 13,226 million

 

Major shareholders (%): Japan Trustee Services T (5.1), Master Trust \bank of Japan T (5.1), Company’s Treasury Stock (4.4), Mizuho Corporate Bank (4.4), Norin Chukin Bank (4.1), Meiji Yasuda Life Ins (2.4), Bank of Kyoto (2.2), Kokubu & Co Ltd (1.6), Japan Alcohol Trading (4.3), Group Employees’ S/Holding Assn (1.3); foreign owners (8.3)

 

No. of shareholders: 25,892

 

Listed on the S/Exchange (s) of: Tokyo

 

Managements: Koichi Nakao, pres; Hisashi Ohmiya, ch; Mutsumi Kimura, v pres; Kazutoh Takasago, s/mgn dir; Makoto Moriguchi, s/mgn dir; Jawaharlal Bhaji, dir

 

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

 

 

OPERATION

           

Activities: Mfg liquor, seasoning & distribution (87%), research agent, scientific instruction and mushroom (10%), health foods (1%), others (1%)

           

Clients: [Mfrs, wholesalers] Katayama Chemical Ind, Rikaken, Ikeda Rika, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Fuji Chemical Ind, Sanyo Electric, other

 

Payment record: Regular

 

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

 

Bank References:

Mizuho Corporate Bank (Kyoto)

Relations: Satisfactory

FINANCES

 (In Million Yen)

 

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2012

31/03/2011

INCOME STATEMENT

 

 

 

  Annual Sales

　

19,578

18,737

 

  Cost of Sales

9,194

8,858

 

      GROSS PROFIT

10,383

9,878

 

  Selling & Adm Costs

8,836

8,781

 

      OPERATING PROFIT

1,547

1,097

 

  Non-Operating P/L

282

179

 

      RECURRING PROFIT

1,829

1,276

　

      NET PROFIT

1,023

605

BALANCE SHEET

 

 

 

 

  Cash

　

17,880

17,429

 

  Receivables

 

5,548

4,732

 

  Inventory

 

2,209

1,931

 

  Securities, Marketable

2,527

1,599

 

  Other Current Assets

1,693

1,731

 

      TOTAL CURRENT ASSETS

29,857

27,422

 

  Property & Equipment

10,542

10,889

 

  Intangibles

 

2,150

2,412

 

  Investments, Other Fixed Assets

1,483

1,871

 

      TOTAL ASSETS

44,032

42,594

 

  Payables

 

1,662

1,168

 

  Short-Term Bank Loans

58

45

 

　

 

　

　

 

  Other Current Liabs

2,114

1,895

 

      TOTAL CURRENT LIABS

3,834

3,108

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

335

364

 

  Reserve for Retirement Allw

1,127

1,131

 

  Other Debts

　

322

370

 

      TOTAL LIABILITIES

5,618

4,973

 

      MINORITY INTERESTS

 

 

 

Common stock

9,069

9,068

 

Additional paid-in capital

26,996

26,995

 

Retained earnings

4,584

3,561

 

Evaluation p/l on investments/securities

(2,288)

(2,017)

 

Others

 

52

13

 

Treasury stock, at cost

　

　

 

      TOTAL S/HOLDERS` EQUITY

38,413

37,620

　

      TOTAL EQUITIES

44,032

42,594

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2012

31/03/2011

 

Cash Flows from Operating Activities

　

2,366

2,093

 

Cash Flows from Investment Activities

-531

-5,639

 

Cash Flows from Financing Activities

-4

-60

　

Cash, Bank Deposits at the Term End

　

5,803

4,047

ANALYTICAL RATIOS            Terms ending:

31/03/2012

31/03/2011

 

 

Net Worth (S/Holders' Equity)

38,413

37,620

 

 

Current Ratio (%)

778.74

882.30

 

 

Net Worth Ratio (%)

87.24

88.32

 

 

Recurring Profit Ratio (%)

9.34

6.81

 

 

Net Profit Ratio (%)

5.23

3.23

 

 

Return On Equity (%)

2.66

1.61

 

 

           

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.92

UK Pound

1

Rs.88.91

Euro

1

Rs.71.25

 

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.