MIRA INFORM REPORT

 

 

Report Date :

7th November 2006

 

IDENTIFICATION DETAILS

 

Name :

I K CO LTD

 

 

Registered Office :

Touka Bldg 4F, 1-16-1 Ginza Chiyodaku Tokyo 104-0061 Japan

 

 

Country :

Japan

 

 

Financials (as on) :

31/05/2007

 

 

Date of Incorporation :

May 1966

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Importers and wholesalers of diamonds, colored, stones, 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 35.8 MILLION

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Name

 

I K CO LTD

 

 

REGD NAME

 

KK I. K.

 

 

MAIN OFFICE

 

Touka Bldg 4F, 1-16-1 Ginza Chiyodaku Tokyo 104-0061 JAPAN

Tel: 03-3564-3560    

Fax: 03-3564-6879

URL: http://www.aikei.com/

E-Mail address: info@aikei.com

 

 

ACTIVITIES

 

Import, wholesale of diamonds, colored, stones, jewelry products

 

 

BRANCHES

 

Nil

 

 

FACTORY(IES)

 

YK I Craft (subsidiary jewelry processor)

 

 

OFFICERS

 

Goji Kawase                                          MASAYA ICHIKAWA, PRES

Satoshi Matsumoto, s/mgn dir                Nobuo Nakatani, dir

 

 

Yen Amount

 

In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 2,371 M

PAYMENTS      REGULAR                     CAPITAL           Yen 22 M

TREND             SLOW                          WORTH            Yen 419 M

STARTED         1965                             EMPLOYES      28

 

 

COMMENT

 

IMPORTER AND WHOLESALER SPECIALIZING IN DIAMONDS AND JEW ELRY PRODUCTS.  FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 35.8 MILLION, 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS

 

The subject company was established by Goji Kawase in order to make most of his experience in the subject line of business.  This is a trading house specializing in importing diamonds, sapphire, ruby, emerald, and other colored precious stones, and processing into rings, bracelets, necklaces, cuff links, other jewelry products. Mfg and processing works are handled by subsidiary maker, YK I Craft, Tokyo.  Offers integrated services from design, mfg, processing, etc, by three group firms: KK ING Enterprise, KK Flanders Diamond Japan and YK I Craft. Jewelry products are made on licensee agreements: Hello Kitty, Snoopy Boutique, World Soccer Items, etc.  Imports diamonds and other precious stones from Belgium, Israel, Thailand, Hong             Kong, India, Australia, Greece, Spain, other EU countries.  Clients include department stores, jewelry processors, wholesalers, jewelry stores, other.

 

 

FINANCIAL INFORMATION

           

The sales volume for May/2006 fiscal term amounted to Yen 2,371 million, an 8% down from Yen 2,570 million in the previous term.  This is referred to the slumping consumer spending that persisted.  The net profit was posted at Yen 24 million, down from Yen 25 million a year ago.

 

For the current term ending May 2007 the net profit is projected at Yen 25 million, on a 3% rise in turnover, to Yen 2,450 million.  Overall economy is recovering with demand seen rising.

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 35.8 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:            May 1966

Legal Status:                 Limited Company (Kabushiki Kaisha)

Authorized:                    176,000 shares

Issued:                          45,000 shares

Sum:                            Yen 22.5 million

           

Major shareholders (%): Chisako Kawase (15), Goji Kawase (12.7), Masaya Ichikawa         (12.4), Satoshi Matsumoto (9.8)

No. of shareholders: 28

 

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

 

 

OPERATION

           

Activities: Imports and wholesales diamonds, emerald, sapphire, ruby, other colored precious stones, and processes them into fingerings, earrings, broaches, bracelets, necklaces, cuff links, other jewelry products (--100%).

           

Offers integrated services from designing, mfg to wholesaling & retailing, with production and processing handled by subsidiary companies.

 

Brand Licensee agreements: Hello Kitty; Snoopy Boutique; World Soccer items (FC Barcelona,

Manchester United, Real Madrid).

           

Clients: [Department stores, jewelry stores, mail order houses] Orient Watch, Heiwado & Co,

Mitsubishi Materials, Nissen Co, Pola Cosmetics Inc, other.

No. of accounts: 1,000

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Imports precious stones from Belgium, Greece, Spain,          Australia, Hong Kong, Thailand, Israel, other.  Also supplied from I Craft (subsidiary), and some      other domestic suppliers.

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

 

Bank References

 

Mizuho Bank (Ginza-Chuo)

Resona Bank (Tokyo-Chuo)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

Terms Ending:

　

31/05/2007

31/05/2006

31/05/2005

31/05/2004

Annual Sales

　

2,450

2,371

2,570

2,700

Recur. Profit

　

..

..

..

..

Net Profit

　

25

24

25

25

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

419

400

380

Capital, Paid-Up

　

　

22

22

22

Div.P.Share(¥)

　

　

0.00

100.00

100.00

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

3.33

-7.74

-4.81

-0.74

       Current Ratio

 

 

..

..

..

       N.Worth Ratio

 

..

..

..

       N.Profit/Sales

1.02

1.01

0.97

0.93

 

Notes: Financials are not disclosed only except the above partial figures.

Forecast (or estimated) figures for 31/05/2007 fiscal term.

 

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

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