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Report Date : |
29.07.2014 |
IDENTIFICATION DETAILS
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Name : |
BOEHRINGER INGELHEIM JAPAN INC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
June, 1961 |
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Com. Reg. No.: |
0107-01-019774 (Tokyo-Shinagawaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Imports, exports and wholesales pharmaceuticals, materials,
intermediates, health foods, animal feed, farm chemicals, reagents, other |
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No. of Employees |
Not Available |
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 3,439.0 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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. 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.
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Source
: CIA |
BOEHRINGER
INGELHEIM JAPAN INC
REGD NAME: Nippon Boehringer Ingelheim KK
MAIN OFFICE:
Tel: 03-6417-2200 Fax:
03-5435-2920
*..The is
its branch office & subsidiary
URL: http://www.boehringer-ingelheim.jp
E-Mail address:(thru the URL)
Imports, exports and wholesales pharmaceuticals, materials, intermediates,
health foods, animal feed, farm chemicals, reagents, other
Worldwide
Yamagata (subcontracted)
MASAO TORII, PRES Yoshiaki
Aono, rep dir
Osamu Aihara, dir Seiji
Yamazaki, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 206,460 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 7,200 M
TREND UP WORTH Yen 27,214 M
STARTED 1961 EMPLOYES 1,941
TRADING FIRM SPECIALIZING IN PHARMACEUTICALS, OWNED BY GERMAN CAPITAL.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 3,439.0 MILLION, ON 30 DAYS NORMAL
TERMS.
The subject company was established by Boehringer Ingelheim Germany as
its marketing office in Japan. This is a
trading firm, with mfg division (subsidiary) for import, export and wholesale
of pharmaceuticals, pharmaceutical materials & intermediates, health foods,
animal feed, farm chemicals, other.
Goods are supplied from the Germany parent and its group firms, major
domestic pharmacy makers, other.
The sales volume for Dec/2013 fiscal term amounted to Yen 206,460
million, an 8% up from Yen 190,517 million in the previous term. Pharmaceutical prices were up. Demand rose as the older generation
increasing. The recurring profit was
posted at Yen 11,244 million and the net profit at Yen 7,680 million,
respectively, compared with Yen 7,085 million recurring profit and Yen 574
million net profit, respectively, a year ago.
For the current term ending Dec 2014 the recurring profit is projected
at Yen 11,500 million and the net profit at Yen 7,700 million, respectively, on
a 4% rise in turnover, to Yen 215,000 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 3,439.0 million, on 30 days normal terms.
Date
Registered: Jun 1961
Regd
No.: 0107-01-019774
(Tokyo-Shinagawaku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 14.4 million shares
Issued:
14.4 million shares
Sum:
Yen
7,200 million
Major
shareholders (%): Boehringer Ingelheim Japan Inc (100)
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Imports, exports
and wholesales pharmaceuticals, materials, intermediates, health foods, animal
feed, farm chemicals, reagents, other. (--100%)
Clients: [Mfrs,
wholesalers] Daiichi Sankyo Co, Mitsubishi Tanabe Pharma Corp, Astellas Pharma
Inc, SSP Co, Boehringer Ingelheim Pharma Inc, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Boehringer Ingelheim International GmbH, Daiichi Sankyo, Capsugel Japan, Bushu
Pharmaceuticals, other
Payment
record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank
References:
SMBC (Osaka-Chuo)
MUFG (Osaka)
Relations: Satisfactory
(In Million Yen)
|
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
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Annual Sales |
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215,000 |
206,460 |
190,517 |
178,327 |
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Recur. Profit |
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11,500 |
11,244 |
7,085 |
6,200 |
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Net Profit |
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7,700 |
7,680 |
574 |
2,068 |
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Total Assets |
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99,246 |
100,816 |
98,732 |
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Current Assets |
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93,780 |
95,487 |
90,063 |
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Current Liabs |
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51,177 |
47,133 |
42,343 |
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Net Worth |
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27,214 |
29,516 |
28,932 |
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Capital, Paid-Up |
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7,200 |
7,200 |
7,200 |
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Div.Ttl in Million (¥) |
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3,600 |
1,440 |
1,440 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.14 |
8.37 |
6.84 |
9.94 |
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Current Ratio |
|
.. |
183.25 |
202.59 |
212.70 |
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N.Worth Ratio |
.. |
27.42 |
29.28 |
29.30 |
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R.Profit/Sales |
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5.35 |
5.45 |
3.72 |
3.48 |
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N.Profit/Sales |
3.58 |
3.72 |
0.30 |
1.16 |
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Return On Equity |
.. |
28.22 |
1.94 |
7.15 |
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Notes: Forecast (or estimated) figures for the 31/12/2014 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.60.10 |
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UK Pound |
1 |
Rs.102.04 |
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Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
SDA |
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 |
-- |
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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.