|
Report Date : |
04.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
RIGAKU CORPORATION |
|
|
|
|
Registered Office : |
3-9-12 Matsubaracho Akishima Tokyo-Metrop 196-8666 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
December 1951 |
|
|
|
|
Com. Reg. No.: |
0128-01-002680
(Tokyo-Akishima) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Mfg of X-ray systems,
analytical instruments, other |
|
|
|
|
No. of Employees : |
1,316 |
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 |
|
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 |
RIGAKU CORPORATION
REGD NAME: KK
Rigaku
MAIN OFFICE: 3-9-12
Matsubaracho Akishima Tokyo-Metrop 196-8666 JAPAN
Tel:
042-545-8111 Fax: 042-544-9795
URL: http//:www.rigaku.co.jp
E-mail: (thru the URL)
Mfg of
X-ray systems, analytical instruments, other
Osaka,
Nagoya, Sendai, Yamanashi, other.
USA
(4), Europe (3), China (3) (--subsidiaries)
At the
caption address, Osaka, Yamanashi
USA
(4), UK, Czech, Germany, China
HIKARU
SHIMURA, PRES Shojiro Asai, v pres
Hiroshi
Akiyama, dir Tohru
Matsumoto, dir
Yoshiaki
Watanabe, dir Eiji Yamada,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 31,161 M
PAYMENTSREGULAR CAPITAL Yen
400 M
TREND UP WORTH Yen 25,418 M
STARTED 1951 EMPLOYES 1,316
MFR OF
X-RAY SYSTEMS, OTHER SCIENTIFIC INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject
company was established originally in 1923 by a certain Shimura and has been
succeeded by the present executives.
This is a leading mfr of analytical X-ray systems for elemental
analysis, materials, research and structural investigations, commanding 70%
market share in this field. Mfg products
include: automation & robotics, evolved gas analysis, software, thermal
analysis, vacuum feed through, other.
Has overseas subsidiaries in USA (4), Europe (3) and China (3), and
domestically 5 subsidiaries. .
The sales
volume for Mar/2012 fiscal term amounted to Yen 31,161 million, a 2% up from
Yen 30,508 million in the previous term.
Sales increased into China, India, other S/E Asian countries. Sales into Europe were weak. In Japan, supply chains damaged by the
Earthquake came back to normal earlier than anticipated. The recurring profit was posted at Yen 2,735
million and the net profit at Yen 1,313 million, respectively, compared with
Yen 2,786 million recurring profit and Yen 1,371 million net profit,
respectively, a year ago.
For
the term that ended Mar 2013 the recurring profit was projected at Yen 2,800
million and the net profit at Yen 1,350 million, respectively, on a 3% rise in
turnover, to Yen 32,000 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.
Date Registered: Dec
1951
Regd No.: 0128-01-002680 (Tokyo-Akishima)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 3.2
million shares
Issued: 1,157,095
shares
Sum: Yen 400 million
Major shareholders (%):
Akira Shimura (42.0), KK Asuka (12.6), Takane Shimura (6.6), Maruaru Kai (3.9),
other
No. of shareholders: 157
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures analytical X-ray
systems: X-ray diffraction (XRD), X-ray fluorescence, single crystal X-ray diffraction,
small angle X-ray scattering, other (--94%); analytical/research instruments:
automation robotics, vacuum feed through components, other (6%).
Overseas Sales Ratio (41%)
Clients: [Mfrs, wholesalers] Rigaku, Rigaku
MSC, Rigaku Electric Ind, other
No. of
accounts: 800
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Rigaku Yamanashi,
Materials Data, Toshiba Medical Supply Co, Nap Ltd, Origin Electric Co, San-Eon
Giken Co, ORIX Rentec Corp, Rigaku Mechatronics Corp, other
Payment record:
Regular
Location:
Business area in Akishima City, Tokyo-Metrop.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
Mizuho Bank (Marunouchi)
MUFG
(Shinjuku-Fukutoshin)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
32,000 |
31,161 |
30,508 |
26,580 |
|
Recur.
Profit |
|
2,800 |
2,735 |
2,786 |
1,180 |
|
Net
Profit |
|
1,350 |
1,313 |
1,371 |
368 |
|
Total
Assets |
|
|
38,437 |
38,439 |
35,776 |
|
Current
Assets |
|
|
30,295 |
29,310 |
27,718 |
|
Current
Liabs |
|
|
11,200 |
|
10,039 |
|
Net
Worth |
|
|
25,418 |
24,531 |
23,403 |
|
Capital,
Paid-Up |
|
|
400 |
400 |
400 |
|
Div.P.Share(¥) |
|
|
60.00 |
50.00 |
50.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.69 |
2.14 |
14.78 |
-12.64 |
|
|
Current Ratio |
|
.. |
270.49 |
#DIV/0! |
276.10 |
|
N.Worth Ratio |
.. |
66.13 |
63.82 |
65.42 |
|
|
R.Profit/Sales |
|
8.75 |
8.78 |
9.13 |
4.44 |
|
N.Profit/Sales |
4.22 |
4.21 |
4.49 |
1.38 |
|
|
Return On Equity |
.. |
5.17 |
5.59 |
1.57 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.83.80 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.