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Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
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Name : |
ROBERT REID INC |
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Registered Office : |
Koishikawa 4-chome Bldg 1F, 4-22-2
Koishikawa Bunkyoku Tokyo 112-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
September 1953 |
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Com. Reg. No.: |
0115-01-005046 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Imports, wholesales orthopedic surgical
devices |
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No. of Employees : |
54 |
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 : |
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 |
|
High |
B2 |
|
Very High |
C1 |
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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
ROBERT REID INC
REGD NAME: KK
Robert Reid Shokai
MAIN OFFICE: Koishikawa
4-chome Bldg 1F, 4-22-2 Koishikawa Bunkyoku Tokyo 112-0002
JAPAN
Tel: 03-3830-7373
Fax: 03-3830-7376
*.. Moved to the operating
office to the caption address, while the
still remains as
registered office address
URL: http://www.robert-reid.co.jp
E-Mail address: (thru the URL)
Imports, wholesales
orthopedic surgical devices
Itabashi
HIDEO SHITOTO,
PRES
Yoichi Shitoto,
dir
Katsuo Shitoto,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,095 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 64 M
TREND UP WORTH Yen 3,360 M
STARTED 1953 EMPLOYES 54
TRADING FIRM SPECIALAIZING IN ORTHOPETIC SURGICAL PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company is an old-established firm dating back to 1917 when
the Reid family, USA, exporter of medical instruments since 1894 started “Reid
& Brothers Inc” in Tokyo. After the
end of World War II, reorganized in 1953 by K Hashimoto as agent for Zimmer,
USA for importing its orthopedic instruments, and renamed as captioned. Goods imported from USA & Europe. Clients include medical institutions,
hospitals, universities, other.
Financials are only partially disclosed, with profits undisclosed..
The sales volume for Mar/2013 fiscal term amounted to Yen 1,095 million,
a 15% rise from Yen 953 million in the previous term. Demand for medical equipment rose amid the
increasing aging people in Japan. The
net profit is estimated posted at Yen 120 million, compared with Yen 90 million
a year ago.
For the current term ending Mar 2014 the net profit is projected at Yen
125 million, on a 3% rise in turnover, to Yen 1,130 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Sept 1953
Regd No.:
0115-01-005046 (Tokyo-Kitaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 519,920 shares
Issued: 129,980 shares
Sum: Yen 64.99 million
Major shareholders (%): Hideo Shitoto
& families (--100)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales orthopedic surgical products/ equipment/ supplies, other medical
instruments (--100%)
Clients: [Mfrs,
wholesalers] Mutou Group, Takeyama, Kawanishi Holding Inc, Masuda Medical
Instruments, Konishi Medical Instruments, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Consensus Orthopedics Inc, Tech Industries, IMDS, Adler Inc, Comed
Medical, Osteomed Corporation, Small Bone Inn, Millenium Medical, other
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References: MUFG
(Ikebukuro-Nishiguchi)
Mizuho Bank
(Komagome)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual
Sales |
|
1,130 |
1,095 |
953 |
901 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
125 |
120 |
90 |
80 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
3,360 |
3,240 |
3,150 |
|
Capital,
Paid-Up |
|
|
64 |
64 |
64 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.20 |
14.90 |
5.77 |
52.71 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
11.06 |
10.96 |
9.44 |
8.88 |
|
Notes: Financials
are only partially disclosed. Profits
are not disclosed and estimated only.
Forecast (or
estimated) figures for the 31.03.2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.99 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.