MIRA
INFORM REPORT
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Report Date : |
22nd
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
RICH
DIAMONDS INC |
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Registered Office : |
1-13-36 Takabatake Kofu City Yamanashi-Pref
400-0042 Japan |
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Country : |
Japan |
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Financials (as on) : |
31/07/2006 |
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Date of Incorporation : |
September
1994 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of polished
diamonds, other jewellery |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
YEN 85.8 MILLION |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company name
RICH DIAMONDS INC
REGD NAME
Rich Diamonds KK
MAIN OFFICE
1-13-36 Takabatake Kofu City Yamanashi-Pref
400-0042 JAPAN
Tel :
055-233-3451
Fax :
055-233-3452
URL : N/A
E-Mail address : richdia@hotmail.com
ACTIVITIES
Import, wholesale of polished diamonds,
other jewellery
BRANCHES
Tokyo, Osaka
FACTORY(IES)
(subcontracted)
OFFICERS
ANUP KUMAR ARUN AGARWAL, PRES (Indian
resident)
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 4,900 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 210 M
STARTED 1994 EMPLOYES 15
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN
POLISHED DIAMONDS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 85.8 MILLION, 30
DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by
Shanti Enterprise, India, as its marketing base in Japan for wholesaling polished diamonds and other jewelry. Goods are imported from the parent and its group firm in Hong
Kong. Imports polished, precut diamonds
centrally, other gem stones & jewelry.
Based in Kofu City, a hub of jewelry processors and stores, its clients
are jewelry processors,
wholesalers, jewelry stores covering the greater-Tokyo region. The Tokyo Branch
Office functions as its marketing base in Tokyo area, contributing to sales
growth. Opened Osaka Branch, too. The
financials are only partially disclosed.
FINANCIAL INFORMATION
The sales volume for Jul/2005 fiscal
term amounted to Yen 4,500 million, a 2% up from Yen 4,400 million in the
previous term. This is attributed to
the expansion of client networks with Tokyo Office opened and with increased
sales staff from 9 to 15. The net
profit remained similar at Yen 15 million.
For the term ended Jul 2006 the net profit
is said posted at Yen 17 million, on a 9% rise in turnover, to Yen 4,900
million. The figures have been verbally
obtained from the treasurer and have not been attested by any other sources or
databases. We treat this as estimated
figures.
The financial situation is considered
maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 85.8
million, on 30 days normal terms.
REGISTRATION
Date Registered : Sept 1994
Legal Status : Limited Company (Kabushiki Kaisha)
Authorized : 1,600 shares
Issued :
400 shares
Sum :
Yen 20 million
Major shareholders (%)
Man Mohan Ginka*(50), Sohan Ginka (50)
*.. Owner of Shanti Enterprise (India)
No. of shareholders: 2
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Imports and wholesales
polished diamonds, other gem stones (--50%), fingerings, earrings, pendants,
necklaces, bracelets, other jewelry products (--50%).
Goods are imported from India, Hong
Kong, Korea, etc.
Clients
Jewelry processors, jewelry
wholesalers, jewelers, other
No. of accounts
600
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from Shanti
Enterprise (India), Unic Diamond (Hong
Kong) (--group firms), Korea, other.
Payment record
Regular
Location
Business area Kofu City. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References
Mizuho Bank (Kofu)
Resona Bank (Kofu)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/07/2006 |
31/07/2005 |
31/07/2004 |
31/07/2003 |
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Annual Sales |
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4,900 |
4,500 |
4,400 |
4,000 |
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Recur. Profit |
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.. |
.. |
.. |
.. |
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Net Profit |
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17 |
15 |
15 |
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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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210 |
195 |
180 |
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Capital, Paid-Up |
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20 |
20 |
20 |
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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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S.Growth Rate |
8.89 |
2.27 |
10.00 |
0.00 |
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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 |
0.35 |
0.33 |
0.34 |
0.00 |
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Financials are only partially
disclosed.
Estimated for the 31/07/2006 fiscal term
(which has been verbally obtained from the firm’s treasurer).
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 |
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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