MIRA
INFORM REPORT
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Report Date : |
31.07.2007 |
IDENTIFICATION DETAILS
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Name : |
UCHIHARA CO LTD |
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Registered Office : |
7-2-7 Roppongi Minatoku |
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Country : |
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Financials (as on) : |
31.07.2007 |
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Date of Incorporation : |
January 1961 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale, retail of polished diamonds, jewelry
products |
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 270.1 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
COMPANY NAME
UCHIHARA CO LTD
REGD NAME: KK Uchihara
MAIN OFFICE
7-2-7 Roppongi Minatoku
Tel : 03-3478-0303
Fax : 03-3476-0093
URL : http://www.uchihara.com/
E-Mail : Not
specified
*.. Registered and
ACTIVITIES
Import, wholesale, retail of polished diamonds, jewelry
products
BRANCHES
STORES
At the caption address,
OFFICER(S)
Keisuke Uchihara, ch
ICHIRO UCHIHARA, PRES
Toshikiyo Nakano, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen
11,232 M
PAYMENTS REGULAR CAPITAL Yen 90 M
TREND STEADY WORTH Yen 3,904 M
STARTED 1961 EMPLOYES 107
COMMENT
IMPORTER, WHOLESALER & RETAILER SPECIALIZING IN DIAMONDS
& JEWELRY PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 270.1 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established originally in 1920 by
Kaname Uchihara, on his account. Keisuke
is the 3rd generation master and Ichiro the 4th. Specializes in importing and wholesaling
polished, loose diamonds and other gem stones.
Also handles fingerings, pendants, other jewelry. Imports an average of 100,000 carats of
diamonds a year. Import sources are
The firm opened the first in-shop store in Takashimaya Osaka
in 1968 and expanded in-shops into all Takashimaya Department Store group
nationwide (now totaling 9 stores). Has
a representative office in
FINANCIAL INFORMATION
The sales volume for Jul/2006 fiscal term amounted to Yen
11,232 million, a 25% up from Yen 6,723 million for irregular 9 months in the
previous term. The fiscal term was
changed to Aug/Jul from the previous Sept/Oct.
The growth rates are adjusted on a 12-month basis. The net profit was posted at Yen 96 million,
compared with Yen 86 million a year ago.
For the current term ending Jul 2007 the net profit is
projected at Yen 100 million, on a 3% rise in turnover, to Yen 11,500 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 270.1 million, on 30 days normal terms.
REGISTRATION
Date Registered : Jan
1961
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
720,000 shares
Issued :
180,000 shares
Sum : Yen 90 million
Major shareholders (%): Kunita Inc*(24.5), Keisuke Uchihara (22.17),
Sumi Uchihara (21.67), Takara Co (15), Ichiro Uchihara (10)
*.. Wholesaler of jewelry at the caption address, wholly
owned by KK Uchihara, with man- agement
& operations fully integrated, founded 1971, capital Yen 45 million,
turnover Yen 6,808 million, net profit Yen 36 million, employees 79, pres
Ichiro Uchihara concurrently.
No. of shareholders: 6
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, wholesales and retails polished diamonds,
other precious stones (--90%), fingerings, pendants, earrings, bracelets,
necklaces, others (--10%).
Operates 4 direct-run stores.
(Import 60%; wholesale 90%, retail 10%).
(Handling brands): Casare de Vecchi, Roberta, Argyle,
L’Exception SDC, Aletta, Serendity, Siglo, Nogizaka, Akane Teshigahara, other.
Clients: [Department stores, jewelry processors, consumers]
Takashimaya Department Store (major client), Kunita Inc (subsidiary), Isetan,
Mitsukoshi, Hankyu Department Stores, other.
No. of accounts: 200 (Direct clients of wholesale div)
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from
Payment record
Regular
Location
Business area in
Bank References
Resona Bank (Toranomon)
SMBC (Akasaka)
Relations: Satisfactory
FINANCES: (In Million
Yen)
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Terms Ending: |
31/07/2007 |
31/07/2006 |
31/07/2005 |
31/10/2004 |
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Annual Sales |
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11,500
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11,232
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6,723
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13,442
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Recur. Profit |
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230 |
223 |
208 |
253 |
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Net Profit |
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100 |
96 |
86 |
126 |
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Total Assets |
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11,256
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11,945
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11,658
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Current Assets |
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6,217
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7,590
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7,253
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Current Liabs |
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2,776
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3,057
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3,516
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Net Worth |
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3,904
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3,807
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3,720
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Capital, Paid-Up |
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90 |
90 |
90 |
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Div.P.Share(¥) |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.39 |
24.97
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-33.00
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13.19
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Current Ratio |
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223.96
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248.28
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206.29
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N.Worth Ratio |
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34.68
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31.87
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31.91
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R.Profit/Sales |
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2.00 |
1.99 |
3.09 |
1.88 |
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N.Profit/Sales |
0.87 |
0.85 |
1.28 |
0.94 |
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Return On Equity |
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2.46 |
2.26 |
3.39 |
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Notes: Accounting term changed to Aug/Jul from the 31/07/2006
fiscal term. Growth rates are adjusted
accordingly.
Forecast (or estimated) figures for the 31/07/2007 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%)