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Report Date : |
20.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
MITSUBISHI TANABE PHARMA CORPORATION |
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Registered Office : |
Yodoybashi Square, 2-6-18 Kitahama Chuoku
Osaka 541-0041 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
15.12.1933 |
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Legal Form : |
Limited Company |
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Line of Business : |
· Manufacturer and sale of pharmaceuticals, centered on ethical drugs · Manufacturer of cardiovascular drugs, biological products, CNS drugs, gastroenterology drugs, allergy/respiratory drugs, digestive medicine & OTC drugs |
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No. of Employees : |
9,197 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 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 |
MITSUBISHI TANABE PHARMA CORPORATION
Tanabe Mitsubishi
Seiyaku KK
Yodoybashi Square,
2-6-18 Kitahama Chuoku Osaka 541-0041 JAPAN
Tel:
06-6227-4960 Fax: 06-6233-2775
URL: http://www.mt-pharma.co.jp/
E-Mail address: info@mt-pharma.co.jp
· Manufacturer and sale of pharmaceuticals, centered on ethical drugs
·
Manufacturer of cardiovascular drugs, biological
products, CNS drugs, gastroenterology drugs, allergy/respiratory drugs, digestive
medicine & OTC drugs
Tokyo,
Osaka, Sapporo, Sendai, Saitama, Chiba, Kyoto, Kobe, Hiroshima, Takamatsu,
Fukuoka (Tot 21)
Osaka
(2), Saitama, Chiba, Hiroshima, Yokohama
MICHIHIRO
TSUCHIYA, PRES & CEO
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 419,179 M
PAYMENTSREGULAR CAPITAL Yen 50,000 M
TREND STEADY WORTH Yen 252,922 M
STARTED 2007 EMPLOYES 9,197
MFR OF ETHICAL PHARMACEUTICALS.
FINANCIAL SITUATION COSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
|
Business |
Terms Ending |
Annual Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
|
Results: |
31/03/2010 |
404,747 |
61,649 |
20,253 |
(%) |
676,813 |
|
(Consolidated) |
31/03/2011 |
409,540 |
76,684 |
37,747 |
1.18 |
695,959 |
|
31/03/2012 |
407,156 |
68,759 |
39,014 |
-0.58 |
721,485 |
|
|
31/03/2013 |
419,179 |
69,392 |
41,892 |
2.95 |
752,922 |
|
|
31/03/2014 |
419,000 |
65,500 |
45,000 |
-0.04 |
.. |
Note: Unit in Million Yen
Forecast
(or estimated) figures for 31/03/2014 fiscal term
Leading pharmaceutical mfr with strength in drugs for circulatory system. Oldest firm among leading drug makers. Has internationally known cardiac remedy drug “Herbesser”. Merged with Mitsubishi Pharma in Oct 2007. Became subsidiary of Mitsubishi Holdings Inc. Stressing drugs related to immune system and brain disorder. Active in licensing-out of new drugs.
The sales volume for Mar/2013 fiscal term amounted to Yen 419,179 million, a 3% up from Yen 407,156 million in the previous term. The recurring profit was posted at Yen 69,392 million and the net profit at Yen 41,892 million, respectively, compared with Yen 68,759 million recurring profit and Yen 39,014 million net profit, respectively, a year ago.
(Apr/Dec/2013 results): Sales Yen 323,210 million, operating profit Yen 55,526 million, recurring profit Yen 57,781 million, net profit Yen 43,851 million.
For the current term ending Mar 2014 the recurring profit is projected at Yen 65,500 million and the net profit at Yen 45,000 million, on a 0.04% rise in turnover, to Yen 319,000 million.
This
is the merger effects.
The financial situation is considered FAIR to GOOD and good for ORDINARY business engagements.
Date Registered: 15 Dec 1933
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized:
2,000 million shares
Issued: 561,477,916 shares
Sum: Yen 50,000
million
Major shareholders (%): Mitsubishi Chemical Holdings
(56.3), Japan Trustee Services Bank (4.3), Master Trust Bank of Japan (3.1),
other.
No. of shareholders:
19,526
Listed on the S/Exchange (s) of: Tokyo
Managements: Michihiro Tsuchya, pres, Kuniaki Kaga s/mgn dir; Kenichi Yanagisawa s/mgn dir; Kenkichi Kozakai mgn dir; Masayuki Mitsuya mgn dir; Koji Kobayashi mgn dir; Shigehiko Hattori, dir; Shigeo Sato, dir
Nothing detrimental is known as to the commercial morality of executives.
