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Report No. : |
337177 |
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Report Date : |
08.09.2015 |
IDENTIFICATION DETAILS
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Name : |
WADA PRECISION DENTAL LABORATORIES CO LTD |
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Registered Office : |
Tsujimoto Bldg 6F, 1-12-15 Higashi-Mikuni Yodogawaku Osaka 532-0022 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
September 1966 |
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Com. Reg. No.: |
1200-01-053266
(Osaka-Yodogawaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures: dental prosthesis, orthodontic products, dental implant products, artificial teeth, implant products, other (--100%) |
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No. of Employees : |
932 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limits : |
Yen 190.8 million |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 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 |
WADA PRECISION DENTAL LABORATORIES CO LTD
Wada Seimitsu
Shiken KK
Tsujimoto Bldg 6F,
1-12-15 Higashi-Mikuni Yodogawaku Osaka 532-0022 JAPAN
Tel:
06-6321-2101 Fax: 03-6325-8427
E-Mail
address: info@labowada.co.jp
Mfg of
artificial tooth, dental implant products, other
42
locations nationwide
Osaka,
other (Tot 18)
OMOMI
WADA, PRES Hiroki Wada, ch
Yuji
Akazawa, s/mgn dir Shizuo
Higuchi, mgn dir
Hirofumi
Shiota, mgn dir Kazuo
Yasutomi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 10,371 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 99 M
TREND UP WORTH Yen 1,559 M
STARTED 1966 EMPLOYES 932
MFR OF ARTIFICIAL TOOTH, DENTAL
IMPLANT PRODUCTS, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: ESTIMATED AT YEN 190.8 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established originally in 1958 by
Hiroki Wada, on his account, and was incorporated in 1966. Omomi Wada is his son, who took the pres
office in 2007. This is a specialized
mfr of dental prosthesis, artificial teeth, dental implant products,
other. Goods are exported. Clients include university hospitals
(Dental), dental hospitals, other
Financials are disclosed only partially.
The sales volume for Mar/2015 fiscal term amounted to Yen
10,371 million, an 8% up from
Yen 9,640 million in the previous term. Due to the increasing number of elderly
persons the artificial teeth and dental implant products were in good
demand. The net profit was posted at Yen
116 million, compared with Yen 147 million a year ago.
For the current term ending Mar
2016 the net profit is projected at Yen 120 million, a 5% rise in turnover, to
Yen 10,900 million. Business is seen
expanding steadily.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 190.8 million, on 30 days normal terms.
Date Registered: Sept 1966
Regd No.: 1200-01-053266
(Osaka-Yodogawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 796,000 shares
Issued:
199,000 shares
Sum: Yen
99.5 million
Major
shareholders (%): Hiroki Wada
(25), Osaka Small & Medium Business Investment & Promotion Assn (21),
Kimiko Wada (18), Omomi Wada (15), other
No. of shareholders: 14
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures: dental prosthesis,
orthodontic products, dental implant products, artificial teeth, implant
products, other (--100%)
Clients: [Mfrs, wholesalers] Osaka Univ. Osaka
Dental Univ. Okayama Univ. Tokushima Univ. Kanagawa Dental Univ. Ehime Univ.
Hiroshima Univ Hospital, Asahi Univ PDI Dental Clinic, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Morita Corp,
Iwasaki Odontology Department Materials Corp, Tokuyama Dental, Yoshioka Shika
Shoten, other
Payment record: No
Complaints
Location:
Business area in Osaka. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Awaji)
SMBC (Tenroku)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
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Annual
Sales |
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10,900 |
10,371 |
9,640 |
9,033 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
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120 |
116 |
147 |
65 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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1,559 |
1,478 |
1,376 |
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Capital,
Paid-Up |
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99 |
99 |
99 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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5.10 |
7.58 |
6.72 |
1.11 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
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1.10 |
1.12 |
1.52 |
0.72 |
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.74 |
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UK Pound |
1 |
Rs.101.36 |
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Euro |
1 |
Rs.74.27 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared
by : |
VNT |
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 |
-- |
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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.