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MIRA INFORM REPORT
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Report No. : |
500979 |
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Report Date : |
28.03.2018 |
IDENTIFICATION DETAILS
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Name : |
NACALAI TESQUE INC |
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Registered Office : |
498 Higashi-Tamayacho Nijodori-Karasumanishi-Iru Nakagyoku Kyoto 604-0855 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2017 |
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Date of Incorporation : |
May 1958 |
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Com. Reg. No.: |
1300-01-021948 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures, imports and exports reagents (capillary columns, toxins, antibodies, enzymes, cell culture media, analytical kits, fine chemicals & research chemicals, diagnostics & related pharmaceutical materials) |
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No. of Employees : |
285 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
Yen 598.6 million |
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Status : |
Good |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
JAPAN - ECONOMIC
OVERVIEW
Over the past 70 years, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (slightly less than 1% of GDP) have helped Japan develop an advanced economy. Two notable characteristics of the post-World War II 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 have significantly eroded under the dual pressures of global competition and domestic demographic change.
Measured on a purchasing power parity basis that adjusts for price differences, Japan in 2017 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. For three postwar decades, overall real economic growth was impressive - a 10% average in the 1960s, 5% in the 1970s, and 4% in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the aftereffects of inefficient investment and the collapse of an asset price bubble in the late 1980s, which entailed considerable 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.
Japan enjoyed an 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. Led by the Bank of Japan’s aggressive monetary easing, Japan is making modest progress in ending deflation, but demographic decline – a low birthrate and an aging, shrinking population – poses a major long-term challenge for the economy. The government currently faces the quandary of balancing its efforts to stimulate growth and institute economic reforms with the necessity of addressing its sizable public debt, which stands at 235% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate. However, the first such increase, in April 2014, led to another recession, so Prime Minister ABE has twice postponed the next increase, now scheduled for October 2019. Structural reforms to unlock productivity are seen as central to strengthening the economy in the long-run.
Scarce in critical natural resources, Japan has long been dependent on imported energy and raw materials. After the complete shutdown of Japan’s nuclear reactors following the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than before on imported fossil fuels. However, ABE’s government is seeking to restart nuclear power plants that meet strict new safety standards and is emphasizing nuclear energy’s importance as a base-load electricity source. In August 2015, Japan successfully restarted one nuclear reactor at the Sendai Nuclear Power Plant in Kagoshima prefecture, and several other reactors around the country have since resumed operations; however, opposition from local governments has delayed several more restarts that remain pending. Reforms of the electricity and gas sectors, including full liberalization of Japan’s energy market in April 2016 and gas market in April 2017, constitute an important part of Prime Minister Abe’s economic program.
In October 2015, Japan and 11 trading partners reached agreement on the Trans-Pacific Partnership (TPP), a pact that had promised to open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. Japan was the first country to ratify the TPP in December 2016; the United States signaled its withdrawal from the TPP in January 2017, and in November 2017 the remaining 11 countries agreed on the core elements of a modified agreement, which they renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
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Source
: CIA |
Company
summery
NACALAI TESQUE INC
REGD NAME: Nacalai Tesque KK
MAIN OFFICE: 498 Higashi-Tamayacho
Nijodori-Karasumanishi-Iru Nakagyoku Kyoto 604-0855 JAPAN
Tel:
075-211-2516 Fax: 075-231-2455
URL: http://www.nacalai.co.jp/
E-Mail address: intl@nacalai.co.jp; nakalai@aol.com
ACTIVITIES: Mfg of reagents, diagnostics and related
materials
BRANCHES: Kyoto (2),
Tokyo, Osaka, Kobe, Shiga, Fukuoka, Okayama, Kanagawa, Nara, Saitama
OVERSEAS: USA (5), UK (2), Germany, France,
Poland, Canada, Puerto Rico, New Zealand, India, China, Korea, Taiwan, Hong
Kong, S Africa, other (--agents & rep offices)
FACTORIES: Kyoto
OFFICER(S): DAI NAKARAI, PRES Toshimitsu Hiroshige, mgn/dir
Kazuhiro Kimata, mgn/dir Masamichi
Koyama, dir
Takatoshi Nakarai, advisor Toshio Ishii, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 16,272 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 260 M
TREND STEADY WORTH Yen
7,767 M
STARTED 1958 EMPLOYES 285
COMMENT
MFR SPECIALIZING IN REAGENTS & RESEARCH CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 598.6 MILLION, NORMAL TERMS.
