|
Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
TAKEDA PHARMACEUTICAL CO LTD |
|
|
|
|
Registered Office : |
4-1-1 Doshomachi Chuoku Osaka 540-8645 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
Jan., 1925 |
|
|
|
|
Com. Reg. No.: |
1200-01-077461 (Osaka-Chuoku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
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|
|
|
Line of Business : |
Manufacturer of Pharmaceuticals |
|
|
|
|
No of Employees : |
31,507 |
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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 |
TAKEDA PHARMACEUTICAL CO LTD
REGD NAME: Takeda
Yakuhin Kogyo KK
MAIN OFFICE: 4-1-1
Doshomachi Chuoku Osaka 540-8645 JAPAN
Tel:
06-6204-2111 Fax: 06-6204-2880
E-Mail address: (thru
the URL)
Mfg of
pharmaceuticals
Tokyo, Sapporo, Sendai, Yokohama, Nagoya, Kobe, Kyoto, Takamatsu, Fukuoka, Hiroshima, Fukuoka, other (Tot 165)
USA (7), Canada, France, Italy, Germany, Austria, Switz, Spain, Portugal, Ireland, Netherlands, Sweden, Turkey, China, Taiwan, Thailand, Philippines, Indonesia, Singapore, Mexico (--subsidiaries), other (Tot 144 subsidiaries, and 18 equity-method affiliates, a total of 161 companies. Company has operations in approx 70 countries & territories)
Osaka, Fujisawa,
USA (3), UK (2), Singapore
Osaka, Hikari;
Italy, Ireland, China, Indonesia, USA, India, other
CHRISTOPHE WEBER,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,691,685 M
PAYMENTS REGULAR CAPITAL Yen 63,562 M
TREND STEADY WORTH Yen
2,540,635 M
STARTED 1925 EMPLOYES 31,507
PHARMACEUTICAL MFR.
FINANCIAL SITUATION COSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
|
Business |
Terms Ending |
Annual Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
|
Results: |
31/03/2011 |
1,419,386 |
371,572 |
247,868 |
(%) |
2,136,656 |
|
(Consolidated) |
31/03/2012 |
1,508,932 |
270,330 |
124,162 |
6.31 |
2,071,866 |
|
31/03/2013 |
1,557,005 |
133,068 |
148,583 |
3.19 |
2,338,286 |
|
|
31/03/2014 |
1,691,685 |
158,851 |
106,658 |
8.65 |
2,540,635 |
|
|
31/03/2015 |
1,725,000 |
140,000 |
85,000 |
1.97 |
.. |
Unit: Million Yen
Forecast
(or estimated) figures for 31/03/2015 fiscal term
This is a top-ranked
time-honored pharmaceutical mfr, dating back to 1781 when Chobei Takeda set up
a small firm, on his own, for selling Japanese & Chinese herbal
medicine. In 1871, formed a cooperative
union for purchasing and importing Western medicines. In 1985, started import of Western
medicines. In 1895, began direct imports
from England, US, Germany, Spain, other.
In 1896, launched pharmaceutical mfg business. In 1907, obtained exclusive sales rights in
Japan for products from German company Bayer.
And in 1925 incorporated as Chobei Takeda & Co Ltd. The name changed as captioned in 1943. The subject steadily expanded its
pharmaceutical business and even began exports to US, Russia and China. Has strength in drugs for lifestyle-related
illness such as high blood pressure and diabetes. Leads others in genome research. In untapped markets, such as emerging
countries, expanding own sales network, while planning marketing of generic
products. By the fiscal 2017, the
company will raise operating profit (excluding costs including goodwill
amortization) level by added Yen 200 billion through sale of new products and
slashing costs. New COO, Christophe
Weber, hired in from UK pharmaceutical firm took up the post in Apr 2014 and is
to be next CEO. It will step up efforts
to penetrate emerging markets.
The sales volume
for Mar/2014 fiscal term amounted to Yen 1,691,685 million, an 8.6% up from Yen
1,557,005 million in the previous term.
Sales of prescription drugs advanced powered by weaker Yen and growth in
emerging countries. The recurring profit
was posted at Yen 158,851 million and the net profit at Yen 198,558 million,
respectively, compared with Yen 133,068 million recurring profit and Yen
150,595 million net profit, respectively, a year ago. With no tax refund, the net profit declined.
For the current
term ending Mar 2015 the recurring profit is projected at Yen 140,000 million
and the net profit at Yen 85,000 million, on a 2.0% rise in turnover, to Yen
1,725,000 million. Growth in emerging
countries will continue. Effects on
domestic drug price revision will be absorbed by growing diabetes and
hypertensive drug sales.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date
Registered: Jan 1925
Regd
No.: 1200-01-077461
(Osaka-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 3,500
million shares
Issued: 789,680,695
shares
Sum: Yen
63,562 million
Major
shareholders (%): Nippon Life Ins (6.8), Japan Trustee Services T (4.1), Master Trust
Bank of Japan T (3.8), Takeda Science Foundation (2.2), Barclays Securities
Japan (1.9), State Street Bank & Trust 505225 (1.3), Bank of New York
Treaty Jasdec (1.1), State Street Bank West Treaty (1.0), SMBC (0.9), SSBT OD05
Omnibus Acct Treaty (0.9); foreign owners (26.4)
No.
of shareholders: 284,495
Listed on the S/Exchange (s) of: Tokyo
Managements: Yasuchika
Hasegawa, ch & CEO; Christophe Weber, pres & COO; Shinji Honda, s/mgn dir;
Tadataka Yamada, dir; Masato Iwasaki, dir; Francois Roger, dir
Nothing
detrimental is known as to the commercial morality of executives.
