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Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
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Name : |
JCR PHARMACEUTICALS CO LTD |
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Registered Office : |
3-19 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
September 1975 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of biopharmaceuticals, stressing gene recombinant human
growth hormone preparations .effective for dwarfism as main product. Engaged in research and development (R&D) of biopharmaceuticals based on recombinant DNA technologies |
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No. of Employees |
465 |
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 315.2 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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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.
|
Source : CIA |
JCR PHARMACEUTICALS CO LTD
JCR Pharma KK
3-19 Kasugacho
Ashiya City Hyogo-Pref 659-0021 JAPAN
Tel:
0797-32-8591
Fax:
0797-23-5262 -
URL: http://www.jcrpharm.co.jp
E-Mail address: (thru the URL)
· Manufacturer of biopharmaceuticals, stressing gene recombinant human growth hormone preparations .effective for dwarfism as main product.
Engaged in research and development (R&D) of biopharmaceuticals
based on recombinant DNA technologies
Ashiya,
Kobe (3)
China
At the
caption address, Kobe (Tot 4)
SHIN
ASHIDA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 14,099 M
PAYMENTS No
Complaints CAPITAL Yen
9,061 M
TREND UP WORTH Yen 23,496 M
STARTED 1975 EMPLOYES 465
MFG OF HUMAN-DERIVED BIOLOGICAL ACTIVE SUBSTANCE
FINANCIAL SITUATION COSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT
LIMIT: YEN 315.2 MILLION, 30 DAYS NORMAL TERMS
|
Business |
Terms Ending |
Annual Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
|
Results: |
31/03/2010 |
14,387 |
1,861 |
1,302 |
(%) |
20,483 |
|
(Consolidated) |
31/03/2011 |
14,457 |
1,312 |
926 |
0.49 |
22,832 |
|
|
31/03/2012 |
12,845 |
1,005 |
633 |
-11.15 |
22,633 |
|
|
31/03/2013 |
14,099 |
1,156 |
730 |
9.76 |
23,496 |
|
|
31/03/2014 |
15,800 |
1,680 |
1,230 |
12.06 |
.. |
Unit: In Million Yen
Forecast figures for the 31/03/2014
fiscal term.
This is the leading mfr in field of biopharmaceuticals, stressing gene
recombinant human growth hormone preparations .effective for dwarfism as main
product. Name changed in Jan 2014 from the
then Japan Chemical Research KK. Subject is engaged in research and development (R&D) of
biopharmaceuticals based on recombinant DNA technologies. The firm is
pursuing joint research with Kissei Pharmaceutical to expand line up of renal
anemia-treating biosimilars. Joint
international clinical trial with GlaxoSmithKline (GSK) is being prepared to
investigate drug for treating Fabry disease, an orphan disease caused by
metabolic enzyme deficiency.
The sales volume for Mar/2012 fiscal term amounted to Yen 14,099
million, a 9.8% up from Yen 12,845 million in the previous term. The recurring profit was posted at Yen 1,156
million and the net profit at Yen 730 million, respectively, compared with Yen
1,005 million recurring profit and Yen 633 million net profit, respectively, a
year ago.
(Apr/Dec/2013 results): Sales Yen 11,641 million (up 15.6%), operating
profit Yen 1,377 million (up 90.6%), recurring profit Yen 1,495 million (up
101.5%), net profit Yen 1,150 million (up 216.5%). (% compared with the corresponding period a
year ago)
For the current term ending Mar 2013 the recurring profit is projected
at Yen 1,680 million and the net profit at Yen 1,230 million, on a 12.1% rise
in turnover, to Yen 15,800 million.
Sales of therapeutic agent for renal anemia are rising. Operating profit will grow.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 315.2 million, on 30 days normal terms.
