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Report Date : |
21.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
FUJIREBIO INC |
|
|
|
|
Registered Office : |
Shinjuku Mitsui Bldg, 2-1-1 Nishishinjuku Shinjukuku Tokyo 163-0410 |
|
|
|
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Country : |
Japan |
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|
|
|
Financials (as on) : |
31.03.2014 |
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|
|
|
Date of Incorporation : |
July, 2005 |
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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 Medical Instruments
(Clinical Diagnostics, Reagents) |
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|
|
|
No. of Employees : |
577 |
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 Limits : |
YEN 1,115.0 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 |
FUJIREBIO INC
REGD NAME: Fujirebio
KK
MAIN OFFICE: Shinjuku
Mitsui Bldg, 2-1-1 Nishishinjuku Shinjukuku Tokyo 163-0410 JAPAN
Tel: 03-6279-0800 Fax: 03-6279-0854
URL: http://www.fujirebio.co.jp
E-Mail address: p-data@fujirebio.co.jp
Mfg of medical
instruments (clinical diagnostics, reagents)
Tokyo, Sapporo,
other (Tot 17)
Shanghai
China, other
(--subcontracted)
TAKESHI KOYAMA,
PRES Yoshihiro Ashihara, s/mgn dir
Hiromasa Suzuki,
ch Tadashi Ninomiya, dir
Naoyoshi Kubota,
dir Akira Suenaga, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 26,268 M
PAYMENTSREGULAR CAPITAL Yen
4,252 M
TREND UP WORTH Yen 30,852 M
STARTED 2005 EMPLOYES 577
MFR OF MEDICAL INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 1,115.0 MILLION, ON 30 DAYS
NORMAL TERMS.
The subject company is a special maker of medical instruments for
clinical diagnostics, reagents, other.
Mfg is consigned to subsidiaries, overseas makers, other. The firm formed a Holding Company, Miraka
Holdings Inc, and became its wholly owned subsidiary.
The sales volume
for Mar/2014 fiscal term amounted to Yen 26,268 million, a 3% up from Yen
25,519 million in the previous term. The
recurring profit was posted at Yen 7,383 million and the net profit at Yen
5,861 million, respectively, compared with Yen 7,179 million recurring profit
and Yen 5,347 million net profit, respectively, a year ago.
For the current
term ending Mar 2015 the recurring profit is projected at Yen 7,500 million and
the net profit at Yen 6,000 million, respectively, on a 5% rise in turnover, to
Yen 27,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 1,115.0 million, on 30 days normal terms.
Date Registered: Jul 2005
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 340,232
shares
Issued: 85,058
shares
Sum: Yen
4,252 million
Major
shareholders (%): Miraka Holdings Inc* (100)
*..
Holding
Company
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
clinical diagnostics reagents, medical equipment, other (--100%)
Clients: Hospitals,
medical institutions, laboratories, universities, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: Mfrs,
wholesalers, other
Imports from China (Factory)
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Mizuho Bank (Shinjuku Fukutoshin)
MUFG (Shinjuku)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
27,500 |
26,268 |
25,519 |
25,461 |
|
Recur.
Profit |
|
7,500 |
7,383 |
7,179 |
6,967 |
|
Net
Profit |
|
6,000 |
5,861 |
5,347 |
5,035 |
|
Total
Assets |
|
|
44,389 |
44,506 |
45,163 |
|
Current
Assets |
|
|
18,013 |
18,043 |
18,538 |
|
Current
Liabs |
|
|
9,714 |
8,808 |
8,640 |
|
Net
Worth |
|
|
30,852 |
29,416 |
27,714 |
|
Capital,
Paid-Up |
|
|
4,252 |
4,252 |
4,252 |
|
Div.Ttl
in Million (¥) |
|
|
4,679 |
4,356 |
2,324 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.69 |
2.94 |
0.23 |
4.71 |
|
Current Ratio |
|
.. |
185.43 |
204.85 |
214.56 |
|
N.Worth Ratio |
|
.. |
69.50 |
66.09 |
61.36 |
|
R.Profit/Sales |
|
27.27 |
28.11 |
28.13 |
27.36 |
|
N.Profit/Sales |
|
21.82 |
22.31 |
20.95 |
19.78 |
|
Return On Equity |
|
.. |
19.00 |
18.18 |
18.17 |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.83 |
|
|
1 |
Rs.96.56 |
|
Euro |
1 |
Rs.77.42 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.