MIRA INFORM REPORT

 

 

Report Date :

12.06.2012

 

IDENTIFICATION DETAILS

 

Name :

SHIMAMURA MUSIC CO LTD

 

 

Registered Office :

6-37-3 Hirai Edogawaku Tokyo 132-0035

 

 

Country :

Japan

 

 

Financials (as on) :

28.02.2012

 

 

Date of Incorporation :

March 1969

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Retailer of musical instruments

 

 

No. of Employees :

430

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

 

Company name

 

SHIMAMURA MUSIC CO LTD

 

 

REGD NAME

 

Shimamura Gakki KK

 

 

MAIN OFFICE

 

6-37-3 Hirai Edogawaku Tokyo 132-0035 JAPAN

Tel: 03-3613-4160      Fax: 03-3613-4134

                                               

URL:                 http://www.shimamura.co.jp

E-Mail address:            inquiry@shimamura.co.jp

 

 

ACTIVITIES  

 

Retailer of musical instruments

 

 

BRANCHES   

 

Operated 140 stores nationwide, out of which 22 locations provides music School classes only:      

 

OFFICERS

 

MOTOTSUGU SHIMAMURA, PRES

Toshiaki Hirose, s/mgn dir                      Satoko Shimamura, dir

Keiichi Oshima, dir                                 Fumitaka Haga, dir

                                                                                   

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 28,282 M

PAYMENTS No Complaints   CAPITAL           Yen 265 M

TREND UP                                WORTH            Yen 2,614 M

STARTED         1969                             EMPLOYES      430

 

 

COMMENT    

 

MUSIC INSTRUMENTS STORE OPERATOR.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

 

HIGHLIGHTS

           

The subject company was established by Mototsugu Shimamura in order to make most of his experience in the subject line of business.  This is a music instruments store operator, operating 140 stores nationwide, having 10% market share in Japan.  It also offers music school lessons at 22 locations.  Handles all music instruments from piano, electron, other.

 

 

FINANCIAL INFORMATION

           

The sales volume for Feb/2011 fiscal term amounted to Yen 28,282 million, a 4% up from Yen 27,213 million in the previous term.  The recurring profit was posted at Yen 607 million and the net profit at Yen 296 million, respectively, compared with Yen 382 million recurring profit and Yen 194 million net profit, respectively, a year ago.

 

For the term that ended Feb 2012 the recurring profit was projected at Yen 610 million and the net profit at Yen 300 million, respectively, on a 3% rise in turnover, to Yen 19,150 million.  Final results are yet to be released. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Mar 1969

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         2 million shares

Issued:                531,740 shares

Sum:                   Yen 165,870,000

 

Major shareholders (%): Shimamura Sogyo (67), Mototsugu Shimamura (34)

 

No. of shareholders: 19

 

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

 

 

OPERATION

           

Activities: Music instruments store operator, operating 140 stores nationwide, offering music school classes at some limited stores (--100%)

 

Clients: Consumers, schools, government agencies, other

            No. of accounts: Unavailable

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Yamaha Corp, Hot Line Music, Casio, other

 

Payment record: No Complaints

 

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

 

Bank References:

SMBC (Kameido)

MUFG (Kameido-Kitaguchi)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

       Terms Ending:

29/02/2012

28/02/2011

28/02/2010

28/02/2009

Annual Sales

　

29,150

28,282

27,213

26,224

Recur. Profit

　

610

607

382

　

Net Profit

　

300

296

194

49

Total Assets

　

　

14,327

14,556

14,252

Current Assets

　

　

9,169

9,511

　

Current Liabs

　

　

5,362

6,328

　

Net Worth

　

　

2,614

2,378

2,210

Capital, Paid-Up

　

　

265

265

265

Div.P.Share(¥)

　

　

50.00

50.00

50.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.07

3.93

3.77

1.25

    Current Ratio

 

..

171.00

150.30

..

    N.Worth Ratio

..

18.25

16.34

15.51

    R.Profit/Sales

 

2.09

2.15

1.40

..

    N.Profit/Sales

1.03

1.05

0.71

0.19

    Return On Equity

..

11.32

8.16

2.22

 

Notes: Forecast (or estimated) figures for the 29/02/2012 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.24

UK Pound

1

Rs.85.93

Euro

1

Rs.69.82

 

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%)

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.