MIRA
INFORM REPORT
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Report Date : |
31.07.2007 |
IDENTIFICATION DETAILS
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Name : |
HONEST CORPORATION CO LTD |
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Registered Office : |
1-2-55 Satoyoshi Kofu 400-0822 |
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Country : |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
Jul 1998 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Manufacturing (processing) of
jewelry, import of diamonds |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
HONEST CORPORATION CO LTD
REGD NAME
KK Honest
Corporation
MAIN OFFICE
1-2-55 Satoyoshi
Kofu 400-0822
Tel : 055-221-7272
Fax : 055-721-7273
URL : N/A
ACTIVITIES
Mfg (processing)
of jewelry, import of diamonds
BRANCHES
Nil
FACTORY(IES)
At the
caption address
OFFICER(S)
MAKOTO
NAITOH, PRES
Takao
Watanabe, s/mgn dir
Kikumi
Naitoh, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 641 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND STEADY WORTH Yen
44 M
STARTED 1998 EMPLOYES 7
COMMENT
PROCESSOR OF JEWELS, ALSO IMPORTER OF POLISHED DIAMONDS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Makoto Naitoh in order
to make most of his experience in the subject line of business. This is a processor of jewelry,
diamond-studded & -mounted products.
Imports diamonds and other gem stones centrally from
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Jun/2006 fiscal term amounted to Yen 641 million,
an almost similar amount in the previous term.
Business is seen rather slack with trade competition getting
harder. Prices are under pressure from
cheaper imports from
For the term just ended Jun 2007 the net profit was projected at and believed posted at Yen 3 million, on a 1% rise in turnover, to Yen 650 million. Some recovery is seen in consumer spending. Also the weaker Yen against foreign currencies would have contributed.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements.
REGISTRATION
Date
Registered: Jul 1998
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 2,400 shares
Issued: 600 shares
Sum: Yen 30 million
Major shareholders (%): Makoto Naitoh (100)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports polished diamonds and other gem stones and processes
them into jewelry products; fingerings, earrings, bracelets, necklaces,
other (--100%).
Diamonds are imported from
Clients: [Jewelry stores, jewelry processors, wholesalers] Yanagisawa & Co, Royal Trading, Sanpo KK, Sanpo, other.
No. of
accounts: 100
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from
Also supplied from Ijima Precious Metal, and some other domestic suppliers.
Payment
record: Regular
Location: Business area in
Bank References
Kofu
Shinkin Bank (Minami)
Mizuho
Bank (
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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650 |
641 |
640 |
655 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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3 |
2 |
3 |
3 |
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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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44 |
42 |
39 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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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 |
1.40 |
0.16 |
-2.29 |
0.77 |
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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 |
0.46 |
0.31 |
0.47 |
0.46 |
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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%)