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Report Date : |
16.05.2013 |
IDENTIFICATION DETAILS
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Name : |
Kyoritsu Seiyaku Corporation |
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Registered Office : |
Mori Kaitan 2F, 1-11-5 Kudan-Kita Chiyodaku Tokyo 102-0073 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
May, 1955 |
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Com. Reg. No.: |
0100-01-014420 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale and Manufacture of Veterinary Medicines, Pet
Foods |
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|
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No. of Employees : |
427 |
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 |
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Payment Behaviour : |
Regular |
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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 |
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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
KYORITSU SEIYAKU CORPORATION
REGD NAME: Kyoritsu
Seiyaku KK (Seiyaku means Pharmaceuticals)
MAIN OFFICE: Mori
Kaikan 2F, 1-11-5 Kudan-Kita Chiyodaku Tokyo 102-0073 JAPAN
Tel:
03-3263-2931 Fax: 03-3230-2308
*..
Registered at: 1-5-10 Kudan-Minami Chiyodaku Tokyo
URL: http://www.kyoritsuseiyaku.co.jp/
E-Mail address: kyoritsu@kyoritsuseiyaku.co.jp
Import, export,
wholesale, mfg of veterinary medicines, pet foods
Sapporo, Sendai,
Saitama, Osaka, Nagoya, Okayama, Fukuoka, Kagoshima
Daiba
(distribution center); Tsukuba (R&D center), Hiroshima
TAKAAKI TAKAI,
PRES Yuhei Okamoto, ch
Seiichi Hirano, v
pres Kazuhiro Fujita, mgn
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 32,754 M
PAYMENTSREGULAR CAPITAL Yen
55 M
TREND STEADY WORTH Yen 20,230 M
STARTED 1955 EMPLOYES 427
TRADING HOUSE SPECIALIZING IN VETERINARY MEDICINES & PET FOODS.
FINANCIAL SITUATION CONSIDERED FAIR TO GOOD AND RESPONSIBLE FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject
company is a leading trading house specializing in animal medicines,
established by late Yuriko Takei’s husband.
This is a specialized trader, with mfg division, for import and
wholesale of veterinary drugs, all for prescription by veterinary surgeons,
such as vaccine, vitamins, etc. Also
handles pulicide, antibacterial agents, anthelmintic agents, pet foods,
supplement foods, all for animals.
Animal feeds are also handled.
Nation’s top-ranked wholesaler of animal drugs. Vaccines are produced by a subsidiary maker,
starting in 1969. Have wide business
tie-ups with about 20 overseas mfrs, such as Fort Dodge Animal Health, Master
Foods (--USA), Inter-bet International, Abbot Laboratories, Animal Health
Options, Addison Biological Laboratory, other.
In May 2009, launched production of flea/hard tick exterminator, the
nation’s first of such agents, and distributed in the market. In Jun 2010, merged a subsidiary, Kawasaki
Seiyaku KK, producer of pharmaceuticals for agricultural & aquatic animals,
Kawasaki. Went into business tie-up with
Idemitsu Kosan in the area of livestock.
Domestic clients include pharmaceuticals mfrs, wholesalers, other.
The sales volume
for May/2012 fiscal term amounted to Yen 32,754 million, an 8% up from Yen 30,297
million in the previous term. Demand for
animal drugs & foods rapidly grew amid pet booms nationwide, particularly
by ballooning retired elderly population.
The recurring profit was posted at Yen 3,397 million and the net profit
at Yen 2,201 million, respectively, compared with Yen 2,893 million recurring
profit and Yen 1,763 million net profit, respectively, a year ago.
For the current
term ending May 2013 the recurring profit is projected at Yen 3,700 million and
the net profit at Yen 2,500 million, respectively, on a 14% rise in turnover,
to Yen 37,200 million. Business
continues steady and upswing. The said
business tie-ups with Idemitsu Kosan Kaisha will contribute.
The financial
situation is considered FAIR to GOOD and responsible for ORDINARY business
engagements.
Date Registered: May 1955
Regd No.:
0100-01-014420 (Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 280,000 shares
Issued: 110,000 shares
Sum: Yen 55 million
Major shareholders (%): Yuriko Takai
(52.6), Takaaki Takai (25.4), Yuhei Okamoto (14.1)
No. of shareholders: 14
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales veterinary
prescription animal drugs: vaccine, vitamin,
antibacterial agents, anthelmintic agents, animal feeds, pet foods,
supplement, other (--100%).
(Handling
items):
Companion Animal Products: canine vaccine,
feline vaccine, interferon, antimicrobial,
parasiticide, cardiovascular drug, hormone, anesthetic, diagnostic
kit/medium, Chinese herbal medicine, medical device, care took, supplement for
animals, others;
Production Animal Products: vaccine, vitamin,
metabolic drug, antimicrobial, parasiticide, disinfectant, electrolyte, feed
additives, equine products, diagnostic kit/medium, poultry vaccines, fish
vaccines, special equipment;
Pet Care Products:
milk
replacer, nutritional supplement, others;
Veterinary
diet/Pet Foods: dry/wet, powder type, supplement, pet foods (vets plan).
Clients: [Pharmaceutical firms,
traders] Aesop Yakuhin, Morikubo Yakuhin, Asuko, Atol Co, Sun Daiko, Maruzen Yakuhin, Yuwa Yakuhin, Everlth
Agrotech, other.
No. of
accounts: 700
Domestic areas
of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Master
Foods, Toray Ind, Kyowa Hakko Kogyo, Idemitsu Kosan Co, Suntory Ltd, Toray Ind, Canine Japan,
other.
Imports from: Fort
Dodge Animal Health, Master Foods, Pet Ag, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained
satisfactorily.
Bank References:
Mizuho Bank
(Kudan)
MUFG
(Shin-Marunouchi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/05/2013 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
|
|
Annual
Sales |
|
37,200 |
32,754 |
30,297 |
22,440 |
|
Recur.
Profit |
|
3,700 |
3,397 |
2,893 |
2,366 |
|
Net
Profit |
|
2,500 |
2,201 |
1,763 |
1,240 |
|
Total
Assets |
|
|
27,975 |
26,701 |
21,594 |
|
Current
Assets |
|
|
17,495 |
16,390 |
|
|
Current
Liabs |
|
|
5,709 |
6,441 |
|
|
Net
Worth |
|
|
20,230 |
18,181 |
15,246 |
|
Capital,
Paid-Up |
|
|
55 |
55 |
55 |
|
Div.P.Share(¥) |
|
|
1,000.00 |
1,000.00 |
1,000.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
13.57 |
8.11 |
35.01 |
10.71 |
|
|
Current Ratio |
|
.. |
306.45 |
254.46 |
.. |
|
N.Worth Ratio |
.. |
72.31 |
68.09 |
70.60 |
|
|
R.Profit/Sales |
|
9.95 |
10.37 |
9.55 |
10.54 |
|
N.Profit/Sales |
6.72 |
6.72 |
5.82 |
5.53 |
|
|
Return On Equity |
.. |
10.88 |
9.70 |
8.13 |
|
Notes: Forecast (or
estimated) figures for the 31/05/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.78 |
|
|
1 |
Rs.83.38 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
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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 |
|
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 |
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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 |
|
<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.