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Report Date : |
10.12.2013 |
IDENTIFICATION DETAILS
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Name : |
LIVEDO CORPORATION |
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Registered Office : |
45-2 Handa-Otsu Kanadacho Shikoku-Chuo
City Ehime-Pref 799-0122 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
April 1965 |
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Com. Reg. No.: |
5000-01-014723 (Ehime-Shikoku-Chuo) |
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Legal Form : |
Limited Company |
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Line of Business : |
·
Manufacturer
& Sales of Disposable Adult Diapers Assembling, Distribution & Sales of
Medical Disposable Products. |
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No. of Employees : |
880 |
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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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
LIVEDO CORPORATION
KK Livedo
Corporation
45-2 Handa-Otsu
Kanadacho Shikoku-Chuo City Ehime-Pref 799-0122 JAPAN
Tel:
0896-58-3019 Fax: 0896-58-2570
*.. The is its
Osaka Branch Office
URL: www.livedo.jp/
E-Mail address: askd@livedo.jp
·
Manufacture &
Sales of Disposable Adult Diapers
Assembling, Distribution & Sales of Medical Disposable
Products.
Tokyo,
Osaka, Nagoya, Fukuoka, Kanazawa, Sendai, Kobe, Shizuoka
At the
caption address, Tokushima (3), Tochigi
MASASHI UDA, PRES Tokuhiro
Ishikawa, mgn dir
Kunihisa Kodera, mgn dir Fumihito
Uda, dir
Keiichi Ishikawa, dir Takao Kusumi dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 37,910 M
PAYMENTS No
Complaints CAPITAL Yen
773 M
TREND STEADY WORTH Yen
8,198 M
STARTED 1965 EMPLOYES 880
MFR SPECIALIZING IN PAPER DIAPER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
.
The subject company was established by Naomasa Uda in order to mfg paper diaper for babies. Originally titled as Toyo Eizai KK and renamed as captioned in Apr 2002. Masashi is the founder’s son, who took the office of presidency in Jan 1988, when the founder was promoted to the chairman. The firm has been expanding its handling items with main line now being paper diapers for adults and other nursing care use. Also makes disposable underwear, disposable medical supplies, cleaning materials for factories, etc. Goods are imported and exported through its subsidiary trading firm, Harvest Corporation, situated at the subject’s Osaka Office.
The sales volume for Mar/2013 fiscal term amounted to Yen 37,910 million, a 2% up from Yen 37,246 million in the previous term. This is attributed to the rising demand for paper diaper for adults and other nursing care use amid rapidly increasing aging population. The net RECURRING PROFIT WAS POSTED AT Yen 448 million and the net profit at Yen 144 million, respectively, compared with Yen 484 million recurring profit and Yen 444 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at Yen 450 million and the net profit at Yen 150 million, respectively, on a 6% rise in turnover, to Yen 40,000 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr
1965
Regd No.: 5000-01-014723 (Ehime-Shikoku-Chuo)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
6.18 million shares
Issued:
1,546,480 shares
Sum: Yen 773.24
million shares
Major shareholders (%): Toyo KK*(20), Employees’
S/Holding Assn (18), Masashi Uda (14), Kao Corp (13), Iyo Bank (4)
*..
Holding company owned by the Uda family
No. of shareholders: 49
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures paper diapers for adult use (90%), surgical caps, masks, sterilized gauze, surgical wears, towels, other disposable supplies (--10%). (% is all about)
Clients: [Hospitals, specialty stores, drugstores] Kao Corp, Iwatsuki Co, PIP Co, Care Max Corp, Watakyu Seimoa Corp, Hakuzo Medical, Arata Corp, Pigeon Tahira Corp, AST Corp, Hokkaido Kokuyo, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Corp, Mores Co, Marukawa Co, Nissei Ltd, Fukusuke Kogyo Co, Sun-Dia Polymer, Marubeni Corp, Nissho Iwai Paper & Pulp Corp, Toyotsu Chemiplas Corp, Asahi Kasei Fibers Corp, other
.
Payment record: No Complaints
Location: Business area in Ehime-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Iyo
Bank (Kawanoe)
Mizuho
Bank (Imabari)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
40,000 |
37,910 |
37,246 |
36,802 |
|
Recur.
Profit |
|
450 |
448 |
484 |
|
|
Net
Profit |
|
150 |
144 |
444 |
478 |
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Total
Assets |
|
|
31,792 |
29,243 |
27,693 |
|
Current
Assets |
|
|
17,904 |
18,582 |
|
|
Current
Liabs |
|
|
16,688 |
16,356 |
|
|
Net
Worth |
|
|
8,198 |
7,924 |
7,504 |
|
Capital,
Paid-Up |
|
|
773 |
773 |
773 |
|
Div.P.Share(¥) |
|
|
|
|
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.51 |
1.78 |
1.21 |
5.90 |
|
|
Current Ratio |
|
.. |
107.29 |
113.61 |
.. |
|
N.Worth Ratio |
.. |
25.79 |
27.10 |
27.10 |
|
|
R.Profit/Sales |
|
1.13 |
1.18 |
1.30 |
.. |
|
N.Profit/Sales |
0.38 |
0.38 |
1.19 |
1.30 |
|
|
Return On Equity |
.. |
1.76 |
5.60 |
6.37 |
|
Notes: Forecast (or estimated) figures for
31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.79 |
|
UK Pound |
1 |
Rs.100.01 |
|
Euro |
1 |
Rs.83.82 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
|
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.