MIRA
INFORM REPORT
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Report Date : |
16.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
STYLE PEARL GEM LTD |
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Registered Office : |
Ohtsu
Bldg 2F, 1-20-3 Higashiueno Taitoku Tokyo 110-0015 |
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Country : |
Japan |
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Date of Incorporation : |
Dec 1975 |
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Legal Form : |
Private Limited Company (Yugen
Kaisha) |
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Line of Business : |
Import,
wholesale of polished diamonds, pearls, other gem stones |
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
14.3 millions |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
STYLE PEARL GEM LTD
REGD NAME
YK Style Pearl Gem
MAIN OFFICE
Ohtsu Bldg 2F, 1-20-3 Higashiueno
Taitoku Tokyo 110-0015 JAPAN*
Tel: 03-3837-5479
Fax: 03-3837-5408
*.. Registered & headquarters
at: 5-1-23 Kagoikedori Chuoku Kobe 651-0053
Tel: 078-231-1847
Fax: 078-222-2235
URL : N/A
ACTIVITIES
Import, wholesale of polished
diamonds, pearls, other gem stones
BRANCHES
Tokyo (Headquarters at Kobe as
given above)
FACTORY(IES)
(subcontracted)
OFFICER(S)
GUMNANI RUPCHAND, PRESIDENT
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 950 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 104 M
STARTED 1975 EMPLOYES 5
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED DIAMONDS, PEARLS, OTHER JEWELRY. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 14.3
MILLION, NORMAL TERMS
HIGHLIGHTS
The subject company was established by father of Gumnani Rupchand, resident Indian businessman, in order to make most of his experience in the subject line of business. This is a trading house specializing in import and wholesale of polished, pre-cut diamonds centrally, pearls and other gem stones & jewelry products. Originally started as a pearl trader and later shifted its mainstay item to polished diamonds, which are the major source of earnings. Goods are imported from India, Israel, etc and supplied to local jewelry stores, jewelry processors, other. G Rupchand says purchase amount is between Yen 5 million to Yen 10 million per shipment. Operates Tokyo office to cover Tokyo market including Kofu City, Yamanashi-Pref, the hub of jewelry processors and shops. Gem stones are subcontracted mfg to local jewelry processors into jewelry products. Clients include jewelry processors, jewelry stores, wholesalers, other.
FINANCIAL INFORMATION
Financials are only partially
disclosed.
The sales volume for Dec/2005 fiscal term amounted to Yen 950 million, a 13% up from Yen 840 million in the previous term. This is attributed to the expanded sales networks, plus the price hike in diamonds and other gem stones. The net profit, on the other hand, decreased to Yen 10 million from Yen 27 million a year ago. The weakened profitability is referred to some NC’s due from bankruptcies of some clients, according to G Rupchand.
For the term just ended Dec 2006 the net profit is estimated posted at Yen 25 million, on a 2% rise in turnover, to Yen 970 million. Profits could improve after thorough journalizing of the accounts, says G Rupchand.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 14.3 million, on normal terms.
REGISTRATION
Date Registered: Dec 1975
Legal Status: Private Limited Company (Yugen
Kaisha)
Regd Capital: Yen 20 million
Major shareholders (%): Gumnani
Rupchand (70) & families (--30)
No. of shareholders: 3
Nothing detrimental is known as
to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales polished diamonds, pearls, other gem stones, jewelry products (--100%). Goods are imported from India, Israel, etc.
Clients: [Jewelry stores, jewelry processors] Savvy, Gosho, Daiwa Hoshoku, Taiho Kikin- zoku, other.
No. of accounts: 300
Domestic areas of activities:
Centered in greater-Tokyo & Osaka.
Suppliers: [Mfrs, wholesalers] Mani Export, Dalumi Asher, Laxmi Diamond, Ip Patel, other from India, Israel, other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
SMBC (Midosuji)
Bank of Tokyo-Mitsubishi UFJ
(Ueno-Chuo)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms
Ending: |
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31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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Annual
Sales |
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970 |
950 |
840 |
800 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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25 |
10 |
27 |
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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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104 |
94 |
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Capital,
Paid-Up |
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20 |
20 |
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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 |
2.11 |
13.10
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5.00 |
14.29
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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 |
2.58 |
1.05 |
3.21 |
0.00 |
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Notes: Financials are only
partially disclosed.
Forecast (or estimated) figures
for the 31/12/2006 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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