MIRA
INFORM REPORT
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Report Date : |
01-08-2007 |
IDENTIFICATION DETAILS
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Name : |
KIKUTANI MUSIC COMPANY LIMITED |
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Registered Office : |
2-120-1, Inabacho, Owari - Asahi, City Aichi - Pref 488-0054 |
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Country : |
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Date of Incorporation : |
Feb 1994 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale of Musical Instrument. |
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 Limit : |
Yen 74.3 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Name
KIKUTANI MUSIC CO LTD
REGD NAME
Kikutani Music KK
MAIN OFFICE
2-120-1 Inabacho Owari-Asahi City Aichi-Pref 488-0054
Tel: 0561-53-3007
Fax: 0561-53-1741
URL: http://www.kikutani.co.jp
E-Mail address: general@kikutani.co.jp
ACTIVITIES
Import, export, wholesale of
musical instruments
BRANCHES
Nil
OFFICERS
TOSHIHIKO KIKUTANI, PRES
Isomi Yawata, dir
Hiroyuki Watanabe, dir
Seishi Yamaguchi, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,300 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 1,554 M
STARTED 1994 EMPLOYES 20
COMMENT
IMPORTER OF MUSICAL
INSTRUMENTS. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 74.3
MILLION, 30 DAYS
HIGHLIGHTS
The subject company was
established by Toshihiko Kikutani in order to make most of his previous experience in the subject line of
business. This is a trading firm
specializing in import, export and
wholesale of a wide variety of musical instruments, their components, parts,
etc. Goods are imported widely from
FINANCIAL INFORMATION:
The sales volume for Mar/2007
fiscal term amounted to Yen 1,300 million, an 8% down from Yen 1,412 million in
the previous term. Prices continued
downward pressure due to competition among the trade with lower-priced imports
flooded in the market. The net profit
decreased to Yen 159 million from Yen 240 million a year ago.
For the current term ending Mar
2008 the net profit is projected at Yen 160 million, on an 8% recovery in
turnover, to Yen 1,400 million.
The financial situation is
considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 74.3
million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1994
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Toshihiko
Kikutani (50), Ikue Kikutani (12.5), Akira Kikutani (12.5), Shinobu Kikutani
(6),
Tetsuya
Kikutani (6)
No. of shareholders: 7
Nothing detrimental is known as to
the commercial morality of executives.
OPERATION
Activities: Imports and wholesales
musical instruments, components, parts, others (--100%).
Goods are imported from
(Handling Brands):
Stentor,
Hall Crystal, Carbostick, SX, ‘K’, Quick Tune, Mahalo, Tycoon, Ortofon,
K&M, K Garage, Maxtone, Samson,
Attack Drum Head, Valencia, Augustine, DG Cajon, Shubb, Tech, Antique Noel,
Tribal Beat, Gemini, CNB, Kyser, E-Bow, Gator, Shure, Leem, other.
Clients:
[Musical instruments stores, dealers] Music Land, Ishibashi Musical instruments
Store, Ikebe Musical Instruments Inc, Zen-On Music Co, Shimamura Music,
Shinseido Co, other.
No.
of accounts: 800
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers]
Imports from
Payment record: Regular
Location: Business area in
Bank References
MUFG (Owari-Asahi)
Mizuho Bank (
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual Sales |
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1,400 |
1,300 |
1,412 |
1,309 |
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Recur.
Profit |
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150 |
193 |
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Net
Profit |
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160 |
159 |
240 |
122 |
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Total
Assets |
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1,709 |
1,705 |
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Current
Assets |
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948 |
1,189 |
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Current
Liabs |
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39 |
175 |
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Net
Worth |
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1,554 |
1,405 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.69 |
-7.93 |
7.87 |
-2.68 |
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Current Ratio |
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2,430.77
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679.43 |
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N.Worth Ratio |
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90.93 |
82.40 |
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R.Profit/Sales |
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11.54 |
13.67 |
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N.Profit/Sales |
11.43 |
12.23 |
17.00 |
9.32 |
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Return On Equity |
.. |
10.23 |
17.08 |
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Note: Forecast (or estimated) for
the 31/03/2008 fiscal term.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)