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Report Date : |
03.02.2014 |
IDENTIFICATION DETAILS
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Name : |
MERCK LTD JAPAN |
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|
Registered Office : |
Arco Tower 5F, 1-8-1 Shimomeguro Meguroku
Tokyo 153-8927 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
Feb 1968 |
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Reg. No.: |
0132-01-005901 (Tokyo-Meguroku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of liquid crystals,
pigments, reagents, pharmaceuticals |
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|
|
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No. of Employees : |
655 |
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 |
|
Maximum Credit Limit: |
Yen 2,206.0 million |
|
Status : |
Satisfactory |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
MERCK
LTD JAPAN
Merck KK
Arco Tower 5F, 1-8-1 Shimomeguro Meguroku
Tokyo 153-8927 JAPAN
Tel: 03-5434-4700 Fax: 03-5434-4705
E-Mail
address: merck@merck.co.jp
Import, wholesale of liquid crystals,
pigments, reagents, pharmaceuticals
Osaka, Atsugi
Onahama (Fukushima-Pref), Atsugi
KARL ROESER, PRES
Hiroshi Ashizawa, dir
Koji Okamoto, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 53,444 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 2,100 M
TREND UP WORTH Yen 20,153 M
STARTED 1968 EMPLOYES 655
IMPORTER AND WHOLESALER SPECIALIZING IN
INDUSTRIAL CHEMICALS & PHARMACEUTICALS, OWNED BY MERCK GMBH, GERMANY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 2,206.0
MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Merck
KGaA, Germany, originally for marketing in Japan the products manufactured by
Merck group firm. Now the firm not only
sells products of the group, but also researches, develops and manufactures the
products. The core products are: liquid
crystals, pigments, reagents, other life science products. Products are also exported. In Nov 2011 merged with Millipore Japan.
The sales volume for Dec/2012 fiscal term amounted
to Yen 53,444 million, a 33% up from Yen 40,297 million in the previous
term. This is thanks to the said merger
of Millipore Japan. The recurring
profit was posted at Yen 3,480 million and the net profit at Yen 2,423 million,
respectively, compared with Yen 3,352 million recurring profit and Yen 1,726
million net profit, respectively, a year ago.
For the term that ended Dec/2013 the
recurring profit was projected at Yen 3,500 and the net profit at Yen 2,500
million, respectively, on a 3% rise in turnover, to Yen 55,000 million. Final results are yet to be released.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 2,206.0 million, on 30 days normal
terms.
Date
Registered: Feb
1968
Regd
No. 0132-01-005901
(Tokyo-Meguroku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 210,000 shares
Issued: 210,000
shares
Sum: Yen 2,100 million
Major
shareholders (%): Merck Internationale
Beteiligungen GmbH, Germany (72.4), Merck KGaA, Germany (27.6)
No.
of shareholders: 2
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Imports,
researches, develops, manufactures and wholesales liquid crystals, pigments for industrial use, optical &
energy related materials (vacuum vapor deposition chemicals, high temperature superconductivity materials),
Specialty chemicals (cosmetic raw
materials, pharmaceuticals bulks & intermediates, food additives &
natraceuticals, Custom synthesis
& services), reagents (chromatography related products, environmental analysis/microbiology/microscopy, life science
related products, general analytical
reagents),pharmaceuticals (auto-hypertensive
drugs, anti-cancer drugs, supplementary treatment of anaphylactic reactions),
others (--100%).
Clients: [Mfrs,
pharmaceutical mfrs, wholesalers] Merck KGaA, Tanabe Seiyaku, Sharp Corp,
Morishita & Co, Yamamoto Trading, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Merck KGaA and group firms.
Payment
record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Deutche Bank (Tokyo)
MUFG (Meguro-Ekimae)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2012 |
31/12/2011 |
|
|
Annual Sales |
|
55,000 |
53,444 |
40,297 |
38,490 |
|
Recur. Profit |
|
3,500 |
3,480 |
3,352 |
5,696 |
|
Net Profit |
|
2,500 |
2,423 |
1,726 |
3,471 |
|
Total Assets |
|
|
32,737 |
36,688 |
30,003 |
|
Current Assets |
|
|
24,143 |
27,555 |
21,232 |
|
Current Liabs |
|
|
11,884 |
17,107 |
10,294 |
|
Net Worth |
|
|
20,153 |
18,430 |
16,611 |
|
Capital, Paid-Up |
|
|
2,100 |
2,100 |
2,100 |
|
Div.Ttl in Million (¥) |
|
|
700 |
1,500 |
900 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.91 |
32.63 |
4.69 |
24.21 |
|
|
Current Ratio |
|
.. |
203.16 |
161.07 |
206.26 |
|
N.Worth Ratio |
.. |
61.56 |
50.23 |
55.36 |
|
|
R.Profit/Sales |
|
6.36 |
6.51 |
8.32 |
14.80 |
|
N.Profit/Sales |
4.55 |
4.53 |
4.28 |
9.02 |
|
|
Return On Equity |
.. |
12.02 |
9.37 |
20.90 |
|
Notes: Forecast figures for the 31/12/2012 Fiscal Term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
|
1 |
Rs.102.95 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.