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Report Date : |
01.11.2012 |
IDENTIFICATION DETAILS
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Name : |
NIHON MEDI-PHYSICS CO LTD |
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Registered Office : |
3-4-10 Shinsuna
Kotoku |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
March
1973 |
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Com. Reg. No.: |
(Tokyo-Kotoku)
035335 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of radioactive pharmaceuticals, radioactive
medical devices |
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No. of Employees : |
828 employees |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
japan - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a strong
work ethic, mastery of high technology, and a comparatively small defense
allocation (1% of GDP) helped Japan develop a technologically advanced economy.
Two notable characteristics of the post-war economy were the close interlocking
structures of manufacturers, suppliers, and distributors, known as keiretsu,
and the guarantee of lifetime employment for a substantial portion of the urban
labor force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - a 10% average in the 1960s,
a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed
markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s
that required a protracted period of time for firms to reduce excess debt,
capital, and labor. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001, and
third-place India, which edged out Japan in 2011. A sharp downturn in business
investment and global demand for Japan's exports in late 2008 pushed Japan
further into recession. Government stimulus spending helped the economy recover
in late 2009 and 2010, but the economy contracted again in 2011 as the massive
9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies
remain tight because Japan has temporarily shut down almost all of its nuclear
power plants after the Fukushima Daiichi nuclear reactors were crippled by the
earthquake and resulting tsunami. Estimates of the direct costs of the damage -
rebuilding homes, factories, and infrastructure - range from $235 billion to
$310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko
NODA has proposed opening the agricultural and services sectors to greater
foreign competition and boosting exports through membership in the US-led
Trans-Pacific Partnership trade talks and by pursuing free-trade agreements
with the EU and others, but debate continues on restructuring the economy and
reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent
deflation, reliance on exports to drive growth, and an aging and shrinking
population are other major long-term challenges for the economy.
|
Source : CIA |
NIHON MEDI-PHYSICS CO LTD
Nihon Medi-Physics
KK
3-4-10 Shinsuna
Kotoku Tokyo 130-0076JAPAN
Tel:
03-5634-7006 Fax: 03-5634-7646
URL: http://www.nmp.co.jp
E-Mail address: info@nmp.co.jp
Mfg of
radioactive pharmaceuticals, radioactive medical devices
Tokyo, Osaka, Nagoya, Sapporo, Sendai, Morioka, Yokohama, Kyoto, Kanazawa, Okayama, Hiroshima, Takamatsu, Fukuoka, other (Tot 33)
Los
Angeles, San Francisco (USA)
Chiba,
Sanda (Hyogo-Pref)
Tokyo,
Kobe, Kyoto, Sapporo, Odawara, Toyota, Okayama, Fukuoka
YUTAKA
TAKEUCHI, PRES
Naohiro Shimada, v pres
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 28,800 M
PAYMENTSREGULAR CAPITAL Yen
3,146 M
TREND SLOW WORTH Yen 34,100 M
STARTED 1973 EMPLOYES 828
MFR OF RADIOACTIVE PHARMACEUTICALS AND MEDICAL DEVICES, JOINTLY OWNED BY SUMITOMO CHEMICAL & GE HEALTHCARE .
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY CREDIT ENGAGEMENTS
The subject company was established as a joint venture of Medi-Physics Inc, USA, Sumitomo Chemical Co Ltd and Sumitomo Corporation. Through mergers and affiliation, the firm is now 50/50 owned by Sumitomo Chemical and GE Healthcare Ltd, effective in 2004, when the UK parent (Amersham Group) was absorbed by GE. This is a specialized mfr of radioactive pharmaceuticals, radioactive medical devices and their related products. Goods are both imported and exported. The firm is pursuing new business possibilities responding to needs in the medical care area in the increasing aging society in Japan. Its main business focus is in-vivo diagnostic radioactive pharmaceuticals used in highly specialized field of nuclear medicine, making steady progress in promotion of PET (positron emission tomography) agent for the early detection of malignant tumors (See OPERATION). Clients are major hospitals throughout Japan & overseas, mainly Asia and Oceania. Has two sales offices in USA, too.
