MIRA INFORM REPORT
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Report No. : |
322411 |
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Report Date : |
13.05.2015 |
IDENTIFICATION DETAILS
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Name : |
INTUITIVE SURGICAL GK |
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Registered Office : |
Ark Mori Bldg 32F, 1-12-32 Akasaka Minatoku Tokyo 107-0052 |
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Country : |
Japan |
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Date of Incorporation : |
May 2010 |
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Com. Reg. No.: |
0104-01-098522 |
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Legal Form : |
Limited Liability Company (Godo Kaisha) |
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Line of Business : |
Imports and wholesales surgical robots (da Vinci) |
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No. of Employee : |
80 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become 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 inefficientINVESTMENT
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. 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. A sales tax increase caused
the economy to contract during the 2nd and 3rd quarters of 2014. The economy
has largely recovered in the three years since the disaster, but reconstruction
in the Tohoku region has been uneven due to labor shortages. 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 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. The government will continue a
longstanding debate on restructuring the economy and reining in Japan's huge
government debt, which amounts to more than 240% 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 2015, although the government
in 2014 decided to postpone the final phase of the increase until 2017 to give
the economy time to recover from the 2014 increase. 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.
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Source
: CIA |
NOTE
In absence of financials, no credit limit could be recommended.
Company
name and address
INTUITIVE SURGICAL GK
REGD NAME: Intuitive
Surgical GK
MAIN OFFICE: Ark
Mori Bldg 32F, 1-12-32 Akasaka Minatoku Tokyo 107-0052 JAPAN
Tel:
03-5575-1341 Fax: 03-5575-1341
URL: http://www.intuitivesurgical.com
E-Mail address: (thru the URL)
ACTIVITIES
Import, wholesale
of surgical robot (da Vinci)
BRANCHES
Nil
OVERSEAS
California (USA
parent)
OFFICERS
SALR INTUITIVE
SURGICAL, PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES NOT DISCLOSED
PAYMENTSUNKNOWN CAPITAL Yen 3 M
TREND STEADY WORTH Yen 5 M*
STARTED 2010 EMPLOYES 80
*.. Only disclosed
figures for Dec/2011 fiscal term
COMMENT
TRADING FIRM SPECIALIZING IN SURGICAL
ROBOTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: UNABLE TO BE ASSESSED DUE TO THE NON AVAILABILITY OF
SALES FIGURES, WHICH THE FIRM
DOES NOT DISCLOSE.
HIGHLIGHTS
This is a trading firm, established and
owned by Intuitive Surgical SARL, California, USA, for import and wholesale of
surgical robots (da Vinci). Goods are
imported from USA. Clients include
hospitals, universities, other.
FINANCIAL
INFORMATION
Financials are not disclosed. The only figures disclosed are for Dec/2011
fiscal term: Total assets Yen 124 million, current assets Yen 113 million, current
liabilities Yen 119 million, net worth Yen 5 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is unable to be assessed due to the non-availability of
sales figures, which the firm does not disclose.
REGISTRATION
Date Registered: May 2010
Regd No.:
0104-01-098522
Legal Status: Limited Liability Company (Godo Kaisha)
Authorized: 240 shares
Issued: 60
shares
Sum: Yen 3 million
Major shareholders (%): Intuitive
Surgical SALR (100)
Nothing detrimental is known as to his
commercial morality.
OPERATION
Activities: Imports and wholesales surgical robots (da
Vinci), other (--100%)
Clients: [Hospitals,
medical institutions] Adachi Co, other
No. of accounts:
100
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Intuitive Surgical SALR
Payment record: Unknown
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Mizuho Bank
(Toranomon)
Deutche Bank
(Tokyo)
Relations:
Satisfactory
FINANCES
(In Million Yen)
NOT DISCLOSED AND UNAVAILABLE
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.20 |
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1 |
Rs.100.03 |
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Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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 |
-- |
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.