MIRA
INFORM REPORT
|
Report Date : |
11.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SUN ROYAL CORPORATION |
|
|
|
|
Registered Office : |
385
Shimizu-Shinkyo Showamachi Nakakomagun Yamanashi-Pref 409-3867 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Date of Incorporation : |
Nov 1990 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import of polished diamonds |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name
SUN ROYAL CORPORATION
REGD NAME
KK Sun
Capital
MAIN OFFICE
385
Shimizu-Shinkyo Showamachi Nakakomagun Yamanashi-Pref 409-3867 JAPAN
Tel:
055-224-2274
Fax:
055-228-7867
*.. Tokyo Branch Office at: 5-26-15 Ueno Taitoku Tokyo 110-0005;
Tel: 03-3837-5602; Fax: 03-3837-5604
URL : http://www.gohsho.jp
E-Mail address: info@gohsho.jp
ACTIVITIES
Import of polished diamonds
BRANCHES
Tokyo
OFFICERS
MITSUO HIGUCHI, PRES
Katsushi Higuchi, dir
Yen Amount : In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,210 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 108 M
STARTED 1990 EMPLOYES 3
COMMENT
IMPORTER OF POLISHED DIAMONDS, OWNED BY GOHSHO JEWEL CO LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established on the basis of import division
separated from Gohsho Jewel Co Ltd, wholesaler of jewelry, at the caption
address (See REGISTRATION). Mitsuo
Higuchi is concurrently pres at the parent.
The subject specializes in importing polished diamonds, as an import
agent for the parent company. The
parent started importing diamonds in 1988.
Goods are imported from Belgium, India, Israel, etc and wholly shipped
to the parent. Management and
operations, including staff members, are fully integrated with the parent.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2006 fiscal term amounted to Yen 1,210 million, a slight down from Yen 1,216 million in the previous term. This is referred to the sluggish consumer spending. The net profit was posted at Yen 21 million, down from Yen 22 million a year ago.
For the current term ending Mar 2007 the net profit is
projected at Yen 21 million, on a 1.7% rise in turnover, to Yen 1,230
million. Weaker Yen against foreign
currencies should raise sales in Yen terms.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
REGISTRATION
Date Registered : Nov 1990
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
800 shares
Issued :
200 shares
Sum :
Yen 10 million
Major shareholders (%) :
Mitsuo Higuchi*(75), Katsushi Higuchi (25)
*.. Pres of Gohsho Jewel Co Ltd, jewelry wholesaler at the
caption address, managing 5 subsidiaries including the caption firm, founded
1984, capital Yen 48.3 million, sales Yen 6,000 million, net profit Yen 180
million, employees 45, pres Mitsuo Higuchi
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Imports and wholesales polished diamonds (100%).
Goods are wholly whipped to the parent, Gohsho Jewel Co Ltd.
Clients
[Jewelry wholesaler] Shipped wholly to the parent, Gohsho Co
Ltd.
No. of accounts: 1
Domestic areas of activities: Centered in Kofu City, extending
into the greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from Belgium, Israel, India, etc.
Payment record: Regular
Location
Business area in Kofu City, Yamanashi-Pref. Office premises at the caption address are
owned by the parent, Gohsho Jewel Co Ltd and maintained satisfactorily.
Bank References
Resona Bank (Kofu)
Kofu Shinkin Bank (Nishi)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms
Ending: |
|
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
|
|
Annual Sales |
|
1,230
|
1,210
|
1,216
|
1,128
|
|
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
|
Net Profit |
|
21 |
21 |
22 |
16 |
|
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
|
Net Worth |
|
|
108 |
94 |
|
|
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
||
|
S.Growth Rate |
1.65 |
-0.49
|
7.80 |
-7.39
|
||
|
Current Ratio |
|
|
.. |
.. |
.. |
|
|
N.Worth Ratio |
|
.. |
.. |
.. |
||
|
N.Profit/Sales |
1.71 |
1.74 |
1.81 |
1.42 |
||
Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/03/2007 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 |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)