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Report No. : |
324528 |
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Report Date : |
27.05.2015 |
IDENTIFICATION DETAILS
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Name : |
KAMO BROTHER MUSIC CENTER LTD |
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Registered Office : |
3528-7 Otacho Minokamo City Gifu-Pref 505-0041 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
July 1956 |
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Legal Form : |
Limited Partnership Company |
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Line of Business : |
Retail of musical instruments (guitar, bass, drums, other) |
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No of Employees : |
2 |
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 : |
Small Company |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused the economy to contract during the 2nd and 3rd quarters of 2014. The economy has largely recovered in the three years since the disaster, but reconstruction in the Tohoku region has been uneven due to labor shortages. 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 2014 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 government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which amounts to more than 240% 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 2015, although the government in 2014 decided to postpone the final phase of the increase until 2017 to give the economy time to recover from the 2014 increase. 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.
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Source
: CIA |
KAMO
BROTHER MUSIC CENTER LTD
GK Kamo Music Center
3528-7 Otacho Minokamo City Gifu-Pref
505-0041 JAPAN
Tel: 0574-26-1905 Fax: 0574-25-2258
URL: http://www.kamobrother.com
E-Mail address: mail@kamobrother.com
Retail of musical instruments
(guitar, bass, drums, other)
At the caption address (Retail
shop)
USA
AKINORI OZAKI, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 95 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen
192 M*
TREND UP WORTH Yen 192 M
STARTED 1959 EMPLOYES 2
*.. Expressed by the net worth
figures
RATAILER OF MUSICAL INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company is a retailer of
musical instruments: guitars, bass, amplifiers, pedals, other. Goods are imported from USA, where the firm
has a branch office, other.
Financials are disclosed only
partially.
The sales volume for Jun/2014 fiscal
term amounted to Yen 95 million, a 1% up from
Yen 94 million in the previous term. The net profit was posted at Yen 8 million,
similarly in the last period.
For the current term ending Jun 2015
the net profit is projected at Yen 9 million, on a 2% rise in turnover, to Yen
97 million.
The financial situation is
considered RATHER WEAK but should be good for MODERATE business
engagements.
Date Registered:
Jul
1959
Legal Status: Limited Partnership Company (Goshi
Kaisha)
Net Worth: Yen
192 million
Major shareholders (%): Akinori Ozeki, other
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
Activities:
Imports and retails musical instruments: guitars, bass, amplifiers, pedals,
drums, percussion instruments, other (--100%)
Clients:
Individual consumers, other
No. of accounts: Unavailable
Domestic areas of activities:
Centered in Gifu-Pref
Suppliers:
[Mfrs, wholesalers] Yamaha Corp, Ahiba Co, Yamano Music Co, other
Payment record: Slow But Correct
Location:
Business area in Minokamo City, Gifu-Pref.
Office premises at the caption address are owned and maintained
satisfactory.
Bank References:
Juroku
Bank (Minokamo)
Tono
Shinkin Bank (Minokamo)
Relations:
Satisfactory
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Terms Ending: |
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30/06/2015 |
30/06/2014 |
30/06/2013 |
30/06/2012 |
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Annual Sales |
|
97 |
95 |
94 |
95 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
9 |
8 |
8 |
8 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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192 |
184 |
176 |
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Capital, Paid-Up |
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192 |
184 |
176 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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2.11 |
1.06 |
-1.05 |
-5.00 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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|
.. |
.. |
.. |
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N.Profit/Sales |
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9.28 |
8.42 |
8.51 |
8.42 |
Notes: Financials are only
partially disclosed. Capital is
expressed by the net worth figures.
Forecast (or estimated) figures
for the 30/06/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.84 |
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|
1 |
Rs. 98.37 |
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Euro |
1 |
Rs. 69.64 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
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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 |
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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.