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Report Date : |
13.09.2012 |
IDENTIFICATION DETAILS
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Name : |
PACIFIC MEDICO CO LTD |
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Registered Office : |
Ochanomizu Wing Bldg 5F, 2-15-13 Hongo Bunkyoku |
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Country : |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
May 1985 |
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Com. Reg. No.: |
0100-01-006396 (Tokyo-Bunkyoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of medical equipment |
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No. of Employees : |
58 |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
PACIFIC MEDICO CO LTD
REGD NAME: Pacific
Medico KK
MAIN OFFICE: Ochanomizu
Wing Bldg 5F, 2-15-13 Hongo Bunkyoku
Tel:
03-3818-0571 Fax: 03-3818-0572
URL: http://www.pacific-medico.com
E-Mail address: (thru the URL)
Import, wholesale
of medical equipment
Hongo (divisions)
TOSHIHARU
KATAHIRA, PRES
Haruhito Katahira,
dir
Setsuko Katahira,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,459 M
PAYMENTS REGULAR CAPITAL Yen
50 M
TREND UP WORTH Yen 3,080 M
STARTED 1985 EMPLOYES 58
TRADING FIRM SPECIALIZING IN MEDICAL APPARATUS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established
by father of Toshiharu Katahira in order to make most of his experience in the
subject line of business. Toshiharu took
the pres office in Aug 1998. This is a
trading firm, wholly owned and operated by the Katahira family, for import and
wholesale of medical apparatus & supplies.
Operations divisions are: Ventilator product dept and respiratory care
product dept. Imports from USA, Germany,
Taiwan, China, other.
The sales volume for Sept/2011
fiscal term amounted to Yen 3,459 million, a 3% up from Yen 3,365 million in
the previous term. The recurring profit was
posted at Yen 1,151 million and the net profit at Yen 601 million,
respectively, compared with Yen 484 million net profit a year ago. The profits are the historically highest of
the company, thanks to the high Yen, as cost of imports are cheaper than the
actual selling prices.
For the current term ending Sept
2012 the recurring profit is projected at Yen 1,200 million and the net profit
at Yen 630 million, respectively, on a 4% rise in turnover, to Yen
3,600Business is seen expanding steadily.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: May 1985
Regd No.:
0100-01-006396 (Tokyo-Bunkyoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 4,000 shares
Issued: 1,000 shares
Sum: Yen 50 million
Major shareholders (%): Toshiharu
Katahira (70), Haruhito Katahira (21)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales ventilator products, respiratory care products, others (100%).
(Handling
Items):
Ventilator
Products: LTV ventilator, humidifier heater base, humidification chamber, remote
wireless monitoring system, manual resuscitator;
Respiratory
Care Products: Suction units, nebulizer, oral care, pulse oximeter, sleep diagnostic
device, other.
Clients: [Mfrs,
wholesalers] Philips Respironics GK, Fukuda Denshi, Omron Colin Co, Sanei
Vitals, Pacific Electronics, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] WIL Amed GmbH (Germany), Pegasus Research, Care Fusion, Astro-Med
Inc (--USA), Vincent Medical (China), Gale Med Corp (Taiwan), other.
Domestically: Philips Respironics GK,
Pacific Denshi Co, Fukuda Denshi, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Hongo)
Mizuho Bank
(Hongo)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
30/09/2012 |
30/09/2011 |
30/09/2010 |
30/09/2009 |
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Annual
Sales |
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3,600 |
3,459 |
3,365 |
3,296 |
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Recur.
Profit |
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1,200 |
1,151 |
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Net
Profit |
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630 |
601 |
484 |
505 |
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Total
Assets |
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4,093 |
N/A |
2,614 |
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Current
Assets |
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3,474 |
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2,395 |
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Current
Liabs |
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739 |
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494 |
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Net
Worth |
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3,080 |
2,484 |
2,005 |
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Capital,
Paid-Up |
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50 |
50 |
50 |
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Div.P.Share(¥) |
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5.00 |
5.00 |
5.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.08 |
2.79 |
2.09 |
28.80 |
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Current Ratio |
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.. |
470.09 |
.. |
484.82 |
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N.Worth Ratio |
.. |
75.25 |
.. |
76.70 |
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R.Profit/Sales |
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33.33 |
33.28 |
.. |
.. |
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N.Profit/Sales |
17.50 |
17.37 |
14.38 |
15.32 |
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Return On Equity |
.. |
19.51 |
19.48 |
25.19 |
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Notes: Forecast
(or estimated) figures for the 30/09/2012 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.26 |
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1 |
Rs.88.85 |
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Euro |
1 |
Rs.71.13 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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.