MIRA
INFORM REPORT
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Report Date : |
09.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
KGK DIAMONDS (FAR EAST) INC |
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Registered Office : |
1-10-3
Higashiueno Taitoku Tokyo 110-0015 |
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Country : |
Japan |
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Date of Incorporation : |
Dec 1995 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import and wholesale of rough diamonds, other gemstones, diamond
jewellery and other |
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
23.4 millions |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
KGK DIAMONDS (FAR EAST) INC
REGD NAME
YK K. G. K.
MAIN OFFICE
1-10-3 Higashiueno Taitoku Tokyo
110-0015 JAPAN
Tel : 03-3835-1449
Fax : 03-3837-5145
URL : http://www.kgkgroup.com
E-Mail address: kgkjapan@kgkgroup.com
ACTIVITIES
Import, wholesale of
rough diamonds, other gemstones, diamond jewellery, other
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICERS
SHINGI AJHAY, PRES
(Only phonetically spelled)
Yen Amount : In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,000 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND STEADY WORTH Yen
74 M
STARTED 1995 EMPLOYES 5
COMMENT
IMPORTER AND
WHOLESALER SPECIALIZING IN DIAMONDS AND JEWELRY. FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN
23.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established as a marketing arm in Japan by KGK Group, India. The Indian principal is headed by Narvattan Kotharich. The subject imports polished diamonds, ruby, sapphire, tanzanite, other colored gemstones. Also handles diamond jewellery, gem-set jewellery, platinum jewellery, other. Goods are imported from group firms in India, Thailand, etc. Diamonds and other gemstones are partially mfr’d on consignment to domestic jewellery processors. Clients include major department stores, jewellery stores, wholesalers, etc.
FINANCIAL INFORMATION
Financials are only
partially disclosed.
The sales volume for
Mar/2006 fiscal term amounted to Yen 2,000 million, a 55% hike from Yen 1,290
million in the previous term. Client
network expanded into major department stores which boosted sales. The net profit is reported posted at Yen 10
million, up from Yen 7 million a year ago.
For the current term
ending Mar 2007 the net profit is projected at Yen 10 million, on a similar
turnover, at Yen 2,000 million.
The financial
situation is considered maintained FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 23.4 million, on 30 days normal terms.
REGISTRATION
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Date Registered |
Dec 1995 |
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Legal Status |
Limited Company (Kabushiki
Kaisha) |
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Authorized |
600 shares |
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Issued |
600 shares |
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Sum |
Yen 30 million |
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Major shareholders (%) |
KGK Group (India) (100) |
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Nothing detrimental is known
as to the commercial morality of executives. |
OPERATION
Activities: Imports and wholesales polished
diamonds, rubies, emeralds, sapphire, tanzanite, alexandrite, other colored
gemstones, diamond jewellery, gem-set jewellery, platinum jewelry, others (--100%). Stones are partially
subcontracted mfg to local processors into jewelry products.
Clients
[Department stores,
chain stores, jewelry stores] Takashimaya, other.
No. of accounts: 200
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from KGK group firms in India, Thailand, Singapore, other.
Payment record:
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Mizuho Bank (Ueno)
Bank of
Tokyo-Mitsubishi UFJ (Ueno)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms
Ending: |
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31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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2,000
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2,000
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1,290
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1,300
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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10 |
10 |
7 |
8 |
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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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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 |
0.00 |
55.04
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-0.77
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8.33 |
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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 |
0.50 |
0.50 |
0.54 |
0.62 |
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Financials are only
partially disclosed.
Forecast (or
estimated) for the 31/03/2007 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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