MIRA INFORM REPORT

 

 

Report No. :

314741

Report Date :

10.04.2015

 

IDENTIFICATION DETAILS

 

Name :

QUEST MUSIC WORKS K.K.

 

 

Registered Office :

306 Central pavilon Zazacity, 100-1 Kajicho Nakaku, Hamamatsu city, Shizuoka, 430-0933

 

 

Country :

Japan

 

 

Financials (as on) :

31.05.2014

 

 

Date of Incorporation :

July 1999

 

 

Com. Reg. No.:

0804-01-001485

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Selling/Renting business of musical instruments and management of a music school and a live music club.

 

 

No. of Employees :

7

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

Payment Behaviour :

Slow but correct

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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. 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

 

 

Company name & address

 

ENGLISH COMPANY NAME

QUEST MUSIC WORKS K.K.

Japanese company name

QUEST MUSIC WORKS KK

Registered Office

1. Street Number and District

306 Central pavilon Zazacity, 100-1 Kajicho Nakaku

2. City and Perefecture

Hamamatsu city, Shizuoka

3. ZIP Code

430-0933

4. Country

JAPAN

TEL

053-452-5152

FAX

053-450-3404

URL

www.questmusic.co.jp/

Email Address

thru the URL

Activities (Services & Products)

Selling/Renting business of musical instruments and management of a music school and a live music club.

 

 

 

 

 

SUMMARY OF REPORT

Annual Sales (MM YEN)

150

Capital Amount (MM YEN)

10

Net Worth (MM YEN)

Unavailable

FINANCES

FAIR

TREND

STABLE

EMPLOYEES

7

OTHER INFORMATION FOLLOWS:

Year Started

1999

Year Registered

Jul. 1999

Regd No.

0804-01-001485

Legal Status

Limited Company (Kabushikikaisha)

Major Shareholders

1

Shinichiro Suzuki (100%)

Number of Shareholders

1

Authorized Shares

800

Issued Shares

200

　 Sum(MM)

10

Executives

PRESIDENT

SHINICHIRO SUZUKI

Director

Masako Sezaki

Director

Kenji Suzuki

Main Banks

1

Shizuoka Bank (Hamamatsu)

2

Resona Bank (Hamamatsu)

Relations

Satisfactory

Clients

1

General custmors

2

General companies

3

Local incorporated educational institution

4

AAP Co., Ltd.

5

Other

Suppliers

1

Roland Corporation

2

YAMAHA Corporation

3

Yamano Music Corporation

4

KORG Inc.

5

Other

Branches

1

Hamamatsu,Shizuoka (store/the same as caption address)

2

Hamamatsu,Shizuoka (music school)

3

Hamamatsu,Shizuoka (live music club)

Factories

1

None

Overseas

1

None

HIGHLIGHT and COMMENT

The subject company sells new/used/vintage musical instruments such as acoustic guitars, electric guitars, electric guitar bases, amplifiers, pianos and drums, etc. A part of electric guitars are imported from overseas. It also rents its musical instruments as well as manages a music school and a live music club in Hamamatsu city, Shizuoka.

FINANCIAL information

Financials are disclosed only partially.

 The sales volume for May/2014 fiscal term amounted to Yen 150 million, flat from Yen 150 million in the previous term.  The net profit amounted at Yen 2 million which is stable from Yen 2 million in 2013.

 For the current term ending May 2015, the net profit at Yen 2 million is estimated based on a 2% rise in turnover, to Yen 153 million.  Final results are yet to be released.

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

PLEASE ATTACH THE FINANCIALS BELOW.

Terms Ending:

31/05/2015

31/05/2014

31/05/2013

31/05/2012

Annual Sales

153

150

150

190

Recur. Profit

..

..

..

..

Net Profit

2

2

n/a

-1

Total Assets

 

 

 

 

Net Worth

 

 

 

 

Capital, Paid-Up

 

 

 

 

Div.P.Share(¥)

 

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

2.00

0.00

-21.05

#DIV/0!

       Current Ratio

 

..

..

..

       N.Worth Ratio

 

..

..

..

       N.Profit/Sales

1.31

1.33

#VALUE!

-0.53

 

 

FILENAME (ENGLISH TITLE)

 

 

 

 

Terms Ending:

31/05/2015

31/05/2014

31/05/2013

31/05/2012

31/05/2011

31/05/2010

Annual Sales

153

150

150

190

 

Recur. Profit

..

..

..

..

..

Net Profit

2

2

n/a

-1

 

Total Assets

 

 

 

 

 

Net Worth

 

 

 

 

#VALUE!

#VALUE!

Capital, Paid-Up

 

 

 

 

 

Div.P.Share(¥)

 

0.00

0.00

0.00

 

<Analytical Data>

(%)

(%)

(%)

(%)

(%)

(%)

       S.Growth Rate

2.00

0.00

-21.05

#DIV/0!

#DIV/0!

#DIV/0!

       Current Ratio

 

..

..

..

..

..

       N.Worth Ratio

 

..

..

..

..

..

       N.Profit/Sales

1.31

1.33

#VALUE!

-0.53

#DIV/0!

#DIV/0!

 

 

 

 

 

 

 

S/Hldrs' Equity

-2

#VALUE!

#VALUE!

#VALUE!

Div or Taxes

Offs' Bonus

Current Assets

Current Liabs

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.26

UK Pound

1

Rs.92.49

Euro

1

Rs.66.99

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

               


 

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.