MIRA
INFORM REPORT
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Report Date : |
15.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
ROSY STAR CO LTD |
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Registered Office : |
Misuzu
Bldg 7F, 5-19-4 Ueno Taitoku Tokyo 110-0005 |
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Country : |
Japan |
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Date of Incorporation : |
Jun 2002 |
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Legal Form : |
Private Limited
Company (Yugen Kaisha) |
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Line of Business : |
Import, wholesale
of polished diamonds |
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 5
millions |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
ROSY STAR CO LTD
REGD NAME
YK Rosy Star
MAIN OFFICE
Misuzu Bldg 7F, 5-19-4 Ueno
Taitoku Tokyo 110-0005 JAPAN
Tel: 03-5807-8428 Fax: 03-5807-8429
*.. Moved to the caption address Sept 2006 from the former at: Miki Ishigami Bldg 5F, 3-19-7 Ueno Taitoku Tokyo 110-0005; Tel/Fax numbers unchanged.
URL : N/A
ACTIVITIES
Import, wholesale of
polished diamonds
BRANCHES
Nil
FACTORY(IES)
(Subcontracted)
OFFICER(S)
SHAILESH MANGUKIYA,
PRES (Indian resident)
Yen Amount : In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 300 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen
40 M
STARTED 2002 EMPLOYES 5
COMMENT
IMPORTER AND
WHOLESALER SPECIALIZING IN POLISHED DIAMONDS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 5 MILLION, RECOMMEND SECURED TERMS FOR NEW TRANSACTIONS.
THIS IS BECAUSE ALL THE INFORMATION CONTAINED HERE HAS BEEN PROVIDED FROM THE FIRM’S PRESIDENT, WITH NO OUTSIDE INFORMATION TO VERIFY THESE DETAILS.
HIGHLIGHTS
The subject company was established by Shailesh Mangukiya, an Indian resident businessman, in order to import and market polished diamonds as agent for Patdim Co Ltd, India. He had been working three years at the firm and became independent to open the office in Japan. The firm has gradually expanded import sources other than India to Belgium, Dubai, USA, etc. 80% of the goods are still imported from India alone. Clients are local jewel processors, jewelers and the related, numbering to about 80 clients. Partially processes the diamonds into jewelry products on consignment.
FINANCIAL INFORMATION
The firm does not release any of its financial information and the following partial figures have been verbally given from S Mangukiya himself. No other databases are available to verify the figures.
The sales volume for May/2006 fiscal term, as professed by S Mangukiya, amounted to Yen 300 million, a 20% hike from Yen 250 million in the previous term. S Mangukiya says its client networks have been expanding thanks to various gemstones imported from expanded sources in USA, Belgium, Israel, Thailand, etc. The net profit increased to Yen 12 million from the previous Yen 10 million.
For the current term ending May 2007 the net profit is projected at Yen 12 million, on a 10% rise in turnover, to Yen 330 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 5 million, based on financials professed by the pres, S Mangukiya, we recommending fully guaranteed terms for any credits on new transactions. This is because of the information & financials being provided directly from S Mangukiya himself with no outside sources to verify them.
REGISTRATION
Date Registered: Jun 2002
Legal Status: Private Limited Company (Yugen
Kaisha)
Regd Capital: Yen 10 million
Major shareholders
(%): Shailesh Mangukiya (100)
Nothing detrimental
is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales polished, pre-cut diamonds (100%). Goods are imported from India (80%), Israel, Belgium, Thailand, USA, etc.
Goods are partially processed into products by subcontracted mfrs.
Clients: Jewel
processors, jewelers, chain stores, other (Details undisclosed)
No. of accounts: 100
(expanded from the previous 80)
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Imports from Patdim Co Ltd, India, other from Belgium, Dubai, USA, etc. Imports from India account for about 80% of total imports.
Payment record:
Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Asahi Shinkin Bank (H/O)
SMBC (Okachimachi)
Relations: Money
deposits & transfer only
FINANCES
(In Million Yen)
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Terms
Ending: |
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31/05/2007 |
31/05/2006 |
31/05/2005 |
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Annual
Sales |
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330 |
300 |
250 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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12 |
12 |
10 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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40 |
29 |
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Capital,
Paid-Up |
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10 |
10 |
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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 |
10.00
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20.00
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38.89
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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 |
3.64 |
4.00 |
4.00 |
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Notes:
Financial statement not disclosed and the statement has been prepared by us
based upon verbal collection of figures from the pres, A Mangukiya.
Forecast
(or estimated) figures for 31/05/2007 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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