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Report Date : |
30.07.2013 |
IDENTIFICATION DETAILS
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Name : |
COSMOTEC CO LTD |
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Registered Office : |
Twin View Ochanomizu Bldg 1F, 2-3-9 Hongo Bunkyoku Tokyo 113-0033 |
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Country : |
Japan |
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Date of Incorporation : |
December 1992 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of cardio surgical instruments, other |
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No. of Employees : |
90 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Unknown |
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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 |
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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
COSMOTEC CO LTD
REGD NAME: Cosmotec
KK
MAIN OFFICE: Twin
View Ochanomizu Bldg 1F, 2-3-9 Hongo Bunkyoku Tokyo 113-0033 JAPAN
Tel:
03-5802-3832 Fax: 03-5804-8416
E-Mail address: info@cosmotec.com
Import, wholesale
of cardio surgical instruments, other
Sapporo, Sendai,
Nagoya, Osaka, Okayama, Fukuoka
AKIO YOSHIDA, PRES Keizo Inagaki, mgn dir
Kazumi Ueda, dir Shin’ichi Aoyama, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 9,000 M*
PAYMENTSUNKNOWN CAPITAL Yen 200 M
TREND STEADY WORTH Yen 850 M*
STARTED 1992 EMPLOYES 90
*.. Figures are only
estimated, as the firm stopped disclosing financials after Dec/2009 fiscal term
IMPORTER OF CARDIO
SURGICAL INSTRUMENTS, OTHER MEDICAL
INSTRUMENTS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was
established by Akio Yoshida in order to make most of his experience in the
subject line of business. This is a
trading firm for importing and wholesaling cardio surgical instruments &
supplies centrally, other related medical instruments. Goods are shipped to hospitals, universities,
other. Operates a distribution center in
Tokyo.
Financials are not
disclosed. We have obtained the following
figures from outside sources only, as the firm declined to disclose any of its
financial data.
The sales volume for Dec/2012 fiscal term
amounted to Yen 9,000 million, with net profits at Yen 90 million. No further details are available.
The financial situation
is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1992
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 16,000 shares
Issued:
4,000 shares
Sum: Yen 200 million
Major shareholders (%): Akio Yoshida
(100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales cardio surgical instruments and supplies, other related equipment
and supplies (--100%).
(Handling
Items): artificial heart-lung machines (blood pumps); artificial lung;
artificial heart valves; artificial blood vessel; surgical instruments &
supplies, other
Clients: Hospitals,
university hospitals, other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Medical goods
mfrs] Medtronic Inc, Kawasumi Laboratories Inc, Baxter Japan, Sorin Biomedica
Japan, Medico’s Hirata Inc, other.
Payment record: Unknown
Location: Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References:
MUFG (Kasugacho)
Mizuho Bank
(Hongo)
Relations:
Satisfactory
(In Million Yen)
NOT
DISCLOSED AND UNAVAILABLE
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.29 |
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|
1 |
Rs.91.18 |
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Euro |
1 |
Rs.78.71 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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.