MIRA INFORM REPORT
|
Report No. : |
333420 |
|
Report Date : |
22.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
OTTO BOCK JAPAN INC |
|
|
|
|
Registered Office : |
Yokogawa Bldg 8F. 4-4-44 Shibaura Minatoku Tokyo 108-0023 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
Jan., 1999 |
|
|
|
|
Com. Reg. No.: |
0104-01-036940 (Tokyo-Minatoku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import and Wholesale of Rehabilitation Equipment, Artificial Limb,
Wheel Chair, Other |
|
|
|
|
No. of Employees : |
40 |
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 39.6 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 – 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 |
Company
Name and address
OTTO BOCK JAPAN INC
REGD NAME: Otto
Bock Japan KK
MAIN OFFICE: Yokogawa
Bldg 8F. 4-4-44 Shibaura Minatoku Tokyo 108-0023 JAPAN
Tel: 03-3798-2111 Fax: 03-3798-2112
URL: http://www.ottobock.co.jp
E-Mail address: (thru the URL)
ACTIVITIES
Import, wholesale of
rehabilitation equipment, artificial limb, wheel chair, other
BRANCHES
Nil
OVERSEAS
Germany (the
parent)
OFFICERS
YOSHIAKI WATANABE,
PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,650 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 60 M
TREND STEADY WORTH Yen 585 M
STARTED 1999 EMPLOYES 40
COMMENT
TRADING FIRM SPECIALIZING IN REHABILITATION EQUIPMENT, OWNED BY GERMAN CAPITAL.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 39.6 MILLION, ON 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject
company was established by Otto Bock Healthcare GmbH (Germany) as its marketing arm in Japan. This is a trading firm
for import and wholesale of rehabilitation outfit, artificial limbs, artificial
arms, wheel chair, and other
outfits. Goods are all imported from the German parent and its Group firms.
FINANCIAL
INFORMATION
Financials are
consolidated by the German Parent and only partially disclosed.
The sales volume
for Dec/2014 fiscal term amounted to Yen 1,650 million, a 4% up from Yen 1,600
million in the previous term. The net
profit was posted at Yen 60 million, compared with Yen 57 million a year ago.
For the current
term ending Dec 2015 the net profit is projected at Yen 65 million, on a 4%
rise in turnover, to Yen 1,700 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 39.6
million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 1999
Regd No.:
0104-01-036940
(Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,200 shares
Issued: 1,200 shares
Sum: Yen 60 million
Major
shareholders (%): Otto Bock Healthcare GmbH (100)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales rehabilitation outfits: artificial limbs, artificial arms, wheel
chairs, and other outfits (--100%)
Clients: [Mfrs,
wholesalers] Obara Kogyo, Nintoku Corp, Shinsho Shokai, Matsunaga Shoji,
other
No. of accounts: 150
Domestic areas of activities: Centered in
the greater-Tokyo
Suppliers: [Mfrs, wholesalers]
Imports from Otto Bock Healthcare GmbH and its Group firms
Payment
record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References:
MUFG (Hiroo)
Mizuho Bank (Shiba)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
|
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
Annual
Sales |
|
1,700 |
1,650 |
1,600 |
1,520 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
65 |
60 |
57 |
55 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
585 |
525 |
468 |
|
Capital,
Paid-Up |
|
|
60 |
60 |
60 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.03 |
3.13 |
5.26 |
8.57 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
3.82 |
3.64 |
3.56 |
3.62 |
Notes: Financials are only partially disclosed.
Forecast (or
estimated) figures for the 31/12/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.65 |
|
|
1 |
Rs.99.14 |
|
Euro |
1 |
Rs.68.91 |
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.