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Report Date : |
24.04.2014 |
IDENTIFICATION DETAILS
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Name : |
SUN MEDICAL
TECHNOLOGY RESEARCH CORP |
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Registered Office : |
2990 Shiga Suwa City Nagano-Pref 392-0012 |
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Country : |
Japan |
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Date of Incorporation : |
April 2013 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of Auxiliary Artificial Heart. |
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No of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Slow |
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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 |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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 |
SUN MEDICAL TECHNOLOGY RESEARCH CORP
KK Sun Medical
Gijutsu Kenkyujo
2990 Shiga Suwa City
Nagano-Pref 392-0012 JAPAN
Tel: 0266-54-1900 Fax: 0266-58-6443
URL: http://www.everheart.co.jp
E-Mail address: (thru the URL)
Mfg of
auxiliary artificial heart
Tokyo
USA
At the
caption address
MAKOTO
TERAURA, PEWA
Shunichi
Yamauchi, ch
Yasuo
Seki, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIRA/SALES Yen 910 M
PAYMENTSSlow CAPITAL Yen 90 M
TREND UNDETD WORTH Yen (-) 40 M
STARTED 2013 EMPLOYES 50
MFR OF AUXILIARY ARTIFICIAL HEART.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1991 for making auxiliary
artificial heart, and in 2013 received the financial aid from Hi-Lex
Corporation (See and from then restarted making the artificial heart. This is a specialized mfr of auxiliary
artificial heart. Clients include
universities, laboratories, other.
Financials are disclosed only partially, and reported Yen 910 million
for Oct/2013 fiscal term.
For the current term ending Oct 2014 the net profit is projected at Yen
100 million, on a 20% rise in turnover, to Yen 18,200 million, as the firm
says.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr 2013
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
7,200 shares
Issued:
1.800 shares
Sum: Yen 90 million
Major shareholders (%): Hi-Lex Corp* (90)
No. of shareholders: 3
*.. Largest mfr of control-cables for motor vehicles, Hyogo-Pref,
founded 1946, listed Tokyo S/E (Second section), capital Yen 5,657 million,
sales Yen 164,936 million, operating profit Yen 13,877 million, recurring
profit Yen 17,089 million, net profit Yen 10,623 million, total assets Yen
167,825 million, net worth Yen 115,253 million, employees 10,054, pres Makoto
Teraura
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
auxiliary artificial heart & supplies (--100%)
Clients: [Mfrs,
wholesalers] Tokyo University, Ryukyu University, Sanyu Medical, Mutoh Corp,
other
No. of accounts: 350
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Hi-Lex Corporation, other
Payment record: Slow
Location: Business area in
Suwa City, Nagano-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank
References:
SMBC (Suwa)
Hachijuni Bank (Suwa)
Relations: Satisfactory
(In Million Yen)
Not yet made available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.07 |
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UK Pound |
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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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-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.