MIRA
INFORM REPORT
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Report Date : |
09.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
AKSHAY INTERNATIONAL CO LTD |
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Registered Office : |
Pegasus
Machine Bldg 502, 3-35-7 Taito Taitoku Tokyo 110-0016 |
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Country : |
Japan |
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Date of Incorporation : |
Oct
1996 |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Imports
and wholesales jewellery and accessories |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 7
millions |
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Status : |
Moderate
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
AKSHAY INTERNATIONAL CO LTD
Regd Name
Akshay
International KK
Main Office
Pegasus
Machine Bldg 502, 3-35-7 Taito Taitoku Tokyo 110-0016 JAPAN (Premises: leased)
Phone: 03-3833-3822
Fax: 03-3833-3821
Operations
Imports
and wholesales jewelry and accessories (--100%). Goods are imported from India centrally.
Branch(es)
Nil
REGISTRATION
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Incorporated |
Oct
1996 |
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Legal Status |
Limited
Company (Kabushiki Kaisha) |
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Capital paid-up |
Yen 30
million (Issued: 600 shares) |
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Chief Executive Officer |
SUDHIR
J BOHARA, PRES (Indian resident) |
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Major shareholder(s) (%) |
Sudhir
J Bohara and families (--100) |
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No. of shareholders |
3 |
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Nothing
detrimental is known as to the commercial morality of executives. |
SUMMARY
FINANCES UNDETD A/SALES Yen 400 M
PAYAMENTS REGULAR CAPITAL Yen 30 M
TREND UNDETD WORTH Yen 70 M
STARTED 1986 EMPLOYS 3
Comment
IMPORTER
AND WHOLESALER SPECIALIZING IN JEWELRY AND ACCESSORIES. FINANCIAL SITUATION CONSIDERED UNDERTERMINED
DUE TO LACK OF FINANCIAL RESULTS BUT SHOULD BE GOOD FOR MODERATE BUSINESS
ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 7 MILLION, ON SECURED TERMS.
(Derived from annual turnover of Yen 400 million as vaguely confirmed by
S Bohara, pres of the firm.
Overview
The
subject firm was established by Sudhir J Bohara, an Indian businessman residing
in Japan for over 10 years, in order to make most of his business networks both
in India and Japan. This is a trading
house specializing in import and wholesale of jewelry and accessories, from
India centrally. The firm does not
release its financial details, saying this is a trade secret and declarable
only to its Bank and/or regular business clients on request. We have exchanged telephone conversations
with S Bohara and although he did not confirm definitely we are sure our
estimates are more or less nearer to the actual results of the firm, as
follows.
The
sales volume for Dec/2003 fiscal term amounted to Yen 400 million, a similar
amount in the previous term. The net
profit is thought to have been posted at Yen 10 million, a normal standard
amount for traders in the similar line of business. This amount remained unchanged from previous term. The net worth as of Dec/2003 fiscal term is
estimated from above assumptions at Yen 70 million.
For the
current term ending Dec 2004 the net profit is projected at Yen 12 million, on
a 5% up in turnover, to Yen 420 million.
The
financial situation is considered undetermined due to lack of financial details
but should be good for MODERATE business engagements. Max credit limit is estimated, from all available information, at
Yen 7 million, recommended on fully secured terms.
Clients
Local
jewel stores, jewel processors, other (Details unavailable)
No. of
clients: Not available
Area of
activities: Centered in greater-Tokyo
Suppliers
(Mfrs,
wholesalers) Imports from India
Bank References
Asahi
Shinkin Bank (Nishimachi Branch)
Relations:
Money deposits and transfer only
FINANCES
(In
Million Yen)
Not
released and unavailable
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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