MIRA
INFORM REPORT
|
Report Date : |
09.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
J
TRADING COMPANY LIMITED |
|
|
|
|
Registered Office : |
Oumiya Bldg, 5-13-9 Ueno Taitoku Tokyo 110-0005 Japan |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.08.2006 |
|
|
|
|
Date of Incorporation : |
October,
1987 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, wholesale of polished
diamonds, fingerings, other jewelry |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
YEN 17.2 MILLION |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Usually
Correct |
|
|
|
|
Litigation : |
Clear |
Company name
J
TRADING CO LTD
REGD NAME
J
Trading KK
MAIN OFFICE
Oumiya
Bldg, 5-13-9 Ueno Taitoku Tokyo 110-0005 JAPAN
Tel : 03-3834-0933
Fax : 03-3834-0919
URL : http://www.jt-net.co.jp/
E-Mail address :
info@jt-net.co.jp
ACTIVITIES
Import, wholesale of polished diamonds, fingerings, other jewelry
BRANCHES
Fukuoka
FACTORY(IES)
YK Cast Art (subsidiary)
OFFICERS
Hirokazu Iwata, ch TAKESHI
IWATA, PRES
Shin’ichi Uehara, dir Harumi
Ochiai, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,480 M
PAYMENTS REGULAR CAPITAL Yen 45 M
TREND STEADY WORTH Yen 119 M
STARTED 1987 EMPLOYES 11
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN DIAMONDS AND OTHER JEWELRY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 17.2 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established originally in 1981 by Hirokazu Iwata in order to make most of in order to make most of his experience in the jewelry business. Takeshi is the founder’s son, who took the office of presidency in Mar 1991. This is a specialized trading house, owned by the Iwata family, for import and wholesale of polished & precut diamonds centrally, accounting for 90% of total sales. Also handles fingerings, earrings, other jewelry products. Diamonds are processed into jewelry products by subsidiary mfr, YK Cast Art. Design and R&D are handled by subsidiary, KK J Plan. The operations are totally handled by the group firms. Known by sound management and operation with stable & solid clientele networks. Clients are jewelry stores centering in greater-Tokyo region.
FINANCIAL INFORMATION
The sales volume for Aug/2005 fiscal term amounted to Yen 1,480
million, a 3% down from Yen 1,518 million in the previous term. The recurring profit was posted at Yen 15
million and the net profit at Yen 6 million, respectively, compared with Yen 14
million recurring profit and Yen 4 million net profit, respectively, a year
ago.
For the term ended Aug 2006 the recurring profit is reported
posted at Yen 15 million and the net profit at Yen 5 million, respectively, on
a 1.4% rise in turnover, to Yen 1,500 million.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 17.2 million, on 30 days normal terms.
REGISTRATION
Date Registered : Oct 1987
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
3,600 shares
Issued :
900 shares
Sum :
Yen 45 million
Major shareholders (%)
Takeshi
Iwata (65.5), Hirokazu Iwata (20)
No. of shareholders
7
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities:
Imports and wholesales polished, precut diamonds (90%), fingerings, other
jewelry products (--10%).
Diamonds
are imported from Belgium, Israel, India, other.
Operations
are all handled by the group firms: YK Cast Art (jewelry processing) and KK J Plan (designing, planning,
R&D)
Clients
[Jewelry
stores, jewelry processors] Kirin’ya, Elizabeth Jewelry, other.
No. of accounts
500
Domestic areas of activities
Centered
in greater-Tokyo
Suppliers
[Mfrs,
wholesalers] Imports from Lily Diamond, other from Belgium Israel, India, etc. Also supplied from Kashikey Co, Yama Co,
Kinpodo, Cast Art (subsidiary), other.
Payment record
Regular
Location
Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
Asahi
Shinkin Bank (H/O)
SMBC
(Ueno)
Relations:
Satisfactory
FINANCES
(In Million Yen)
Terms
Ending: 31/08/2006 31/08/2005 31/08/2004 31/08/2003
Annual
Sales 1,500 1,480 1,518 1,430
Recur.
Profit 15 15 14 7
Net
Profit 5 6 4 3
Total
Assets 760 804 733
Current
Assets 677 719 628
Current
Liabs 544 567 506
Net
Worth 119 112 109
Capital,
Paid-Up 45 45
<Analytical
Data> (%) (%) (%) (%)
S.Growth
Rate 1.35 -2.50 6.15 ..
Current
Ratio .. 124.45 126.81 124.11
N.Worth
Ratio .. 15.66 13.93 14.87
R.Profit/Sales 1.00 1.01 0.92 0.49
N.Profit/Sales 0.33 0.41 0.26 0.21
Return
On Equity .. 5.04 3.57 2.75
Notes: Forecast (or estimated) figures for 31/08/2006 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 |
|