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Report Date : |
19.07.2014 |
IDENTIFICATION DETAILS
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Name : |
SHIRATORI PHARMACEUTICAL CO LTD |
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Registered Office : |
2-3-7 |
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Country : |
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Financials (as on) : |
31.08.2013 |
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Date of Incorporation : |
April, 1948 |
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Com. Reg. No.: |
0400-01-014486 (Chiba-Narashino) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of pharmaceuticals, chemicals, food additives |
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No. of Employees : |
133 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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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 |
SHIRATORI
PHARMACEUTICAL CO LTD
REGD NAME: Shiratori Seiyaku KK
MAIN OFFICE: 2-3-7 Akanehama Narashino City Chiba-Pref
275-0024 JAPAN
Tel:
047-453-3161
Fax: 047-453-3170
URL: http://www.shiratori-pharma.co.jp
E-Mail address: (thru the URL)
Mfg of pharmaceuticals, chemicals, food additives, other
Tsudanuma (Chiba-Pref)
Chiba (2), Saitama
YUTAKA SHIRATORI, PRES Satoshi
Shiratori, v pres
Shuji Yano, s/mgn dir Shigeya
Sumita, dir
Akihiko Hosokai, dir Masanori
Takesue, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,636 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
95 M
TREND SLOW WORTH Yen 2,534 M
STARTED 1948 EMPLOYES 133
MFR OF PHARMACEUTICALS, CHEMICALS, FOOD ADDITIVES, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established originally in 1916 by Yosozaemon
Shiraori in order to manufacture caffeine, on his account, the first of its
kind in Japan. Incorporated in 1948 the
firm has been succeeded by his descendants.
This is a specialized mfr of pharmaceuticals, chemicals, food additives,
other. Clients include pharmaceutical
mfrs, food mfrs, other.
The sales volume for Aug/2013 fiscal term amounted to Yen 3,636 million,
a 12% down from Yen 4,128 million in the previous term. Sales of functional chemicals were down. The recurring profit was posted at Yen 9
million and the net profit at Yen 17 million, respectively, compared with Yen
85 million recurring profit and Yen 81 million net profit, respectively, a year
ago.
For the current term ending Aug 2014 the recurring profit is projected at
Yen 60 million and the net profit at Yen 45 million, respectively, on a 6% rise
in turnover, to Yen 3,850 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr 1948
Regd No.: 0400-01-014486 (Chiba-Narashino)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
7.6 million shares
Issued:
1.9 million shares
Sum: Yen 95 million
Major shareholders
(%): Shiratori Yakuhin Co (29), Tokyo Small & Medium Business
Promotion &
Investment Assn (26), shinwakai (6)
No. of
shareholders: 36
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
pharmaceuticals, reagents, intermediates (70%), chemicals, chemical products
(15%), health foods, food additives (10%)
Clients: [Mfrs,
wholesalers] Shiratori Yakuhin Co (66.2%), Coca Cola Japan (6.8%), Daiichi
Sankyo Co (6.6%), Techno Chem Corp (5.6%), other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Sanofi KK (23.8%), BASF South East Asia (20%), Kenko Corp (7.7%),
Mitsubishi Corp (7.4%), other
Payment record: No complaints
Location: Business area in
Narashino, Chiba-Pref. Office premises at
the caption address are owned and maintained satisfactory.
Bank References:
Chiba Bank
(Tsudanuma)
Shoko
Chukin Bank (Chiba)
Relations:
Satisfactory
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Terms Ending: |
31/08/2014 |
31/08/2013 |
31/08/2012 |
31/08/2011 |
|
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Annual Sales |
|
3,850 |
3,636 |
4,128 |
4,129 |
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Recur. Profit |
|
60 |
9 |
85 |
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Net Profit |
|
45 |
17 |
81 |
117 |
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Total Assets |
|
|
6,397 |
5,919 |
5,994 |
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Current Assets |
|
|
3,543 |
3,569 |
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Current Liabs |
|
|
3,029 |
2,678 |
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Net Worth |
|
|
2,534 |
2,477 |
2,397 |
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Capital, Paid-Up |
|
|
95 |
95 |
95 |
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Div.Ttl in Million (¥) |
|
|
9.5 |
9.5 |
9.5 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.89 |
-11.92 |
-0.02 |
18.48 |
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Current Ratio |
|
.. |
116.97 |
133.27 |
.. |
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N.Worth Ratio |
.. |
39.61 |
41.85 |
39.99 |
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R.Profit/Sales |
|
1.56 |
0.25 |
2.06 |
.. |
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N.Profit/Sales |
1.17 |
0.47 |
1.96 |
2.83 |
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Return On Equity |
.. |
0.67 |
3.27 |
4.88 |
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Notes: Forecast (or estimated) figures for the 31/08/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.33 |
|
|
1 |
Rs.103.18 |
|
Euro |
1 |
Rs.81.58 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
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 |
|
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.