MIRA INFORM REPORT
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Report No. : |
336663 |
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Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
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Name : |
SANOFI K.K. |
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Registered Office : |
Tokyo Opera City Tower , 3-20-2, Nishi Shinjuku, Shinjuku-Ku , Tokyo
163-1488 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Year of Establishment : |
2006 |
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Legal Form : |
Private Limited |
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Line of Business : |
Subject is manufacturer of medical & pharmaceutical
equipments. |
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No. of Employee : |
2,650 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 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 first-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.
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Source
: CIA |
NOTE
In absence of subject company financials, no credit limit could be recommended.
Company
name and address
SANOFI K.K.
Tokyo Opera City
Tower , 3-20-2, Nishi Shinjuku, Shinjuku-ku , Tokyo 163-1488, JAPAN
TEL: 81-3-6301-3000 FAX: 81-3-6301-4007
EXECUTIVE
SUMMARY
INCORPORATION DATE : 2006
REGISTRATION NO. :
N/A
LEGAL FORM :
PRIVATE LIMITED
CHIEF EXECUTIVE :
MR. FABRICE BASCHIERA (PRESIDENT)
STAFF STRENGTH :
2,650
PAID-UP CAPITAL :
N/A
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
REGULAR
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
JPY 119.1865 = US$1
Adopted abbreviations:
ANS - amount not stated NS - not stated SC - subject company (the company inquired by you)
NA - not available M - million JPY-Japan Yen
REGD NAME
SANOFI K.K.
REGISTRATION
Date Registered: 2006
Regd No. : N/A
Legal Status : Private Limited
www.sanofi.co.jp The design is professional and the content is well organized. At present
it is in both Japanese version.
E-mail: info@sanofi.co.jp
For the past two years there is no record of litigation.
SHARE HOLDERS
Name Sanofi SA
Share Percent 100%
Country France
DIRECTORS
Name Mr. Fabrice
Baschiera
Designation President &
Representative Director
Nationality Japanese
Line of Business Manufacturer
Items Dealing In Medical &
Pharmaceutical Equipments
Terms of Purchase Local: Cash or Credit
Import: Against L/C
Terms of Sale Local: Cash or Credit
Export: Against L/C
Range of Products Pharmaceutical
Products
Medical Equipments
Export Market Global
BRANCHES
Distribution Office
East Japan Distribution Center
3-3-1, Lalacity, Shinmisato, Misato-shi, Saitama 341-0009,
Japan
West Japan Distribution Center
2-15-8, Fujinosato, Ibaraki-shi, Osaka 567-0054, Japan
FACTORIES
Factory: 1-3-2, Minamidai, Kawagoe-shi, Saitama 350-1165,
Japan
Factory Telephone No.: +81 49 243
1322
Factory Fax No.: N/A
Warehouse: 1-3-2, Minamidai, Kawagoe-shi, Saitama 350-1165,
Japan
AFFILIATES
4 Hisamitsu - Sanofi Co.,
Ltd
4 Nichi-Iko Sanofi Co., Ltd
FINANCES
Parent Company
Balance Sheet
As At 31 December
2014
Currency: Euro (In
Millions)
|
Assets |
|
|
Cash and Equivalents |
7,341.0 |
|
Short-Term Investments |
9.0 |
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Trading Asset Securities |
98.0 |
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TOTAL CASH AND SHORT TERM INVESTMENTS |
7,448.0 |
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Accounts Receivable |
7,149.0 |
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Other Receivables |
1,861.0 |
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TOTAL RECEIVABLES |
9,010.0 |
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Inventory |
6,562.0 |
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Prepaid Expenses |
296.0 |
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Other Current Assets |
121.0 |
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TOTAL CURRENT ASSETS |
23,437.0 |
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Gross Property Plant and Equipment |
20,880.0 |
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Accumulated Depreciation |
-10,484.0 |
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NET PROPERTY PLANT AND EQUIPMENT |
10,396.0 |
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Goodwill |
39,197.0 |
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Long-Term Investments |
3,745.0 |
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Loans Receivable, Long Term |
711.0 |
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Deferred Tax Assets, Long Term |
4,860.0 |
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Deferred Charges, Long Term |
1,441.0 |
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Other Intangibles |
13,102.0 |
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Other Long-Term Assets |
503.0 |
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TOTAL ASSETS |
97,392.0 |
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|
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LIABILITIES & EQUITY |
|
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Accounts Payable |
