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Report Date : |
07.12.2013 |
IDENTIFICATION DETAILS
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Name : |
NAKANO CO LTD |
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Registered Office : |
Yanagibashi 2-Chome Bldg, 2-16-22 Yanagibashi Taitoku
Tokyo 110-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2012 |
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Date of Incorporation : |
August, 1967 |
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Com. Reg. No.: |
0105-01-010757 (Tokyo-Taitoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of musical instruments attachments, accessories |
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No. of Employees : |
9 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 |
|
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 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 |
NAKANO CO LTD
REGD NAME: KK Nakano
MAIN OFFICE: Yanagibashi 2-Chome Bldg, 2-16-22 Yanagibashi
Taitoku Tokyo 110-0052
JAPAN
Tel: 03-3863-1558 Fax:
03-3851-3778
E-mail Address: info@nakano-music.co.jp
Import, wholesale of musical instruments attachments, accessories
Higashi-Osaka
SADAAKI NAKANO, PRES
Makoto Nakano, s/mgn dir
Kikuko Nakano, dir
In million Yen, unless otherwise stated
SUMMARY:
FINANCES FAIR A/SALES Yen 517 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 10 M
TREND SLOW WORTH Yen 98 M
STARTED 1967 EMPLOYES 9
WHOLESALER SPECIALIZING IN MUSICAL INSTRUMENTS ATTACH
MENTS AND ACCESSORIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
The subject company was established by Shoji Nakano in order to make
most of his experience in the subject line of business. Sadaaki is his son. The firm, owned and operated essentially by
the Nakano family, specializes in wholesale of musical instruments attachments
& accessories. Goods are also
imported. Teakwood-based percussion
instruments are being much in demand.
Clients include major musical instruments makers, musical hall operators,
other.
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Jul/2012 fiscal term amounted to Yen 517 million, a
similar amount 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 term that ended Jul 2013 the net profit was projected at Yen 2
million, on a 3% rise in turnover, to Yen 535 million. Final results are yet to be released.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 9.3 million, on 30 days normal terms.
Date Registered: Aug
1967
Regd No.: 0105-01-010757
(Tokyo-Taitoku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 800 shares
Issued:
200 shares
Sum: Yen
10 million
Major shareholders
(%): Shoji Nakano (65),
Kikuko Nakano (24), Makoto Nakano (7),
Sadaaki Nakano (4)
No. of shareholders: 4
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Wholesales
and imports musical instruments attachments & accessories, intellectual
instruments, others (--100%).
Clients: Piano
makers, musical hall operators, wholesalers] Yamaha Corp, Maruzen Co, Toys”R”US
Japan, Kawai Musical Instruments Mfg, Suntory Hall, Zen-On Music Co, Itoya,
Sony Plaza, ZEN-ON Co, Suntory Hall, Zen-On Music Co, Yamano Music, other.
No. of accounts:
400
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Iwata Ryo, Seiki
Instruments, Minoru Kogei, Nihon Senden Pencil, Kyoshin, The Sailor Pen,
other.
Also imports from
India, China
Payment record: Slow but correct
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Kojimachi))
SMBC
(Ueno)
Relations:
Satisfactory
|
Terms Ending: |
|
31/07/2013 |
31/07/2012 |
31/07/2011 |
31/07/2010 |
|
Annual Sales |
|
535 |
517 |
517 |
616 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
2 |
1 |
-2 |
1 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
98 |
97 |
99 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.48 |
0.00 |
-16.07 |
-3.75 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.37 |
0.19 |
-0.39 |
0.16 |
|
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/07/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.67 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.