MIRA INFORM REPORT

 

 

Report Date :

05.05.2012

 

IDENTIFICATION DETAILS

 

Name :

NEGI DRUMS CO LTD

 

 

Registered Office :

979 Yonezucho Minamiku Hamamatsu Shizuoka-Pref 432-8056

 

 

Country :

Japan

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

July 1977

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of drums (music), drum sets, cymbals, etc.

 

 

No. of Employees :

2

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

Payment Behaviour :

Slow

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

 

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 and address

 

NEGI DRUMS CO LTD

REGD NAME:    KK Negi Drum

MAIN OFFICE:  979 Yonezucho Minamiku Hamamatsu Shizuoka-Pref 432-8056 JAPAN

Tel: 053-441-2831      Fax: 053-442-2179

                                               

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

E-Mail address: info@ndsg.co.jp

 

 

ACTIVITIES

 

Mfg of drums (music), drum sets, cymbals, other

 

BRANCHES

 

Nil

 

FACTORIES

 

At the caption address

 

 

OFFICERS

 

KOTARO NEGI, PRES

Kyoko Negi, s/mgn dir                                                   

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES                    R/WEAK           A/SALES          Yen 38 M

PAYMENTS      SLOW              CAPITAL           Yen 18 M

TREND             SLOW              WORTH            Yen 41 M

STARTED                     1977                 EMPLOYES      2

 

COMMENT    

 

MFR OF DRUMS (MUSIC).

FINANCIAL SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR CREDIT ENGAGEMENTS: US$60,000.00 / O/A 30 DAYS.

                       

 

HIGHLIGHTS

           

            The subject company was established by father of Kotaro Negi in order to make most of his experience in the subject line of business.  This is a specialized mfr of drums, drum sets, symbals, other.  Clients include musical instruments mfrs, musical instruments stores, other.  Goods are also sold online.

 

 

FINANCIAL INFORMATION

           

            Financial are only partially disclosed as is the case with family-based companies.

 

The sales volume for Jun/2011 fiscal term amounted to Yen 38 million, a 3% up from Yen 37 million in the previous term.  The net profit was posted at Yen 1 million, compared with Yen 2 million net losses a year ago.

 

            For the current term ending Jun 2012 the net profit is projected at Yen 2 million, on a 5% rise in turnover, to Yen 40 million.  Orders from schools for concerts are increasing, says the firm. 

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  The proposed amount, however, is considered TOO HIGH from the recent financial status. 

 

REGISTRATION

 

Date Registered:  Jul 1977

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:        144,000 shares

Issued:                36,000 shares

Sum:                   Yen 18 million

Major shareholders (%): Kotaro Negi & Kyoko Negi (--100)

No. of shareholders: 2

 

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

 

 

 

 

OPERATION

           

Activities: Manufactures musical instruments: drums, drum sets (high-impact drum sets, regular drum sets), concert drums, marching drums, symbals, other (--100%).  Goods are also made to order.  Goods are sold online, too.

 

Clients: [Musical instruments mfrs, wholesalers, schools] Kawai Musical Instruments Mfg Co, Suzuki Musical Instruments Mfg Co, other.

No. of accounts: 300

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Kawai Musical Instruments Mfg Co, Kowa Die-Cast, Sawane Spring, Uchida Co, Kifutani Music, Ooishi Seisakusho, other

 

Payment record: Slow

 

Location: Business area in Hamamatsu, Shizuoka-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

Shizuoka Bank (Naruko)

Hamamatsu Shinkin Bank (Honcho)

Relations: Satisfactory

 

 

FINANCES

 (In Million Yen)

 

Terms Ending:

　

30/06/2012

30/06/2011

30/06/2010

30/06/2009

Annual Sales

　

40

38

37

43

Recur. Profit

　

　

　

　

　

Net Profit

　

2

1

-2

1

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

41

40

38

Capital, Paid-Up

　

　

18

18

18

Div.P.Share(₯)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.26

2.70

-13.95

-4.44

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

5.00

2.63

-5.41

2.33

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 30/06/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.72

UK Pound

1

Rs.86.98

Euro

1

Rs.70.64

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.