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Report Date : |
08.10.2014 |
IDENTIFICATION DETAILS
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Name : |
M&S INSTRUMENTS INC |
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Registered Office : |
2-12-4 Mikuni-Honmachi Yodogawaku Osaka 532-0005 |
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Country : |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
Feb., 1966 |
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Com. Reg. No.: |
1200-01-054191 (Osaka-Yodogawaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export and Wholesale
of Scientific & Analytical Instruments |
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No. of Employees : |
95 |
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 : |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
M&S INSTRUMENTS INC
REGD NAME: M.
S. Kiki KK
MAIN OFFICE: 2-12-4
Mikuni-Honmachi Yodogawaku
Tel:
06-6396-0501 Fax: 06-6396-2588
URL: http://www.technosaurus.co.jp
E-Mail address: (thru the URL)
Import,
export, wholesale of scientific & analytical instruments
Tokyo,
Fukuoka
HIROYUKI
SAKANISHI, PRES
Hiroto
Kotaniguchi, mgn dir
Hiroharu
Kanamori, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen
2,808 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 96
M
TREND SLOW WORTH Yen 2,550 M
STARTED 1966 EMPLOYES 95
TRADING FIRM SPECIALIZING IN SCIENTIFIC INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The
subject company was established by Hiroyuki Sakanishi in order to make most of
his experience in
the subject line of business. This is a trading firm specializing for
import, export and wholesale of scientific & analytical instruments. Goods
are imported from mainly USA, and Germany, France, other. Clients include universities,
laboratories, biotechnology firms, pharmaceuticals, other, nationwide.
Financial
are only partially disclosed as from the 30/09/2012 fiscal term.
The sales
volume for Sept/2013 fiscal term amounted to Yen 2,808 million, a 6% down from
Yen 2,987 million in the previous term.
The net profit was posted at Yen 169 million, compared with Yen 231
million a year ago.
For
the term that ended Sept 2014 the net profit was projected at Yen 175 million,
on a 6% rise in turnover, to Yen 2,950 million.
The weaker Yen may have raised earnings in Yen terms. Final results are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements
Date Registered: Feb
1966
Regd No.: 1200-01-054191
(Osaka-Yodogawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 700,000 shares
Issued:
192,000 shares
Sum: Yen
96 million
Major shareholders (%): MS Techno Systems* (30),
Employees’ S/Holding Assn (29),
Executives’ S/Holding Assn (24)
*.. Subsidiary trading firm
specializing in life scientific equipment, owned by Hiroyuki Sakanishi
No. of shareholders: 8
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales
scientific & analytical instruments (--100%)
The firm sells and supports a broad line of products
mainly for biotechnology and pharmaceutical R&D, including genomics,
proteomics, and drug discovery.
Clients: [Mfrs, wholesalers] Ikeda Scientific
Co, Ikemoto Scientific Technology Co, Rikaken Co, Wakamori Shokai Co, Wakenyaku
Co, Biotech Lab Inc, M S Techno Systems, Suntory Holdings Ltd, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Gilson Inc, Neslab
System, Covaris Inc, Circular Technology Limited, Li-CORE Bioscience,
Scientific Industries Inc, other
Payment record: No Complaints
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Tenroku)
Mizuho Bank (Esaka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
|
Annual
Sales |
|
2,950 |
2,808 |
2,987 |
2,790 |
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Recur.
Profit |
|
.. |
.. |
.. |
306 |
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Net
Profit |
|
175 |
169 |
231 |
174 |
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Total
Assets |
|
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N/A |
N/A |
2,687 |
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Net Worth |
|
|
2,550 |
2,432 |
2,271 |
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Capital,
Paid-Up |
|
|
96 |
96 |
96 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.06 |
-5.99 |
7.06 |
1.71 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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|
.. |
.. |
84.52 |
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N.Profit/Sales |
|
5.93 |
6.02 |
7.73 |
6.24 |
Notes:
Financials are only partially disclosed as from the 30/09/2012 fiscal term.
Forecast
(or estimated) figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.36 |
|
|
1 |
Rs.98.71 |
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Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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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.