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Report Date : |
21.08.2013 |
IDENTIFICATION DETAILS
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Name : |
NIPPON SIGMAX CO LTD |
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Registered Office : |
Shinjuku Tower 33F, 6-8-1 Nishishinjuku Shinjukuku Tokyo 163-6033 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
August, 1970 |
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Com. Reg. No.: |
0111-01-036923 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of orthopedic medical devices & products |
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No. of Employees : |
245 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit: |
Yen 170.7 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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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 |
NIPPON SIGMAX CO
LTD
Nippon Sigmax KK
Shinjuku Tower 33F, 6-8-1 Nishishinjuku Shinjukuku Tokyo 163-6033 JAPAN
Tel: 03-5326-3200 Fax:
03-5326-3201
E-Mail address: sigmax-itn@sigmax.co.jp
Import, wholesale of orthopedic medical devices & products
Sapporo, Sendai, Saitama, Yokohama, Nagoya, Hiroshima, Matsuyama,
Fukuoka, other (tot 10)
Sigma Europe SAS (France, est. 2009), Sigma America Inc (USA, est. 2011),
Sigma (Huzhou) Medical Co Ltd (China, est. 2007), Shanghai (sales office)
KOZO SUZUKI, PRES Nobuaki
Tanaka, s/mgn dir
Hajime Takada, dir Yutaka
Machida, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen
9,284 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
90 M
TREND UP WORTH Yen 3,100 M
STARTED 1970 EMPLOYES 245
TRADING FIRM SPECIALIZING IN ORTHOPEDIC MEDICAL DEVICES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 170.7 MILLION, 30 DAYS NORMAL TERMS
The subject company was established in 1970 by Kozo Suzuki in order to
make most of his experience in the subject line of business. Actual operations started in 1974. This is a trading firm specializing in
orthopedic medical devices & products (see OPERATION). Operates 3
overseas companies in USA, France and China.
Clients include medical devices wholesalers, other. Director Hajime Takada is the contact.
Financials are only partially disclosed.
The sales volume for Mar/2013 fiscal term amounted to Yen 9,284 million,
a 7% up from Yen 8,658 million in the previous term. Demand increased amid the increasing number
of elderly population needing medical support and help. Ultrasound image diagnostic apparatus were in
much demand. The net profit was posted
at Yen 629 million, compared with Yen 328 million a year ago.
For the current term ending Mar 2014 the net profit is projected at Yen
640 million, on a 5% rise in turnover, to Yen 9,750 million. Business is seen expanding steadily.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 170.7 million, on 30
days normal terms.
Date Registered: Aug
1970
Regd No.: 0111-01-036923
(Tokyo-Shinjukuku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 720,000 shares
Issued:
180,000
shares
Sum: Yen 90 million
Major shareholders
(%): Kozo Suzuki (45.9),
Avanti Co Ltd* (30%), other
No. of
shareholders: 17
*.. Avanti Co Ltd, importer of raw cotton/yarns from Texas/Calif, Tokyo,
founded 1985, capital Yen 20 million, sales Yen 861 million, net profit Yen 12
million, employees 28, pres Chieko Watanabe
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales orthopedic medical devices & products (rigid braces, supports,
DVT preventive products, cold therapy products), electrical muscle stimulation
devices for sports, medical fibers/cotton/cloth (sanitary cotton, gauze,
bandage, medical corset, other), others (--100%).
Clients: [Mfrs,
wholesalers] Mediceo Medical Corp, Sanshodo Co, Shibata Intec, Suzuken Co,
Kyoyu Medical Corp, Kawamura Gishi Co (Gishi means artificial legs/arms),
Kawanishi Holdings Inc, Takeyama Co, dj Orthopedics, Bunyusha Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sawamura KK, Morito Co, Nippon Iryo Supporter KK (Iryo means
medical), BSN, Ohm Electric Co, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Iidabashi)
Higashi Nippon Bank (Iidabashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual Sales |
|
9,750 |
9,284 |
8,658 |
8,451 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
640 |
629 |
328 |
357 |
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Total Assets |
|
|
N/A |
N/A |
N/A |
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Net Worth |
|
|
3,100 |
2,471 |
2,143 |
|
Capital, Paid-Up |
|
|
90 |
90 |
90 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.02 |
7.23 |
2.45 |
2.74 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
|
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N.Profit/Sales |
6.56 |
6.78 |
3.79 |
4.22 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.73 |
|
|
1 |
Rs.99.78 |
|
Euro |
1 |
Rs.85.07 |
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 |
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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 |
|
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.