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Report Date : |
31.08.2012 |
IDENTIFICATION DETAILS
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Name : |
KIKUTANI MUSIC CO LTD |
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Registered Office : |
2-120-1 Inabacho Owari-Asahi City Aichi-Pref 488-0054 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
February
1994 |
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Com. Reg. No.: |
1800-01-079511
(Aichi-Owariasahi) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of musical instruments |
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No. of Employees : |
14 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
JAPAN - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a strong
work ethic, mastery of high technology, and a comparatively small defense
allocation (1% of GDP) helped Japan develop a technologically advanced economy.
Two notable characteristics of the post-war 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 are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - a 10% average in the 1960s,
a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed
markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s
that required a protracted period of time for firms to reduce excess debt,
capital, and labor. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001, and
third-place India, which edged out Japan in 2011. A sharp downturn in business
investment and global demand for Japan's exports in late 2008 pushed Japan
further into recession. Government stimulus spending helped the economy recover
in late 2009 and 2010, but the economy contracted again in 2011 as the massive
9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies
remain tight because Japan has temporarily shut down almost all of its nuclear
power plants after the Fukushima Daiichi nuclear reactors were crippled by the
earthquake and resulting tsunami. Estimates of the direct costs of the damage -
rebuilding homes, factories, and infrastructure - range from $235 billion to
$310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko
NODA has proposed opening the agricultural and services sectors to greater
foreign competition and boosting exports through membership in the US-led
Trans-Pacific Partnership trade talks and by pursuing free-trade agreements
with the EU and others, but debate continues on restructuring the economy and
reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent
deflation, reliance on exports to drive growth, and an aging and shrinking
population are other major long-term challenges for the economy.
|
Source : CIA |
KIKUTANI MUSIC CO LTD
Kikutani Music KK
2-120-1 Inabacho
Owari-Asahi City Aichi-Pref 488-0054 JAPAN
Tel:
0561-53-3007 Fax: 0561-53-1741
URL: http://www.kikutani.co.jp
E-Mail address: general@kikutani.co.jp
Import,
wholesale of musical instruments
Nil
TOSHIHIKO
KIKUTANI, PRES Isomi Yawata, dir
Hiroyuki
Watanabe, dir Seishi
Yamaguchi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,188 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 1,609 M
STARTED 1994 EMPLOYES 14
IMPORTER OF MUSICAL INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
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 USA, Germany, Korea, China, Taiwan, other. Clients include major musical instruments
dealers nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen 1188 million,
an almost similar amount of Yen 1,177 million in the previous term. The recurring profit was posted at Yen 106 million
and the net profit at Yen 205 million, respectively, compared with Yen 111
million recurring profit and Yen 129 million net losses, respectively, a year
ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 105 million and the net profit at Yen 210 million, respectively, on a 1%
rise in turnover, to Yen 1,200 million.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: Feb 1994
Regd No.: 1800-01-079511 (Aichi-Owariasahi)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Toshihiko Kikutani (75)
No. of shareholders:
7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales musical instruments, components, parts, others (--100%).
Goods are imported from USA, Germany, Taiwan, Korea, China, other
(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: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from USA, Germany, Taiwan, China, Korea, etc.
Payment record: Regular
Location: Business area in
Owari-Asahi City, Aichi-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
(Owari-Asahi)
Mizuho
Bank (Nagoya)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
1,200 |
1,188 |
1,177 |
1,216 |
|
Recur.
Profit |
|
105 |
106 |
111 |
|
|
Net
Profit |
|
210 |
205 |
-129 |
7 |
|
Total
Assets |
|
|
2,219 |
2,121 |
2,021 |
|
Current
Assets |
|
|
1,376 |
1,276 |
|
|
Current
Liabs |
|
|
585 |
683 |
|
|
Net
Worth |
|
|
1,609 |
1,413 |
1,551 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
1.01 |
0.93 |
-3.21 |
0.91 |
|
|
Current Ratio |
|
.. |
235.21 |
186.82 |
.. |
|
N.Worth Ratio |
.. |
72.51 |
66.62 |
76.74 |
|
|
R.Profit/Sales |
|
8.75 |
8.92 |
9.43 |
.. |
|
N.Profit/Sales |
17.50 |
17.26 |
-10.96 |
0.58 |
|
|
Return On Equity |
.. |
12.74 |
-9.13 |
0.45 |
|
Note: Forecast
(or estimated) for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.65 |
|
UK Pound |
1 |
Rs.88.10 |
|
Euro |
1 |
Rs.69.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.