MIRA
INFORM REPORT
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Report Date : |
6th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
NICE DIAMOND CO LTD |
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Registered Office : |
1-12-1 Tomitake Kofu City Yamanashi-Pref 400-0049, Japan |
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Country : |
Japan |
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Financials (as on) : |
30.09.2006 (Estimated) |
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Date of Incorporation : |
October 2004 |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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Line of Business : |
Imports and wholesales polished, precut diamonds and jewelry
products. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 1.2 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name
NICE DIAMOND CO LTD
REGD NAME
YK Nice Diamond
MAIN OFFICE
1-12-1 Tomitake Kofu City Yamanashi-Pref 400-0049 JAPAN
Tel :
055-228-6665
Fax :
055-228-6665
URL : N/A
E-Mail address :
niishchalsheth@yahoo.com
ACTIVITIES
Import, wholesale of polished diamonds
BRANCHES
Nil
FACTORY(IES)
(Subcontracted)
OFFICERS
NISHCHALKUMAR RAJANIKANT SHET, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 80 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND SLOW WORTH Yen 8 M
STARTED 2004 EMPLOYES 2
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED DIAMONDS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 1.2 MILLION, 30 DAYS TERMS,
RECOMMENDING SECURED TERMS ON NEW TRANSACTIONS. .
HIGHLIGHTS
The subject company was established by Nishchalkumar, an
Indian resident businessman, in order to make most of his experience in the
subject line of business, utilizing his business networks in India and Japan.
This is a trading firm, owned and operated by Nishalkumar, for import and
wholesale of polished, precut diamonds, from India centrally, and from Korea.
Handles also diamond-bedded jewelry products and others. Stones are
shipped to jewelry processors, jewelry stores, wholesalers, etc and partially
subcontracted mfg to local processors.
Kofu is the jewelry processing center in the eastern Japan, from where
products are shipped to Tokyo & Osaka regions.
FINANCIAL INFORMATION
The firm does not disclose its financials and the following
partial figures have been provided from outside sources.
The sales volume for the initial Sept/2005 fiscal term amounted
to Yen 80 million, with net profit reported at Yen 5 million.
For the term ended Sept 2006 the net profit is reported
posted at Yen 6 million, on a 6% rise in turnover, to Yen 100 million. Business started to be on uptrend with
client networks expanded.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
Max credit limit is estimated at Yen 1.2 million, on 30 days terms, we
recommending, however, on fully secured terms on new transactions.
REGISTRATION
Date Registered : Oct
2004
Legal Status :
Private Limited Company (Yugen Gaisha)
Regd Capital :
Yen 3 million
Major shareholders (%)
Nishchalkumar Rajanikant Shet (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales polished, precut diamonds
and jewelry products (100%). Goods are
imported from India centrally, and Korea, etc.
Clients
Jewelry processors, jewelry stores, other
No. of accounts
70
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from India centrally, Korea,
other.
Payment record
Regular
Location
Business area in Kofu City, Yamanashi-Pref. Office premises at the caption address are
owned by Nishalkumar as his private residence and maintained satisfactorily.
Bank References
Kofu Shinkin Bank (Ishida)
Yamanashi Chuo Bank (Kokawa)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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30/09/2006 |
30/09/2005 |
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Annual
Sales |
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100 |
80 |
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Recur.
Profit |
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.. |
.. |
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Net
Profit |
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6 |
5 |
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Total
Assets |
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N/A |
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Net
Worth |
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8 |
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Capital,
Paid-Up |
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3 |
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Div.P.Share(¥) |
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0.00 |
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<Analytical Data> |
(%) |
(%) |
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S.Growth Rate |
25.00 |
- - |
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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 |
6.00 |
6.25 |
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Note: Financials are only partially disclosed.
The 30/09/2005 fiscal is the initial accounting term from the inception.
Forecast (or estimated) for the 30/09/2006 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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)