3,651.0 |
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Accrued Expenses |
1,912.0 |
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Short-Term Borrowings |
321.0 |
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Current Portion of Long-Term Debt/Capital Lease |
1,219.0 |
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Current Portion of Capital Lease Obligations |
15.0 |
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Current Income Taxes Payable |
948.0 |
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Other Current Liabilities, Total |
4,981.0 |
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TOTAL CURRENT LIABILITIES |
13,032.0 |
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Long-Term Debt |
13,229.0 |
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Capital Leases |
47.0 |
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Minority Interest |
148.0 |
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Pension & Other Post-Retirement Benefits |
4,873.0 |
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Deferred Tax Liability Non-Current |
4,105.0 |
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Other Non-Current Liabilities |
5,838.0 |
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TOTAL LIABILITIES |
41,124.0 |
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Common Stock |
2,639.0 |
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Additional Paid in Capital |
52,553.0 |
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Treasury Stock |
-694.0 |
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Comprehensive Income and Other |
1,622.0 |
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TOTAL COMMON EQUITY |
56,120.0 |
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TOTAL EQUITY |
56,268.0 |
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TOTAL LIABILITIES AND EQUITY |
97,392.0 |
Parent Company
Income Statement
For the Year Ended
31 December 2014
Currency: Euro (In
Millions)
|
Revenues |
33,770.0 |
|
Other Revenues |
339.0 |
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TOTAL REVENUES |
34,109.0 |
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Cost of Goods Sold |
11,029.0 |
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GROSS PROFIT |
23,080.0 |
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Selling General & Admin Expenses, Total |
9,249.0 |
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R&D Expenses |
4,824.0 |
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Depreciation & Amortization, Total |
2,482.0 |
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Other Operating Expenses |
-266.0 |
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OTHER OPERATING EXPENSES, TOTAL |
16,289.0 |
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OPERATING INCOME |
6,791.0 |
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Interest Expense |
-361.0 |
|
Interest and Investment Income |
68.0 |
|
NET INTEREST EXPENSE |
-293.0 |
|
Income (Loss) on Equity Investments |
-51.0 |
|
Currency Exchange Gains (Loss) |
-100.0 |
|
Other Non-Operating Income (Expenses) |
-82.0 |
|
EBT, EXCLUDING UNUSUAL ITEMS |
6,265.0 |
|
Merger & Restructuring Charges |
-411.0 |
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Gain (Loss) on Sale of Investments |
68.0 |
|
Gain (Loss) on Sale of Assets |
-- |
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Other Unusual Items, Total |
-242.0 |
|
Legal Settlements |
-- |
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Other Unusual Items |
-268.0 |
|
EBT, INCLUDING UNUSUAL ITEMS |
5,680.0 |
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Income Tax Expense |
1,171.0 |
|
Minority Interest in Earnings |
-119.0 |
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Earnings from Continuing Operations |
4,509.0 |
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NET INCOME |
4,390.0 |
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NET INCOME TO COMMON INCLUDING EXTRA ITEMS |
4,390.0 |
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NET INCOME TO COMMON EXCLUDING EXTRA ITEMS |
4,390.0 |
The bank details of SC is not
available at president..
Company can be considered good for normal business dealings at usual
trade terms and conditions.
SC is considered large-sized in its line
with a development history of 9 years. Due to lack of financial statements, we
are unable to determine the maximum credit limit for SC. Taking into
consideration of all the factors above, credit dealings with SC in moderate amount appear acceptable.
Note: an interview was conducted with SC’s President Mr. Fabrice
Baschiera.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.23 |
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UK Pound |
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.33 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
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 |
|
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 |
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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.