MIRA INFORM REPORT

 

 

Report Date :           

12.08.2011

 

IDENTIFICATION DETAILS

 

Name :

TERADA MUSICAL CO LTD

 

 

Registered Office :

Heights Higashi-Sakura, 2-17-15 Higashi-Sakura Higashiku Nagoya 461-0005

 

 

Country :

Japan

 

 

Financials (as on) :

30.09.2010

 

 

Date of Incorporation :

September 2006

 

 

Com. Reg. No.:

(Nagoya-Higashiku) 058865

 

 

Legal Form :

Limited Company

 

 

Line of Business :

manufacturer of guitar

 

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 6.6 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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

 

TERADA MUSICAL CO LTD

 

 

REGD NAME

 

KK Terada Gakki (Gakki means musical instruments)

 

 

MAIN OFFICE

 

Heights Higashi-Sakura, 2-17-15 Higashi-Sakura Higashiku Nagoya 461-0005, JAPAN

Tel: 052-931-2591

                                   

URL:                 N/A

 

 

ACTIVITIES

 

Mfg of guitar

 

 

BRANCHES

 

Nil

 

 

FACTORIES

 

At the caption address; (subcontracted)

 

 

OFFICERS

 

SHOGO TERADA, PRES                      

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 370 M

PAYMENTS      REGULAR                     CAPITAL           Yen 10 M

TREND             SLOW                          WORTH            Yen 26 M

STARTED                     2006                             EMPLOYES      50

 

 

COMMENT    

 

MFR OF GUITAR.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 6.6 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established originally in 1950 by father of Okada for making guitar, on his account.  Incorporated in 2006.  This is a specialized mfr of guitar & accessories.  Goods are also exported.

 

 

FINANCIAL INFORMATION

           

Financials are only partially disclosed.

 

The sales volume for Sept/2010 fiscal term amounted to Yen 370 million, a 26% down from Yen 500 million in the previous term, as affected substantially by the global economic downturn.  Consumer spending was sluggish particularly for luxurious goods.  The net profit was posted at Yen 5 million, compared with Yen 8 million net profit a year ago.

 

For the current term ending Sept 2011 the net profit is projected at Yen 5 million, on a 4% rise in turnover, to Yen 385 million.  Exports revived. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 6.6 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Sept 2006

Regd No.:          (Nagoya-Higashiku) 058865

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:    200 shares

Sum:                   Yen 10 million

Major shareholders (%): Shogo Terada (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATIOn

           

Activities: Manufactures guitars & accessories (--100%).

 

Clients: [Mfrs, wholesalers] Fender Japan, Shimamura Music Co, Crooz Inc, other

            No. of accounts: 100

            Domestic areas of activities: Centered in greater-Nagoya

 

Suppliers: [Mfrs, wholesalers] Aichi Mokuzai Processing Ind, Tokiwa Group, Keiyo Co, other

 

Payment record: Regular

 

Location: Business area in Nagoya.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

MUFG (Ohtsucho)

Bank of Nagoya (Aoi)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

30/09/2011

30/09/2010

30/09/2009

30/09/2008

Annual Sales

　

385

370

500

700

Recur. Profit

　

　

　

　

　

Net Profit

　

5

5

8

10

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

26

21

13

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.05

-26.00

-28.57

7.69

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

1.30

1.35

1.60

1.43

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 30/09/2011 fiscal term.

 

 

 Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.27

UK Pound

1

Rs.73.34

Euro

1

Rs.64.58

 

 

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%)

 

 

 

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