MIRA INFORM REPORT

 

Revised report

 

 

Report Date :

16.05.2012

 

IDENTIFICATION DETAILS

 

Name :

KANDA SHOKAI CORPORATION

 

 

Registered Office :

Kanda Shokai Bldg, 3-4-2 Kanda-Kajicho Chiyodaku Tokyo 101-0045

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

August 1948

 

 

Com. Reg. No.:

0100-01-013586 (Tokyo-Chiyodaku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of musical instruments

 

 

No. of Employees :

80

 

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

 

KANDA SHOKAI CORPORATION

 

 

REGD NAME 

 

KK Kanda Shokai

 

 

MAIN OFFICE

 

Kanda Shokai Bldg, 3-4-2 Kanda-Kajicho Chiyodaku Tokyo 101-0045 JAPAN

Tel: 03-3254-3641      Fax: 03-3254-3618

                                               

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

E-Mail address:            (thru the URL)

 

 

ACTIVITIES

 

Import, wholesale of musical instruments

 

 

BRANCHES

 

Osaka, Sapporo, Toda

 

 

FACTORIES

 

Toda (warehouse)

 

 

OFFICERS

 

TSUTOMU YOKOYAMA, PRES                                                 

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES        FAIR                             A/SALES          Yen 3,800 M

PAYMENTS No Complaints   CAPITAL           Yen 48 M

TREND SLOW                          WORTH            Yen 1,764 M

STARTED         1946                             EMPLOYES      80

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN MUSICAL INSTRUMENTS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

The subject company was established originally in 1946 by father of Tsutomu Yokoyama

 

In order to make most of his experience in the subject line of business, on his account.  Incorporated in 1948 the firm has been succeeded by his descendants.  This is a trading firm specializing in import and wholesale of musical instruments, centering in guitars, other.  Clients include musical instruments shops, wholesalers, other, nationwide.

 

 

FINANCIAL INFORMATION

 

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

 

The sales volume for Mar/2011 fiscal term amounted to Yen 3,800 million, a similar amount in the previous term.  The net profit was posted at Yen 50 million, similarly in the previous term.

 

For the term that ended Mar 2012 the net profit was projected at Yen 55 million, on a 3% rise in turnover, to Yen 3,900 million.  Final results are yet to be released. 

 

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

 

 

REGISTRATION

 

Date Registered:           Aug 1948

Regd No.             0100-01-013586 (Tokyo-Chiyodaku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         384,000 shares

Issued:                96,000 shares

Sum:                   Yen 48 million

 

Major shareholders (%): Tomotoshi Kojima (15), Kazumasa Kurokawa (13), Music Land Inc (10), Masayuki Suzuki (9)

 

No. of Shareholders: 15

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

           

Activities: Imports and wholesales musical instruments: electric guitars, electric basses, acoustic guitars, ukuleles, drums & percussion, guitar amplifiers, bass amplifiers, effectors, music toys, pickups, parts, cases & bags, strings, accessories (--100%)

 

Clients: [Music instruments stores, wholesalers] Ishibashi Music Corp, Shinseido Co, Music Land Co, Miki Gakki Co, Yamano Music Co, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Kanda Music Trading, Dyna Gakki Co, Hibino Corp, Tokai Gakki, other

 

Payment record: No Complaints

 

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

 

Bank References:

MUFG (Kanda-Ekimae)

Mizuho Bank (Kanda-Ekimae)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

3,900

3,800

3,800

4,000

Recur. Profit

　

　

　

　

　

Net Profit

　

55

50

50

60

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

1,764

1,714

1,664

Capital, Paid-Up

　

　

48

48

48

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.63

0.00

-5.00

-16.70

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

1.41

1.32

1.32

1.50

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/03/2012 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.84

UK Pound

1

Rs.86.72

Euro

1

Rs.69.17

 

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.