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Report Date : |
19.04.2014 |
IDENTIFICATION DETAILS
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Name : |
KANDA SHOKAI CORPORATION |
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Registered Office : |
Kanda Shokai Bldg, 3-4-2 Kanda-Kajicho Chiyodaku Tokyo 101-0045 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
Aug 1948 |
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Com. Reg. No.: |
0100-01-013586 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of musical instruments |
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No. of Employees |
80 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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. Prime
Minister Shinzo ABE has declared the economy his government's top priority; he
has overturned his predecessor's plan to permanently close nuclear power plants
and is pursuing an economic revitalization agenda of fiscal stimulus, monetary
easing, and structural reform. Japan joined the Trans Pacific Partnership
negotiations in 2013, a pact that would open Japan's economy to increased foreign
competition and create new export opportunities for Japanese businesses.
Measured on a purchasing power parity (PPP) basis that adjusts for price
differences, Japan in 2013 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 is exceeding 230% of GDP. To help raise government revenue and
reduce public debt, Japan decided in 2013 to gradually increase the consumption
tax to a total of 10% by the year 2015. Japan is making progress on ending
deflation due to a weaker yen and higher energy costs, but reliance on exports
to drive growth and an aging, shrinking population pose other major long-term
challenges for the economy.
|
Source
: CIA |
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)
Import, wholesale of musical instruments
Osaka, Sapporo, Toda
Toda (Distribution Center)
TSUTOMU YOKOYAMA, PRES Satoshi
Sakurai, rep dir
Shinji Takizawa, dir Yoshitomo
Shigeta, dir
Naoki Asahi, dir Hirokuni
Suzuki, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,690 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 48 M
TREND SLOW WORTH Yen 1,849 M
STARTED 1946 EMPLOYES 80
TRADING FIRM SPECIALIZING IN MUSICAL INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED FAIR ND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was
established originally in 1946 by father of Tsutomu Yokoyama, on his account,
in order to make most of his experience in the subject line of business. Incorporated in 1948 the firm has been
succeeded by his descendants. Tsutomu
took the office of pres in Jun 2008.
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 are only partially
disclosed as is the case with family-based companies.
The sales volume for Mar/2013
fiscal term amounted to Yen 3,690 million, a 3% down from Yen 3,800 million in
the previous term. The net profit was
posted at Yen 40 million, compared with Yen 45 million a year ago.
For the term that ended Mar 2014
the net profit was projected at Yen 45 million, on a 3% rise in turnover, to
Yen 3,800 million. Final results are yet
to be released.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
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.
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, Shimamura Music Co, Ikebe Gakki Co, ESP, Aviva Co, Suzuki
Violin Co, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Kanda Music
Trading, Dyna Gakki Co, Hibino Corp, Tokai Gakki, Suzuki Violin Co, 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
(In Million Yen)
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual Sales |
|
3,800 |
3,690 |
3,800 |
3,800 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
45 |
40 |
45 |
45 |
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Total Assets |
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|
N/A |
N/A |
N/A |
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Net Worth |
|
|
1,849 |
1,809 |
1,764 |
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Capital, Paid-Up |
|
|
48 |
48 |
48 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.98 |
-2.89 |
0.00 |
0.00 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
1.18 |
1.08 |
1.18 |
1.18 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2014 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.38 |
|
UK Pound |
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.