MIRA INFORM REPORT

 

 

Report Date :

24.11.2012

 

IDENTIFICATION DETAILS

 

Name :

AMCO INCORPORATED 

 

 

Registered Office :

4-8-7 Iidabashi Chiyodaku Tokyo 102-0072

 

 

Country :

Japan

 

 

Financials (as on) :

31.07.2012

 

 

Date of Incorporation :

January 1951

 

 

Com. Reg. No.:

(Tokyo-Chiyodaku) 010255

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of medical devices, scientific instruments

 

 

No. of Employees :

146 employees

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

 

 

Company name 

 

AMCO INCORPORATED

 

 

REGD NAME

 

KK Amco

 

 

MAIN OFFICE

 

4-8-7 Iidabashi Chiyodaku Tokyo 102-0072 JAPAN

Tel: 03-3265-4262     Fax: 03-3265-4271

 

URL:                 www.amco.co.jp  

E-mail:             info@amco.co.jp             

 

ACTIVITIES

 

Import, wholesale of medical devices, scientific instruments

 

 

BRANCHES

 

Osaka, Nagoya, Fukuoka, Sapporo, Sendai, Hiroshima

 

 

OFFICER(S)  

 

AKIHIRO KOSHIKAWA, PRES   Makoto Ishihara, mgn dir

Seiji Yamada, mgn dir                Teruo Hayashi, dir         

Kenzo Watanabe, dir                  Kimiyoshi Aizawa, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 8,098 M

PAYMENTS                  No Complaints          CAPITAL           Yen 84 M

TREND             STEADY                       WORTH            Yen 4,479 M

STARTED                     1951                             EMPLOYES      146

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN MEDICAL & SCIENTIFIC DEVICES. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$100,000 / O/A 60 DAYS

 

 

HIGHLIGHTS

           

The subject company was established by father of Yoichiro Sakata for importing medical devices from USA.  This is a trading firm specializing in importing and wholesaling medical devices & diagnostics, scientific equipment & devices, other (See OPERATION).  In 1967 imported artificial kidney apparatus for the first time in Japan.  Goods are imported from USA, Germany, other.  Clients include public hospitals, university hospitals, municipal hospitals, other, nationwide.  6 branch offices cover the domestic markets.

 

 

FINANCIAL INFORMATION

 

The sales volume for July/2012 fiscal term amounted to Yen 8,098 million, a 5% up from Yen 7,717 million in the previous term.  Ballooning elderly population is increasing needing medical treatment are increasing.  Artificial kidney apparatus & dialysis treatment increased. Emergency imports rose after the North Japan Earthquake.  The recurring profit was posted at Yen 1,694 million and the net profit at Yen 342 million, respectively, compared with Yen 1,377 million recurring profit and Yen 346 million net profit, respectively, a year ago.

 

For the current term ending July 2013 the recurring profit is projected at Yen 1,700 million and the net profit at Yen 350 million, respectively, on a 4% rise in turnover, to Yen 8,400 million.  Medical devices & diagnostics are steady growing.  Business is seen expanding steadily.

 

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

 

REGISTRATION

 

Date Registered:           Jan 1951

Regd No.:          (Tokyo-Chiyodaku) 010255

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　670,000 shares

Issued:             　168,480 shares

Sum:                　Yen 84.24 million

Major shareholders (%): Yoichiro Iida (21), Seiji Yamada (10), Akihiro Koshikawa (9), Kimiyoshi Aizawa (8)

No. of shareholders: 30

 

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

 

 

OPERATION

 

Activities: Imports and wholesales medical devices & diagnostics (80%), scientific equipment & devices, other (20%).  (% is all about)

 

Medical devices & diagnostics: cautery knife, organ plasma coagulator, operating table, full automatic aeroperitoria device, forceps, endoscope, trocal canula, headlight system, blood collecting device, osmometer, organs preservation facility, ECG electrode, blood pressure gauge, hemoglobin locator, pulse oximeter, MDI spacer, urination measuring instrument, fiberscope trocar, urine collector, headlight system, balloon dilator, other;

 

Scientific devices/equipment: elemental analyzer, full automatic microgen/protein identificator, surface area measuring device, ultrasonic level meter, field fluorescent photometer, bacteriopexy system, microbiogical accuracy control system, analrobic culture chamber system, sterilization indicator, scanalyzer, imaging flowcytmeter, environmental instruments, other. , 

 

Clients: [Mfrs, wholesalers] Mutoh Group, Miyano Medical Instruments, Yagami Co, Kyowa Medical Holdings, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Elbe, Konica Minolta, Fresenius Medical Care Japan, Integra, Steris Japan, Alpen Japan, Boston Scientific, Cobe Laboratories, Puritan Benette, Vitek Systems, other

 

Payment record: No Complaints 

 

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

 

Bank References:

Mizuho Bank (Iidabashi)

SMBC (Ueno)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/07/2013

31/07/2012

31/07/2011

31/07/2010

Annual Sales

　

8,400

8,098

7,717

6,986

Recur. Profit

　

1,700

1,694

1,377

862

Net Profit

　

350

342

346

214

Total Assets

　

　

7,674

7,305

6,388

Current Assets

　

　

6,259

5,981

5,186

Current Liabs

　

　

1,626

1,833

1,865

Net Worth

　

　

4,479

3,662

2,882

Capital, Paid-Up

　

　

84

84

84

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.73

4.94

10.46

1.63

    Current Ratio

 

..

384.93

326.30

278.07

    N.Worth Ratio

..

58.37

50.13

45.12

    R.Profit/Sales

 

20.24

20.92

17.84

12.34

    N.Profit/Sales

4.17

4.22

4.48

3.06

    Return On Equity

..

7.64

9.45

7.43

 

Notes: Forecast (or estimated) figures for the 31/07/2013 fiscal term. 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.34

UK Pound

1

Rs.88.30

Euro

1

Rs.71.37

 

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.