The sales volume for Dec/2011 fiscal term amounted to Yen 28,800 million, a 7% down from Yen 31,110 million in the previous term. The Great East Japan Earthquake affected the sales. The recurring profit was posted at Yen 3,646 million and the net profit at Yen 1,849 million, respectively, compared with Yen 5,839 million recurring profit and Yen 3,454 million net profit, respectively, a year ago.
For the current term ending Dec 2012 the recurring profit was projected at Yen 3,700 million and the net profit at Yen 1,900 million, respectively, on a 4% rise in turnover, to Yen 30,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar
1973
Regd No.: (Tokyo-Kotoku) 035335
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 6,291,560 shares
Issued: 6,291,560 shares
Sum: Yen 3,145.78 million
Major shareholders (%): Sumitomo Chemical Co Ltd*(50), GE Healthcare Ltd (50)
No. of shareholders: 2
*.. Sumitomo Chemical Co Ltd, nation’s major comprehensive chemical mfr, Tokyo, founded 1925, listed Tokyo, Osaka S/E’s, capital Yen 89,699 million, turnover Yen 1,947,884 million, operating profit Yen 60,688 million, recurring profit Yen 50,714 million, net profit Yen 5,587 million, total assets Yen 2,406,814 million, net worth Yen 503,199 million, employees 29,839, pres Masakazu Tokura
Nothing detrimental is known as to the commercial morality of executives.
Activities: Research, development, mfg, sale, purchase and import/export of radioactive pharmaceuticals, radioactive medical devices and their related products (--100).
Newly developed PET (positron emission tomography) radio diagnostic, FDGScan injectable (generic name: Fludeoxyglucose (FDG): PET procedure allows early diagnosis of malignant tumors utilizing innovative imaging procedure. By injecting the agent into a patient’s body and taking an image of the agent accumulating in the targeted organ or lesion from outside the body, PET proce-dure is able to provide vital diagnostic information about the condition of diseases. In July 2005, the firm obtained approval for the use of FDGScan injectable as pharmaceu-tical, and this PET diagnostic agent began to be covered under Japan’s national health insurance in Sept the same year. Because the half-life of PET agent is as short as 2 hours, the firm has established nine supply facilities located close to major medical institutions for timely distribution nationwide.
(Cited from Sumitomo
Chemical Co’s annual report)
Clients: [Hospitals, universities, R&D centers] Japan Radioisotope Assn, Nippon Kayaku Co, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Pharmaceutical mfrs, chemical mfrs] Sumitomo Chemical, GE group, other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Osaka H/O)
Sumitomo
Trust Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
Annual
Sales |
|
30,000 |
28,800 |
31,110 |
30,728 |
|
Recur.
Profit |
|
3,700 |
3,646 |
5,839 |
5,965 |
|
Net
Profit |
|
1,900 |
1,849 |
3,454 |
3,350 |
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Total
Assets |
|
|
47,167 |
51,910 |
51,026 |
|
Current
Assets |
|
|
21,942 |
31,163 |
28,559 |
|
Current
Liabs |
|
|
3,839 |
4,526 |
5,577 |
|
Net
Worth |
|
|
34,100 |
38,687 |
36,579 |
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Capital,
Paid-Up |
|
|
3,145 |
3,145 |
3,145 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.17 |
-7.43 |
1.24 |
6.69 |
|
|
Current Ratio |
|
.. |
571.56 |
688.53 |
512.09 |
|
N.Worth Ratio |
.. |
72.30 |
74.53 |
71.69 |
|
|
R.Profit/Sales |
|
12.33 |
12.66 |
18.77 |
19.41 |
|
N.Profit/Sales |
6.33 |
6.42 |
11.10 |
10.90 |
|
|
Return On Equity |
.. |
5.42 |
8.93 |
9.16 |
|
Note:
Forecast (or estimated) for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.12 |
|
UK Pound |
1 |
Rs.87.08 |
|
Euro |
1 |
Rs.70.15 |
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 |
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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 |
|
---- |
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.