MIRA INFORM REPORT
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Report Date : |
27.01.2014 |
IDENTIFICATION DETAILS
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Name : |
ACOMA MEDICAL INDUSTRY CO LTD |
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Registered Office : |
ICN Bldg 6F, 2-27-17 Hongo Bunkyoku |
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Country : |
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Financials (as on) : |
31.10.2012 |
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Date of Incorporation : |
February 1943 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of medical instruments/equipment |
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No. of Employees : |
151 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 143.4 Million |
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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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
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Source
: CIA |
ACOMA MEDICAL INDUSTRY
CO LTD
REGD NAME: Acoma Ika Kogyo KK
MAIN OFFICE: ICN Bldg 6F, 2-27-17 Hongo Bunkyoku Tokyo 113-0033 JAPAN
Tel: 03-3811-4151 Fax: 03-3811-4158
URL: http://www.acoma.com
E-Mail address: import@acoma-medical.co.jp; export`acoma-medical.co.jp
Mfg of medical instruments/equipment
Sapporo, Sendai, Osaka, Fukuoka, Nagoya, Takamatsu, other (Tot 13)
China, other
Saitama
TOSHIKAZU ANDO, PRES
Akira Ando, s/mgn dir
Kenji Ogaki, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,002 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 10 M
TREND UP WORTH Yen 4,486 M
STARTED 1943 EMPLOYES 151
MFR OF MEDICAL INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 143.4 MILLION, 30 DAYS NORMAL TERMS
The subject company was established originally in 1921 by Komataro Ando for trading medical equipment, on his account, and started mfg these instruments, with “Acoma” brand name officially registered in 1931, and was incorporated in 1943. Present executives are the founder’s descendants, with Toshikazu Ando taking the pres office in Jan 2001. This is a specialized mfr of medical instruments: anesthesia apparatus, vaporizers, artificial respirators, other (See OPERATION). Goods are both imported and exported. Imports are from: UK, USA, France, Germany, Canada, Korea, other. Clients include medical instruments mfrs, dealers, hospitals, other
The sales volume for Oct/2012 fiscal term amounted to Yen 3,002 million, a 3% up from Yen 2,924 million in the previous term. The recurring profit was posted at Yen 79 million and the net profit at Yen 44 million, respectively, compared with Yen 210 million recurring profit and yen 117 million net profit, respectively, a year ago.
For the term that ended Oct 2013 the recurring profit was projected at Yen 85 million and the net profit at Yen 50 million, respectively, on a 3% rise in turnover, to Yen 3,100 million. Weaker Yen may have raised earnings in Yen terms. 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 143.4 million, on 30 days normal terms.
Date Registered: Feb 1943
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued: 200,000 shares
Sum: Yen 10 million
Major shareholders (%): Acoma Real Estate (16), Company’s Treasury Stock (7), ATI (6), Yoshiko Ando (5)
No. of shareholders: 21
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures medical instruments: anesthesia apparatus, vaporizers, artificial respirators (ventilators), sphygmomanometers, aspirators, electro surgical units, ultrasonic nebulizers, various other medical items (--100%).
Clients: [Mfrs, wholesalers] Yamashita Medical Instruments, Kurihara Medical Instruments, MM Corporation, Konishi Medical Instruments, Sannou Corp, Kayabuki Medical Corp, other
No. of accounts: 400
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] MC Medical, Kyowa Electronics & Software Co, Fujisoft Inc,
Saito Yuki Kogyo, Mori Ika Seiki Seisakusho, Tanaka Rubber, Riken Keiki Co,
other
Payment record: No complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References: Mizuho Bank (Hongo)
MUFG (Hongo)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/10/2013 |
31/10/2012 |
31/10/2011 |
31/10/2010 |
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Annual
Sales |
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3,100 |
3,002 |
2,924 |
2,714 |
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Recur.
Profit |
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85 |
79 |
210 |
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Net
Profit |
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50 |
44 |
117 |
96 |
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Total
Assets |
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5,658 |
5,366 |
5,161 |
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Current
Assets |
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3,335 |
3,146 |
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Current
Liabs |
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688 |
592 |
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Net
Worth |
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4,486 |
4,469 |
4,363 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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2.90 |
1.40 |
0.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.26 |
2.67 |
7.74 |
3.35 |
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Current Ratio |
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.. |
484.74 |
531.42 |
.. |
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N.Worth Ratio |
.. |
79.29 |
83.28 |
84.54 |
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R.Profit/Sales |
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2.74 |
2.63 |
7.18 |
.. |
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N.Profit/Sales |
1.61 |
1.47 |
4.00 |
3.54 |
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Return On Equity |
.. |
0.98 |
2.62 |
2.20 |
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Notes: Forecast (or estimated) figures for the 31/10/2013 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.18 |
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1 |
Rs.103.38 |
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Euro |
1 |
Rs.85.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.