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Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
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Name : |
RIGAKU CORPORATION |
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Registered Office : |
3-9-12
Matsubaracho Akishima Tokyo-Metrop 196-8666 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
December 1951 |
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Com. Reg. No.: |
0128-01-002680
(Tokyo-Akishima) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of analytical X-ray systems such as X-ray diffraction (XRD),
X-ray fluorescence, single crystal X-ray diffraction, small angle X-ray
scattering, analytical/research instruments : automation robotics, vacuum
feed through components |
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No. of Employees : |
1,153 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 |
RIGAKU CORPORATION
KK Rigaku
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
AKIRA
SHIMURA, PRES Shojiro Asai, v
pres
Yoshiaki
Watanabe, dir Yoichi
Yokomizo, dir
Keiji
Suzuki, dir Isao
Matsumoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 31,338 M
PAYMENTSNo Complaints CAPITAL Yen 100 M
TREND UP WORTH Yen 26,538 M
STARTED 1951 EMPLOYES 1,153
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 about 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/2013 fiscal term amounted to Yen 31,338
million, a 0.6% up from Yen 31,161 million in the previous term. The recurring profit was posted at Yen 2,693
million and the net profit at Yen 1,601 million, respectively, compared with
Yen 2,735 million recurring profit and Yen 1,313 million net profit,
respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at
Yen 2,700 million and the net profit at Yen 1,650 million, respectively, on a
5% rise in turnover, to Yen 33,000 million.
Business is seen expanding steadily.
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: 4
million shares
Issued: 1.01 million shares
Sum: Yen 100 million
Major shareholders (%): Founder’s family S/Holding
Assn (34), KK Asuka (29), Akira Shimura (22), Takane Shimura (9), Employees’
S/Holding Assn (6), other
No. of shareholders: 5
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 (40%)
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: No
Complaints
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 (Mitaka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
33,000 |
31,338 |
31,161 |
30,508 |
|
Recur.
Profit |
|
2,700 |
2,693 |
2,735 |
2,786 |
|
Net
Profit |
|
1,650 |
1,601 |
1,313 |
1,371 |
|
Total
Assets |
|
|
37,233 |
38,437 |
38,439 |
|
Current
Assets |
|
|
|
30,295 |
29,310 |
|
Current
Liabs |
|
|
|
11,101 |
11,200 |
|
Net
Worth |
|
|
26,538 |
25,418 |
24,531 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
60.00 |
60.00 |
50.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.30 |
0.57 |
2.14 |
14.78 |
|
|
Current Ratio |
|
.. |
.. |
272.90 |
261.70 |
|
N.Worth Ratio |
.. |
71.28 |
66.13 |
63.82 |
|
|
R.Profit/Sales |
|
8.18 |
8.59 |
8.78 |
9.13 |
|
N.Profit/Sales |
5.00 |
5.11 |
4.21 |
4.49 |
|
|
Return On Equity |
.. |
6.03 |
5.17 |
5.59 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
UK Pound |
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.83.87 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
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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 |
|
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 |
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<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.