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Report Date : |
09.10.2014 |
IDENTIFICATION DETAILS
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Name : |
ROBERT REID I NC |
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Registered Office : |
Koishikawa 4-chome Bldg 1F, 4-22-2 Koishikawa Bunkyoku Tokyo 112-0002 |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
September 1953 |
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Com. Reg. No.: |
0115-01-005046 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports and wholesales orthopedic surgical products/ equipment/
supplies, other medical instruments (--100%) |
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No of Employees : |
54 |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 |
ROBERT REID I NC
KK Robert Reid Shokai
Koishikawa 4-chome Bldg 1F, 4-22-2 Koishikawa Bunkyoku Tokyo 112-0002
Japan
Tel: 03-3830-7373
Fax: 03-3830-7376
*.. Registered at: 1-27-3 Nishigahara Kitaku Tokyo
URL: http://www.robert-reid.co.jp
E-Mail address: (thru the URL)
ACTIVITIES: Imports, wholesales orthopedic surgical
devices
BRANCHES: Itabashi
OFFICERS: HIDEO SHITOTO, PRES
Yoichi Shitoto,
dir
Katsuo
Shitoto, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 1,240 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 64 M
TREND UP WORTH Yen 3,454 M
STARTED 1953 EMPLOYES 54
COMMENT: TRADING
FIRM SPECIALAIZING IN ORTHOPETIC SURGICAL PRODUCTS. FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company is an old-established firm dating back to 1917 when
the Reid family, USA, exporter of medical instruments since 1894 started “Reid
& Brothers Inc” in Tokyo. After the
end of World War II, reorganized in 1953 by K Hashimoto as agent for Zimmer,
USA for importing its orthopedic instruments, and renamed as captioned. The firm was in 1973 succeeded by the present
executives. This is a trading firm for
importing orthopedic surgical devices, supplies, other. Goods imported from USA & Europe. Clients include medical institutions,
hospitals, universities, other.
Financials are only partially disclosed, with profits undisclosed.
The sales volume for Mar/2014 fiscal term amounted to Yen 1,240 million,
a 13% rise from Yen 1,095 million in the previous term. Demand for medical equipment rose amid the
increasing aging people in Japan. The
weaker Yen also contributed to raise earnings in Yen terms. The net profit is estimated posted at Yen 135
million, compared with Yen 120 million a year ago.
For the current term ending Mar 2015 the net profit is projected at Yen
140 million, on a 5% rise in turnover, to Yen 1,300 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Sept
1953
Regd No.: 0115-01-005046
(Tokyo-Kitaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 519,920 shares
Issued:
129,980 shares
Sum: Yen 64.99 million
Major shareholders
(%): Hideo Shitoto & families (--100)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales orthopedic surgical products/ equipment/ supplies, other medical
instruments (--100%)
Clients: [Mfrs,
wholesalers] Mutou Group, Takeyama, Kawanishi Holding Inc, Masuda Medical Instruments,
Konishi Medical Instruments, Nikko Ika Kikai (Ika Kikai means Medical
Instruments), other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Consensus Orthopedics Inc, Tech Industries, IMDS, Adler Inc, Comed
Medical, Osteomed Corporation, Small Bone Inn, Millenium Medical, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Ikebukuro-Nishiguchi)
Mizuho Bank (Komagome)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
Annual Sales |
|
1,300 |
1,240 |
1,095 |
953 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
140 |
135 |
120 |
90 |
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Total Assets |
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|
N/A |
N/A |
N/A |
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Net Worth |
|
|
3,454 |
3,360 |
3,240 |
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Capital, Paid-Up |
|
|
64 |
64 |
64 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.84 |
13.24 |
14.90 |
5.77 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
10.77 |
10.89 |
10.96 |
9.44 |
Notes: Financials are only partially disclosed. Profits are not precisely disclosed and
estimated only.
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
<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.