Related companies: Tanabe Europe, Yamaguchi Tanabe Seiyaku, other.
Activities: Manufactures cardiovascular drugs, biological products, CNS drugs, gastroenterology drugs, allergy/respiratory drugs, digestive medicine, OTC drugs (--99%), others (1%)..
Overseas Sales Ratio (11%)
Clients: [Drug stores, wholesalers] Suzuken (17.2%), Toho Pharmaceutical (16.3%), Alfresa Corp (13.1%), Mediceo Paltac Holdings (12.8%), other.
No. of accounts: 3,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Yamaguchi Tanabe Seiyaku, Termo, Ube Ind, Sun Chemical, Alfresa Corp, Jansen Biotech Inc, other.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
(Osaka)
Mizuho
Corporate Bank (Osaka)
Relations:
Satisfactory
(In Million Yen)
|
FINANCES: (Consolidated
in million yen) |
||||
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|
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Terms Ending: |
31/03/2013 |
31/03/2012 |
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INCOME STATEMENT |
||||
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Annual Sales |
|
419,179 |
407,156 |
|
|
Cost of Sales |
166,388 |
152,284 |
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GROSS PROFIT |
252,791 |
254,872 |
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Selling & Adm Costs |
183,823 |
185,829 |
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OPERATING PROFIT |
68,968 |
69,043 |
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Non-Operating P/L |
424 |
-284 |
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RECURRING PROFIT |
69,392 |
68,759 |
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NET PROFIT |
41,892 |
39,014 |
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BALANCE SHEET |
||||
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Cash |
|
20,281 |
15,466 |
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Receivables |
129,868 |
127,207 |
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Inventory |
92,783 |
86,190 |
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Securities, Marketable |
63,993 |
46,345 |
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Other Current Assets |
(130,239) |
144,443 |
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TOTAL CURRENT ASSETS |
176,686 |
419,651 |
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Property & Equipment |
92,283 |
103,929 |
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Intangibles |
104,159 |
109,355 |
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Investments, Other Fixed Assets |
493,646 |
186,990 |
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TOTAL ASSETS |
866,774 |
819,925 |
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Payables |
38,072 |
28,878 |
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Short-Term Bank Loans |
1,174 |
2,170 |
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|
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Other Current Liabs |
46,872 |
38,536 |
||
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TOTAL CURRENT LIABS |
86,118 |
69,584 |
||
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Debentures |
|
|
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Long-Term Bank Loans |
|
|
||
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Reserve for Retirement Allw |
9,443 |
10,584 |
||
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Other Debts |
|
18,291 |
18,272 |
|
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TOTAL LIABILITIES |
113,852 |
98,440 |
||
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MINORITY INTERESTS |
||||
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Common
stock |
50,000 |
50,000 |
||
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Additional
paid-in capital |
451,185 |
451,185 |
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Retained
earnings |
243,621 |
224,168 |
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Evaluation
p/l on investments/securities |
7,189 |
(82) |
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Others |
6,147 |
5,348 |
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Treasury
stock, at cost |
(5,220) |
(9,134) |
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TOTAL S/HOLDERS` EQUITY |
752,922 |
721,485 |
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|
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TOTAL EQUITIES |
866,774 |
819,925 |
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CONSOLIDATED CASH FLOWS |
||||
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Terms ending: |
31/03/2013 |
31/03/2012 |
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Cash
Flows from Operating Activities |
|
60,589 |
37,247 |
|
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Cash
Flows from Investment Activities |
-34,968 |
-63,225 |
||
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Cash
Flows from Financing Activities |
-23,677 |
-17,160 |
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|
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Cash,
Bank Deposits at the Term End |
|
58,745 |
54,344 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2013 |
31/03/2012 |
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Net
Worth (S/Holders' Equity) |
752,922 |
721,485 |
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|
Current
Ratio (%) |
205.17 |
603.09 |
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Net
Worth Ratio (%) |
86.86 |
87.99 |
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Recurring
Profit Ratio (%) |
16.55 |
16.89 |
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Net
Profit Ratio (%) |
9.99 |
9.58 |
||
|
Return
On Equity (%) |
5.56 |
5.41 |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.12 |
|
UK Pound |
1 |
Rs.103.93 |
|
Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.