MIRA INFORM REPORT

 

 

Report Date :

04.08.2014

 

IDENTIFICATION DETAILS

 

Name :

PRISM PHARMA CO LTD

 

 

Registered Office :

Tokodai Yokohama Venture Plaza, 4259-3 Nagatsudacho Midoriku Yokohama

226-0026

 

 

Country :

Japan

 

 

Financials (as on) :

30.09.2013

 

 

Date of Incorporation :

November 2006

 

 

Com. Reg. No.:

0200-01-052509

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of bio-pharmaceuticals, other

 

 

No of Employees :

12

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 24.0 million

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate 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

 

 

COMPANY NAME:

 

PRISM PHARMA CO LTD

 

REGD NAME:

 

Prism Pharma KK

 

 

MAIN OFFICE:    

 

Tokodai Yokohama Venture Plaza, 4259-3 Nagatsudacho Midoriku Yokohama

      226-0026 JAPAN

Tel: 045-989-2290      Fax: 045-989-2291

 

URL:                 prismbiolab.sakura.co.jp

E-Mail address: (thru the URL)

 

 

ACTIVITIES: 

 

Mfg of bio-pharmaceuticals, other

 

 

BRANCHES:  

 

Nil

 

 

FACTORIES: 

 

At the caption address

 

 

OFFICERS:    

 

HIROYUKI KOJI, PRES              Hiroshi Takehara, dir

Yasuhisa Yamaguchi, dir            Shingo Nakamura, dir

Koichi Ashida, dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY:   

 

FINANCES        R/WEAK           A/SALES          Yen 125 M

PAYMENTSSLOW                    CAPITAL           Yen 90 M

TREND SLOW              WORTH            Yen 1,450 M     

STARTED         2006                 EMPLOYES      12

 

 

COMMENT:   

 

MFR OF BIO-PHARMACEUTICALS.

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: ESTIMATED AT YEN 24.0 MILLION, ON 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS:

           

The subject company was established by Hiroyuki Koji as Prism BioLab Co Ltd, and renamed in Apr 2014 as captioned.  This is a special mfr of bio-pharmaceuticals, other.  Tied with Eisai Co Ltd, mfr of pharmaceuticals, Tokyo. 

 

 

FINANCIAL INFORMATION:

           

Financials are disclosed only partially.

 

The sales volume for Sept/2013 fiscal term amounted to Yen 125 million, a 58% down from Yen 300 million in the previous term.  The operations continued in the red to post Yen 559 million net losses for the term, compared with Yen 227 million net losses a year ago.  High mfg & materials costs continued to eat into the profits and loss amount widened.

 

For the current term ending Sept 2014 the operations are projected to come back to profitability but still limited to a minimum amount post-taxes, on a 12% rise in turnover, to Yen 140 million.

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 24.0 million, on 30 days normal terms.

 

 

REGISTRATION:

 

Date Registered:                                  Nov 2006

Regd No.:                                             0200-01-052509 (Yokohama-Midoriku)

Legal Status:                           Limited Company (Kabushiki Kaisha)

Authorized:                              7,200 shares

Issued:                                     1,800 shares

Sum:                                        Yen 90 million

      Major shareholders (%):                 DBJ Capital, DBJ Capital 2, Tokyo Small & Medium Business Promotion & Investment Assn, other (breakdown not available)

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION:

           

Activities: Manufactures bio-pharmaceuticals, intermediates, other (--100%)

 

Clients: [Mfrs, wholesalers] Eisai Co Ltd 

No. of accounts: 1

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Takacho Co, Namiki Shoji Co, other

 

Payment record: Slow

 

Location: Business area in Yokohama.  Office premises at the caption address are leased and maintained satisfactory.

 

Bank References:

                        Mizuho Bank (Mishima)

                        SMBC (H/O)

                        Relations: ^Satisfactory

 

 

FINANCES (In Million Yen)

 

Terms Ending:

　

30/09/2014

30/09/2013

30/09/2012

30/09/2011

Annual Sales

　

140

125

300

410

Recur. Profit

　

..

..

..

..

Net Profit

　

0

-559

-227

-20

Total Assets

　

　

1,488

526

N/A

Net Worth

　

　

1,450

567

　

Capital, Paid-Up

　

　

90

90

90

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

　

(%)

(%)

(%)

(%)

    S.Growth Rate

　

12.00

-58.33

-26.83

4,000.00

    Current Ratio

　

　

..

..

..

    N.Worth Ratio

　

　

97.45

107.79

..

    N.Profit/Sales

　

0.00

-447.20

-75.67

-4.88

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 30/09/2014 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 60.85

UK Pound

1

Rs. 102.68

Euro

1

Rs. 81.46

 

 

INFORMATION DETAILS

 

Analysis Done by :

KRN

 

 

Report Prepared by :

DPT

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.