MIRA INFORM REPORT
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Report Date : |
04.08.2012 |
IDENTIFICATION DETAILS
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Name : |
YAMANO MUSIC CO LTD |
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Registered Office : |
4-5-6 Ginza
Chuoku Tokyo 104-0061 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
December
1926 |
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Com. Reg. No.: |
(Tokyo-Chuoku)
059219 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports,
Wholesale, Retail of musical instruments; operation of music classes |
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No. of Employees
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320 |
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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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
YAMANO MUSIC CO LTD
KK Yamano Gakki (Gakki
means musical instruments)
4-5-6 Ginza Chuoku
Tokyo 104-0061 JAPAN
Tel: 03-3562-5051 Fax: 03-3862-8686
* The given address is its international trading division at: 2-1-4 Yanagibashi Taitoku Tokyo; Tel: 03-3862-8151; Fax: 03-3862-8686
URL: http://www.yamano-music.co.jp/
E-Mail address: info@yamano-music.co.jp
Imports,
wholesale, retail of musical instruments; operation of music classes
Tokyo,
Chiba, Saitama, Kanagawa, Osaka, Hiroshima, Fukuoka, other (Tot
35)
Tokyo
(12), Hiroshima, other (Tot 20 (--Piano/electronic organ classes)
Masamitsu
Yamano, ch MASAHIKO
YAMANO, PRES
Susumu
Ikeda, v pres Kikutoshi
Andoh, s/mgn dir
Takashi
Nonomura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 22,000 M
PAYMENTS REGULAR CAPITAL Yen 200 M
TREND SLOW WORTH Yen 3,723 M
STARTED 1926 EMPLOYES 320
IMPORTER,
WHOLESALER AND RETAILER OF MUSICAL INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1892 by Seitaro Yamano for selling musical instruments, on his account. Incorporated in 1926, the firm has been succeeded by his descendants. Masahiko is the founder’s great grandson, who took the pres office in 2003. Imports, wholesales and retails musical instruments, CD’s, DVD’s, AV software, other accessories. Operates a total 35 retail shops, including in-shop stores in department stores, nationwide. Goods are also widely retailed online. Also operates a total 20 music classes/saloons centrally in Tokyo. The given address is its international trading & administration divisions. The firm is essentially owned by the Yamano family.
Financials are only partially disclosed as is the case with family-based companies.
The sales volume for Mar/2011 fiscal term amounted to Yen 22,000 million, a 4% down from Yen 23,000 million in the previous term. Consumer spending was sluggish. Closed down 6 music classes during the term. The net profit is believed (or estimated) posted at Yen 150 million, compared with Yen 160 million a year ago. These figures are only estimated as the firm stopped disclosing net profits as from Mar/2006 fiscal term.
For the current term ending Mar 2012 the net profit is projected at Yen 160 million, on a 5% rise in turnover, to Yen 23,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec
1926
Regd No.: (Tokyo-Chuoku) 059219
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
16 million shares
Issued:
4 million shares
Sum: Yen 200
million
Major shareholders (%):
Masahiko Yamano (36), Masamitsu Yamano (17), Kimiko Yamano (12), Yamano
Creates
(7), Mari Yamano (4)
No. of shareholders: 85
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, wholesales and retails (including online shops) musical instruments and accessories; operates piano & electronic organ classes (--100%).
Operates a total 35 retail shops and 20 music classes nationwide.
(Handling items): pianos, electronic organs, guitars, ukulele, digital keyboards, flute, clarinet, trumpet, horn, other including accessories, CD’s DVD’s AV software, other.
Clients: Consumers, retail stores, other
Wholesaling clients: Mitsukoshi Isetan Department Store, Takashimaya, Sogo Department Store, Aeon Retail Co, Seibu Department Store, Odakyu Department Store, other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Gibson Musical Instruments, Fender Musical Instruments,
Yamaha Corp, Sony Music Distribution, Toshiba EMI, Pony Canyon, Avex Marketing, Victor
Entertainment, Universal Music, other.
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
· Mizuho Bank (Ginza)
· MUFG (Ginza)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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23,000 |
22,000 |
23,000 |
25,000 |
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Recur.
Profit |
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Net
Profit |
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160 |
150 |
160 |
180 |
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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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3,723 |
3,618 |
3,506 |
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Capital,
Paid-Up |
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200 |
200 |
200 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.55 |
-4.35 |
-8.00 |
51.52 |
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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 |
0.70 |
0.68 |
0.70 |
0.72 |
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Notes:
Financials are only partially disclosed.
Net worth is estimated by us only.
Forecast
(or estimated) figures for the 31/03/2012 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.56.08 |
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UK Pound |
1 |
Rs.87.02 |
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Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
NLM |
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.