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Report Date : |
27.08.2013 |
IDENTIFICATION DETAILS
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Name : |
HOTLINE MUSIC CO LTD |
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Registered Office : |
Sumitomo Chemical Engineering Bldg 24F, 1-7-1 Mihamaku Chiba 261-0023 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
October 1990 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer and wholesalers of musical instruments such as guitars, bass guitars, amplifiers, brass instruments, wood winds, string instruments, piano, digital instruments. |
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No. of Employees : |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
No complaints |
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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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 small agricultural sector is highly subsidized and
protected, with crop yields among the highest in the world. While
self-sufficient in rice production, Japan imports about 60% of its food on a
caloric basis. 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. Modest economic growth continued after
2000, but the economy has fallen into recession three times since 2008. A sharp
downturn in business investment and global demand for Japan's exports in late
2008 pushed Japan 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 and the ensuing tsunami in March
disrupted manufacturing. The economy has largely recovered in the two years
since the disaster, but reconstruction in the Tohoku region has been uneven.
Newly-elected Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has pledged to reconsider his predecessor's plan
to permanently close nuclear power plants and is pursuing an economic
revitalization agenda of fiscal stimulus and regulatory reform and has said he
will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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 |
Company
name
HOTLINE MUSIC CO LTD
Hotline Music KK
Sumitomo Chemical
Engineering Bldg 24F, 1-7-1 Mihamaku Chiba 261-0023JAPAN
Tel: 043-350-1001 Fax: 043-350-1007
URL: www.hotline.co.jp
E-mail: info@hotline.co.jp
Import,
wholesale of musical instruments
Chiba,
Matsumoto (--distribution centers)
MOTOTSUGU
SHIMAMURA, PRES
Toshiaki
Hirose, rep dir
Satoko
Shimamura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 6,400 M
PAYMENTSno complaints CAPITAL Yen 20 M
TREND SLOW WORTH Yen 494 M
STARTED 1990 EMPLOYES 5
TRADING FIRM SPECIALIZING IN MUSICAL INSTRUMENTS, OWNED BY SHIMAMURA MUSIC CO LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established on the basis of a trading division separated from Shimamura Music Co Ltd, at the caption address (See REGISTRATION). This is a trading firm specializing in import, export and wholesale of musical instruments. Goods are wholly shipped to the parent, Shimamura Music Co Ltd, who operates 145 stores and music classes in 36 cities/prefectures nationwide.
Financials are only partially disclosed.
The sales volume for Feb/2013 fiscal term amounted to Yen 6,400 million, a 2% down from Yen 6,500 million in the previous term. The net profit was posted at Yen 154 million, compared with Yen 100 million a year ago. .
For the current term ending Feb 2014 the net profit was projected at Yen 55 million, on a 3% rise in turnover, to Yen 6,600 million. .
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Oct 1990
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,600 shares
Issued: 400 shares
Sum: Yen 20
million
Major shareholders (%):
Shimamura Music Co Ltd* (100)
*.. Retailer of musical instruments and operator of music classes, Tokyo, founded 1969, capital Yen 100 million, sales Yen 29,210 million, net profit Yen 266 million, employees 500, pres Toshiaki Hirose
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales musical instruments: guitars, bass guitars, amplifiers, brass instruments, wood winds, string instruments, piano, digital instruments, other (--100%)
Clients: [Retailer] Supplied wholly to the parent, Shimamura Music Co Ltd
No. of accounts: 1
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from USA, Europe, Asia, other.
Domestically supplied from: Roland Corp, Korg Inc, Moridaira Musical Instruments, other
Payment record: no Complaints
Location: Business area in Tokyo. Office premises at the caption address are owned by the parent, Shimamura Music Co Ltd, and maintained satisfactorily.
Bank References:
SMBC (Kameido)
Mizuho Bank (Hirai)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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28/02/2014 |
28/02/2013 |
31/07/2012 |
31/07/2011 |
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Annual
Sales |
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6,600 |
6,400 |
6,500 |
6,490 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
55 |
54 |
100 |
127 |
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Total
Assets |
|
|
2,013 |
N/A |
N/A |
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Net
Worth |
|
|
494 |
440 |
340 |
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Capital,
Paid-Up |
|
|
20 |
20 |
20 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
3.13 |
-1.54 |
71.60 |
3.39 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
24.54 |
.. |
.. |
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N.Profit/Sales |
0.83 |
0.84 |
1.54 |
1.96 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.23 |
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UK Pound |
1 |
Rs.100.01 |
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Euro |
1 |
Rs.85.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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---- |
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.