MIRA INFORM REPORT

 

 

Report Date :

17th June 2006

 

IDENTIFICATION DETAILS

 

Name :

LUCKY CO LTD

 

 

Registered Office :

2-10-12 Yuda Kofu City Yamanashi-Pref 400-0864 Japan

 

 

Country :

Japan

 

 

Financials (as on) :

31/12/2006 (Estimated)

 

 

Date of Incorporation :

Aug 1946

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Engaged in the business of manufacturing, imports and wholesales of jewelry products

 

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 Limit :

YEN 63.9 MILLION

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

NAME

 

LUCKY CO LTD

 

 

REGD NAME

 

KK Lucky Shokai

 

 

MAIN OFFICE

 

2-10-12 Yuda Kofu City Yamanashi-Pref 400-0864 JAPAN

Tel: 055-237-7272    

Fax: 055-237-7250

URL: http://www.j-lucky.co.jp/

E-Mail address: lucky@j-lucky.co.jp

 

 

ACTIVITIES

 

Mfg, import, wholesale of jewelry products

 

 

BRANCHES

 

Tokyo

 

 

FACTORY(IES)

 

 At the caption address

 

 

OVERSEAS

 

Dalian (China) (subsidiary mfr, founded 1988, capital Yen 50 million, employs 150)

 

 

OFFICER(S)

 

Masao Mochizuki, ch

NAOKI MOCHIZUKI, PRES

Mitsuhiro Fukazawa, s/mgn dir

 

 

Yen Amount

 

In million Yen, unless otherwise stated

 

 

SUMMARY          

 

FINANCES        FAIR                             A/SALES          Yen 3,500 M

PAYMENTS      REGULAR                     CAPITAL           Yen 10 M

TREND             SLOW                          WORTH            Yen 766 M

STARTED         1946                             EMPLOYES      53

 

 

COMMENT

 

MFR SPECIALIZING IN JEWELRY PRODUCTS.  FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$100,000 / O/A 120 DAYS.

MAX CREDIT LIMIT: YEN 63.9 MILLION, NORMAL 30 DAYS TERMS.

 

 

HIGHLIGHTS

 

The subject company was established originally in 1937 and was incorporated in 1946 by Masao Mochizuki.  Naoki is his son.  Specializes in mfg rings, pendants, pierced rings, bracelets, other jewelry products.  Placed third in terms of sales amount in the similar business line of 520 firms in Yamanashi-Pref.  Has a subsidiary mfg/processing yard in Dalian, China.  Goods are branded as “me” and retailed at about 200 in-shops in department stores, supermarkets, chain stores, etc, from Hokkaido down to Okinawa.  Goods are also retailed online.  Clients are major jewelry wholesalers, processors, mail order houses, etc, nationwide.  Financials are only partially disclosed.

 

The sales volume for Dec/2005 fiscal term amounted to Yen 3,500 million, a 1% down from Yen 3,536 million in the previous term.  Sales were sluggish due to slow recovery of consumer spending.  On the other hand, profits improved to register Yen 72 million net profit, a 44% increase from Yen 50 million a year ago.  Restructuring efforts to reduce mfg costs including imports.

 

For the current term ending Dec 2006 the net profit is projected at Yen 75 million, on a 4% rise in turnover, to Yen 3,650 million.  Recovery is seen in consumer spending.  Weaker Yen will also assist to lift sales in Yen terms.

 

The financial situation is considered FAIR to GOOD and responsible for ORDINARY business engagements.  Max credit limit is estimated at Yen 63.9 million, on normal 30 days terms.  The proposed amount is considered well within the firm’s financial capabilities.

 

 

REGISTRATION

 

Date Registered:            Aug 1946

Legal Status:                 Limited Company (Kabushiki Kaisha)

Authorized:                    800,000 shares

Issued:                          200,000 shares

Sum:                            Yen 10 million

Major shareholders (%): Masao Mochizuki (75), Yoshiko Mochizuki (15)

No. of shareholders: 7

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Manufactures precious/semi-precious stones-based fingerings, earrings, pendants, bracelets, pierced rings, and other jewelry products, branded as “me” (--100%).  Goods are manufactured at the own factory as well as the subsidiary factory in China, and imported.  Goods are retailed at about 200 in-shops in department stores, chain stores, supermarkets, etc, nationwide.  Also sold online and through mail-order houses.

 

Clients: [Jewelry stores, jewelry processors, chain stores, consumers] Citizen Watch, C’est Bien, Itokin Inc, Mitsubishi Materials, Sagami Co, Verite Co, Samantha Thavasa Japan Ltd, Nissen Co, Senshukai, Cecile Co, other.

No. of accounts: 1,000

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Sojitz Corp, Mitsubishi Materials, Citizen Watch, Rich Diamond, Kuwayama Corp, Fabrikant Japan, Biko Co, other.  Imports the goods from China (subsidiary factory), other.

Payment record: Regular

 

Location: Business area in Kofu City, Yamanashi-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

 

Bank References

 

Yamanashi Chuo Bank (Minami)

Mizuho Bank (Kofu)

Relations: Satisfactory

 

 

FINANCES

 

                                                                                                     (In Million Yen)

Terms Ending:

　

31/12/2006

31/12/2005

31/12/2004

Annual Sales

　

3,650

3,500

3,536

Recur. Profit

(*)

..

..

62

Net Profit

　

75

72

50

Total Assets

　

　

N/A

N/A

Net Worth

　

　

766

694

Capital, Paid-Up

　

　

10

10

Div.P.Share(¥)

　

　

0.00

10.00

<Analytical Data>

(%)

(%)

(%)

       S.Growth Rate

4.29

-1.02

-8.72

       Current Ratio

 

 

..

..

       N.Worth Ratio

 

..

..

       N.Profit/Sales

2.05

2.06

1.41

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/12/2006 fiscal term.

(*) Data disclosed by the Taxation Office as the pretax profits.

 

 

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

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

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

 

 

 

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