MIRA
INFORM REPORT
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Report Date : |
27.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
JEWELRY RITZ LTD |
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Registered Office : |
1427 Kita-Ishidocho Nagano 380-0826 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
Aug 1999 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Retail of jewelry, watches,
eyeglasses, contact lenses |
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 8.7 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
JEWELRY RITZ LTD
REGD NAME
KK Jewelry Ritz
MAIN OFFICE
1427 Kita-Ishidocho Nagano 380-0826 JAPAN
Tel : 026-226-8131
Fax : 026-226-8132
URL : http://www.jewelry-ritz.com
http://www.kashikey.co.jp/
(of the parent, Kashikey Co Ltd)
E-Mail address: contact@jewelry-ritz.com
ACTIVITIES
Retail of jewelry, watches, eyeglasses, contact lenses
STORE(S)
At the caption address
FACTORY(IES)
(Subcontracted)
OFFICER(S)
KATSUYA NAKANE, PRES
Masao Ohta, dir
Tatsuya Nakane, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 480 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 47 M
STARTED 1999 EMPLOYES 13
COMMENT
RETAILER OF JEWELRY & WATCHES, WHOLLY OWNED BY KASHIKEY CO LTD. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$50,000 / O/A TERMS.
MAX CREDIT LIMIT: YEN 8.7 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established as a jewelry store by Kashikey Co Ltd, trading firm specializing in diamonds & jewelry, Tokyo (see REGISTRATION), in order to advance into Nagano City area. The firm specializes in retailing diamond-bedded fingerings, necklaces, pendants, other jewelry products; watches, eyeglasses, sunglasses, contact lenses, etc. Also handles ornamental & decorative items.
Handling brands include (to name a few): Rolex, Omega, Tagheuer, Tresco, Nina Rich, Preneige, Lanvin, Credor, Triology, Bisvague, Partner Ring, Ampleur, Premier Ring, Seiko, Citizen, other. Handles original brand fingerings “ISAO” brand, too. Jewels are mostly supplied from the parent, while watches & eyeglasses from other major mfrs and trading firms in respective sectors. The store is conveniently located right in front the Nagano Station. The firm is placed 5th among 61 jewelry stores in Nagano-Pref in terms of sales turnover. A member of Diamond Masters Japan, a franchisee of DTC (Diamond Trading Company).
FINANCIAL INFORMATION
The financials are only partially disclosed as are consolidated
in the parent’s.
The sales volume for Jun/2006 fiscal term amounted to Yen 480 million, a 9% down from Yen 530 million in the previous term, hurt by sluggish consumer spending. The net profit decreased to Yen 8 million from Yen 10 million a year ago.
For the current term ending Jun 2007 the net profit is
projected at Yen 8 million, on a 4% rise in turnover, to Yen 500 million. Consumer spending is seen recovering. Weaker Yen may assist to uplift sales amount
in Yen terms, too.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 8.7 million, on normal 30 days terms. The limit is assessed taking into the
parent’s financial strength. The
parent, Kashikey Co Ltd, is estimated responsible for credit engagements up to
Yen 227.4 million, on normal 30 days terms.
The proposed amount is considered well within the firm’s financial
capacities.
REGISTRATION
Date Registered: Aug
1999
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen
10 million
Major shareholders (%): Kashikey Co Ltd*(100)
*.. Trading firm specializing in gem stones, jewelry products, with integrated operating of mfg, processing, marketing, Tokyo, founded 1970, capital Yen 310 million, turnover Yen 13,348 million, net profit Yen 226 million, employees 186, pres Hisao Kato (--all figures as of Feb/2006).
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Retails diamond-mounted fingerings, pendants, necklaces, other jewelry (--65%), watches, eyeglasses, sunglasses, contact lenses, other decorative items (--35%).
(The breakdown figures are only estimated).
Clients: Consumers
No. of accounts: Unavailable
Domestic areas of activities: Centered in Nagano City
Suppliers: [Mfrs, wholesalers] Kashikey Co (the parent), Seiko
Watch, Seiko Clock, Nakayama Megane (eye-glasses), Bico Corp (jewelry), Hoya
Corp (mfg of optical glasses & eyeglasses), Orient Watch, Hotta Int’l,
Citizen Watch, other. The parent,
Kashikey Co, imports diamonds/other precious stones, jewelry from Belgium,
Israel, India, Thailand, etc.
Payment record: Regular
Location: Business area in Nagano. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Mizuho Bank (Nagano)
Hachijuni Bank (Nagano-Ekimae)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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30/06/2007 |
30/06/2006 |
30/06/2005 |
30/06/2004 |
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Annual
Sales |
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500 |
480 |
530 |
520 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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8 |
8 |
10 |
10 |
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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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47 |
41 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
4.17 |
-9.43 |
1.92 |
11.83 |
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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 |
1.60 |
1.67 |
1.89 |
1.92 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/06/2007 fiscal
term.
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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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%)