Date Registered: Sept
1975
Legal Status:
Limited Company (Kabushiki Kaisha
Authorized: 80 million shares
Issued: 32,421,577 shares
Sum: Yen 9,061
million
Major shareholders
(%):
Glaxo Group Ltd (24.6), Kissei Pharmaceutical (11.7), Future Brain (6.7), Shin
Ashida (4.9), Hajime Hiratani (2.9), Dainippon Sumitomo Pharma (2.6), Company’s
Treasury Stock (1.9), Yasuko Kageyama (1.7), Mochida Pharmaceutical (1.6),
Mizuho Bank (1.6); foreign owners (28.6)
No. of
shareholders: 4,789
Listed on the
S/Exchange (s) of: Tokyo
Managements: Shin Ashida,
pres; Katsuro Oono, s/mgn dir; Tetsushi Mantani, mgn dir; Katsuya Nishino, mgn
dir; Katsuhiko Tachibana, dir; Tatsuo Suzuki, dir; Hiroshi Yoshimoto, dir
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
pharmaceuticals (97%), medical & research equipment (3%)
Clients: [Mfrs,
wholesalers] Mediseo, Mochida Pharmaceutical, Alfress, Kissei Pharmaceutical,
Dainippon Sumitomo Pharma, Nippon Chemical, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Ferring International Center, Hospira Boulder, other
Payment record: No Complaints
Location: Business area in
Ashiya City, Hyogo-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank
References:
Mizuho Bank (Kobe)
MUFG
(Sannomiya)
Relations:
Satisfactory
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2013 |
31/03/2012 |
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INCOME STATEMENT |
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Annual Sales |
|
14,099 |
12,845 |
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Cost of Sales |
5,036 |
4,213 |
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GROSS PROFIT |
9,062 |
8,632 |
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Selling & Adm Costs |
7,912 |
7,542 |
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OPERATING PROFIT |
1,150 |
1,089 |
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Non-Operating P/L |
6 |
-86 |
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RECURRING PROFIT |
1,156 |
1,005 |
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NET PROFIT |
730 |
633 |
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BALANCE SHEET |
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Cash |
|
822 |
865 |
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Receivables |
|
4,900 |
4,048 |
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Inventory |
|
4,959 |
5,109 |
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Securities, Marketable |
3,869 |
3,200 |
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Other Current Assets |
1,435 |
1,020 |
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TOTAL CURRENT ASSETS |
15,985 |
14,242 |
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Property & Equipment |
10,367 |
9,737 |
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Intangibles |
|
78 |
99 |
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Investments, Other Fixed Assets |
4,856 |
4,889 |
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TOTAL ASSETS |
31,286 |
28,967 |
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Payables |
|
735 |
229 |
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Short-Term Bank Loans |
2,000 |
1,973 |
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Other Current Liabs |
2,890 |
2,218 |
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TOTAL CURRENT LIABS |
5,625 |
4,420 |
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Debentures |
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Long-Term Bank Loans |
871 |
532 |
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Reserve for Retirement Allw |
193 |
78 |
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Other Debts |
|
1,101 |
1,304 |
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TOTAL LIABILITIES |
7,790 |
6,334 |
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MINORITY INTERESTS |
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Common
stock |
9,061 |
9,061 |
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Additional
paid-in capital |
10,788 |
10,779 |
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Retained
earnings |
3,562 |
3,211 |
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Evaluation
p/l on investments/securities |
404 |
45 |
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Others |
|
225 |
123 |
|
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Treasury
stock, at cost |
(544) |
(586) |
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TOTAL S/HOLDERS` EQUITY |
23,496 |
22,633 |
|
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TOTAL EQUITIES |
31,286 |
28,967 |
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CONSOLIDATED CASH FLOWS |
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||
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Terms ending: |
31/03/2013 |
31/03/2012 |
|
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Cash
Flows from Operating Activities |
|
1,661 |
-421 |
|
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Cash
Flows from Investment Activities |
-178 |
1,539 |
|
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Cash
Flows from Financing Activities |
-738 |
-1,065 |
|
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Cash,
Bank Deposits at the Term End |
|
4,148 |
2,865 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2013 |
31/03/2012 |
||
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Net
Worth (S/Holders' Equity) |
23,496 |
22,633 |
|
|
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Current
Ratio (%) |
284.18 |
322.22 |
|
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Net
Worth Ratio (%) |
75.10 |
78.13 |
|
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Recurring
Profit Ratio (%) |
8.20 |
7.82 |
|
|
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Net
Profit Ratio (%) |
5.18 |
4.93 |
|
|
|
Return
On Equity (%) |
3.11 |
2.80 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.17 |
|
UK Pound |
1 |
Rs.99.39 |
|
Euro |
1 |
Rs.83.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>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 |
|
|
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.