Related companies: Takeda America Holdings Inc, Takeda Europe Holdings Inc, Nihon Pharmaceutical Co, other
Activities: Manufactures
pharmaceuticals (Ethical Drugs) (90%), Health-care foods (4%), others (6%).
Overseas
Sales Ratio (53%)
(Products by
therapeutic category): For: allergy, cardiovascular, central nervous
system, diabetes, gastrointestinal, gout, infection, inflammation, interleukin,
osteoporosis, urology & gynecology, vaccine, vitamin, other.
Clients: [Pharmaceutical
mfrs, wholesalers] Mediceo Corp, Alfresa Corp, Astem Co, Vital Net Inc,
Nakakita Co, other
No. of accounts:
2,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Pfizer Japan Inc, Asuka Pharmaceutical Co, Senju Pharmaceutical
Co, Biofermin Pharmaceutical Co, Nihon Pharmaceutical Co, other.
Payment
record: Regular
Location: Business area in Osaka.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
SMBC (Osaka)
MUFG (Osaka-Chuo)
Relations: Satisfactory
(In Million Yen)
|
FINANCES: (Consolidated
in million yen) |
||||
|
|
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
|
INCOME STATEMENT |
||||
|
Annual Sales |
|
1,691,685 |
1,557,005 |
|
|
Cost of Sales |
490,263 |
463,845 |
||
|
GROSS PROFIT |
1,201,422 |
1,093,159 |
||
|
Selling & Adm Costs |
1,062,148 |
1,028,165 |
||
|
OPERATING PROFIT |
139,274 |
64,994 |
||
|
Non-Operating P/L |
19,577 |
68,074 |
||
|
RECURRING PROFIT |
158,851 |
133,068 |
||
|
|
NET PROFIT |
106,658 |
148,583 |
|
|
BALANCE SHEET |
||||
|
Cash |
|
666,048 |
545,580 |
|
|
Receivables |
430,620 |
374,977 |
||
|
Inventory |
254,329 |
229,258 |
||
|
Securities, Marketable |
|
|
||
|
Other Current Assets |
241,539 |
81,590 |
||
|
TOTAL CURRENT ASSETS |
1,592,536 |
1,231,405 |
||
|
Property & Equipment |
542,253 |
546,811 |
||
|
Intangibles |
1,135,597 |
1,095,806 |
||
|
Investments, Other Fixed Assets |
1,298,758 |
1,178,534 |
||
|
TOTAL ASSETS |
4,569,144 |
4,052,556 |
||
|
Payables |
110,129 |
96,419 |
||
|
Short-Term Bank Loans |
155,404 |
1,945 |
||
|
|
|
|
||
|
Other Current Liabs |
537,221 |
535,483 |
||
|
TOTAL CURRENT LIABS |
802,754 |
633,847 |
||
|
Debentures |
704,680 |
582,623 |
||
|
Long-Term Bank Loans |
|
|
||
|
Reserve for Retirement Allw |
76,497 |
66,641 |
||
|
Other Debts |
|
444,578 |
431,159 |
|
|
TOTAL LIABILITIES |
2,028,509 |
1,714,270 |
||
|
MINORITY INTERESTS |
||||
|
Common
stock |
63,562 |
63,562 |
||
|
Additional
paid-in capital |
39,866 |
40,257 |
||
|
Retained
earnings |
1,901,307 |
1,927,795 |
||
|
Evaluation
p/l on investments/securities |
466,624 |
243,097 |
||
|
Others |
69,897 |
64,162 |
||
|
Treasury
stock, at cost |
(621) |
(587) |
||
|
TOTAL S/HOLDERS` EQUITY |
2,540,635 |
2,338,286 |
||
|
|
TOTAL EQUITIES |
4,569,144 |
4,052,556 |
|
|
CONSOLIDATED CASH FLOWS |
||||
|
Terms ending: |
31/03/2014 |
31/03/2013 |
||
|
Cash
Flows from Operating Activities |
|
148,335 |
332,579 |
|
|
Cash Flows
from Investment Activities |
-158,611 |
-131,077 |
||
|
Cash
Flows from Financing Activities |
101,441 |
-152,202 |
||
|
|
Cash,
Bank Deposits at the Term End |
|
666,048 |
545,580 |
|
ANALYTICAL RATIOS Terms ending: |
31/03/2014 |
|
||
|
Net
Worth (S/Holders' Equity) |
2,540,635 |
2,338,286 |
||
|
Current
Ratio (%) |
198.38 |
194.27 |
||
|
Net
Worth Ratio (%) |
55.60 |
57.70 |
||
|
Recurring
Profit Ratio (%) |
9.39 |
8.55 |
||
|
Net
Profit Ratio (%) |
6.30 |
9.54 |
||
|
Return
On Equity (%) |
4.20 |
6.35 |
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.