MIRA INFORM REPORT
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Report Date : |
17th May 2006 |
IDENTIFICATION DETAILS
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Name : |
ELIO JAPAN CO LTD |
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Registered Office : |
Kamokatsu Bldg 2F,
2-14-23 Koenji-Kita Suginamiku Tokyo 160-0002 Japan |
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Date of Incorporation : |
Nov 2002 |
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Legal Form : |
Limited
Company |
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Line of Business : |
Importers and
wholesalers of diamonds & other gemstones |
RATING & COMMENTS
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MIRA’s Rating : |
B |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
YEN 4.05 MILLION |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME & ADDRESS
ELIO JAPAN CO LTD
REGD NAME
KK Elio Japan
MAIN OFFICE
Kamokatsu Bldg 2F, 2-14-23 Koenji-Kita Suginamiku
Tokyo 160-0002 JAPAN
Tel: 03-5373-0278
Fax: 03-5373-8257
URL: N/A
ACTIVITIES
Import, wholesale of diamonds &
other gemstones
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
SETSUO HOSOI, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 450 M
PAYMENTS REGULAR CAPITAL Yen 28 M
TREND UP WORTH Yen 22 M*
STARTED 2002 EMPLOYES 5
*.. The firm posted Yen 12 million in
extraordinary losses coming from the
initial investments. The net
worth is expressed in the negative.
COMMENT
IMPORTER AND WHOLESALER
SPECIALIZING IN DIAMONDS. FINANCIAL
SITUATION CONSIDERED RATHER WEAK BUT GOOD FOR CREDIT ENGAGEMENTS: US$125,000 /
O/A 120 DAYS.
MAX CREDIT LIMIT: YEN 4.05 MILLION,
NORMAL 30 DAYS TERMS.
HIGHLIGHTS
The subject company was
established by Setsuo Hosoi in order to make most of his experience in the
subject line of business. This is a
trading house for import and wholesale of polished diamonds and other
gemstones. Goods are imported from
selected suppliers. This business is
steadily growing with clientele networks expanding year by year. Clients include major jewelry stores and
processors. The financials are only
partially disclosed.
The sales volume for Oct/2005
fiscal term amounted to Yen 450 million, a sharp 80% up from Yen 250 million in
the previous term. This was thanks to
the expanded client networks to major jewelry processors, particularly Oriental
Diamond and Nagahori Corp are mentioned.
The latter handles diamonds centrally, having JV in Israel for diamond
polishing, with annual turnover around Yen 18,000 million. The firm wrote off Yen 12 million for the
initial term ending 31/10/2003, with accumulated losses are estimated at around
Yen 6 million. We have expressed the
net worth on the negative side.
For the current term ending Oct
2006 the net profit is projected at Yen 4 million, on a 4% rise in turnover, to
Yen 470 million. The firm aims to
achieve at least 10% rise in turnover, taking into further expansion of
clients. We have estimated rather
conservatively.
The financial situation is
considered RATHER WEAK but should be good for MODERATE business
engagements. Max credit limit is
estimated at Yen 4.05 million, on normal 30 days terms. The proposed amount for 120 day terms is considered
within the firm’s financial capacities.
REGISTRATION
Date Registered: Nov 2002
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2,000 shares
Issued: 560
shares
Sum: Yen 28 million
Major shareholders (%): Setsuo Hosoi
and families (100)
No. of shareholders: 7
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Imports and
wholesales polished diamonds, other gemstones, including jewelry products &
accessories (--100%). Stones are
subcontracted mfg on demand.
Clients: [Jewelry stores] Oriental
Diamond, Nagahori Corp, Nakanishi Inc,
other.
No. of accounts: 100
Domestic areas of activities: Centered
in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Imports
from Drisand, Rodi & Wienenberger,
other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References
Bank of Tokyo-Mitsubishi UFJ
(Shinjuku-Chuo)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms
Ending: |
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31/10/2006 |
31/10/2005 |
31/10/2004 |
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Annual
Sales |
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470 |
450 |
250 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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4 |
4 |
3 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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22 |
18 |
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Capital,
Paid-Up |
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28 |
28 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.44 |
80.00 |
150.00
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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 |
0.85 |
0.89 |
1.20 |
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Notes: Financials are only partially
disclosed.
Forecast (or estimated) figures for the
31/10/2006 fiscal term.
RATING EXPLANATIONS
RATING
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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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |