|
Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
NIPRO PHARMA CORPORATION |
|
|
|
|
Registered Office : |
2-2-7 Doshomachi Chuoku Osaka 541-0045 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
July, 1950 |
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|
|
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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|
|
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Line of Business : |
Manufacturer of Pharmaceuticals. |
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|
|
|
No. of Employees : |
1,990 |
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 |
|
Maximum Credit Limit : |
YEN 1,443.4 MILLION |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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. 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 |
NIPRO PHARMA CORPORATION
REGD NAME: Nipro
Pharma KK
MAIN OFFICE: 2-2-7
Doshomachi Chuoku Osaka 541-0045 JAPAN
Tel:
06-6231-9845 Fax: 06-6231-9848
URL: http://www.np.nipro-pharma.co.jp
E-Mail address: (thru
the URL)
Mfg of
pharmaceuticals
Tokyo, Osaka,
other
China, Vietbnam
Odate, Kasukabe,
Shirokita, Ise, Vietnam, other
KENJI KOMORI, PRES Makoto Satoh, ch
Satoshi Kawamura,
mgn dir Kenta Miyazaki, mgn dir
Kazuya Shinozawa,
dir Kazuto Sakamoto, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 49,556 M
PAYMENTSREGULAR CAPITAL Yen
8,669 M
TREND UP WORTH Yen 40,164 M
STARTED 1950 EMPLOYES 1,990
MFR OF PHARMACEUTICALS, OWNED BY NIPRO CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 1,443.4 MILLION, ON 30 DAYS NORMAL TERMS.
This is a
specialized mfr of pharmaceuticals, owned by Nipro Corporation (See REGISTRATION). 75% of the products are supplied to the
parent, others to pharmaceuticals makers, other.
The sales volume for
Mar/2014 fiscal term amounted to Yen 49,556 million, a 6% up from Yen 46,638
million in the previous term. The
recurring profit was posted at Yen 4,642 million and the net profit at Yen
6,415 million, respectively, compared with Yen 1,597 million recurring profit
and Yen 1,035 million net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 4,700 million and the net profit at Yen 4,500 million, respectively, on
a 6% rise in turnover, to Yen 52,500 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,443.4
million, on 30 days normal terms.
Date Registered: Jul 1950
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 693,557 shares
Issued 173,389 shares
Sum: Yen 8,669 million
Major shareholders (%): Nipro Corp*
(98.6), Medical Holdings, other
No. of shareholders: 5
*.. Major maker of disposable medical
equipment, Osaka, founded 1954, capital Yen 84,397 million, sales Yen 300,752
million, recurring profit Yen 12,289 million, recurring profit Yen 11,918
million, net profit Yen 2,861 million, total assets Yen 605,607 million, net
worth Yen 124,475 million, employees 21,066, pres Yoshihiko Sano
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
pharmaceuticals, reagents, other (--100%)
Clients: [Mfrs,
wholesalers] Nipro Corp (75%), Toyama Chemical, Mitsubishi Tanabe Pharma,
other
No. of accounts: 350
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Nipro Corp (25%), Astellas Pharma Inc, Nippon Alcohol Sales,
Kewpie Corp, other
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactory.
Bank References:
Mizuho Bank (Osaka)
Resona Bank (Osaka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
52,500 |
49,556 |
46,638 |
42,545 |
|
Recur.
Profit |
|
4,700 |
4,642 |
1,597 |
|
|
Net
Profit |
|
4,500 |
6,415 |
1,035 |
729 |
|
Total
Assets |
|
|
105,980 |
100,132 |
73,657 |
|
Current
Assets |
|
|
42,686 |
39,605 |
|
|
Current
Liabs |
|
|
50,981 |
44,521 |
|
|
Net
Worth |
|
|
40,164 |
33,815 |
13,492 |
|
Capital,
Paid-Up |
|
|
8,669 |
8,669 |
8,669 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.94 |
6.26 |
9.62 |
12.63 |
|
Current Ratio |
|
.. |
83.73 |
88.96 |
.. |
|
N.Worth Ratio |
|
.. |
37.90 |
33.77 |
18.32 |
|
R.Profit/Sales |
|
8.95 |
9.37 |
3.42 |
.. |
|
N.Profit/Sales |
|
8.57 |
12.94 |
2.22 |
1.71 |
|
Return On Equity |
|
.. |
15.97 |
3.06 |
5.40 |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
|
|
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.