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Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
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Name : |
SRL MEDISEARCH INC |
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Registered Office : |
Shinjuku Island Tower 10F, 6-5-1 Nishishinjuku Shinjukuku Tokyo 160-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
14.01.1997 |
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Com. Reg. No.: |
0111-01-034709 (Tokyo-Shinjuku) |
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Legal Form : |
Limited Company |
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Line of Business : |
subject company supports pharmaceutical research & development by providing clinical trial services and CRO services, as a bridge between pharmaceutical companies and medical institutions. Subject provides a range of professional services by their
high level of technical skill |
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No. of Employees |
174 |
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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Maximum Credit Limit : |
Yen 251.6 Million |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 2013 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 225% 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 |
SRL MEDISEARCH INC
KK SRL Medisearch
Shinjuku Island
Tower 10F, 6-5-1 Nishishinjuku Shinjukuku Tokyo 160-0023, JAPAN
Tel:
03-5324-2601 Fax: 03-5324-3507
URL: http://www.srlmedi.com
E-Mail address: (thru the URL)
Clinical
trial/search & development
Osaka,
Hachioji (Tokyo)
HIROYUKI
SEKIGUCHI, PRES Masaru
Kobayashi, dir
Yutaka
Kitamura, dir Maahiro
Ikeoka, dir
Yukihiro
Ito, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 6,229 M
PAYMENTS No
Complaints CAPITAL Yen
150 M
TREND SLOW WORTH Yen
1,608 M
STARTED 1997 EMPLOYES 174
CLINICAL TRIAL & DEVELOPMENT SUPPORT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 251.6 MILLION, 30 DAYS NORMAL TERMS
The subject company supports pharmaceutical research & development by providing clinical trial services and CRO services, as a bridge between pharmaceutical companies and medical institutions. It provides a range of professional services by their high level of technical skill, as the firm says. Clients include pharmaceutical mfrs, drug stores, other
The sales volume for Mar/2013 fiscal term amounted to Yen
6,229 million, a 4% down from Yen 6,484 million in the previous term. The net profit was posted at Yen 683 million,
compared with Yen 571 million a year ago.
For the current term ending Mar 2014 the net profit is projected at Yen 700 million, on a 4% rise in turnover, to Yen 6,500 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 251.6 million, on 30 days normal terms.
Date Registered: 14 Jan 1997
Regd No.: 0111-01-034709 (Tokyo-Shinjuku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
12,000 shares
Issued:
3,000 shares
Sum: Yen 150 million
Major shareholders (%): SRL Co* (100)
*.. Holding company
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Provides clinical trial & clinical development related services, other (---100%)
Clients: Pharmaceutical mfrs, pharmaceuticals, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Shinjuku)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual
Sales |
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6,500 |
6,229 |
6,484 |
5,781 |
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Recur.
Profit |
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Net
Profit |
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700 |
683 |
571 |
476 |
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Total
Assets |
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2,423 |
2,552 |
2,249 |
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Current
Assets |
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2,124 |
2,235 |
1,874 |
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Current
Liabs |
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|
810 |
1,050 |
837 |
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Net
Worth |
|
|
1,608 |
1,497 |
1,402 |
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Capital,
Paid-Up |
|
|
150 |
150 |
150 |
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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 |
4.35 |
-3.93 |
12.16 |
-1.06 |
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Current Ratio |
.. |
262.22 |
212.86 |
223.89 |
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N.Worth Ratio |
.. |
66.36 |
58.66 |
62.34 |
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R.Profit/Sales |
.. |
.. |
.. |
.. |
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N.Profit/Sales |
10.77 |
10.96 |
8.81 |
8.23 |
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Return On Equity |
.. |
42.48 |
38.14 |
33.95 |
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Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
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UK Pound |
1 |
Rs.100.04 |
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Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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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 |
-- |
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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.