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Report Date : |
10.05.2014 |
IDENTIFICATION DETAILS
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Name : |
OG GIKEN CO LTD |
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Registered Office : |
1835-7 Miyoshi Nakaku Okayama 703-8261 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2013 |
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Date of Incorporation : |
September 1966 |
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Com. Reg. No.: |
2600-01-001417 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of electro-medical equipment & rehabilitation
equipment |
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No. of Employees : |
426 |
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 : |
Slow but correct |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
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 |
OG GIKEN CO LTD
REGD NAME: O.
G. Giken KK
MAIN OFFICE: 1835-7
Miyoshi Nakaku Okayama 703-8261 JAPAN
Tel:
086-277-7181 Fax: 086-274-9072
URL: http://www.og-giken.co.jp
E-Mail address: (thru the URL)
Mfg of
electro-medical equipment & rehabilitation equipment
Tokyo, Osaka,
Nagoya, Yokohama, Kyoto Kobe, other (Tot 17)
Okayama
HIROSHI OKUDA,
PRES Makoto Wada, mgn dir
Sumio Namba, dir Yasuhiko Ozaki, dir
Kiyotoshi Goda,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 11,336 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 40 M
TREND SLOW WORTH Yen
13,408 M
STARTED 1966 EMPLOYES 426
MFR OF MEDICAL/REHABILITATION EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1949 by Iwao Okuda for
making medical equipment, on his account, as Medical Welfare & Health Care
Appliances, and was incorporated in 1966, as OG Giken Co Ltd. This is a specialized mfr of medical/welfare
& healthcare equipment (See OPERATION). Nation’s top mfr of these facilities, with
high share in bath-tubs for rehabilitation facilities. Clients include medical equipment makers,
wholesalers, other.
Financials are only partially disclosed.
The firm disclosed total assets & net worth figures for the first
time for the 30/04/2013 fiscal term. All
previous figures are amended accordingly.
The sales volume for Apr/2013 fiscal term amounted to Yen 11,336
million, a 1% down from Yen 11,463 million in the previous term. New products were delayed for delivery. The net profit was posted at Yen 310 million,
compared with Yen 1,266 million a year ago.
For the current term ending Apr 2014 the net profit is projected at Yen
1,300 million, on a 5% rise in turnover, to Yen 11,900 million. Demand for baths continue rising.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Sept
1966
Regd No.:
2600-01-001417 (Okayama-Nakaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 320,000 shares
Issued: 80,000 shares
Sum: Yen 40 million
Major shareholders (%): Eishin (50.2),
Hiroshi Okuda (44.7), Nikken (5.1)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
electro-medical equipment, rehabilitation equipment: motorized intermittent traction
apparatus, microwave therapy apparatus, low frequency stimulator, ultrasonic
therapy apparatus, interference therapy apparatus, transcutaneous simulator,
paraffin bath, moist hot packs, consumable & spare goods, other.
(Sales
Ratios): baths/bath tubs for rehabilitation/health-care (60%), electro-medical
equipment, others (--40%). (% is all
about)
Clients: [Mfrs,
wholesalers] Muranaka Medical Instruments Co, Kurihara Medical Instruments,
Makoto Medical Systems Inc, Yamashita Total Medical Support, Watakyu Seimoa
Corp, K I Ika Kikai, Yagami Co, Yagami Mfg, MM Corporation, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Komura Corp, Hikari Keikinzoku Co, Inter-Riha Co, Cateye Co, Medo
Ind Co, Panasonic Corp, Senoh Corp, Takada Bed Mfg Ind, other
Payment record: Slow but correct
Location: Business area in
Okayama. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Chugoku Bank (H/O)
Mizuho Bank (Okayama)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
|
30/04/2014 |
30/04/2013 |
30/04/2012 |
30/04/2011 |
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Annual
Sales |
|
11,900 |
11,336 |
11,463 |
9,793 |
|
Recur.
Profit |
|
.. |
343 |
.. |
.. |
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Net Profit |
|
1,300 |
310 |
1,266 |
975 |
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Total
Assets |
|
|
16,530 |
N/A |
N/A |
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Net
Worth |
|
|
13,408 |
13,098 |
11,832 |
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Capital,
Paid-Up |
|
|
40 |
40 |
40 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
4.98 |
-1.11 |
17.05 |
14.58 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
81.11 |
.. |
.. |
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N.Profit/Sales |
10.92 |
2.73 |
11.04 |
9.96 |
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Notes: Financials are only partially disclosed. Total assets & net worth figures are
disclosed for the first time for the 30/04/2013 fiscal term. All figures are amended according to these
figures.
Forecast (or
estimated) figures for the 30/04/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.65 |
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Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
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.