|
Report No. : |
335755 |
|
Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
PACIFIC MEDICO CO LTD |
|
|
|
|
Registered Office : |
Ochanomizu Wing Bldg 5F, 2-15-13 Hongo Bunkyoku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
May, 1985 |
|
|
|
|
Com. Reg. No.: |
0100-01-006396 (Tokyo-Bunkyoku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import and Wholesale of Medical Equipment. |
|
|
|
|
No. of Employees : |
65 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times
since 2008. 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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 2014 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. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
PACIFIC MEDICO CO LTD
REGD NAME: Pacific
Medico KK
MAIN OFFICE: Ochanomizu
Wing Bldg 5F, 2-15-13 Hongo Bunkyoku Tokyo 113-0033 JAPAN
Tel: 03-3818-0571 Fax: 03-3818-0572
URL: http://www.pacific-medico.com
E-Mail address: (thru the URL)
Import, wholesale
of medical equipment
Hongo (divisions)
HIDETOSHI
TSUBAKIYAMA, PRES
Haruhito
Hatsukano, v ch Toshiharu
Katahira, rep dir
Shuichi Mita, s/mgn
dir
Yen Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 1,616 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 50 M
TREND SLOW WORTH Yen 4,435 M
STARTED 1985 EMPLOYES 65
TRADING FIRM SPECIALIZING IN MEDICAL APPARATUS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
This is a trading
firm for import and wholesale of medical apparatus & supplies. Operations
divisions are: Ventilator product department and respiratory care product dept. Imports from USA, Germany, Taiwan, China,
other.
The sales volume
for Mar/2014 fiscal term amounted to Yen 1,616 million, a 27% up on a 12-month basis
from Yen 2,538 million, due to the change in accounting term from Oct/Sept from
Apr/Mar 2014 fiscal term. The recurring
profit was posted at Yen 340 million and the net profit at Yen 334 million,
respectively, compared with Yen 669 million recurring profit and Yen 425
million net profit, respectively, a year ago.
For the term that
ended Mar/2015 the recurring profit was projected at Yen 1700 million and the
net profit at Yen 500 million, respectively, on a 5% rise in turnover (on
12-month basis), to Yen 3,395 million.
Final results are yet to be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: May 1985
Regd No.:
0100-01-006396
(Tokyo-Bunkyoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 760,000
shares
Issued: 190,000
shares
Sum: Yen
95 million
Major
shareholders (%): Taiyo Nissan Sanso Corp: (19)
*.. Mfr of gases, Tokyo, capital Yen 37,300 million, sales Yen 559,373
million, recurring profit Yen 34.282
million, net profit Yen 20,764 million, net worse Yen 341,207 million, employees 1,250, pres Yujiro Ichihara
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales ventilator products, respiratory care products, others (100%).
(Handling
Items):
Ventilator
Products: LTV ventilator, humidifier heater base, humidification chamber, remote
wireless monitoring system, manual resuscitator;
Respiratory
Care Products: Suction units, nebulizer, oral care, pulse oximeter, sleep diagnostic
device, other.
Clients: [Mfrs,
wholesalers] Philips Respironics GK, Fukuda Denshi, Omron Colin Co, Sanei
Vitals, Pacific Electronics, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from Germany, USA, China, Taiwan, other. Domestically: Philips Respironics GK, Pacific
Denshi Co, Fukuda Denshi, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Kasugacho)
Mizuho Bank
(Hongo)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
30/09/2013 |
30/09/2012 |
|
|
Annual
Sales |
|
3,395 |
1,616 |
2,538 |
3,690 |
|
Recur.
Profit |
|
700 |
340 |
669 |
|
|
Net
Profit |
|
500 |
334 |
425 |
587 |
|
Total
Assets |
|
|
4,866 |
4,507 |
4,301 |
|
Current
Assets |
|
|
4,470 |
4,151 |
|
|
Current
Liabs |
|
|
406 |
283 |
|
|
Net
Worth |
|
|
4,435 |
4,115 |
3,708 |
|
Capital,
Paid-Up |
|
|
95 |
95 |
95 |
|
Div.Ttl
in Million (¥) |
|
|
9.5 |
0.00 |
5 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.07 |
27.30 |
-31.22 |
6.68 |
|
Current Ratio |
|
.. |
1,100.99 |
1,466.78 |
.. |
|
N.Worth Ratio |
|
.. |
91.14 |
91.30 |
86.21 |
|
R.Profit/Sales |
|
20.62 |
21.04 |
26.36 |
.. |
|
N.Profit/Sales |
|
14.73 |
20.67 |
16.75 |
15.91 |
|
Return On Equity |
|
.. |
7.53 |
10.33 |
15.83 |
Notes: Financial terms
changed to Apr/Mar in 2014 from Oct/Sept prior the term. Growth rates are adjusted on a regular 12-months basis
Forecast (or
estimated) figures for the 30/09/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.82 |
|
|
1 |
Rs.99.15 |
|
Euro |
1 |
Rs.69.31 |
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.