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Report No. : |
319122 |
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Report Date : |
27.04.2015 |
IDENTIFICATION DETAILS
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Name : |
IKEBE GAKKI CO., LTD. |
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Registered Office : |
2F Hayakawa Bdg, 45 Kanda-Sakumagashi, Chiyoda-ku, Tokyo 101-0026 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2014 |
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Date of Incorporation : |
July, 1975 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import and Sale of Musical Instruments and Musical Related Products,
Other. |
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No. of Employees : |
23 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limits : |
Yen 57.5 Million |
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Status : |
Satisfactory |
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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 – 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 |
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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 |
IKEBE
GAKKI CO., LTD.
REGD NAME: KK
Ikebe Gakki
MAIN
OFFICE: 2F Hayakawa Bdg, 45 Kanda-Sakumagashi,
Chiyoda-ku, Tokyo 101-0026, JAPAN
Tel: 03-3862-1421 Fax: 03-3862-8840
*..Registered at:
1-36-1 Higashi Ikebukuro Toshima-ku Tokyo
URL: http://www.ikebe-gakki.com
E-Mail address: (thru the URL)
Import and sale of
musical instruments and musical related products, other
Ikebukuro,
Shibuya, Akihabara, Osaka
None
None
HARUHIKO IKEBE,
PRES Sonoko
Ikebe, dir
Makoto Ikebe,
dir Kenji Onizuka, dir
Tsutomu Yokoyama, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 9,660 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen 30 M
TREND SLOW WORTH Unavailable
STARTED 1975 EMPLOYES 23
THE FIRM SPECIALIZING IN IMPORT & SALE OF MUSICAL INSTRUMENTS & MUSIC RELATED PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 57.5 MILLION, ON 30 DAYS NORMAL TERMS.
Ikebe Musical
Instruments Store was established in 1975 and is operating 30 stores in Japan. These shops provide various services to
customers such as selling new/second hand instruments, planning and development of its own brand, importing
vintage instruments from overseas and others.
Financials are
disclosed only partially.
The sales volume
for August 2014 fiscal term amounted to Yen 9,660 million, a 2.6% up from Yen 9,416
million in the previous term. The net
profit at Yen 77 million* is a 2.6% up compared with Yen 75 million net profit
a year ago.
For the current
term ending August 2015, the net profit is estimated at Yen 78 million on a 2%
rise in turnover, to Yen 9,853 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 57.5 million, on 30
days normal terms.
*Net profit in the fiscal year of 2014 is estimated as it has not been
disclosed.
Date Registered: Jul
1975
Regd No.:
Unavailable
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: Unavailable
Issued: 60,000
shares
Sum: Yen
30 million
Major
shareholders (%): Haruhiko
Ikebe(52%), Kanda Shokai(30%), Ikebe Gakki(15%) Sonoko Ikebe(3%)
No.
of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities:
Sales of new/secondhand musical instruments and music related products
at its own retail shops + online shop.
Develop, plan, manufacture and wholesale of the house-brand
products. (Noah’sark, Heartman.Rock
House, WSR, Jungle, other)
Import of musical instruments and music related products.
(Overseas brand, used, vintage musical instruments)
Operate a rehearsal studio, a recording studio and a music club.
Clients: [Mfrs,
wholesalers] General Customers, Music Production Company
No. of accounts: Unavailable
Domestic areas of activities: Tokyo and
Osaka
Suppliers: [Mfrs,
wholesalers] Gibson Guitar Co Japan, Yamano –music Co, Yamaha Co, Kanda shoukai
Co, Korg Inc, Roland Co, Esp Co
Payment
record: Slow but correct
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactory.
Bank
References:
RESONA BANK (Ueno)
MUFG (Akihabara)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/08/2015 |
31/08/2014 |
31/08/2013 |
31/08/2012 |
|
Annual
Sales |
|
9,853 |
9,660 |
9,416 |
706 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
78 |
77 |
75 |
0 |
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Total
Assets |
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Net
Worth |
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Capital,
Paid-Up |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.00 |
2.59 |
1,233.71 |
-92.49 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
0.80 |
0.80 |
0.80 |
-0.06 |
Notes: Financials are only partially disclosed.
Forecast (or
estimated) figures for the 31/08/2015 fiscal term Estimate used for 2014 net
profit.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.68.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
|
|
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 |
|
|
-- |
NB |
New Business |
-- |
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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.