MIRA
INFORM REPORT
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Report Date : |
13.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
CLASSIC DIAMONDS CO LTD |
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Registered Office : |
Classic Bldg 2F, 3-12-5 Taito Taitoku Tokyo
110-0016 |
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Country : |
Japan |
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Financials (as on) : |
31/03/2006 |
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Date of Incorporation : |
Mar 1996 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importers, exporters
and wholesalers of diamonds, 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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Maximum Credit Limit : |
YEN 73.6 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Name
CLASSIC DIAMONDS CO LTD
REGD NAME
KK Classic Diamonds
MAIN OFFICE
Classic
Bldg 2F, 3-12-5 Taito Taitoku Tokyo 110-0016 JAPAN
Tel: 03-5817-3621
Fax: 03-5817-3622
URL: N/A
ACTIVITIES
Import, export, wholesale of diamonds, jewelry products
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICERS
MANOJ JAIN, PRES (Indian resident)
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 5,993 M
PAYMENTS REGULAR CAPITAL Yen 65 M*
TREND STEADY WORTH Yen 98 M
STARTED 1996 EMPLOYES 8
*.. Capital increased from previous Yen 50 million.
COMMENT
IMPORTER, EXPORTER AND
WHOLESALER SPECIALIZING IN DIAMONDS AND JEWELRY PRODUCTS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 73.6 MILLION, NORMAL 30 DAYS TERMS.
HIGHLIGHTS
The subject company was
established by Manoj Jain, an Indian businessman residing in Japan for over 20
years, in order to make most of his experience in the subject line of
business. This is a trading house for import,
export and wholesale of diamonds, other precious stones, fingerings, earrings,
necklaces, bracelets, and other jewelry products. Originally started as importer of polished diamonds and other gem
stones, and recently added the export division for exporting Japan-made jewelry
products to S/E Asian countries. Diamonds
and gem stones are imported from Belgium, India, Hong Kong, etc. Stones are partially subcontracted mfg to
local processors. Clients are domestic
jewelry stores, jewelry processors, chain stores, other. Financials are only partially disclosed.
The sales volume for
Mar/2005 fiscal term amounted to Yen 5,993 million, a sharp 23% hike from Yen
4,873 million in the previous term.
Sales boosted by rising exports of jewelry products to S/E Asian
countries. While the profitability
worsened due to rising costs of imported diamonds and other gem stones, and
posted Yen 10 million, up 25% from Yen 8 million a year ago.
For the term ended Mar
2006 the net profit is believed posted at Yen 11 million, on a 5% rise in
turnover, to Yen 6,300 million. Weaker
Yen should have contributed.
The financial situation
is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 73.6
million, on normal 30 days terms.
REGISTRATION
Date Registered: Mar
1996
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 4,000 shares
Issued: 1,300 shares
Sum: Yen 65 million
Major shareholders (%): Manoj Jain (60), Dia Impex (20),
Venus Jewelry (20)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales diamonds, sapphires,
other precious & colored stones, fingerings, earrings, necklaces,
bracelets, other jewelry products (--80%), exports Japan-made jewelry products
(--20%). Export ratio will be
increased, according to the firm.
Clients: [Jewelry stores, jewelry processors] Nagahori,
Sanki Ever Sangyo, other. Exports to
Venus Jewelry, Dia Impex, other.
No. of accounts: 200
Domestic areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Eurostar Diamond, Venus
Trading (Hong Kong), M Kantilal Exports (India), other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Bank of India (Tokyo)
Mizuho Bank (Ueno)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms
Ending: |
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31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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6,300
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5,993
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4,873
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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11 |
10 |
8 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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98 |
73 |
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Capital,
Paid-Up |
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65 |
50 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.12 |
22.98
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28.68
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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 |
0.17 |
0.17 |
0.16 |
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Notes: Financials are not disclosed only except the above partial
figures.
Forecast (or estimated) figures for 31/03/2006 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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