|
Report No. : |
310520 |
|
Report Date : |
28.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAITO MEDICAL INDUSTRIES INC |
|
|
|
|
Registered Office : |
767-80 Hachisu Ohtawara City Tochigi-Pref 324-0244 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
April 1977 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufactures medical injection needles (95%), medical instruments,
other (--5%) |
|
|
|
|
No. of Employees : |
53 |
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 78.7 Million |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
SAITO MEDICAL
INDUSTRIES INC
REGD NAME: Saito Ika Kogyo KK
MAIN OFFICE: 767-80 Hachisu Ohtawara City Tochigi-Pref
324-0244 JAPAN
Tel:
0287-54-0546 Fax: 0787--3517
E-Mail address: (thru the URL)
ACTIVITIES: Mfg of medical injection needles, medical
instruments, other
BRANCHES: Nil
FACTORIES: At the caption address
OFFICERS: MASANORI MIKAMI, PRES
Hideki Okamoto,
dir
Haruo
Tsuruno, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 1,127 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 10 M
TREND UP WORTH Yen 963 M
STARTED 1977 EMPLOYES 53
COMMENT: MFR OF MEDICAL INJECTION NEEDLES, MEDICAL
INSTRUMENTS, ETC. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 78.7 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established on the basis of a division separated
from Air Water Inc (See REGISTRATION). This is a specialized mfr of medical injection
needles, medical instruments, other.
Clients include medical institutions, mfrs, wholesalers, other
The sales volume for Mar/2014 fiscal term amounted to Yen 1,127 million,
a 17% up from Yen 965 million in the previous term. The recurring profit was posted at Yen 91
million and the net profit at Yen 79 million, respectively, compared with Yen
63 million net profit a year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 95 million and the net profit at Yen 85 million, respectively, on a 3%
rise in turnover, to Yen 1,160 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit is estimated at Yen 78.7
million, on 30 days normal terms.
Date Registered: Apr 1977
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
80,000 shares
Issued:
20,000 shares
Sum: Yen 10 million
Major shareholders
(%): Air Water Inc* (100)
*.. Gas mfr, Osaka, founded 1929, listed Tokyo, Sapporo S/E’s, capital
Yen 32,263 million, sales Yen
641,256 million, operating profit Yen 35,076 million, recurring profit Yen
36,275 million, net profit Yen 19,219
million, total assets Yen 518,967 million, net worth Yen 206,902 million, employees 9,557, pres Yasuo
Imai
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
medical injection needles (95%), medical instruments, other (--5%)
Clients: [Mfrs, wholesalers]
Matsuoka Meditech, Kobayashi Corp, Japan Dispo Co, Unisys Corp, Nipro Medical
Ind, Nipro Corp, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Teshima Corp, Utsunomiya Kenmazai Co, Union Toishi, Mitsuwa Parts,
Nihon Disk, other
Payment record: No Complaints
Location: Business area in
Ohtawara City, Tochigi-Pref. Office
premises at the caption address are leased and maintained satisfactory.
Bank References:
Ashikaga Bank (Ohtawara)
Tochigi Bank (Ohtawara)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
1,160 |
1,127 |
965 |
1,054 |
|
Recur. Profit |
|
95 |
91 |
|
|
|
Net Profit |
|
85 |
79 |
63 |
-4 |
|
Total Assets |
|
|
963 |
N/A
|
N/A |
|
Current Assets |
|
|
548 |
526 |
|
|
Current Liabs |
|
|
663 |
920 |
|
|
Net Worth |
|
|
963 |
908 |
864 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.93 |
16.79 |
-8.44 |
9.79 |
|
Current Ratio |
|
.. |
82.65 |
57.17 |
.. |
|
N.Worth Ratio |
|
.. |
100.00 |
.. |
.. |
|
R.Profit/Sales |
|
8.19 |
8.07 |
.. |
.. |
|
N.Profit/Sales |
|
7.33 |
7.01 |
6.53 |
-0.38 |
|
Return On Equity |
|
.. |
8.20 |
6.94 |
-0.46 |
Notes: Financials are only partially disclosed for the Mar 2012 & 2013
fiscal terms.
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.79 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.69.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.