|
Report No. : |
317240 |
|
Report Date : |
13.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
HOT LINE MUSIC CORPORATION |
|
|
|
|
Registered Office : |
Sumitomo Chemical Engineering Center Bldg 24F, 1-7-1 Nakase Mihamaku Chiba 261-0023 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
28.02.2015 |
|
|
|
|
Date of Incorporation : |
Oct., 1990 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, Export and Wholesale of Musical Instruments (Guitar, Piano) |
|
|
|
|
No. of Employees : |
5 |
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 |
|
Maximum Credit Limits : |
Yen 103.2 Million |
|
|
|
|
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 – 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 |
HOT LINE MUSIC CORPORATION
REGD NAME: Hot Line Music KK
MAIN OFFICE: Sumitomo Chemical Engineering
Center Bldg 24F, 1-7-1 Nakase Mihamaku Chiba 261-0023
JAPAN
Tel: 043-350-1001 Fax: 043-350-1007
URL: http://www.hotlinemusic.co.jp
E-Mail address: (Thru the URL)
Import, export, wholesale
of musical instruments (guitar, piano, etc)
Chiba, Matsumoto
(-- Logistic center)
China (Partners)
MOTOTSUGU
SHIMAMURA, PRES
Toshiaki Hirose,
rep dir
Satoko Shimamura,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 5,600 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 20 M
TREND UP WORTH Yen
532 M
STARTED 1990 EMPLOYES 5
TRADING FIRM, OWNED BY SHIMAMURA MUSIC CO.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 103.2 MILLION, ON 30 DAYS NORMAL TERMS.
The subject
company was established originally in 1988 by Shimamura Music Co (See REGISTRATION) as its trading division, and was incorporated in 1990. This is a trading
firm for import, export and wholesale of musical instruments (guitar, piano, etc). 99% of the goods
are shipped to the parent, Shimamura Music.
Goods are imported from USA, Europe, S/E Asia, other.
Financials are consolidated by the parent and only partially disclosed.
The sales volume
for Feb/2014 fiscal term amounted to Yen 5,600 million, a 4% up
from Yen 5,400
million in the previous term. The net
profit was posted at Yen 55 million, compared with Yen 54 million a year ago.
For the term that
ended Feb 2015 the net profit was projected at Yen 57 million, on a 5% rise in
turnover, to Yen 5,900 million. Final
results are yet to be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 103.2
million, on 30 days normal terms.
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 (100)
*.. Retailer of
musical instruments, Tokyo, founded 1969, capital Yen 100 million, sales Yen 30,169 million, net profit Yen 289
million, employees 540, pres Toshiaki Hirose
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of musical instruments (guitar, piano, other),
other (--100)
Clients: [Mfrs,
wholesalers] Shimamura Music Co (99%), other
No. of accounts: 10
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from USA, Europe, S/E Asia, other
Payment
record: No Complaints
Location: Business area in Chiba. Office premises at
the caption address are leased and maintained satisfactory.
Bank
References:
SMBC (Kameido)
Mizuho Bank
(Hirai)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
28/02/2015 |
28/02/2014 |
28/02/2013 |
29/02/2012 |
|
Annual
Sales |
|
5,900 |
5,600 |
5,400 |
5,500 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
57 |
55 |
54 |
55 |
|
Total
Assets |
|
|
N/A |
2,013 |
N/A |
|
Net
Worth |
|
|
532 |
494 |
456 |
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.36 |
3.70 |
-1.82 |
-15.38 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
24.54 |
.. |
|
N.Profit/Sales |
|
0.97 |
0.98 |
1.00 |
1.00 |
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 28/02/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.