MIRA INFORM REPORT
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Report Date : |
02.07.2013 |
IDENTIFICATION DETAILS
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Name : |
MUTOH CO LTD |
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Registered Office : |
4-1-15 Nishi Kita-11-Jo Sapporo Hokkaido 001-0011 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
March 1949 |
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Com. Reg. No.: |
4300-01-016743 (Sapporo-Kitaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of medical equipment & supplies |
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No. of Employees : |
825 |
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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Maximum Credit
Limit: |
Yen 620.3 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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
MUTOH CO LTD
REGD NAME: KK
Mutoh
MAIN OFFICE: 4-1-15
Nishi Kita-11-Jo Sapporo Hokkaido 001-0011 JAPAN
Tel:
011-746-5111 Fax: 011-717-0547
*.. The is its Tokyo
Headquarters (Office)
URL: http://www.wism-mutoh.co.jp
E-Mail address: (thru the URL)
Import, export,
wholesale of medical equipment & supplies
74 locations nationwide
from Hokkaido to Okinawa
USA
(subsidiaries)
NOBUYUKI TAO, PRES Jun’ichi Suzuki, v pres
Fumio Nakayama, v
pres Tohru Iwaki,
s/mgn dir
Koki Chikuno, mgn
dir Kunihiko Kato, mgn dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 117,130 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 501 M
TREND UP WORTH Yen 3,740 M
STARTED 1949 EMPLOYES 825
TRADING FIRM SPECIALIZING IN MEDICAL EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 620.3 MILLION, 30 DAYS NORMAL TERMS
The subject company was
established originally in 1918 by S Mutoh for selling medical supplies, on his
account, as Mutoh Kikaiten KK.
Incorporated in 1949 the firm ahs been succeeded by his
descendants. In 1970 renamed as
captioned. This is a trading firm, the
core of Mutoh group, for import, export and wholesale of medical devices &
supplies, scientific instruments, others.
The group consists of 18 firms in the engineering/mfg, trading,
distribution, other. Operates a
subsidiary firm in USA. The firm has
grown thru several mergers, capital participation, take-over, acquisition,
etc. Clients include hospitals,
universities, local municipalities, other
The sales volume for
Jun/2012 fiscal term amounted to Yen 117,130 million, a 2% up from Yen 115,334
million in the previous term. Medical
health-care equipment & supplies were in good demand amid the increasing
aging/elderly population. The recurring
profit was posted at Yen 353 million and the net profit at Yen 182 million,
respectively, compared with Yen 518 million recurring profit and Yen 100
million net profit, respectively, a year ago.
For the term that just
ended Jun 2013 the recurring profit was projected at Yen 360 million and the
net profit at Yen 200 million, respectively, on a 3% rise in turnover, to Yen
120,500 million. Business is seen expanding
steadily. Final results are yet to be
released.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 620.3
million, on 30 days normal terms.
Date Registered: Mar 1949
Regd No.:
4300-01-016743 (Sapporo-Kitaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 40 million shares
Issued: 10, million shares
Sum: Yen 501.18 million
Major shareholders (%): Sumie Mutoh (9),
Employees’ S/Holding Assn (6), Nobuyuki Tao (4), Hokkaido Bank (2), North
Pacific Bank (2)
No. of shareholders: 275
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales medical devices/supplies, scientific instruments, others
(--100%)
(Handling
Items): atmosphere exposure chamber, bandage, bioreactor, indwelling catheter,
contraceptive device, culture media, dental equipment, diagnostic equipment,
disposable equipment, durable medical equipment, electrical equipment &
supplies, emergency medical tag, hospital equipment & supply, feminine
hygiene products, gamma camera, gas scavenger, gastric balloon, gravity suit,
incubator, infant equipment, infusion pump, intermittent pneumatic compression
device, medicine chest, micro-bubble, microspore filter, microsphere,
nanosphere, , nebulizers & vaporizers, needle, optical device, oxygenator,
imaging phantom, prostheses & implants, protective device, radiation
equipment & supplies, radio frequency identification device, diagnostic
reagent kit, self-help device, sensory aid, surgical equipment
surgically-created structure, syringe, thermometer, X-ray computed tomography
scanner, toumiquest, transplant, mechanical ventilator, x-ray film, X-ray
intensifying screen, other.
Clients: [Mfrs,
wholesalers] Tokokai Assn, Hokkaido University, Hokkaido Prefectural Welfare
Federation of Agricultural Cooperatives, Tokushukai Group, Caress Sapporo,
other
No. of accounts:
800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Terumo Corp, Johnson & Johnson, Striker Japan, Olympus Medical
Systems, Japan Medical Products, other
Payment record: No Complaints
Location: Business area in
Sapporo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
North Pacific Bank
(Sapporo)
Hokkaido Bank
(Sapporo-Ekimae)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
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Annual
Sales |
|
120,500 |
117,130 |
115,334 |
112,493 |
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Recur.
Profit |
|
360 |
353 |
518 |
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Net
Profit |
|
200 |
182 |
100 |
496 |
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Total
Assets |
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55,482 |
54,577 |
54,094 |
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Current
Assets |
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40,328 |
39,079 |
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Current
Liabs |
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43,828 |
43,432 |
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Net
Worth |
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3,740 |
3,729 |
3,665 |
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Capital,
Paid-Up |
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|
501 |
501 |
501 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.88 |
1.56 |
2.53 |
2.50 |
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Current Ratio |
|
.. |
92.01 |
89.98 |
.. |
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N.Worth Ratio |
.. |
6.74 |
6.83 |
6.78 |
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R.Profit/Sales |
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0.30 |
0.30 |
0.45 |
.. |
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N.Profit/Sales |
0.17 |
0.16 |
0.09 |
0.44 |
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Return On Equity |
.. |
4.87 |
2.68 |
13.53 |
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Notes: Forecast
(or estimated) figures for the 30/06/2013 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.59.14 |
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|
1 |
Rs.90.05 |
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Euro |
1 |
Rs.77.06 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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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 |
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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.