MIRA
INFORM REPORT
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Report Date : |
6th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
NOOR GEMS JAPAN LTD |
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Registered Office : |
1-16-26 Aioi Kofu 400-0858 Japan |
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Country : |
Japan |
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Financials (as on) : |
31/03/2007
(Estimated) |
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Date of Incorporation : |
Apr 1993 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and wholesalers of diamonds and 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 9 MILLION |
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Status : |
Fair |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME
NOOR GEMS JAPAN LTD
REGD NAME
Noor Gems Japan YK
MAIN OFFICE
1-16-26 Aioi Kofu 400-0858 JAPAN
Tel: 055-227-5761
Fax: 055-27-5762
URL: N/A
E-Mail address: noor@athena.ocn.ne.jp
ACTIVITIES
Import, wholesale of diamonds and other gem stones
BRANCHES
Tokyo
FACTORY(IES)
(subcontracted)
OFFICER(S)
ZAHEER A ANSARI, PRES & CEO
Natsumi Sudoh, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 700 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 52 M
STARTED 1993 EMPLOYES 10
COMMENT
IMPORTER
AND WHOLESALER SPECIALIZING IN DIAMONDS AND OTHER GEM STONES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 9 MILLION, NORMAL 30 DAYS TERMS.
HIGHLIGHTS
The
subject company was established originally as a Japan Branch of Noor Gems,
India for marketing diamonds and other precious gem stones in Japan. With the expansion of clients the import
sources have since been expanded into Thailand, Germany, USA, Brazil, in
addition to India. Goods are shipped to
jewelry processors and jewelry stores, nationwide. Partially processes into products on client’s demand. Operates Tokyo Office to cover the
market. Financials are only partially
disclosed and we have confirmed the figures from the treasurer.
The
sales volume for Mar/2006 fiscal term amounted to Yen 700 million, an 8% up
from Yen 650 million in the previous term.
The weaker Yen contributed to raise sales in Yen terms. The net profit was posted at Yen 10 million,
up 25% from the previous term. Client
networks are expanding, according to the treasurer.
For
the current term ending Mar 2007 the net profit is projected at Yen 11 million,
on a 7% rise in turnover, to Yen 750 million.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements. Max credit limit is
estimated at Yen 9 million, on normal 30 days terms.
REGISTRATION
Date Registered: Apr
1993
Legal Status: Private
Limited Company (Yugen Kaisha)
Regd Capital: Yen
10 million
Major shareholders (%): Zaheer A Ansari (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports and wholesales diamonds, and other gem stones, from India, Thailand,
Germany, USA, Brazil, other (--100%).
Clients
Jewelry processors, jewelry stores, other
No. of accounts
300-400
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Imports from India, Thailand, Germany,
USA, Brazil, etc.
Payment record
Regular
Location
Business
area in Kofu. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References
Mizuho Bank (Kofu)
SMBC (Kofu-Chuo)
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 |
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Annual Sales |
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750 |
700 |
650 |
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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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52 |
42 |
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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 |
7.14 |
7.69 |
8.33 |
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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 |
1.47 |
1.43 |
1.23 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures 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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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%)