MIRA
INFORM REPORT
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Report Date : |
11.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUN ROYAL CORPORATION |
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Registered Office : |
385
Shimizu-Shinkyo Showamachi Nakakomagun Yamanashi-Pref 409-3867 |
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Country : |
Japan |
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Date of Incorporation : |
Nov 1990 |
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Legal Form : |
Limited Company
(Kabushiki Kaisha) |
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Line of Business : |
Import of polished
diamonds |
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
21.6 millions |
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Status : |
Small
Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
SUN ROYAL CORPORATION
REGD NAME
KK Sun Capital
MAIN OFFICE
385 Shimizu-Shinkyo Showamachi
Nakakomagun Yamanashi-Pref 409-3867 JAPAN
Tel: 055-224-2274
Fax: 055-228-7867
*.. Tokyo Branch Office at: 5-26-15 Ueno Taitoku Tokyo 110-0005;
Tel: 03-3837-5602; Fax: 03-3837-5604
URL : http://www.gohsho.jp
E-Mail address: info@gohsho.jp
ACTIVITIES
Import of polished
diamonds
BRANCHES
Tokyo
OFFICERS
MITSUO HIGUCHI, PRES
Katsushi Higuchi, dir
Yen Amount : In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,210 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
108 M
STARTED 1990 EMPLOYES 3
COMMENT
IMPORTER OF POLISHED DIAMONDS, OWNED BY GOHSHO JEWEL CO LTD.
FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN
21.6 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established on the basis of import division separated from Gohsho Jewel Co Ltd, wholesaler of jewelry, at the caption address (See REGISTRATION). Mitsuo Higuchi is concurrently pres at the parent. The subject specializes in importing polished diamonds, as an import agent for the parent company. The parent started importing diamonds in 1988. Goods are imported from Belgium, India, Israel, etc and wholly shipped to the parent. Management and operations, including staff members, are fully integrated with the parent.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2006 fiscal term amounted to Yen 1,210 million, a slight down from Yen 1,216 million in the previous term. This is referred to the sluggish consumer spending. The net profit was posted at Yen 21 million, down from Yen 22 million a year ago.
For the current term ending Mar 2007 the net profit is projected at Yen 21 million, on a 1.7% rise in turnover, to Yen 1,230 million. Weaker Yen against foreign currencies should raise sales in Yen terms.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 21.6 million, on 30 days normal terms.
REGISTRATION
Date Registered : Nov 1990
Legal Status : Limited Company (Kabushiki
Kaisha)
Authorized : 800 shares
Issued : 200 shares
Sum : Yen 10 million
Major shareholders (%) : Mitsuo Higuchi*(75), Katsushi Higuchi (25)
*.. Pres of Gohsho Jewel Co Ltd, jewelry wholesaler at the caption address, managing 5 subsidiaries including the caption firm, founded 1984, capital Yen 48.3 million, sales Yen 6,000 million, net profit Yen 180 million, employees 45, pres Mitsuo Higuchi
Nothing detrimental
is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales polished diamonds (100%).
Goods are wholly
whipped to the parent, Gohsho Jewel Co Ltd.
Clients
[Jewelry wholesaler]
Shipped wholly to the parent, Gohsho Co Ltd.
No. of accounts: 1
Domestic areas of
activities: Centered in Kofu City, extending into the greater-Tokyo
Suppliers
[Mfrs, wholesalers]
Imports from Belgium, Israel, India, etc.
Payment record:
Regular
Location
Business area in Kofu City, Yamanashi-Pref. Office premises at the caption address are owned by the parent, Gohsho Jewel Co Ltd and maintained satisfactorily.
Bank References
Resona Bank (Kofu)
Kofu Shinkin Bank (Nishi)
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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1,230
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1,210
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1,216
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1,128
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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21 |
21 |
22 |
16 |
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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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108 |
94 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
1.65 |
-0.49
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7.80 |
-7.39
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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 |
1.71 |
1.74 |
1.81 |
1.42 |
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Note: 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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