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Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
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Name : |
PARAMOUNT BED CO LTD |
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Registered Office : |
2-14-5 Higashi-Suna Kotoku Tokyo 136-8671 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
May 1950 |
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Com. Reg. No.: |
0106-01-008657 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of medical & nursing-care beds |
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No of Employees : |
853 |
RATING & COMMENTS
|
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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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 – 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 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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
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Source
: CIA |
PARAMOUNT
BED CO LTD
Paramount Bed KK
2-14-5 Higashi-Suna Kotoku Tokyo
136-8671JAPAN
Tel: 03-3648-1111 Fax: 03-3648-3662
URL: http://www.paramount.co.jp
E-Mail address: (thru the URL)
Mfg of medical & nursing-care beds
Sapporo, Sendai, Nagoya, Osaka, Hiroshima,
Fukuoka, other (Tot16)
Tokyo, Sapporo, Nagoya, Osaka, Fukuoka
France, China (2), Indonesia, Thailand, UAE,
India, Singapore, Mexico
Chiba (2); France, Indonesia, China
(--subsidiaries)
KYOSUKE KIMURA, PRES Michihide Kimura, s/mgn dir
Toshio Hiriuchi, mgn dir Ikuo Sakamoto, dir
Izumi Satoh, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES GOOD A/SALES Yen 52,880 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 6,591 M
TREND UP WORTH Yen 38,774 M
STARTED 1950 EMPLOYES 853
MFR OF MEDICAL
& NURSING-CARE BEDS.
FINANCIAL SITUATION CONSIDERED GOOD AND RESPONSIBLE FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject
company was established originally in 1947 by Ryusuke Kimura for making beds,
on his account. Incorporated in 1950 as Shindai
Seisaku Co Ltd (Shindai Seisaku means bed-making). Renamed as captioned in Mar/1987. This is a major mfr of medical &
nursing-care beds, maintaining around 70% market share. The products are delivered and supplied to
over 90 countries worldwide. Achieved
high growth through development of original products. Also supplies mattress and hospital-use
furniture to medical and nursing-care institutions. Noted for international operations, with
production In Indonesia, China and France.
In Oct 2011, the firm shifted to a holding company, Paramount Bed
Holdings Co Ltd, and became its wholly owned subsidiary, when the firm was
delisted from the Tokyo S/E. Clients
include government & municipal hospitals, medical institutions, other,
nationwide
The sales volume
for Mar/2013 fiscal term amounted to Yen 52,880 million, a 3% up from Yen
51,221 million in the previous term.
Sales to assisted-living facilities rose at the term-end on the strength
of new orders after declined in the first half.
Sales to medical institutions also fared well, thanks to large-lot
orders. Sales of home-nursing care beds
also expanded, backed by increased sales bases.
The recurring profit was posted at Yen 9,323 million and the net profit
at Yen 5,788 million, respectively, compared with Yen 8,907 million recurring
profit and yen 5,219 million net profit, respectively, a year ago.
For the term that
ended Mar 2014 the recurring profit was projected at Yen 9,700 million and the
net profit at Yen 6,000 million, respectively, on a 7% rise in turnover, to Yen
56,500 million. Bed sales volume grew,
and production efficiency continued to improve.
Sales to facilities rose. Final
results are yet to be released.
The financial situation
is considered GOOD and responsible for ORDINARY business engagements.
Date
Registered: May 1950
Regd
No.: 0106-01-008657
(Tokyo-Kotoku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 126 million shares
Issued:
30,632,587
shares
Sum:
Yen
6,591.32 million
Major shareholders
(%): Paramount Bed Holdings
Co Ltd* (100)
*.. Holding company,
founded Oct 2011, listed Tokyo S/E, capital Yen 4,152 million, sales Yen 66,716
million, operating profit Yen 11,239 million, recurring profit Yen 11,981
million, net profit Yen 7,093 million, total assets Yen 112,013 million, net
worth Yen 78,794 million, employees 2,351, pres Kyosuke Kimura, concurrently
Nothing detrimental is known as to the commercial
morality of executives.
Activities: Manufactures
medical & nursing-care beds, mattresses, bed side items, ward equipment,
including maintenance, leasing, and related-services (--100%)
Clients: [Government/municipal
hospitals, nursing-care institutions, nursing-care homes & residential care
facilities] Paramount Care Service, Konishi Medical Instruments, Paratechno Co,
Yagami Co, Watakyu Seimoa Corp, other
No.
of accounts: 1,000
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Aichi Electric Co, Mitsuba Co, Nansin Co, JFE Shoji Kokankozai
Inc, ATL Wood Japan, Seiren Co, Bridgestone Diversified Chemical Products,
Panasonic System Networks, other
Imports from China, Indonesia and France (--subsidiary factories)
Payment
record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are
owned and maintained satisfactorily.
Bank
References:
Mizuho
Bank (Kameido)
MUFG
(Kameido)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
56,500 |
52,880 |
51,221 |
44,260 |
|
Recur.
Profit |
|
9,700 |
9,323 |
8,907 |
6,456 |
|
Net Profit |
|
6,000 |
5,788 |
5,219 |
3,122 |
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Total
Assets |
|
|
55,057 |
54,437 |
79,095 |
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Current
Assets |
|
|
31,217 |
30,844 |
37,292 |
|
Current
Liabs |
|
|
12,550 |
11,049 |
10,088 |
|
Net
Worth |
|
|
38,774 |
39,929 |
65,933 |
|
Capital,
Paid-Up |
|
|
6,591 |
6,591 |
6,591 |
|
Div.Ttl
in Million (¥) |
|
|
5,219 |
3,674 |
1,065 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
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S.Growth Rate |
6.85 |
3.24 |
15.73 |
17.04 |
|
|
Current Ratio |
.. |
248.74 |
279.16 |
369.67 |
|
|
N.Worth Ratio |
.. |
70.43 |
73.35 |
83.36 |
|
|
R.Profit/Sales |
17.17 |
17.63 |
17.39 |
14.59 |
|
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N.Profit/Sales |
10.62 |
10.95 |
10.19 |
7.05 |
|
|
Return On Equity |
.. |
14.93 |
13.07 |
4.74 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.32 |
|
|
1 |
Rs. 99.41 |
|
Euro |
1 |
Rs. 80.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
|
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.