|
Report Date : |
05.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
HOUSE HOLDINGS INC |
|
|
|
|
Registered Office : |
14-3 Shinizumi Narita |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
Feb 1994 |
|
|
|
|
Com. Reg. No.: |
0400-01-042891 (Chiba-Narita) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Import, export and wholesale of commercial use audio/visual equipment, musical instruments, stage lightings etc. |
|
|
|
|
No. of Employees : |
2 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
HOUSE HOLDINGS INC
REGD NAME: KK
House Holdings
MAIN OFFICE: 14-3
Shinizumi Narita Chiba-Pref 286-0825 JAPAN
Tel:
0476-89-1111 Fax: 0476-89-2222
URL: http://www.soundhouse.co.jp
E-Mail
address: (thru the URL)
Holding
company of House Group firms
(Import, export and
wholesale of commercial use audio/visual equipment, musical instruments, stage
lightings etc.)
Nil
Net
House Inc (USA)
NAOHIKO
NAKAJIMA, PRES
ICHIRO
EO, PRES OF SOUND HOUSE INC
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 8,000 M
PAYMENTS
REGULAR CAPITAL Yen 275 M
TREND UP WORTH Yen 3,304 M
STARTED 1994 EMPLOYES 2
HOLDING COMPANY OF HOUSE GROUP FIRMS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established originally as KK Sound House for importing musical
instruments from USA, and in Nov 2009 restructured and reorganized to make it a
holding company of the House Group firms, and renamed as captioned. Under the firm there are main five firms:
Sound House Inc, Furniture House Inc, Fitness House Inc, Net House Inc and Imai
Print Corp. Sound House Inc* is the core
of the group firms.
Sound House Inc, import, export and
wholesale of commercial use audio/visual equipment, musical instruments, stage
lightings, other, at the caption address, founded Nov 2009, capital Yen 390
million, sales Yen 7,000 million, net profit Yen 350 million, employees 140,
pres Ichiro Eo
Financials
are only partially disclosed.
The sales volume for Dec/2011 fiscal
term amounted to Yen 8,000 million, a 14% up from Yen 7,000 million in the
previous term. This is the result of the
said reorganization. The net profit was
posted at Yen 250 million, compared with Yen 350 million a year ago.
For the
current term ending Dec 2012 the net profit is projected at Yen 270 million, on
a 6% rise in turnover, to Yen 8,500 million.
Business is seen steadily expanding.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Feb 1994
Regd No.: 0400-01-042891 (Chiba-Narita)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
9,600 shares
Issued:
5,080 shares
Sum: Yen 275 million
Major shareholders (%): Naohiko Nakajima (85)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Holding company of House Group firms,
offering management, consultancy, investment management, capital funding, other
(--100%)
Clients: [Mfrs, wholesalers] Sound House Inc,
Furniture House Inc, Fitness House Inc, Net House Inc, Imai Print Corp,
other
No. of
accounts: Limited
Domestic areas of activities:
Nationwide
Suppliers: Mfrs, wholesalers, other
Payment record: Regular
Location:
Business area in Narita. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Chiba
Bank (Narita)
MUFG
(Chiba)
Relations:
Satisfactory
(In Million Yen)
|
|
|
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Annual
Sales |
|
8,500 |
8,000 |
7,000 |
6,207 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
270 |
250 |
350 |
275 |
|
Total
Assets |
|
|
N/A |
N/A |
9,127 |
|
Net
Worth |
|
|
3,304 |
3,129 |
2,884 |
|
Capital,
Paid-Up |
|
|
275 |
275 |
275 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.25 |
14.29 |
12.78 |
-19.63 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
31.60 |
|
|
N.Profit/Sales |
3.18 |
3.13 |
5.00 |
4.43 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.97 |
|
|
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.67.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.