MIRA
INFORM REPORT
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Report Date : |
05.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
JEWEL HIRATA CO LTD |
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Registered Office : |
1-15 Kataharacho Takamatsu Kagawa-Pref 760-0040 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2007 |
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Date of Incorporation : |
Dec 1980 |
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Legal Form : |
Private Limited Company (Yugen
Kaisha) |
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Line of Business : |
Import, retail of diamonds, sapphire,
pearls, 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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
JEWEL HIRATA CO LTD
REGD NAME
YK Jewel Hirata
MAIN OFFICE
1-15 Kataharacho Takamatsu Kagawa-Pref 760-0040 JAPAN
Tel : 087-822-6222
Fax : 087-822-6216
URL : http://www.jewelhirata.com/
E-Mail address: info@jewelhirata.com
* The given address is its store at: Wakaya Bldg 2F, 13-4
Marugamecho Takamatsu Kagawa-Pref 760-0029 JAPAN
ACTIVITIES
Import, retail of diamonds, sapphire, pearls, jewelry
products
STORE(S)
Marugamecho (Kagawa-Pref)
FACTORY(IES)
(subcontracted)
OFFICERS
TATSUHIKO HIRATA, PRES
Tetsuro Kiuchi, ch
Akiko Hirata, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 325 M
PAYMENTS REGULAR CAPITAL Yen 25 M
TREND STEADY WORTH Yen 81 M
STARTED 1980 EMPLOYES 13*
*..
Including part-timers
COMMENT
IMPORTER
AND RETAILER SPECIALIZING IN JEWELRY. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$100,000 / O/A 90
DAYS.
HIGHLIGHTS
The subject company was established by father of Tatsuhiko
Hirata in order to make most of his experience in the subject line of
business. Tatsuhiko took the pres
office in Dec 1993. This is a retailer,
owned and operated by the Hirata family, specializing in diamonds, sapphire,
pearls, rubies topaz, other precious & colored stones, necklaces, earrings,
fingerings, bracelets, pendants, other jewelry products. Goods are imported from Italy, Germany, Sri
Lanka, India, Thailand, etc. Stones are
subcontracted mfg into products to domestic makers. Italian brands include “Vergano”. Goods are subcontract mfg to local processors into jewelry
products. Made-to-order mfg, repairing,
maintenance, etc services are also offered.
In sales amount the firm is placed fourth among 13 jewelry retailers in
Kagawa-Pref.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Aug/2006 fiscal term amounted to Yen 325
million, an 18% down from Yen 395 million in the previous term. Demand declined for luxurious diamonds and
other jewelry. Profits deteriorated to
post Yen 3 million post-taxes, compared with Yen 20 million net profit a year
ago. Price hike in jewelry ate into
profits, according to the firm. The
last term’s profits included extraordinary income coming from inventory
revaluation.
For the term ended Aug 2007 the net profit is believed posted
at Yen 3 million, on an 8% rise in turnover, to, to Yen 350 million. Weaker Yen should have contributed to the
sales growth.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements.
REGISTRATION
Date Registered: Dec
1980
Legal Status: Private
Limited Company (Yugen Kaisha)
Regd Capital: Yen
25 million
Major shareholders (%): Tatsuhiko Hirata (51.0), Akiko
Hirata (42.0), Tetsuro Kiuchi (7)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and retails diamonds, pearls, sapphires,
rubies, topaz, other precious & colored stones, necklaces, earrings,
fingerings, bracelets, pendants, other jewelry products (--100%).
Goods are imported from Italy, Germany, Sri Lanka, India,
Thailand, etc.
Stones are subcontracted mfg to local jewelry processors
into jewelry products.
Clients: [Consumers, business firms, coops] Shikoku Newspaper, Nishinippon Broadcasting, other.
No. of accounts: Unavailable
Domestic areas of activities: Centered in Kagawa-Pref &
vicinities.
Suppliers: [Mfrs, wholesalers] Tasaki Shinju, Jewelry Naritaya, Yoshimoto, other.
Also imports from Italy, Germany, Sri Lanka, India, Thailand,
etc.
Payment record: Regular
Location: Business area in Takamatsu City, Kagawa-Pref. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References
Kagawa-Pref Shinkin Bank (H/O)
Chugoku Bank (Takamatsu)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/08/2007 |
31/08/2006 |
31/08/2005 |
31/08/2004 |
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Annual Sales |
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350 |
325 |
395 |
323 |
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Recur. Profit |
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Net Profit |
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3 |
3 |
20 |
1 |
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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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84 |
81 |
61 |
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Capital, Paid-Up |
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25 |
25 |
25 |
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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 |
7.69 |
-17.72 |
22.29 |
17.45 |
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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 |
0.86 |
0.92 |
5.06 |
0.31 |
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Notes: Financials are not disclosed only except the above
partial figures.
Forecast (or estimated) figures for 31/08/2007 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. |
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%)