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Report Date : |
26.06.2014 |
IDENTIFICATION DETAILS
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Name : |
SANTEN PHARMACEUTICAL CO LTD |
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Registered Office : |
4-20 Ofukacho Kitaku Osaka 530-8552 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
July 1925 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of pharmaceuticals, medical devices |
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No. of Employees |
3,072 |
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 |
COMPANY NAME AND
ADDRESS
SANTEN
PHARMACEUTICAL CO LTD
REGD NAME: Santen
Seiyaku KK
MAIN OFFICE: 4-20
Ofukacho Kitaku Osaka 530-8552 JAPAN
Tel:
06-6321-7000 Fax: 06-6328-5082
*.. The is its
Nara R&D Center -
URL: http://www.santen.co.jp
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of
pharmaceuticals, medical devices
BRANCHES
94 Nationwide
OVERSEAS
China, Vietnam,
USA, Netherlands, Finland, France, Germany, India
FACTORIES
Ishikawa, Shiga;
China, Finland
CHIEF EXEC
AKIRA KUROKAWA,
PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 148,663 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 7,264 M
TREND UP WORTH Yen 181,209 M
STARTED 1925 EMPLOYES 3,072
COMMENT
MFR OF PHARMACEUTICALS, MEDICAL DEVICES, OTHER
FINANCIAL SITUATION COSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
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Business |
Terms Ending |
Annual Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
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Results: |
31/03/2011 |
110,812 |
31,484 |
21,333 |
(%) |
156,404 |
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(Consolidated) |
31/03/2012 |
114,416 |
27,780 |
17,160 |
3.25 |
164,861 |
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31/03/2013 |
119,066 |
25,602 |
16,520 |
4.06 |
165,132 |
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31/03/2014 |
148,663 |
27,924 |
17,109 |
24.86 |
181,209 |
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31/03/2015 |
151,000 |
28,500 |
18,600 |
1.57 |
.. |
Unit: In Million Yen
Forecast
figures for the 31/03/2015 fiscal term.
HIGHLIGHTS
This is the largest mfr of ophthalmic medicines for practitioners, with
synthetic antibacterial eye solutions “Tarivid” and “Cravit” becoming
blockbusters. Originally cold medicine
maker set up in 1890, marketing its first eye drop in 1897. Also makes antirheumatic drugs. Expanding presence in overseas. The company is preparing to apply for
approval of Europe’s first medical-use agent to treat dry eye. It has gained approval for second indication
for age-related macular degeneration drug now penetrating market. .
FINANCIAL
INFORMATION
The sales volume for Mar/2014 fiscal term
amounted to Yen 148,663 million, a 24.9% up
from Yen 119,066 million in the previous
term. Sales of mainline drug for
treatment of glaucoma in combination ophthalmic solution picked up. Those of solutions for dry eye were also
doing well as Diquas penetrates market.
Eylea treatment for age-related macular degeneration sold faster than
expected. The recurring profit was
posted at Yen 27,924 million and the net profit at Yen 17,109 million,
respectively, compared with Yen 25,602 million recurring profit and Yen 16,520
million net profit, respectively, a year ago.
For the current term ending Mar 2015 the
recurring profit is projected at Yen 28,500 million
and the net profit at Yen 18,600 million, on
a 1.6% rise in turnover, to Yen 151,000 million. Growth in new products will compensate for
effects of drug price revision.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
REGISTRATION
Date Registered: Jul 1925
Legal Status: Limited
Company (Kabushiki Kaisha
Authorized:
220 million shares
Issued:
82,469,103 shares
Sum: Yen 7,264 million
Major
shareholders (%): Japan Trustee Services T (12.6), State Street Bank & Trust 505223
(6.0), Development Bank of Japan (4.0), Master Bank of Japan T (3.8), Nippon Life
Ins (2.9), MUFG (2.5), Trust & Custody Services Bank (2.4), State Street
Bank & Trust (2.3), Ono Pharmaceutical (2.2), Daiichi Sangyo (2.2); foreign
owners (44.8)
No.
of shareholders: 6,538
Listed on the S/Exchange (s) of: Tokyo
Managements: Akira Kurokawa,
pres; Sadatoshi Furukawa, v pres; Noboru Kotani, dir; Akihiro Okumura, dir;
Takayuki Katayama, dir
Nothing
detrimental is known as to the commercial morality of executives.
