|
Report Date : |
20.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
GE HEALTHCARE
JAPAN CORPORATION |
|
|
|
|
Registered Office : |
4-7-127
Asahigaoka Hino City Tokyo-Metrop 191-0065 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
October 1983 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Manufacturer of diagnostic imaging medical apparatus |
|
|
|
|
No. of Employees : |
2,114 |
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 |
|
Maximum Credit Limits : |
YEN 3,959.9 Million |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 econom
Source
: CIA
GE HEALTHCARE JAPAN CORPORATION
REGD NAME: GE
Healthcare Japan KK
MAIN OFFICE: 4-7-127
Asahigaoka Hino City Tokyo-Metrop 191-0065 JAPAN
Tel:
042-585-5111 Fax: 042-585-5360
URL: http://www.gehealthcare.co.jp/
E-Mail address: (thru
the URL)
Mfg of diagnostic
imaging medical apparatus
Sapporo, Sendai,
Saitama, Kobe, other (Tot 53)
At the caption
address
JUN KAWAKAMI, PRES Akihiko Kumagai, ch
Misa Yamashita,
dir Atsuko Watanabe, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen
141,122 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 6,016 M
TREND UP WORTH Yen 31,005 M
STARTED 1983 EMPLOYES 2,114
MFR SPECIALIZING IN MEDICAL APPARATUS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN
3,959.9 MILLION, NORMAL TERMS
The subject company was established as a JV between GE (General
Electric) and Yokogawa Electric Corp, as Yokogawa Medical Systems Inc to
operate as a Japanese branch of GE Medical Systems. It was renamed as GE Yokogawa Medical Systems
Ltd in 1994. In 2009, the firm merged
with GE Healthcare Bioscience Corporation, and renamed as captioned. The subject specializes in mfg diagnostic
medical imaging systems, related equipment, apparatus, parts &
components. Goods are also
imported. Clients are hospitals (public
& private), universities, medical institutes, other. Also marketed through 53 agent dealers
nationwide.
The sales volume for Dec/2012 fiscal term amounted to Yen 141,122 million,
a 2% up from Yen 138,044 million in the previous term. The recurring profit was posted at Yen 17,685
million and the net profit at Yen 9,804 million, respectively, compared with
Yen 18,326 million recurring profit and Yen 12,104 million net profit, respectively,
a year ago.
For the current term ending Dec 2013 the recurring profit is projected
at Yen 18,000 million and the net profit at Yen 10,000 million, respectively,
on a 5% rise in turnover, to Yen 148,000 million. The business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 3,959.9 million, on normal terms.
Date Registered: Oct 1983
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 12,032,960,000 shares
Issued: 12,032,960,000 shares
Sum: Yen 6,016.48 million
Major
shareholders (%): GE International Japan Investment BV (60), Yokogawa Electric Corp*
(25), General Electric Co (15)
No.
of shareholders: 3
*..Mfr of industrial instruments, Tokyo,
founded 1920, listed Tokyo S/E, capital Yen 43,401 million, sales Yen 347,899
million, operating profit Yen 18,409 million, recurring profit Yen 18,002
million, net profit Yen 14,688 million, total assets Yen 381,465 million, net
worth Yen 172,470 million, employees 19,821, pres Takashi Nishijima
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
diagnostic medical imaging systems (computerized), their equipment, parts,
components and related apparatus (--100%).
Clients: Public &
Private Hospitals, Universities, Medical Institutes, Medical Equipment dealers,
agent dealership
No. of accounts:
1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs] Yokogawa
Electric, General Electric, Yokogawa Toa Kogyo, GE Healthcare, other.
Payment record: No complaints
Location: Business area in
Hino City, Tokyo-Metrop. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References: Mizuho Bank
(Mitaka)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual
Sales |
|
148,000 |
141,122 |
138,044 |
136,316 |
|
Recur.
Profit |
|
18,000 |
17,685 |
18,326 |
16,837 |
|
Net
Profit |
|
10,000 |
9,804 |
12,104 |
6,371 |
|
Total
Assets |
|
|
67,596 |
75,250 |
73,924 |
|
Current
Assets |
|
|
50,827 |
57,590 |
54,087 |
|
Current
Liabs |
|
|
27,046 |
25,399 |
24,952 |
|
Net
Worth |
|
|
31,005 |
41,216 |
40,144 |
|
Capital,
Paid-Up |
|
|
6,016 |
6,016 |
6,016 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.87 |
2.23 |
1.27 |
14.51 |
|
|
Current Ratio |
|
.. |
187.93 |
226.74 |
216.76 |
|
N.Worth Ratio |
.. |
45.87 |
54.77 |
54.30 |
|
|
R.Profit/Sales |
|
12.16 |
12.53 |
13.28 |
12.35 |
|
N.Profit/Sales |
6.76 |
6.95 |
8.77 |
4.67 |
|
|
Return On Equity |
.. |
31.62 |
29.37 |
15.87 |
|
Notes: Forecast
(or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.23 |
|
|
1 |
Rs.100.18 |
|
Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.