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Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
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Name : |
RIGAKU CORPORATION |
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Registered Office : |
3-9-12 Matsubaracho Akishima Tokyo-Metrop
196-8666 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
December 1951 |
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Com. Reg. No.: |
0128-01-002680
(Tokyo-Akishima) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of analytical X-ray systems such as X-ray diffraction
(XRD), X-ray fluorescence, single crystal X-ray diffraction, small angle X-ray
scattering, analytical/research instruments : automation robotics, vacuum
feed through components |
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No. of Employees : |
1,153 |
RATING & COMMENTS
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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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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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 |
RIGAKU CORPORATION
KK Rigaku
3-9-12 Matsubaracho
Akishima Tokyo-Metrop 196-8666 JAPAN
Tel:
042-545-8111 Fax: 042-544-9795
URL: http//:www.rigaku.co.jp
E-mail: (thru the URL)
Mfg of
X-ray systems, analytical instruments, other
Osaka,
Nagoya, Sendai, Yamanashi, other.
USA (4), Europe (3), China (3) (--subsidiaries)
At the
caption address, Osaka, Yamanashi
USA
(4), UK, Czech, Germany, China
AKIRA
SHIMURA, PRES Shojiro Asai, v
pres
Yoshiaki
Watanabe, dir Yoichi
Yokomizo, dir
Keiji
Suzuki, dir Isao
Matsumoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 31,338 M
PAYMENTS No
Complaints CAPITAL Yen 100 M
TREND UP WORTH Yen 26,538 M
STARTED 1951 EMPLOYES 1,153
MFR OF
X-RAY SYSTEMS, OTHER SCIENTIFIC INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established originally in 1923 by a certain Shimura
and has been succeeded by the present executives. This is a leading mfr of analytical X-ray
systems for elemental analysis, materials, research and structural
investigations, commanding about 70% market share in this field. Mfg products include: automation &
robotics, evolved gas analysis, software, thermal analysis, vacuum feed
through, other. Has overseas
subsidiaries in USA (4), Europe (3) and China (3), and domestically 5
subsidiaries. .
The sales volume for Mar/2013 fiscal term amounted to Yen 31,338
million, a 0.6% up from Yen 31,161 million in the previous term. The recurring profit was posted at Yen 2,693
million and the net profit at Yen 1,601 million, respectively, compared with
Yen 2,735 million recurring profit and Yen 1,313 million net profit,
respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 2,700 million and the net profit at Yen 1,650 million, respectively, on
a 5% rise in turnover, to Yen 33,000 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Dec 1951
Regd No.: 0128-01-002680 (Tokyo-Akishima)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4
million shares
Issued: 1.01 million shares
Sum: Yen 100 million
Major shareholders (%): Founder’s family S/Holding
Assn (34), KK Asuka (29), Akira Shimura (22), Takane Shimura (9), Employees’
S/Holding Assn (6), other
No. of shareholders: 5
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Manufactures
analytical X-ray systems: X-ray diffraction (XRD), X-ray fluorescence, single
crystal X-ray diffraction, small angle X-ray scattering, other (--94%);
analytical/research instruments: automation robotics, vacuum feed through
components, other (6%).
Overseas Sales
Ratio (40%)
Clients: [Mfrs,
wholesalers] Rigaku, Rigaku MSC, Rigaku Electric Ind, other
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Rigaku Yamanashi, Materials Data, Toshiba Medical Supply Co, Nap
Ltd, Origin Electric Co, San-Eon Giken Co, ORIX Rentec Corp, Rigaku
Mechatronics Corp, other
Payment record: No
Complaints
Location: Business area in
Akishima City, Tokyo-Metrop. Office
premises at the caption address are owned and maintained satisfactorily.
Bank
References:
Mizuho Bank (Marunouchi)
MUFG (Mitaka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
33,000 |
31,338 |
31,161 |
30,508 |
|
Recur.
Profit |
|
2,700 |
2,693 |
2,735 |
2,786 |
|
Net
Profit |
|
1,650 |
1,601 |
1,313 |
1,371 |
|
Total
Assets |
|
|
37,233 |
38,437 |
38,439 |
|
Current
Assets |
|
|
|
30,295 |
29,310 |
|
Current
Liabs |
|
|
|
11,101 |
11,200 |
|
Net
Worth |
|
|
26,538 |
25,418 |
24,531 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
60.00 |
60.00 |
50.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.30 |
0.57 |
2.14 |
14.78 |
|
|
Current Ratio |
|
.. |
.. |
272.90 |
261.70 |
|
N.Worth Ratio |
.. |
71.28 |
66.13 |
63.82 |
|
|
R.Profit/Sales |
|
8.18 |
8.59 |
8.78 |
9.13 |
|
N.Profit/Sales |
5.00 |
5.11 |
4.21 |
4.49 |
|
|
Return On Equity |
.. |
6.03 |
5.17 |
5.59 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
UK Pound |
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.33 |
INFORMATION DETAILS
|
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 |
|
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 |
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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 |
|
-- |
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.