MIRA
INFORM REPORT
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Report Date : |
14th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
MAK INTERNATIONAL LTD |
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Registered Office : |
Dia Palace Joto 2 #105, 3-16-30 Joto Kofu City 400-0861, Japan |
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Country : |
Japan |
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Financials (as on) : |
31.05.2007 (Estimated) |
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Date of Incorporation : |
June 2003 |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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Line of Business : |
Imports and wholesales precut, polished diamonds, all from
India. |
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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Status : |
Poor |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name
MAK INTERNATIONAL LTD
REGD NAME
YK Mak International
MAIN OFFICE
Dia Palace Joto 2 #105, 3-16-30 Joto Kofu City 400-0861 JAPAN
Tel : 055-227-9552
Fax : 055-227-9662
URL :
N/A
ACTIVITIES
Import, wholesale of polished diamonds
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICERS
NAHAR MANISH, PRES (Indian resident)
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 200 M
PAYMENTS REGULAR CAPITAL Yen 5 M
TREND UP WORTH Yen 35 M
STARTED 2003 EMPLOYES 3
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED DIAMONDS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Nahar Manish,
resident Indian businessman, in order to make most of his experience in the
subject line of business, utilizing his wide networks
both in India and Japan. Specializes in
import and wholesale of polished, precut diamonds, all from India. Clients are jewelry processors, jewelry
wholesalers, jewelry stores, in Kofu
City and Tokyo area. Diamonds are
partially processed at subcontracted mfrs in Kofu. Business is seen expanding
rapidly with client networks expanded.
FINANCIAL INFORMATION
Financials are only partially disclosed and in rounded off
figures.
The sales volume for May/2006 fiscal term amounted to Yen
200 million, a sharp 54% hike from Yen 130 million in the previous term. Client’s networks expanded from the previous
30 to 50, according to the treasurer.
Operations are mostly centered in greater-Tokyo. The net profit was posted at Yen 25 million,
a sharp rise from Yen 3 million a year ago.
For the current term ending May 2007 the net profit is
projected at Yen 25 million, on a 25% rise in turnover, to Yen 250
million. Business continues on the
upswing.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
Max credit limit is estimated at Yen 3.8 million, on 30 days normal
terms.
REGISTRATION
Date Registered : Jun
2003
Legal Status :
Private Limited Company (Yugen Gaisha)
Regd Capital :
Yen 5 million
Major shareholders (%)
Nahar Manish (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales precut, polished
diamonds, all from India (--100%)
Diamonds are partially subcontracted mfg to local jewelry
processors.
Clients
Jewelry mfrs, jewelry processors, jewelry wholesalers,
jewelry stores, other.
No. of accounts
50
Domestic areas of activities
Kofu and greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from Riddhi Enterprises, D.P.
Enterprises, Ripesh Enterprises, other.
Payment record
Regular
Location
Business area in Kofu City.
Office premises at the caption address are owned by Nahar Manish as his
private residence and maintained satisfactorily.
Bank References
Yamanashi Chuo Bank (H/O)
Relations: Satisfactory
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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250 |
200 |
130 |
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Recur.
Profit |
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.. |
.. |
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Net
Profit |
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25 |
25 |
3 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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32 |
7 |
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Capital,
Paid-Up |
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5 |
5 |
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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 |
25.00 |
53.85 |
-7.14 |
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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 |
10.00 |
12.50 |
2.31 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 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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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%)