|
Report No. : |
313616 |
|
Report Date : |
31.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
ISHIBASHI MUSIC CORPORATION |
|
|
|
|
Registered Office : |
Kandaogawa-cho 2-14 OS Bldg, Chiyoda-ku, Tokyo 101-0052 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.05.2015 |
|
|
|
|
Date of Incorporation : |
June 1979 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in Import and sale of musical instruments and its related products. |
|
|
|
|
No. of Employee : |
176 |
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 |
|
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 |
ISHIBASHI MUSIC CORPORATION
REGD NAME: KK
Ishibashi Music
MAIN OFFICE: Kandaogawa-cho
2-14 OS Bldg, Chiyoda-ku, Tokyo 101-0052 JAPAN
Tel: 03-3291-7991
Fax: 03-3291-7998
*Registration
address is 2-2-2 Kandasuruga-dai, Chiyoda-ku, Tokyo
URL: http://www.ishibashi.co.jp
E-Mail address: (thru the URL)
Import and sale of
musical instruments and its related products, other
KIYOKAZU
ISHIBASHI, PRES Minoru Ishibashi, vp
Katsunori Ishibashi,
dir Masaharu Enomoto, dir
Tetsuo
Muto, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 11,359 M
PAYMENTS NO CMPLAINTS CAPITAL Yen
300 M
TREND STABLE WORTH
Unavailable
STARTED 1938 EMPLOYES 176
THE FIRM SPECIALIZING IN IMPORT & SALE OF
MUSICAL
INSTRUMENTS &
ITS RELATED PRODUCTS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
This is a company of import and sale of musical instruments and its
related products. Owns 16 shops in
Japan. It has a subsidiary company in
China. It is an exclusive agent/importer
and seller of overseas brand in U.S.A, Korea, Italy, U.K, other.
Financials are disclosed only partially.
The sales volume for May 2014 fiscal term amounted to *Yen 11,359
million, flat from Yen the previous term.
The net profit at *Yen 26 million is also flat from the previous year.
For the current term ending May 2015, sales and net profit are estimated
to be similar level in 2013 and 2014.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
*Sales and net
profit in 2014 are estimates.
Date
Registered: Jun 1979
Regd
No: Unavailable
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
Unavailable
Issued:
Unavailable
Sum:
Yen 313 million
Major shareholders (%): Ishibashi shoji, Kiyokazu Ishibashi, Minoru
Ishibashi, Tokyo Small & Medium Business Investment & Consultation Co.
No. of shareholders: 11
Nothing detrimental is known as to
the commercial morality of executives.
Activities:
Retail sales of
musical instruments and music related products.
Product
Categories: Electric and acoustic guitars, Drum Kits, Synthesizers, Digital Pianos,
Wind and Brass instruments, DJ gears, Professional Audio equipment, Recordings,
Sound booths, Software, Music scores, books, Manuals and many other items
related to music.
Business Unit:
1.
Retails shops for new/second hand instrument.
2.
Development of private instrument brand
3.
Online shops for new/secondhand instrument
4.
Operation of music schools
5.
Import of instrument and its related products
Clients: [Mfrs,
wholesalers] General Customers
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Gibson Guitar Co Japan, Roland Co, Yamaha Co, Kandashokai Co, Korg
Inc, Yamano-Music Co, Kyoritsu-group Com, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactory.
Bank
References:
MUFG (Kanda)
MIZUHO BANK (Kanda)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/05/2015 |
31/05/2014 |
31/05/2013 |
31/05/2012 |
|
Annual
Sales |
|
11,359 |
11,359 |
11,359 |
11,496 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
26 |
26 |
26 |
9 |
|
Total
Assets |
|
|
|
|
|
|
Net
Worth |
|
|
|
|
|
|
Capital,
Paid-Up |
|
|
|
|
|
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
0.00 |
0.00 |
-1.19 |
3.05 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
0.23 |
0.23 |
0.23 |
0.08 |
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/05/2015 and 2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.63 |
|
UK Pound |
1 |
Rs.92.94 |
|
Euro |
1 |
Rs.68.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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.