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Report Date : |
19.04.2014 |
IDENTIFICATION DETAILS
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Name : |
WAKO PURE CHEMICAL INDUSTRIES LTD |
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Registered Office : |
3-1-2 Doshomachi Chuoku Osaka 540-8605 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
June, 1922 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of laboratory chemicals, specialty chemicals, chemical
diagnostics, reagents |
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No. of Employees : |
1,490 |
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 |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Prime Minister Shinzo ABE has declared the economy his government's top priority; he has overturned his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans Pacific Partnership negotiations in 2013, a pact that would open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. 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 is exceeding 230% of GDP. To help raise government revenue and reduce public debt, Japan decided in 2013 to gradually increase the consumption tax to a total of 10% by the year 2015. Japan is making progress on ending deflation due to a weaker yen and higher energy costs, but reliance on exports to drive growth and an aging, shrinking population pose other major long-term challenges for the economy.
|
Source
: CIA |
WAKO PURE CHEMICAL
INDUSTRIES LTD
REGD NAME: Wako Junyaku Kogyo KK
MAIN OFFICE: 3-1-2 Doshomachi Chuoku Osaka 540-8605 JAPAN
Tel:
06-6203-3741
Fax: 06-6203-2029
URL: http://www.wako-chem.co.jp
E-Mail address: (thru the URL)
Mfg of laboratory chemicals, specialty chemicals, chemical diagnostics,
reagents
Tokyo, Sapporo, Sendai, Shizuoka, Fujisawa, Fukuoka, other (Tot10)
Germany, USA (3), China (2)
Tokyo, Aichi, Mie, Osaka, Harima, Oita
SHINZO KOBATAKE, PRES Takumi
Tanaka, s/mgn dir
Toshiro Hanada, s/mgn dir Tatsuya
Kobayashi, mgn dir
Nobuyuki Tokioka, dir Kazuo
Shirki, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 71,754 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
2,339 M
TREND UP WORTH Yen 109,554 M
STARTED 1922 EMPLOYES 1,490
MFR OF CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established on the basis of a division separated
from the then Takeda Chobei Shoten (now Takeda Pharmaceutical Co Ltd) (See REGISTRATION), as Takeda Pure Chemicals
Ltd. Renamed in 1949 as captioned. This is a special mfr of laboratory
chemicals, specialty chemicals, chemical diagnostics, reagents, other. Clients include universities, hospitals,
medical institutions, other, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 71,754
million, an almost similar amount of Yen 72,064 million in the previous
term. The recurring profit was posted at
Yen 7,195 million and the net profit at Yen 4,660 million, respectively,
compared with Yen 7,889 million recurring profit and Yen 4,597 million net
profit, respectively, a year ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 7,300 million and the net profit at Yen 4,700 million, respectively, on a
3% rise in turnover, to Yen 74,000 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun 1922
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
133.36 million shares
Issued:
33.34 million shares
Sum: Yen 3,339 million
Major shareholders
(%): Takeda Pharmaceutical Co Ltd* (69.4), Fujifilm Holdings Corp (9.5)
No. of
shareholders: 604
*.. Top-ranked pharmaceutical mfr, Osaka, founded Tokyo S/E, capital Yen
63,562 million, sales Yen 1,557,267 million, operating profit Yen 122,505
million, recurring profit Yen 113,168 million, net profit Yen 131,244 million,
total assets Yen 4,253,216 million, net worth Yen 2,281,167 million, employees
31,507, pres Yasuchika Hasegawa
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
reagents (17%), chemicals (laboratory chemicals, specialty chemicals) (22%),
clinical diagnostics (31%)
Clients: [Mfrs,
wholesalers] Takeda Pharmaceutical Co, Fujifilm Holdings, other to
universities, laboratories, synthetic resin mfrs, chemical firms, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Wacoal Chemical, A&T, Miyako Kohsan Co, Chisso Corp, Dojindo
Laboratories, other
Payment record: No complaints
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMGC
(Osaka)
MUFG
(Osaka)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
74,000 |
71,754 |
72,064 |
71,790 |
|
Recur. Profit |
|
7,300 |
7,195 |
7,889 |
8,322 |
|
Net Profit |
|
4,700 |
4,660 |
4,597 |
5,107 |
|
Total Assets |
|
|
140,641 |
136,721 |
136,351 |
|
Current Assets |
|
|
107,143 |
105,200 |
|
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Current Liabs |
|
|
22,253 |
20,473 |
|
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Net Worth |
|
|
109,554 |
107,529 |
105,626 |
|
Capital, Paid-Up |
|
|
2,339 |
2,339 |
2,339 |
|
Div.P.Share(¥) |
|
|
81.50 |
80.00 |
78.50 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.13 |
-0.43 |
0.38 |
-3.48 |
|
|
Current Ratio |
.. |
481.48 |
513.85 |
.. |
|
|
N.Worth Ratio |
.. |
77.90 |
78.65 |
77.47 |
|
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R.Profit/Sales |
9.86 |
10.03 |
10.95 |
11.59 |
|
|
N.Profit/Sales |
6.35 |
6.49 |
6.38 |
7.11 |
|
|
Return On Equity |
.. |
4.25 |
4.28 |
4.83 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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|
Report Prepared
by : |
NNA |
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 |
|
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.