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Report Date : |
23.04.2013 |
IDENTIFICATION DETAILS
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Name : |
OG GIKEN CO LTD |
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Registered Office : |
1835-7 Miyoshi Nakaku Okayama 703-8261 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2012 |
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Date of Incorporation : |
September 1966 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of electro-medical equipment &
rehabilitation equipment |
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No. of Employees : |
342 |
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 : |
Good |
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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 |
|
Risk Category |
ECGC
Classification |
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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 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 |
OG GIKEN CO LTD
O. G. Giken KK
1835-7 Miyoshi
Nakaku Okayama 703-8261 JAPAN
Tel:
086-277-7181
Fax: 086-274-9072
URL: http://www.og-giken.co.jp
E-Mail address: (thru the URL)
Mfg of
electro-medical equipment & rehabilitation equipment
Tokyo,
Osaka, Nagoya, Yokohama, Kyoto Kobe, other (Tot 23)
Okayama
HIROSHI
OKUDA, PRES Makoto Wada, mgn
dir
Sumio
Namba, dir Yasuhiko
Ozaki, dir
Kiyotoshi
Goda, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 11,463 M
PAYMENTS REGULAR CAPITAL Yen
40 M
TREND UP WORTH Yen 15,310 M
STARTED 1966 EMPLOYES 342
MFR OF MEDICAL/REHABILITATION EQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1949 by Iwao Okuda for
making medical equipment, on his account, as Medical Welfare & Health Care Appliances,
and was incorporated in 1966, as OG Giken Co Ltd. This is a specialized mfr of medical/welfare
& healthcare equipment (See OPERATION). Nation’s top mfr of these facilities, with
high share in bath-tubs for rehabilitation facilities. Clients include medical equipment makers,
wholesalers, other.
Financials are only partially disclosed.
The sales volume for Apr/2012 fiscal term amounted to Yen 11,463
million, a 17% up from Yen 9,783 million in the previous term. Demand for bath-tubs rose from rehabilitation
& nursing-care facilities. The net
profit was posted at Yen 1,266 million, compared with Yen 975 million a year
ago.
For the current term ending Apr 2013 the net profit is projected at Yen
1,300 million, on a 3% rise in turnover, to Yen 11,800 million. Demand for baths continue rising.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date
Registered: Sept 1966
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
320,000 shares
Issued:
80,000 shares
Sum: Yen 40 million
Major shareholders (%): Eishin (50.2), Hiroshi Okuda
(44.7), Nikken (5.1)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
electro-medical equipment, rehabilitation equipment: motorized intermittent
traction apparatus, microwave therapy apparatus, low frequency stimulator, ultrasonic
therapy apparatus, interference therapy apparatus, transcutaneous simulator,
paraffin bath, moist hot packs, consumable & spare goods, other.
(Sales Ratios): baths/bath tubs
for rehabilitation/health-care (60%), electro-medical equipment, others (--40%)
Clients: [Mfrs,
wholesalers] Muranaka Medical Instruments Co, Kurihara Medical Instruments,
Makoto Medical Systems Inc, Yamashita Total Medical Support, Watakyu Seimoa
Corp, K I Ika Kikai, Yagami Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Komura Corp, Hikari Keikinzoku Co, Inter-Riha Co, Cateye Co, Medo
Ind Co, Panasonic Corp, Senoh Corp, other
Payment record: Regular
Location: Business area in
Okayama. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Chugoku Bank (H/O)
Mizuho Bank (Okayama)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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30/04/2013 |
30/04/2012 |
30/04/2011 |
30/04/2010 |
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Annual
Sales |
|
11,800 |
11,463 |
9,793 |
8,547 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
1,300 |
1,266 |
975 |
0 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
15,310 |
14,044 |
13,069 |
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Capital,
Paid-Up |
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|
40 |
40 |
40 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.94 |
17.05 |
14.58 |
3.05 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
11.02 |
11.04 |
9.96 |
0.00 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/04/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.17 |
|
UK Pound |
1 |
Rs.82.45 |
|
Euro |
1 |
Rs.70.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
---- |
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.