.
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Report Date : |
28.01.2014 |
IDENTIFICATION DETAILS
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Name : |
DAIICHI FINE CHEMICAL CO LTD |
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Registered Office : |
530 |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
December 1951 |
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Com. Reg. No.: |
2300-01-010803
(Toyama-Takaoka) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer and exporter
of pharmaceuticals raw materials & intermediates, bulk chemicals, bio
chemicals, veterinary drugs, food additives, feed additives, cosmetic
ingredients, diagnostic & reagents |
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|
|
|
No. of Employees : |
389 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
DAIICHI FINE CHEMICAL CO LTD
Daiichi Fine
Chemical KK
530 Chokeiji
Takaoka City Toyama-Pref 933-8511 JAPAN
Tel:
0766-21-3456 Fax: 0766-21-3792
URL: http://www.daiichi-fcj.co.jp/
E-Mail address: dfk@daiichi-fcj.co.jp
Mfg of pharmaceutical materials & intermediates, veterinary medicines, food additives, bio-chemicals, cosmetic ingredients
Tokyo,
Osaka
China (--subsidiary)
At the
caption address
ETSUO
OHSHIMA, PRES Tadashi Takeuchi,
dir
Yasuo Nagai, dir Chikayuki Kotani, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 12,822 M
PAYMENTSNo Complaints
CAPITAL Yen 6,276 M
TREND UP WORTH Yen 11,822 M
STARTED 1951 EMPLOYES 389
MFR SPECIALIZING IN PHARMACEUTICAL MATERIALS &
INTERMEDIATES, WHOLLY OWNED BY KYOWA HAKKO KOGYO CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a fine chemicals mfg division separated from Daiichi Pharmaceutical Co Ltd, leading prescription drugs maker, Tokyo, for mfg pharmaceuticals materials & intermediates, and other fine chemicals. Mfg items are expanded to include: pharmaceutical raw materials & intermediates, veterinary medicines, food additives, feed additives, cosmetic materials & ingredients, reagents, diagnostic, bio products. In Jul 2007, the firm was transferred to Kyowa Hakko Kogyo Kirin Co Ltd, fermented chemical mfr, Tokyo (See REGISTRATION) and became its wholly owned subsidiary. Integrated group fine chemicals operations into one at the subject. Goods are also imported and exported. Products are shipped mainly to the parent and its group companies.
The sales volume for Dec/2012 fiscal term amounted to Yen 12,822 million, a 9% up from Yen 11,734 million in the previous term. Operations continued in the deficit, due to the heightened material costs, the firm says. The recurring loss was posted at Yen 917 million and the net losses at Yen 1,013 million, respectively, compared with Yen 627 million recurring loss and Yen 1,057 million net losses, respectively, a year ago. .
For the term ended Dec 2013 the operations were projected to come back to profitability to post Yen 200 million recurring profit and Yen 100 million net profit, respectively, on a 5% rise in turnover, to Yen 13,500 million. Final results are yet to be released.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1951
Regd No.: 2300-01-010803 (Toyama-Takaoka)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 5.8 million shares
Issued: 3.4 million shares
Sum: Yen 6,276 million
Major shareholders (%): Kyowa
Hakko Kirin Co Ltd*(100)
*.. Largest fermented chemical mfr, Tokyo, founded 1949, listed Tokyo S/E, turnover Yen 333,158 million, operating profit Yen 52,905 million, recurring profit Yen 49,001 million, net profit Yen 24,199 million, total assets Yen 691,403 million, net worth Yen 578,113 million, employees 7,243, pres Nobuo Hanai
Nothing
detrimental is knows as to the commercial morality of executives.
Activities: Manufactures and exports pharmaceuticals raw materials & intermediates, bulk chemicals, bio chemicals (--87%), veterinary drugs, food additives, feed additives, cosmetic ingredients (--7%), diagnostic & reagents, others (6%).
Exports (23%)
Clients: [Pharmaceutical mfrs, wholesalers] Daiichi Sankyo Pro Pharma, Sekisui
Medical, Meiji Seika Pharma, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Daiichi Sankyo, Sekisui Medical, Tada Chemical Co, other
Payment record: No Complaints
Location: Business area in Takaoka City, Toyama-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC (Toyama)
Hokuriku Bank (Takaoka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual
Sales |
|
13,500 |
12,822 |
11,734 |
13,253 |
|
Recur.
Profit |
|
200 |
-917 |
-627 |
22 |
|
Net
Profit |
|
100 |
-1,013 |
-1,057 |
-1,406 |
|
Total
Assets |
|
|
24,158 |
21,375 |
19,339 |
|
Current
Assets |
|
|
11,435 |
11,257 |
10,157 |
|
Current
Liabs |
|
|
11,675 |
7,722 |
4,476 |
|
Net
Worth |
|
|
11,822 |
12,853 |
13,937 |
|
Capital,
Paid-Up |
|
|
6,276 |
6,276 |
6,276 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.29 |
9.27 |
-11.46 |
24.49 |
|
|
Current Ratio |
|
.. |
97.94 |
145.78 |
226.92 |
|
N.Worth Ratio |
.. |
48.94 |
60.13 |
72.07 |
|
|
R.Profit/Sales |
|
1.48 |
-7.15 |
-5.34 |
0.17 |
|
N.Profit/Sales |
0.74 |
-7.90 |
-9.01 |
-10.61 |
|
|
Return On Equity |
.. |
-8.57 |
-8.22 |
-10.09 |
|
Notes: Forecast (or
estimated) figures for the 31/12/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.71 |
|
UK Pound |
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.85.82 |
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.