MIRA
INFORM REPORT
|
Report
Date : |
27th
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
NICE DIAMOND CO LTD |
|
|
|
|
Registered
Office : |
1-12-1 Tomitake Kofu City
Yamanashi-Pref 400-0049 Japan |
|
|
|
|
Date
of Incorporation : |
Oct 2004 |
|
|
|
|
Legal
Form : |
Private Limited
Company |
|
|
|
|
Line
of Business : |
Import, wholesale of
polished diamonds |
RATING & COMMENTS
|
MIRA’s
Rating : |
C |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |
|
Status
: |
New Company
|
|
|
|
|
Payment
Behaviour : |
Regular |
|
|
|
|
Litigation
: |
Clear |
NAME
NICE DIAMOND CO LTD
REGD NAME
YK Nice Diamond
MAIN OFFICE
1-12-1 Tomitake Kofu City Yamanashi-Pref 400-0049
JAPAN
Tel :
055-228-6665
Fax :
055-228-6665
URL : N/A
E-Mail address : niishchalsheth@yahoo.com
ACTIVITIES
Import, wholesale of polished diamonds
BRANCHES
Nil
FACTORY
(Subcontracted)
OFFICER(S)
NISHCHALKUMAR RAJANIKANT SHET, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES UNDETD A/SALES Yen 450 M*
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND UNDETD WORTH Yen 3 M
STARTED 2004 EMPLOYES 1
*.. Sales targets only.
COMMENT
IMPORTER
AND WHOLESALER SPECIALIZING IN POLISHED DIAMONDS. FINANCIAL SITUATION
UNDETERMINED
DUE TO THE RECENT INCEPTION BUT SHOULD BE
GOOD FOR MODERATE
BUSINESS
ENGAGEMENTS. WE HAVE NO RESOURCES TO ASSESS ITS CREDIT
WORTHINESS
IN
THE ABSENCE OF PROVEN BUSINESS RESULTS
FOR FULL ONE YEAR. MAX CREDIT LIMIT:
THEORETICALLY
YEN 5.25 MILLION, ON BASIS OF THE EARNINGS TARGETS GIVEN FROM THE
OWNER. HOWEVER, ALL CREDITS RECOMMENDED TO BE ON
FULLY SECURED TERMS.
HIGHLIGHTS
The
subject company was established by Nisharkumar, an Indian resident businessman,
in order to make most of his experience in the subject line of business. This is a one-man operated trading house for
import and wholesale of polished, precut diamonds, from India centrally, and
from Korea. Handles also diamond-bedded
jewelry products and others. Clients
are jewelry stores, jewelry processors, etc centering in the greater-Tokyo
area. Kofu is the jewelry processing
center in the East of Japan, from where products are shipped to Tokyo &
Osaka regions.
The
sales volume for May/2005 fiscal term for 8 months from the inception amounted
to Yen 270 million, on a break-even profit basis. The figures have been verbally given from the owner and we have
no verification.
For
the current term ending May 2006 the net profit is projected at Yen 10 million,
on a 13% rise in turnover, to Yen 450 million.
The target figures have been given from the owner.
Both
the financial situation and business trends are not determined due to the
recent inception but should be good for MODERATE business engagements. The credit worthiness is considered
undetermined due to the recent inception with no proven business results for
one full year period. We recommend ANY
CREDITS to be on fully secured terms.
REGISTRATION
Date Registered: Oct 2004
Legal Status: Private
Limited Company (Yugen Kaisha)
Regd Capital: Yen
3 million
Major shareholders (%): Nishchalkumar Rajanikant Shet
(100) Nothing
detrimental
is known as to his commercial morality.
OPERATION
Activities:
Imports and wholesales polished, precut diamonds and jewelry products
(--100%). Goods are imported from India
centrally, and Korea, etc.
Clients:
Jewelry processors, jewelry stores, other
No. of accounts: 50
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Imports from India centrally, Korea, other.
Payment record:
Regular
Location:
Business area in Kofu City, Yamanashi-Pref.
Office premises at the caption address are owned by Nisharkumar as his
private residence and maintained satisfactorily.
Bank References:
Kofu Shinkin Bank
(Ishida)
Relations:
Satisfactory
FINANCES
(In Million Yen)
NOT MADE AVAILABLE.
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 |