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Report Date : |
06.03.2014 |
IDENTIFICATION DETAILS
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Name : |
NEITZ INSTRUMENTS CO LTD |
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Registered Office : |
36-13 Wakamatsucho Shinjukuku Tokyo 162-0056 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
13.04.1965 |
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Com. Reg. No.: |
0111-01-015300
(Tokyo-Shinjukuku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of medical equipment & devices including ophthalmic
devices, surgical loupes, contact gauges, contact lens & low vision aids |
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No. of Employees |
21 |
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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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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.
Newly-elected Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has pledged to reconsider his predecessor's plan
to permanently close nuclear power plants and is pursuing an economic
revitalization agenda of fiscal stimulus and regulatory reform and has said he
will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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
exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth,
and an aging and shrinking population are other major long-term challenges for
the economy.
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Source : CIA |
NEITZ INSTRUMENTS CO LTD
KK Neitz
36-13 Wakamatsucho
Shinjukuku Tokyo 162-0056 JAPAN
Tel:
03-3204-2068 Fax: 03-3204-2069
URL: http://www.neitz-ophthalmic.com
E-Mail address: int@neitz.co.jp
Mfg of
ophthalmic devices, other medical equipment & devices
Nagano
Nagano
TAKAE
NISHIZAWA, PRES
Kazuo
Kuzukake, s/mgn dir
Yoshikazu
Nishizawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 429 M
PAYMENTSNo Complaints
CAPITAL Yen 98 M
TREND SLOW WORTH Yen 340 M
STARTED 1965 EMPLOYES 21
MFR OF OPHTHALMIC DEVICES, OTHER MEDICAL DEVICES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1948 by Dr. Akira Naito
as Naito Ophthalmic Instrument Research Institute for making medical
equipment. In 1965 the subject was
founded by taking over business operations of Naito Ophthalmic. This is a specialized mfr of ophthalmic
devices, surgical loupes, contact gauge, other medical equipment &
devices. In 2010 the subject was
acquired by Nishizawa Electric Measuring Instruments Co Ltd, and became fully
owned subsidiary. Products are exported
to USA, Europe, Middle East, Asia, Oceania, other. Goods are supplied to hospitals,
medical institutions, dealers, other.
The sales volume for Dec/2012 fiscal term amounted to Yen 429 million, a
4% down from Yen 447 million in the previous term. The recurring profit was posted at Yen 1
million and the net profit at Yen 1 million, respectively, compared with Yen 5
million recurring profit and Yen 5 million net profit, respectively, a year
ago.
For the term that ended Dec 2013 the recurring profit was projected at
Yen 5 million and the net profit at Yen 5 million, respectively, on a 5% rise
in turnover, to Yen 450 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: 13 Apr 1965
Regd No.: 0111-01-015300 (Tokyo-Shinjukuku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
784,000 shares
Issued: 196,000 shares
Sum: Yen 98 million
Major shareholders
(%): Nishizawa Electric Measuring Instruments Co Ltd* (100)
*.. Mfr of electric measuring equipment, Nagano, founded 1988, capital
Yen 20 million, sales Yen 361 million, net loss Yen 8 million, employees 49,
pres Takae Nishizawa, concurrently
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures
medical equipment & devices: ophthalmic devices, surgical loupes, contact
gauges, contact lens, low vision aids, other (--100%)
Clients: [Mfrs,
wholesalers] Ritz Medical Clinic, Keeler & Y Na Ltd, Kohno Medical Instruments
Inc, Hosobuchi Electric Lamp, Heiwa Iyo Shokai, IOL Medical, Muranaka Medical
Instruments, Nishizawa Electric Measuring Instruments, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Haga Electric Ind,
Hosobuchi Electric Lamp, Ritz Medical, Nidek Co, Nakai Koki Mfg, Shibuya
Optical, East & West Plastic Inc, other
Payment record: No
Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Resona
Bank (Kagurazaka)
Mizuho
Bank (Shibuya)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
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Annual
Sales |
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450 |
429 |
447 |
422 |
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Recur.
Profit |
|
5 |
1 |
5 |
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Net
Profit |
|
5 |
1 |
5 |
494 |
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Total
Assets |
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|
414 |
403 |
402 |
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Current
Assets |
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|
407 |
398 |
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Current
Liabs |
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73 |
63 |
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Net
Worth |
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340 |
339 |
335 |
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Capital,
Paid-Up |
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|
98 |
98 |
98 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.90 |
-4.03 |
5.92 |
2.93 |
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Current Ratio |
.. |
557.53 |
631.75 |
.. |
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N.Worth Ratio |
.. |
82.13 |
84.12 |
83.33 |
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R.Profit/Sales |
1.11 |
0.23 |
1.12 |
.. |
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N.Profit/Sales |
1.11 |
0.23 |
1.12 |
117.06 |
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Return On Equity |
.. |
0.29 |
1.47 |
147.46 |
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Notes:
Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.86 |
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UK Pound |
1 |
Rs.103.06 |
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Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.