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Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
PANASONIC AGE-FREE SHOPS CO LTD |
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|
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Registered Office : |
1048 Kadoma Kadoma City Osaka-Pref 571-0050 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
August 2000 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale, leasing of nursing-care/rehabilitation equipment & facilities |
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No. of Employees : |
401 |
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 |
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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 (31.03.2011) |
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
small agricultural sector is highly subsidized and protected, with crop yields
among the highest in the world. While self-sufficient in rice production, Japan
imports about 60% of its food on a caloric basis. 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.
Modest economic growth continued after 2000, but the economy has fallen into
recession three times since 2008. A sharp downturn in business investment and
global demand for Japan's exports in late 2008 pushed Japan 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 and the ensuing tsunami in March disrupted manufacturing. The
economy has largely recovered in the two years since the disaster, but
reconstruction in the Tohoku region has been uneven. Newly-elected Prime
Minister Shinzo ABE has declared the economy his government's top priority; he
has pledged to reconsider his predecessor's plan to permanently close nuclear
power plants and is pursuing an economic revitalization agenda of fiscal
stimulus and regulatory reform and has said he will press the Bank of Japan to
loosen monetary policy. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2012 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 2012. The new government will
continue a longstanding debate 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
PANASONIC AGE-FREE SHOPS CO LTD
REGD NAME: Panasonic
Age Free Shops KK
MAIN OFFICE: 1048
Kadoma Kadoma City Osaka-Pref 571-0050 JAPAN
Tel:
06-6906-0865
URL: http://www.panasonic.co.jp/es/pesasp
E-Mail address: (thru the URL)
Wholesale, leasing
of nursing-care/rehabilitation equipment & facilities
Agent dealers
(nationwide)
KATSUNORI OKUDA,
PRES Takasuke Saitoh, dir
Tetsuya Sakaguchi,
dir Koichi Morita, dir
Hiroyuki Saitoh,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 12,473 M
PAYMENTS REGULAR CAPITAL Yen 200 M
TREND UP WORTH Yen 692 M
STARTED 2000 EMPLOYES 401
WHOLESALER, LEASING OF REHABILITATION/NURSING-CARE
EQUIPMENT, WHOLLY OWNED BY PANASONIC CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established by Panasonic Corp (See REGISTRATION)
in order to go into nursing-care/rehabilitation equipment business. The firm specializes in wholesale and leasing
of nursing-care/rehabilitation equipment & facilities. Goods are sold and leased thru agent dealers
(franchisees) nationwide.
The sales volume for
Mar/2012 fiscal term amounted to Yen 12,473 million, a 3% up from Yen 12,059 million
in the previous term. The recurring
profit was posted at Yen 537 million and the net profit at Yen 280 million,
respectively, compared with Yen 327 million recurring profit and Yen 186
million net profit, respectively, a year ago.
For the term that ended
2013 the recurring profit was projected at Yen 550 million and the net profit
at Yen 300 million, respectively, on a 4% rise in turnover, to Yen 13,000
million. Final results are yet to be
released.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Aug
2000
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 16,000 shares
Issued: 4,000 shares
Sum: Yen 200 million
Major
shareholders (%): Panasonic Corp* (100)
*..Largest comprehensive mfr of AV &
other home electric appliances, Osaka, founded
1935, listed Tokyo S/E, capital Yen 258,740 million, sales Yen 7,846,216
million, operating profit Yen 43,725 million, recurring loss Yen 812,844 million,
net loss Yen 772,172 million, total assets Ye n 5,744,186 million, net worth
Yen 1,340,665 million, employees 308,882, pres Kazuhiro Tsuga
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Wholesales &
leasing of nursing-care/rehabilitation facilities & equipment (--100%)
Clients: Franchisees,
consumers, hospitals, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Panasonic Corp, Nikken Leasing, other
Payment record: Regular
Location: Business area in
Kadoma City, Osaka. Office premises at
the caption address are owned and maintained satisfactorily.
Bank References:
SMBC (Osaka &
Kadoma)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
13,000 |
12,473 |
12,059 |
11,069 |
|
Recur.
Profit |
|
550 |
537 |
327 |
|
|
Net
Profit |
|
300 |
280 |
176 |
113 |
|
Total
Assets |
|
|
3,272 |
2,612 |
2,494 |
|
Current
Assets |
|
|
2,887 |
2,215 |
2,163 |
|
Current
Liabs |
|
|
2,160 |
1,585 |
1,599 |
|
Net
Worth |
|
|
692 |
500 |
380 |
|
Capital,
Paid-Up |
|
|
200 |
200 |
200 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.23 |
3.43 |
8.94 |
0.63 |
|
|
Current Ratio |
|
.. |
133.66 |
139.75 |
135.27 |
|
N.Worth Ratio |
.. |
21.15 |
19.14 |
15.24 |
|
|
R.Profit/Sales |
|
4.23 |
4.31 |
2.71 |
.. |
|
N.Profit/Sales |
2.31 |
2.24 |
1.46 |
1.02 |
|
|
Return On Equity |
.. |
40.46 |
35.20 |
29.74 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.