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Report Date : |
25.06.2013 |
IDENTIFICATION DETAILS
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Name : |
CAPSUGEL JAPAN INC |
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Registered Office : |
4-3-36 |
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Country : |
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Financials (as on) : |
30.11.2012 |
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Date of Incorporation : |
December 2001 |
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Com. Reg. No.: |
(Kanagawa-Chuoku) 046108 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of pharmaceutical capsules, capsule filling
machines |
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No. of Employees : |
160 |
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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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 |
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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 |
CAPSUGEL JAPAN INC
Capsugel Japan KK
4-3-36
Minamihashimoto Chuoku Sagamihara City Kanagawa-Pref 229-1133 JAPAN
Tel:
042-700-6700
Fax: 042-771-7397
URL: http://www.capsugel-jp.com
E-Mail address: marketingCJ@pfizer.com
Mfg of
pharmaceutical capsules, capsule filling machines
Nil
At the caption address
ROBERT
WHITELAW, PRES K Dreesen, ch
Hirokane
Kyoyama, v pres Hiroshi Toda, v
pres
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 7,100 M
PAYMENTS No
Complaints CAPITAL Yen
100 M
TREND SLOW WORTH Yen
4,086 M
STARTED 2001 EMPLOYES 160
MFR OF CAPSULES FOR PHARMACEUTICAL & HEALTH FOODS
INDUSTRIES, WHOLLY OWNED BY CAPSUGEL JAPAN HOLDINGS INC.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established as Japan Warner Lambert KK at the caption address for mfg capsules and capsule filling machines for the pharmaceutical industries. After merger with a sister company and reorganization, the firm was renamed as captioned and joined Pfizer Inc group. In Apr 2011, the firm was transferred to Capsugel Japan Holdings Inc from Pfizer Inc group, and the firm became a wholly owned subsidiary of the new holding company.
In Oct 2012 merged Capsgel Japan Holdings. Reduced capitals to Yen 100 million from the previous 310 million, executed in Mar 2012
Financials are only partially disclosed and in rounded-off
numbers. The firm says financials are
consolidated by the parent, Capsugel Japan Holdings Inc.
The sales volume for Nov/2012 fiscal term said amounted to
Yen 7,100 million, a 3% up from Yen 6,900 million in the previous term. Capsule filling machines sold well, the firm
says. The net profit is believed posted
at Yen 545 million, compared with Yen 540 million a year ago. The profits were estimated figures only as
not precisely disclosed.
For the current term ending Nov 2013 the net profit is
projected at Yen 550 million, on a 1.4% rise in turnover, to Yen 7,200
million. The firm does not disclose
sales targets, etc and this is again only estimated by us, based on the
conversation with the treasurer.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Date Registered: Dec 2001
Regd No.: (Kanagawa-Chuoku) 046108
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2,000 shares
Issued: 2,000 shares
Sum: Yen 100 million
Major shareholders (%):
Capsugel Japan Holdings Inc*(100)
*.. Holding company at the
caption address
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
capsules, including hard gelatin, soft-gel, non-animal & fish gelatin
capsules, capsule filling machines, liquid filling and sealing equipment,
clinical trial & manual filling
machines, replacement parts, others (--100%).
Clients: Pharmaceutical
mfrs, dietary supplement industry, wholesalers, drug stores] Takeda
Pharmaceutical Co, Fancl Co, DHC, Astellas Pharmaceutical, Pfizer, Yazuya,
other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Nitta Gelatin, Hayashibara Shoji, other. Also supplied from L D Davis Ind Inc, USA,
other.
Payment record:
No Complaints
Location:
Business area in Sagamihara City, Kanagawa-Pref. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References:
Mizuho
Bank (Hashimoto)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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30/11/2013 |
30/11/2012 |
30/11/2011 |
30/11/2010 |
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Annual
Sales |
|
7,200 |
7,100 |
6,900 |
6,700 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
550 |
545 |
540 |
530 |
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Total
Assets |
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N/A |
N/A |
9,070 |
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Net
Worth |
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|
4,086 |
3,905 |
3,527 |
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Capital,
Paid-Up |
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|
100 |
310 |
310 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.41 |
2.90 |
2.99 |
3.08 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
38.89 |
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N.Profit/Sales |
7.64 |
7.68 |
7.83 |
7.91 |
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Note: Financials are only partially disclosed. Sales/profits were not precisely disclosed and
the figures are estimated.
Forecast
(or estimated) figures for the 30/11/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.59.73 |
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UK Pound |
1 |
Rs.91.82 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.