HIGHLIGHTS
The subject company was established as old as in 1846 when
Mansuke Nakarai started his apothecary business for traditional Japanese &
Chinese medicines. In 1908, he started
to import reagents from Germany.
Incorporated in 1958, founded as a spin-off from M Nakarai. The firm has been succeeded by the founder’s
descendants. Specializes in mfg research
chemicals, fine chemicals, reagents, diagnostics & related materials. Products are supplied to university
laboratories, pharmaceutical & food-beverage makers, public & private
research institutes. Goods are also
imported and exported.
FONANCIAL
INFORMATION
The sales volume for Sept/2017 fiscal term amounted to Yen
16.272 million, a 3% up from Yen 15,799 million in the previous term. The recurring profit was posted at Yen 263
million and the net profit at Yen 175 million, respectively, compared with Yen
349 million recurring profit and Yen 142 million net profit, respectively, a
year ago.
For the current term ending Sept 2018 the recurring profit
is projected at Yen 270 million and the net profit at Yen 180 million,
respectively, on a 3% rise in turnover, to Yen 16,760 million.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 598.6 million, on normal terms.
REGISTRATION
Date Registered: May 1958
Regd No.: 1300-01-021948 (Kyoto-Nakagyoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.04 million shares
Issued:
260,000 shares
Sum: Yen 260
million
Major
shareholders (%): Nacalai Union*(24), Employees’ S/Holding Assn (18), Osaka Small & Medium Business Promotion (8),
Takatoshi Nakarai (6)
*.. Holding company owned by the Nakarai family
No. of shareholders: 28
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
Manufactures, imports and exports reagents (capillary columns, toxins,
antibodies, enzymes, cell culture media, analytical kits, fine chemicals &
research chemicals, diagnostics
& related pharmaceutical materials) (--100%).
Clients:
[Universities, research laboratories, pharmaceutical makers] Kyoto Univ, Osaka Univ. Rohm, Kyoto-Pref Univ, Matsushita
Electric Ind, Murata Mfg, Shionogi & Co, Toyobo Ind, other.
No. of accounts: 350
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Showa Denko, Cosmo Biochemical, Toyobo Ind, Ueno Corp, Life Technologies Japan, Funakoshi
Corp, GE Healthcare Japan, Merk Inc, other.
Payment record: No Complaints
Location: Business
area in Kyoto. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References:
SMBC (Kyoto)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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30/09/2018 |
30/09/2017 |
30/09/2016 |
30/09/2015 |
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Annual Sales |
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16,760 |
16,272 |
15,799 |
15,310 |
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Recur. Profit |
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270 |
263 |
349 |
.. |
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Net Profit |
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180 |
175 |
142 |
165 |
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Total Assets |
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12,685 |
11,817 |
11,465 |
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Net Worth |
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7,767 |
7,321 |
7,171 |
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Capital, Paid-Up |
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260 |
260 |
260 |
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Div.Ttl in Million(¥) |
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52.00 |
52.00 |
52.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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3.00 |
2.99 |
3.19 |
-2.52 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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61.23 |
61.95 |
62.55 |
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N.Profit/Sales |
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1.07 |
1.08 |
0.90 |
1.08 |
Notes: Forecast (or estimated) figures for
30/09/2018 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.80 |
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1 |
INR 92.26 |
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Euro |
1 |
INR 80.76 |
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YEN |
1 |
INR 0.61 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VAR |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.