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Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
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Name : |
MEIJI SEIKA PHARMA CO LTD |
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Registered Office : |
2-4-16 Kyobashi Chuoku Tokyo 104-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
October 1916 |
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Com. Reg. No.: |
(Tokyo-Chuoku) 008333 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of
confectionery, foods, chemicals, pharmaceuticals |
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No. of Employees |
1,035 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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
|
Source
: CIA |
MEIJI SEIKA PHARMA CO LTD
REGD NAME: Meiji
Seika Pharma KK
MAIN OFFICE: 2-4-16
Kyobashi Chuoku Tokyo 104-0031 JAPAN
Tel:
033272-6511 Fax: 03-3271-3529
URL: http://www.meijiseika-pharma.co.jp/
E-mail: (thru
the URL)
Mfg of
confectionery, foods, chemicals, pharmaceuticals
Nationwide
(30 locations)
Kitagami,
Odawara, Gifu
Singapore,
other (Tot 3)
MASAHIKO
MATSUO, PRES Ryuzo Asada, dir
Yasushi
Murai, dir Daikichiro
Kobayashi, dir
Taro
Nomo, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 113,228 M
PAYMENTS REGULAR CAPITAL Yen 28,363 M
TREND STEADY WORTH Yen
79,338 M
STARTED 1916 EMPLOYES 1,035
MFR OF
CONFECTIONERY & PHARMACEUTICALS, WHOLLY OWNED BY
MEIJI
HOLDINGS CO LTD
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
This is a
pharmaceuticals mfr such as antibiotics and central nervous system drugs being
second mainline. Top-ranked chocolate
mfr. Aggressive toward overseas operations
and has JVs for confectionery & pharmaceuticals in many countries. In Apr 2009, established a joint holding
company, Meiji Holdings Co Ltd (See REGISTRATION),
jointly with Meiji Dairies Corporation and became its wholly owned consolidated
subsidiary, and was delisted from Tokyo S/E.
In Apr 2011, the firm split into two entities: Meiji Seika Pharma Co Ltd
and Meiji Co Ltd. The subject
transferred confectionery operations to Meiji Seika Co in Apr 2013 and will
focus on mfg pharmaceuticals, agrochemicals, other.
The sales
volume for Mar/2013 fiscal term amounted to Yen 113,228 million, a 2% up from
Yen 111,200 million in the previous term.
Anticancer drugs were in good demand.
The recurring profit was posted at Yen 7,347 million and the net profit
at Yen 4,882 million, respectively, compared with Yen 8,740 million recurring
profit and Yen 4,683 million net profit, respectively, a year ago.
For
the term that ended Mar 2014 the recurring profit was projected at Yen 7,400
million and the net profit at Yen 4,900 million, respectively, on a 5% rise in
turnover, to Yen 118,500 million. Final
results are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Oct 1916
Regd No.: (Tokyo-Chuoku) 008333
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 796,104,000 shares
Issued: 379,072,000 shares
Sum: Yen
28,363 million
Major shareholders (%): Meiji
Holdings Co Ltd* (100)
*.. Joint Holding Company, set
up in Apr 2009 jointly with Meiji Dairies Corporation, capital Yen 30,000
million, listed Tokyo S/E, sales Yen 1,148,076 million, operating profit Yen
36,496 million, recurring profit Yen 39,089 million, net profit Yen 19,080
million, total assets Yen 779,461 million, net worth Yen 328,121 million,
employees 14,819, pres Shigetaro Asano
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Manufactures confectionery &
health care/foods, pharmaceuticals (antibiotics, central nervous system drugs,
agricultural chemicals, veterinary drugs, other) other (--100%)
Clients: [Mfrs, wholesalers] Marubeni Corp,
Paltac, Alfresa, Tanpei Nakata, Medival Holdings, Matsuo Seika, Itochu Corp,
other
No. of accounts: 1,000
Domestic
areas of activities: Nationwide
Suppliers [Mfrs, wholesalers] Otsuka Chemical,
Proctor & Gamble Far East Inc, Fuji Oil, Meiji Seika Singapore, Mitsui
& Co, Cargill Japan, Mizuho Factor, other
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho
Bank (Kyobashi)
MUFG
(Kyobashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
118,500 |
113,228 |
111,200 |
306,076 |
|
Recur.
Profit |
|
7,400 |
7,347 |
8,740 |
10,553 |
|
Net Profit |
|
4,900 |
4,882 |
4,683 |
4,459 |
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Total
Assets |
|
|
134,824 |
122,018 |
307,754 |
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Current
Assets |
|
|
79,818 |
69,733 |
135,828 |
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Current
Liabs |
|
|
36,900 |
35,221 |
104,382 |
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Net
Worth |
|
|
79,338 |
75,488 |
135,077 |
|
Capital,
Paid-Up |
|
|
28,363 |
28,363 |
28,363 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.66 |
1.82 |
-63.67 |
1.02 |
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Current Ratio |
|
.. |
216.31 |
197.99 |
130.13 |
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N.Worth Ratio |
.. |
58.85 |
61.87 |
43.89 |
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R.Profit/Sales |
|
6.24 |
6.49 |
7.86 |
3.45 |
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N.Profit/Sales |
4.14 |
4.31 |
4.21 |
1.46 |
|
|
Return On Equity |
.. |
6.15 |
6.20 |
3.30 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.87 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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.