MIRA
INFORM REPORT
|
Report Date : |
11.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
JAGDIAM CO LTD |
|
|
|
|
Registered Office : |
JM
Bldg 302, 3-7-9 Taito Taitoku Tokyo 110-0005 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Date of Incorporation : |
Mar 1995 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Import and
wholesale of polished diamonds. |
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
7.5 millions |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name
JAGDIAM CO LTD
REGD NAME
YK Jagdiam
MAIN OFFICE
JM Bldg 302, 3-7-9 Taito Taitoku
Tokyo 110-0005 JAPAN
Tel : 03-5688-3553
Fax : 03-5688-3554
URL : N/A (No plan)
ACTIVITIES
Import, wholesale of
polished diamonds
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
PATIN M JATIN, PRES
(Indian resident)
Yen Amount : In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 500 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND STEADY WORTH Yen
35 M
STARTED 1995 EMPLOYES 3
COMMENT
IMPORTER AND
WHOLESALER SPECIALIZING IN DIAMONDS.
FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN
7.5 MILLION, NORMAL TERMS
HIGHLIGHTS
The subject company was established by Patel M Jatin, a resident Indian businessman, living in Japan over 10 years, in order to make most of his business networks both in India and Japan. He speaks fluent Japanese. This is a small-sized trading house, owned and managed by P Jatin, for import and wholesale of polished, precut diamonds centrally, and other gem stones, all from India. P Jatin says shippers in India are somehow related with his father’s connections and that the relationship is good and sound. The firm is located at Ueno, Taitoku, Tokyo, a hub of jewelry stores in Tokyo. Clients are local jewelry processors, jewelry stores, other.
FINANCIAL INFORMATION
Financials are only partially disclosed.
(Please note we have revised the financials based on the data newly obtained and telephone conversation with the owner, including the accounting term.
The sales volume for Feb/2006 fiscal term amounted to Yen 500 million, a 4% up from Yen 480 million in the previous term. This is attributed to diamond price hike added to weaker Yen against foreign currencies helping to uplift sales amount in Yen terms. The net profit remained similar at Yen 10 million.
For the current term ending Feb 2007 the net profit is projected at Yen 10 million, similarly, on a 4% rise in turnover, to Yen 520 million. Benefits from the weaker Yen may continue.
The financial situation is considered maintained FAIR and should be good for ORDINARY business engagements. Max credit limit is estimated at Yen 7.5 million, on 30 days normal terms.
REGISTRATION
|
Date
Registered |
Mar 1995 |
|
Legal
Status |
Private Limited Company (Yugen
Kaisha) |
|
Regd
Capital |
Yen 3 million |
|
Major
shareholders (%) |
Patel M Jatin (100) |
|
|
Nothing detrimental is known
as to his commercial morality. |
OPERATION
Activities: Imports and wholesales polished & precut diamonds and other gem stones, all from India (--100%).
Clients
Local jewelry processors,
jewellers, other (Details unavailable)
No. of accounts: 200
Domestic areas of
activities
Centered in greater Tokyo, extending to Kofu City, Yamanashi-Pref, which is the hub of jewelry makers & processors.
Suppliers
[Mfrs, wholesalers] Imports solely from India
Payment record:
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
State Bank of India
(Tokyo)
Bank of
Tokyo-Mitsubishi UFJ (Ueno)
Relations: Money
deposits & transfers only
FINANCES
(In Million Yen)
|
Terms
Ending: |
|
28/02/2007 |
28/02/2006 |
28/02/2005 |
28/02/2004 |
|
|
Annual
Sales |
|
520 |
500 |
480 |
460 |
|
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
|
Net
Profit |
|
10 |
10 |
10 |
10 |
|
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
|
Net
Worth |
|
|
35 |
25 |
15 |
|
|
Capital,
Paid-Up |
|
|
3 |
3 |
3 |
|
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
||
|
S.Growth Rate |
4.00 |
4.17 |
4.35 |
6.98 |
||
|
Current Ratio |
|
|
.. |
.. |
.. |
|
|
N.Worth Ratio |
|
.. |
.. |
.. |
||
|
N.Profit/Sales |
1.92 |
2.00 |
2.08 |
2.17 |
||
Notes:
Financial statement not disclosed only except the above partial approx figures.
Forecast
(or estimated) figures for 28/02/2007 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 |
|