MIRA INFORM REPORT

 

 

Report Date :           

29.04.2011

 

IDENTIFICATION DETAILS

 

Name :

HOTLINE MUSIC CO LTD

 

 

Registered Office :

Maison Hirai 205, 6-37-3 Hirai Edogawaku Tokyo 132-0035

 

 

Country :

Japan

 

 

Financials (as on) :

28.02.2011

 

 

Date of Incorporation :

October 1990

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of musical instruments

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 115.5 Million

Status :

Small Company 

Payment Behaviour :

Regular

Litigation :

----

 

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, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

HOTLINE MUSIC CO LTD

 

 

REGD NAME 

 

Hotline Music KK

 

 

MAIN OFFICE

 

Maison Hirai 205, 6-37-3 Hirai Edogawaku Tokyo 132-0035 JAPAN

Tel: 03-3613-4111    

URL:                 www.hotline.co.jp

E-mail:             info@hotline.co.jp           

 

 

ACTIVITIES  

 

Import, wholesale of musical instruments

 

 

BRANCHES   

 

Chiba

 

 

OFFICER(S)

 

RYOJI HIRAHARA, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 6,491 M

PAYMENTS                  REGULAR         CAPITAL           Yen 20 M

TREND             STEADY           WORTH            Yen 720 M

STARTED                     1990                 EMPLOYES      5

 

COMMENT    

TRADING FIRM SPECIALIZING IN MUSICAL INSTRUMENTS, OWNED BY SHIMAMURA MUSIC CO LTD. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

MAX CREDIT LIMIT: YEN 115.5 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established on the basis of a trading division separated from Shimamura Music Co Ltd, at the caption address (See REGISTRATION).  This is a trading firm specializing in import, export and wholesale of musical instruments.  Goods are wholly shipped to the parent, Shimamura Music Co Ltd, who operates 140 stores and music classes nationwide.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed.

 

The sales volume for Feb/2010 fiscal term amounted to Yen 6,491 million, a 3% up from Yen 6,277 million in the previous term.  The net profit was posted at Yen 127 million, compared with Yen 96 million a year ago.  .

 

For the term that ended Feb 2011 the net profit was projected at Yen 130 million, on a 2% rise in turnover, to Yen 6,600 million.  Final results are yet to be released. 

           

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 115.5 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:  Oct 1990

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　1,600 shares

Issued: 　         400 shares

Sum:                　Yen 20 million

Major shareholders (%): Shimamura Music Co Ltd* (100)

 

 

*.. Retailer of musical instruments and operator of music classes, at the caption address, founded 1969, capital Yen 265 million, sales Yen 27,213 million, net profit Yen 194 million, employees 430, pres Mototsugu Shimamura

           

Nothing detrimental is known as to the commercial morality of executives.

 

OPERATION

 

Activities: Imports and wholesales musical instruments: guitars, bass guitars, amplifiers, brass instruments, wood winds, string instruments, piano, digital instruments, other (--100%)

 

 

Clients: [Retailer] Supplied wholly to Shimamura Music Co Ltd

            No. of accounts: 1

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Imports from USA, Europe, Asia, other.

Domestically supplied from: Roland Corp, Korg Inc, Moridaira Musical Instruments, other

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned by the parent, Shimamura Music Co Ltd, and maintained satisfactorily.

 

Bank References:

MUFG (Kameido-Kitaguchi)

Mizuho Bank (Hirai)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

28/02/2011

28/02/2010

28/02/2009

29/02/2008

Annual Sales

　

6,600

6,491

6,277

5,841

Recur. Profit

　

　

　

　

　

Net Profit

　

130

127

96

61

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

720

593

497

Capital, Paid-Up

　

　

20

20

20

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

1.68

3.41

7.46

32.15

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

1.97

1.96

1.53

1.04

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 28/02/2011 fiscal term. 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.33

UK Pound

1

Rs.74.14

Euro

1

Rs.65.78

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.