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Report Date : |
09.08.2013 |
IDENTIFICATION DETAILS
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Name : |
IPSEN COMPANY LTD |
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Registered Office : |
2-3-2 Yasuda Tsurumiku Osaka 538-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
September 2008 |
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Com. Reg. No.: |
1300-01-037442 (Osaka-Tsurumiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of industrial furnaces |
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No. of Employees : |
25 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
IPSEN COMPANY LTD
REGD NAME: Ipsen
KK
MAIN OFFICE: 2-3-2
Yasuda Tsurumiku Osaka 538-0032 JAPAN
Tel:
06-7506-9705 Fax: 06-6915-1134
URL: http://www.ipsenjapan.com
E-Mail address: sales@ipsenjapan.com
Mfg of industrial
furnaces
Nil
Germany
At the caption
address
Office : 68 Ichida
Kumiyamacho Kuzegun Kyoto Pref 613-0022, Japan
OIMANN LUDGER,
PRES
Hisanori Oshiba,
rep dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 1,080 M
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 200 M
TREND SLOW WORTH Yen (-) 10 M
STARTED 2008 EMPLOYES 25
MFR OF INDUSTIRAL FURNACES, OWNED BY GERMAN CAPITAL.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was
established by Ipsen International GmbH, Germany, as its mfg and marketing base
in Japan. This is a specialized mfr of industrial
furnaces: gas furnaces, heating furnaces, other. Clients include heavy machinery makers,
wholesaler, other.
Financials are only
partially disclosed.
The sales volume for Dec/2012 fiscal term
amounted to Yen 1,080 million, a 12% down from Yen 1,227 million in the
previous term. The operations plunged
into the red to post Yen 26 million net losses for the term, compared with Yen
16 million net profit a year ago.
For the current term
ending Dec 2013 the operations are projected to come back to profitability to
post Yen 25 million net profit, on a 6% rise in turnover, to Yen 1,150
million.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements.
Date Registered: Sept 2008
Regd No.: 1300-01-037442
(Osaka-Tsurumiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 4,000 shares
Issued: 4,000 shares
Sum: Yen 200 million
Major shareholders (%): Ipsen
International Holding GmbH (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
industrial furnaces: gas furnaces, heating furnaces, others (--100%)
Clients: [Mfrs,
wholesalers] Mitsubishi Material, Mitsubishi Heavy Ind, Kawasaki Heavy Ind,
Hitachi Tool, Saga Tekkosho, Meira Corp, Sugiura Seisakusho, Matsumoto Heavy
Ind, Shimano Inc, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Ipsen & Group firms, Sangyo Shizai Hambai Co, Daishin Denki
Office, Covalent Material Corp, Showa Seiki Co, other
Payment record: Slow but correct
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Kyoto)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Annual
Sales |
|
1,150 |
1,080 |
1,227 |
650 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
25 |
-26 |
16 |
-100 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
-10 |
36 |
52 |
|
Capital,
Paid-Up |
|
|
200 |
200 |
200 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.48 |
-11.98 |
88.77 |
-48.00 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
2.17 |
-2.41 |
1.30 |
-15.38 |
|
Notes: Financials are
only partially disclosed.
Forecast (or
estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.94.77 |
|
Euro |
1 |
Rs.81.54 |
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.