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Report Date : |
10.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
PANASONIC AGE-FREE SHOPS CO LTD |
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Registered Office : |
1048 Kadoma Kadoma City Osaka-Pref 571-0050 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
August 2000 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesales & leasing of nursing-care/rehabilitation
facilities & equipment |
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No. of Employees |
401 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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
|
Source
: CIA |
PANASONIC AGE-FREE SHOPS CO LTD
REGD NAME: Panasonic
Age Free Shops KK
MAIN OFFICE: 1048
Kadoma Kadoma City Osaka-Pref 571-0050 JAPAN
Tel:
06-6906-0865
URL: http://www.panasonic.co.jp/es/pesasp
E-Mail
address: (thru the URL)
Wholesale,
leasing of nursing-care/rehabilitation equipment & facilities
Agent
dealers (28 locations nationwide)
KATSUNORI
OKUDA, PRES Takasuke Saitoh, dir
Tetsuya
Sakaguchi, dir Koichi
Morita, dir
Minoru
Ikeuchi, dir Nobuhiro
Oguri, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 13,493 M
PAYMENTSNo
Complaints CAPITAL Yen 200 M
TREND UP WORTH Yen 405 M
STARTED 2000 EMPLOYES 401
WHOLESALER, LEASING OF REHABILITATION/NURSING-CARE
EQUIPMENT, WHOLLY OWNED BY
PANASONIC CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Panasonic Corp (See REGISTRATION) in order to go into nursing-care/rehabilitation
equipment business. The firm specializes
in wholesale and leasing of nursing-care/rehabilitation equipment &
facilities. Goods are sold and leased
thru agent dealers (franchisees) nationwide.
The sales
volume for Mar/2013 fiscal term amounted to Yen 13,493 million, an 8% up from
Yen 12,473 million in the previous term.
The net profit was posted at Yen 212 million, compared with Yen 280
million a year ago.
For the
term that ended 2014 the net profit was projected at Yen 230 million, on a 4%
rise in turnover, to Yen 14,000 million.
Final results are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Aug
2000
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
16,000 shares
Issued:
4,000 shares
Sum: Yen 200 million
Major shareholders
(%): Panasonic Corp* (100)
*..Largest comprehensive mfr of
AV & other home electric appliances, Osaka, founded 1935, listed Tokyo S/E, capital Yen 258,740
million, sales Yen 7,302,045 million, operating profit Yen 160,936 million,
recurring loss Yen 398,386 million, net loss Yen 754,250 million, total assets
Yen 5,476,547 million, net worth Yen 1,636,142 million, employees 285,317, pres
Kazuhiro Tsuga
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Wholesales & leasing of
nursing-care/rehabilitation facilities & equipment (--100%)
Clients: Franchisees, consumers, hospitals,
other
No. of
accounts: Unavailable
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Panasonic Corp,
Nikken Leasing, other
Payment record: No
Complaints
Location:
Business area in Kadoma City, Osaka.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
SMBC
(Osaka & Kadoma)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
14,000 |
13,493 |
12,473 |
12,059 |
|
Recur.
Profit |
|
|
|
537 |
327 |
|
Net
Profit |
|
230 |
212 |
280 |
176 |
|
Total
Assets |
|
|
3,035 |
3,272 |
2,612 |
|
Current
Assets |
|
|
1,241 |
2,887 |
2,215 |
|
Current
Liabs |
|
|
1,680 |
2,160 |
1,585 |
|
Net
Worth |
|
|
405 |
692 |
500 |
|
Capital,
Paid-Up |
|
|
200 |
200 |
200 |
|
Div.P.Share(¥) |
|
|
|
|
|
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.76 |
8.18 |
3.43 |
8.94 |
|
|
Current Ratio |
|
.. |
73.87 |
133.66 |
139.75 |
|
N.Worth Ratio |
.. |
13.34 |
21.15 |
19.14 |
|
|
R.Profit/Sales |
|
.. |
.. |
4.31 |
2.71 |
|
N.Profit/Sales |
1.64 |
1.57 |
2.24 |
1.46 |
|
|
Return On Equity |
.. |
52.35 |
40.46 |
35.20 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.