Related companies: Japan Claire Co, Santen Inc USA, Santen
Finland, other.
OPERATION
Activities: Manufactures
prescription drugs (99%), general prescription drugs (1%).
Clients: [Mfrs,
wholesalers] Suzuken Co, Mediceo Corp, Toho Pharmaceutical, KSK,
Alfresa Corp, other
No. of accounts:
600
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] MSD, Bayer
Pharmaceutical, Yansen Pharma, Pfizer
Japan Inc, Banyu
Pharmaceutical, other
Payment record: No complaints
Location: Business area in
Osaka. Office premises at the caption address
are owned and maintained satisfactorily.
Bank References:
MUFG (Osaka)
SMBC (Osaka-Chuo)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2014 |
31/03/2013 |
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INCOME STATEMENT |
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Annual Sales |
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148,663 |
119,066 |
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Cost of Sales |
58,104 |
41,501 |
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GROSS PROFIT |
90,558 |
77,564 |
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Selling & Adm Costs |
63,144 |
52,883 |
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OPERATING PROFIT |
27,414 |
24,681 |
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Non-Operating P/L |
510 |
921 |
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RECURRING PROFIT |
27,924 |
25,602 |
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NET PROFIT |
17,109 |
16,520 |
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BALANCE SHEET |
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Cash |
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63,509 |
50,884 |
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Receivables |
52,086 |
43,840 |
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Inventory |
20,030 |
20,947 |
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Securities, Marketable |
13,111 |
11,007 |
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Other Current Assets |
7,270 |
5,904 |
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TOTAL CURRENT ASSETS |
156,006 |
132,582 |
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Property & Equipment |
27,628 |
27,420 |
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Intangibles |
16,585 |
14,123 |
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Investments, Other Fixed Assets |
30,886 |
25,515 |
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TOTAL ASSETS |
231,105 |
199,640 |
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Payables |
14,270 |
9,266 |
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Short-Term Bank Loans |
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Other Current Liabs |
24,823 |
17,745 |
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TOTAL CURRENT LIABS |
39,093 |
27,011 |
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Debentures |
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Long-Term Bank Loans |
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Reserve for Retirement Allw |
5,400 |
3,664 |
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Other Debts |
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5,403 |
3,832 |
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TOTAL LIABILITIES |
49,896 |
34,507 |
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MINORITY INTERESTS |
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Common
stock |
7,264 |
7,080 |
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Additional
paid-in capital |
7,958 |
7,775 |
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Retained
earnings |
160,115 |
151,001 |
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Evaluation
p/l on investments/securities |
4,035 |
1,920 |
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Others |
1,846 |
(2,642) |
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Treasury
stock, at cost |
(9) |
(2) |
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TOTAL S/HOLDERS` EQUITY |
181,209 |
165,132 |
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TOTAL EQUITIES |
231,105 |
199,640 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2014 |
31/03/2013 |
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Cash
Flows from Operating Activities |
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25,958 |
9,942 |
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Cash
Flows from Investment Activities |
-6,694 |
-4,595 |
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Cash
Flows from Financing Activities |
-7,953 |
-21,557 |
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Cash,
Bank Deposits at the Term End |
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72,396 |
59,797 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2014 |
31/03/2013 |
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Net
Worth (S/Holders' Equity) |
181,209 |
165,132 |
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Current
Ratio (%) |
399.06 |
490.84 |
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Net
Worth Ratio (%) |
78.41 |
82.71 |
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Recurring
Profit Ratio (%) |
18.78 |
21.50 |
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Net
Profit Ratio (%) |
11.51 |
13.87 |
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Return
On Equity (%) |
9.44 |
10.00 |
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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.